VOG 2005 New Thread

You have a point, but this is all smoke and mirrors. I am very negative about the share price at the current level. Lets look at the facts.

The company issued bullish estimates on one of its recent well tests which may or may not be correct and which may or may not prove comercial, its to early to know, we simply dont know and more wells and testing needs to be done. Never the less hey presto the share price rocketed.

A few days later at the AGM, the CEO Kevin Foo stated he did not need any more money at present.

A few weeks later, the comapny anounced it was to raise more money and a placing was to take place, yet there were no price details or number of shares to be placed.

Leaks then occured where by we were told that the company was running out of money, that the broker was struggling to make the placing and then the placing was finished at 75pence.

None of these rumours were neither confirmed nor denied by the company.

Three weeks later, we were told the final number of shares that were infact placed and the placing price.

What have we learnt from this, excluding the awfull way in which this has all been conducted, from the moment the CEO claimed no money was needed.

Well, basically we have learnt the company infact did need some cash after all and has turned round to its house broker and said, hey fellas, raise as much money as you can and the house broker has gone of and done the dead making them selfs a whacking big commision of hundreeds of thousands of pounds.

There was no agreed placing, it was basically get as much as you can. Clearly this includes anyone who was easy game to buy the shares, including market makers.

The whole thing stinks imo