VEN was at 1c the day of the merger was announced so it has dropped 60% since the merger was announced. VEN definitely got marked down for the GLL merger. I agree with you though @slamdog VEN won't bounce on the breakup and needs to actually provide some good news.
So who blinked? The release reads like VEN called it off which made sense as they had more to lose.
Debt is fully drawn and VEN had $3.8m in the bank last qtr. Surely VEN will need to raise and then to drill either Odin-3 of chase some oil at Thadra? VEN refocussing on the Cooper Basin assets is good for the other JV partners, MEL and Bridgeport.
VEN Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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