Bolton is the worst of the worst but his points re: current management are valid. The solution to pollution is dilution, that has to be the VEN board motto right now. They allowed KBC to buy a large stake in the company with their extremely poor financial management leading to all time lows. Don’t forget this board has managed to take the company from 20 cents to 1 cent. This is a board that is supposed to be extremely experienced in the cooper basin. They have bought in a significant amount of staff and the board have given themselves performance rights. We have a market cap of 13 million and are paying, what? 4 million per year in wages? How does that work?The current management have been nothing but a disaster and they have now allowed a vulture like Nick Bolton into the company. They are putting all the eggs in one basket with these Odin wells. The saving grace in this situation would be an oil hit at Odin 2 and 3.
VEN Price at posting:
1.2¢ Sentiment: None Disclosure: Held
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