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Spoke with Dan Green. They’ve been dealing with some issues and everything been settled so he finally expects to bring on new money for the well workovers this spring. He seemed confident and now with Colorado being a nasty place for operators we could see other folks in the area. Anyone see all the press releases on Rose Petroleum and their well going to spud and hopefully connect to Green’s pipeline and gas plant.
I am looking into unloading my whole position. Supposedly 14 million in assets and revenue producing properties yet can’t get the filings done. Have given them more than a year to clean this up and still nothing. Sorry not buying it anymore.
Well if it sells you will know the results!
If you sell please let me know results
I stopped buying a while ago, this is taking way to long. While I understand delays and what not this needs and needed to be done last year. In fact I am very tempted to start selling some
IT DOESN'T LOOK GOOD MY FRIENDS
I talked to Dan Green again last week, but it was a very brief talk. I just asked when is the audit going to be finished, I reminded him that last time he told me that it was going to happen in November.
He said February but there was no conviction in his voice, then he mumbled something like "there are some creditors we cannot get hold of..."
What I'm thinking is to maybe, perhaps, offer him the services of... I know people that are good at finding anybody, and also people who are experts on audits.
Trying to get back to trading like normal I hope.
I will, but for me is not so easy. I'm a writer (don't know a thing about investing, that's why I'm on this) and its hard for me to talk, but I will, eventually.
The audit should have been concluded by now. I wonder if there will be some notification. If not, I'm going to call.
Filings need to be a priority. As a shareholder none of this other business adds to the value if its not trading. Will also open many doors for financing much larger deals.
We’ve actually had a good few weeks. Thoughts on 2019?
As far as selling or buying stock yes you can do both now but there is no rhyme or reason to how the market accepts the order. I have been able to buy blocks of 25k at a time and then sometimes as little as 450 shares I just keep the order GTC good until cancelled and is it has always filled before expiration. Yes this filing has been a black cloud on the company since delisting. Hopefully rectified sooner rather than later, I know he's been working on it.
Also be great to see revised Reserve Reports. They had numbers with $40 oil and $2 gas so love to see upside with new numbers being higher. If only $70 oil again. IMO
Good Stuff. Thanks! And I agree with not being able to trade normally. Not sure why they gave that answer.
TIME TO TELL YOU about a conversation I had with one of the top directors of VOIL.
QUESTION: When will I be able to sell my stocks freely?
ANSWER: You can do it now or anytime
COMMENT: This is not 100% true because I have a great number of stock here and I cannot share more than a few thousand each time
QUESTION: What about the audit?
ANSWER: The audit is ending in November
COMMENT: We are reaching the end of November, I want to see if we get an announcement that the audit is finished
FORGOT TO ASK QUESTION: Do you think the audit will be successful?
ANOTHER ANSWER: After the audit is concluded it will take a couple of months to reinstate the stock [in another exchange?]
FINAL COMMENT:I expect that -- if the audit ends successfully in the next few days -- this stock will be trading normally by Feb 2019 at the latest. If we don't get any notice by next week I will be calling the CEO again.
What kind of Notice?
If we could just have another 5M% increase today that would be great.
LIKE i said. Some painting the tape.
They need to get this audit and filing done to get back up and trading.
Someone “painting the tape”. No bad news out there to cause this. Oil up and promising. Someone frustrated and at a cheap price playing some games.
That also makes sense.
Maybe they are getting VOIL ready to start trading normal again and have just taken the price out while they fulfill all outstanding Buys and Sells in the order they were placed. Then once those are all fulfilled we will have a new stock price and it will trade normal again going forward. That's me being HOPEFUL!!!
So someone sells 28,000 shares @ 0.000001 which is a whopping $0.028 Only makes sense if it is a mistake or someone trying to get us to unload our shares for virtually nothing.
28K trade just went through so lets definitely hope that it isn't the Toast route.
It is a mistake - maybe its getting ready to trade. Else: we are toast
Ughhhh, what just happened to the stock price?
What leads you to believe that we will be trading normal again next week?
It has actually been about A YEAR now.
I have a hunch that the trade-opening is about to come real soon, next week, perhaps.
Not sure i would buy into rumors but best thing is the delay has prices very favorable for the industry. So many neighbor operators in Colorado facing huge political backlash. Don’t be surprised some of them come West.
So are we at like 5-6 months since they said they were taking the necessary steps to complete the Audit and SEC requirements?
If the Valero thing is true then I am glad my order to sell expired a couple of days ago.
and, oh, I forgot:
#) the price of crude is higher by 20 dollars since this POS last traded!
Just some of the facts I remember
1) no debt
2) not being sued
3) new director(s)
4) assets went from less than 1/2 mil to 14 mil !!
+ more I don't remember off hand
Where did you hear the Valero rumor?
Where did you hear this?
Why would you dump? This stock has the potential to go above one buckaroo as soon as it starts trading again. And thanks for airing the rumor.
I hear a Valero is eyeing them. Cross your fingers. I’m dumping as soon as it pumps off any strong news.
We need to call these guys and see whats up. Seemed like we were back on track about 3-4 months ago. Now its crickets again.
Is there a new officer/director?
Why doesn't the management makes us a service and post a few words after almost a year of silence.
We are a group of people that have our money stuck in this company and at least, we deserve some kind of update. Please!
the time to be able to trade this stock is approaching
(sentiment)
69,000 volume half way through the day??? How and What's going on?
Yeah I hope VOIL isn't in that mix of workers getting into that.
Since there is not too much to write about, here goes the following:
(I think VOIL is in or near the Permian area)
Coke, Meth And Booze: The Flip Side Of The Permian Oil Boom
By Tsvetana Paraskova - Jul 29, 2018, 6:00 PM CDT
Midland
The fastest-growing oil region in the U.S. is fueling not only the second American shale revolution—it’s fueling a subculture of drug and alcohol abuse among oil field workers.
The Permian shale play in West Texas is once again booming with drilling and is full of oil field workers, some of which are abusing drugs and alcohol to help them get through long shifts, harsh working conditions, and loneliness and isolation.
Drugs are easily accessible in the Permian, which is close to highways and to Mexico. For oil field workers making six-figure salaries, money is not a problem to buy all kinds of illegal substances to shoot, snort and swallow to get through 24-hour-plus shifts. The physically exhaustive work also sometimes causes aches for workers, making them susceptible to getting hooked on prescription painkillers.
The drug and alcohol abuse subculture in the Permian is a known—yet rarely reported or discussed—issue in the most prolific U.S. shale play, where oil production is booming, and relentless drilling attracts oil field workers from all over Texas and all parts of the United States.
In Midland, in the very heart of the Permian oil boom, The Springboard Center—a drug and alcohol addiction treatment facility—has many clients from the oil fields, Christopher Pierce, director of marketing for center, tells Rigzone’s Valerie Jones in an interview.
“We get a lot of clients who work in the oilfield because of where we’re located,” says Pierce, 35, a former oil field worker, and a former addict.
Pierce and The Springboard Center in Midland are now working on building a gated living camp community free of drugs or alcohol for people who want to be in a safe place.
Related: The Three Best Oil Majors Of 2018
Oil workers are not speaking up at work about their addiction for fear of getting fired, Pierce said, adding that he doesn’t have anything negative to say about the oil industry, which is the backbone of the economic growth in the Permian.
Some oil field workers and contractors use drug cocktails or various substances depending on the condition they seek to achieve during their 24-hour-plus shifts. At the beginning of a long or overnight shift, they would use ‘uppers’ like cocaine and methamphetamines, and finish the shift with ‘downers’ such as prescription medication or alcohol, Kayla Fishbeck, regional evaluator for Prevention Resource Center Region 9, a data repository for 30 counties in West Texas, told Rigzone.
“In Region 9, the most screened drug last year was amphetamines and that was largely in the oilfield,” she said.
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Thanks to the oil boom, the unemployment rate in Midland is at a record low 2.1 percent, and the unemployment rate in Odessa is also a historically low of 2.8 percent.
According to Fishbeck, Midland and Odessa are the top two Texas cities for drunken-driving fatalities.
“We hear stories of guys getting off their shift, getting a six-pack or 12-pack on their way home and start drinking in their truck,” Fishbeck told Rigzone.
Related: The Most Important Waterway In The Oil World
The Permian’s drug of choice is crystal meth, a stimulant increasingly supplied by Mexican drug cartels, according to law enforcement officials who spoke to the Houston Chronicle in May.
There is a strong correlation between the rise of drilling activity and the number of crystal meth seizures by authorities in the Permian area, Houston Chronicle’s cross-analysis of data from the Texas Department of Public Safety and the rig count shows.
Eddy Lozoya, a former oil field trucker and a recovering addict at 23, has recently found a job at a local department store selling shoes. At least for the next few months, he doesn’t plan to return to the oil field.
“I don’t see myself being able to work 100 hours a week sober,” he told the Houston Chronicle. “The oil field is tough.”
By Tsvetana Paraskova for Oilprice.com
Yeah I just want to know that at least the Audit started back in June at the latest. Still nothing from VOIL on that piece. No New filings on the SEC either.
I found this:
Company CEO, Dan Green, has worked tirelessly with Company's accountants to update the financial statements. As a result of the acquisition of Tin Cup Mesa and Squaw Canyon, the assets in the Company have gone from approximately $250,000 to $14,000,000. The previous management of Virtus had put events in place that brought it into non-compliance with the SEC.
Filing of a Form-10 with the SEC will bring Virtus from the Grey Sheets back to the OTC Bulletin Board. The Company expects this to be completed and approved by the SEC within 90 days of a completed audit. The Company expects the audit to commence in May 2018.
Dan Green, Chairman and CEO at Virtus, said: "Under my tenure at Virtus we have been successful in defending the Company from lawsuits, reducing liabilities and bringing the Company from a wildcat explorer to a production company."
source: https://www.newsfilecorp.com/release/34123
comment: we are now in July 10th - the audit should have been completed by now
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Dan Green | Dan Green is a Petroleum Engineer with over 38 years of Professional Experience in Oil and Gas Industry. Mr. Green is the President of Pacific Energy & Mining Company an oil and gas operator. He is also Vice President of Finance with Satview Broadband Ltd. a Cable Television and Broadband Company based in Reno, Nevada providing cable TV and Internet service, also owns and operates a television channel. He was the President of Western Energy Inc., an independent oil company that was publicly traded which held leases in Utah and Kansas. Previously he managed operations for NP Energy a publicly traded oil company which held assets in Utah, Colorado, and Texas. |
Brett A. Murray | Brett A. Murray is a U.S. Citizen and has over 15 years’ experience in the Oil and Gas Industry. Mr. Murray spent the first three years at Virtus as Chief Operating Officer for publicly traded Virtus Oil and Gas Corporation and with addition of Green as CEO, He took on the role of EVP, Land Manager and Senior Management for Gunnison Energy Corporation, Land Manager for Sundance Energy Australia Limited (ASX: SEA), Sr. Landman at Anschutz Exploration and Landman at Anadarko Petroleum Corporation. His knowledge of the industry through multiple acquisitions and divestitures with leadership abilities will work well for the company and has been involved with multiple transactions totaling over $2 Billion dollars in his years. |
Jim Gibbons | James “Jim” Gibbons is the former Governor of the State of Nevada, Former Member of the United States Congress, Attorney, Fighter Pilot in the United States Air Force, an Air Line Pilot, Geologist and a Hydrologist. Mr. Gibbons retired as a Colonel in the United States Air Force. For his Service in the First Gulf War, Mr. Gibbons was awarded the Distinguished Flying Cross. Mr. Gibbons Mission in Kuwait represents the Air National Guard Mission of the War and is listed in the Air National Guard Museum in Washington DC. |
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Virtus Oil and Gas was founded in 2013 with the mission of acquiring and developing onshore oil and gas working interests in proven basins in the United States. The As part of our corporate strategy, we believe in the following fundamental principles: | NEWS FROM THE COMPANY VOIL Releases Financials With $14 Million in Assets Virtus Unaudited 8-31-17 Financials Virtus Unaudited 5-31-17 Financials Virtus Unaudited 2-28-17 Financials
4/13/17 Update on Workovers and Investor Presentation 3/21/17 Purchase of San Juan Properties 2/22/17 Virtus Oil Announces Letter of Intent to Acquire Assets 2/2/17 Virtus Oil Announces New Board Members and Management Virtus Encounters Oil Shows In Lone Pine Well |
MANAGEMENT TEAM Virtus Oil and Gas is backed by a management team that is experienced in taking energycompanies from the start-up and early development phases through the period of reservesand capital growth within a public company environment. The executive team at Virtus Oiland Gas has held and currently hold senior management positions and boardmemberships with several successful small- and medium-sized producers.Together, the team brings more than 100 years of combined oil industryexperience to Virtus. | VOIL Share Breakdown AUTHORIZED SHARES: 141,849,161 SHARES OUTSTANDING: 18,000,000 Non-Restricted FLOAT: 25,371,00071,558 Market Cap: $11.14mm (As of 5/4/18) Updated April 2018 |
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