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The big news we have been waiting for. Litigation behind them in regards to Energy Drilling. So now moving forward in acquiring all of the assets that was pulled from American Patriot. And now OPEC and non OPEC making cuts means up goes OIL up goes VOIL!
http://www.stockhouse.com/news/press-releases/2017/07/24/virtus-oil-and-gas-announces-court-ruling
Virtus Objected to their claims in Bk and ED never objected. It scared off investors and was the reason for failure with the Lone Pine well. So beyond great news
https://www.inforuptcy.com/filings/utbke_398411-2-16-bk-23671-energy-drilling-llc
According to VOIL Twitter: "Great News from the Fifth Judicial District Court in Iron County, State of Utah. Ruling in favor of Virtus."
Some of you that have been here since Lone Pine drilling remember the crazy lawsuits that Energy Drilling had against Virtus. Then we remember how Energy Drilling filed for Bankruptcy and eventually the Judge tossed their Counsel and appointed a Trustee to manage the assets and affairs.
IMO This is huge news and related to Energy Drilling so now the company can move forward from the major assets into the company. So lower price has to be in the rear view mirror.[
Rumor mill of paradox and Utah starting to heat up as majors forced everyone out of other basins. So let's hope half of that is true. Still waiting on VOIL to close other assets from Investor Presentation. This midstream is worth quite a bit specially moving third party gas. Happy for those that bought up on the down.
VOIL up 31%. Finally producing and making revenue. Glad I loaded up like others did on the downward so we can ride this up as we still wait for other assets from Investor Presentation to close. Glad to see no knee jerk reactions to WTI and over paying for an asset like other companies now at their 52 week low.
News coming. Small company with big things happening. Hold on as most companies are struggling with $45 oil. But overhead is way low and in proven fields.
Middle East turmoil and now this is great for energy stocks.
https://oilmanmagazine.com/strong-indicators-give-boost-oil-price/
Agreed. The presentation is pretty good. Proven assets from third party evaluations and those numbers are pretty impressive. No more micro-cap company once the barrels start coming in and looks like they would continue to come in.
New Presentation on Virtusoil.com Looks like these guys have been busy talking to new money. Very impressive the ROR once an active drilling program begins even at $50 oil!
http://virtusoil.com/Virtus%20Oil%20and%20Gas-%20April%202017%20Inv%20Presentation%20FINAL.pdf
Virtus now a "Buy" by Trendspotter Analysts
https://pearsonnewspress.com/virtus-oil-and-gas-voil-revealing-a-buy-trend/
EOG Resources Drilling Near Virtus
http://www.upstreamonline.com/hardcopy/1195508/eog-has-eyes-trained-on-utah-drilling-campaign
EOG Resources has filed for permits to drill a handful of exploration wells in the tricky Paradox basin in Utah, US, where operators have been frustrated by a series of stacked tight oil formations.
US-based EOG has submitted one application for a permit to drill a vertical stratigraphic test well on state lands in San Juan County, Utah, according to records from the Utah Division of Oil, Gas & Mining.
The Horn 1-17M well is permitted to be drilled to a total vertical depth of 6400 feet in to the Akah zone, part of a series of stacked shales and dolomites that make up the Pennsylvanian-aged Paradox formation in southeastern Utah. The area lies within the Blanding sub-basin of the Paradox basin near the town of Bluff, Utah, on acreage owned by the state.
EOG took over 23 leases on state land near the town, known as the Bluff Block, from US junior Morning Gun Exploration in June 2015, according to state records, with Morning Gun keeping a 2% overriding royalty interest on all but one of them.
The Houston-based company has been an active driller in Utah since 1997, operating in the Uintah basin in the north-east part of the state around the Greater Natural Buttes field though, earlier in 2015, it relinquished state-controlled acreage in Emery County without drilling a well. If EOG moves ahead with the Horn well, it will mark the first spud for the company in Utah since June 2012.
EOG has requested that records from the wildcat be kept confidential, which keeps them out of the public eye for a year.
Besides the Horn 1-17M well, EOG has applied to the US Bureau of Land Management (BLM) to drill a pair of horizontal wildcats on federally-owned land in Utah.
The BLM is beginning environmental analysis of the request to drill the Recapture 4-34H and Recapture 11-22H probes in San Juan County.
Both wells are planned as roughly 4500-foot laterals drilled along a north-south axis and both lie north-east of the proposed Horn vertical test well, according to BLM records.
The agency took public comments through the middle of November, before its planned environmental review for the project.
EOG estimated that each well would take eight to 20 days to drill and potentially another four months to schedule and complete a hydraulic fracture treatment, according to BLM records.
In addition to its holdings on state and federal lands, EOG picked up acreage in the Paradox through its $2.5 billion takeover of privately-held Yates Petroleum, which controlled 1.1 million acres across a variety of basins in the Rocky Mountain region.
Drillers have been chasing the potential of the hydrocarbon-rich Paradox formation for years, and have often been frustrated by the uneven results.
The Paradox itself contains a number of potential producing formations in addition to the Akah, with the most common targets being the Hovenweep, Gothic and Chimney Rock shale members, the last of which sits directly above the Akah. Anadarko Petroleum drilled a set of three horizontal wildcats into the Gothic shale member in 2013.
The best of the three flowed two barrels of oil during a 24-hour test and all three were plugged and abandoned last year.
The Horn well is the only drilling permit issued in San Juan County so far this year and only two were issued in 2015.
Moreover, EOG’s well will be just the second ever in San Juan County to test the Akah zone itself, assuming the secretive US independent lands the well in the Akah.
The other probe was Cactus Park’s 7-19 36-25 vertical well, drilled by US junior Summit Operating in 2010 that is currently listed as a natural gas producer.
AMERICAS SHALE
LATEST NEWSMOST READ
VOIL with a producer. Like actually making oil aka producing assets aka making revenue. Great job early on for their workover program.
Great Press Release today. 250bopd at $50WTI and let's say 80% NRi is 10k daily net to the company and that is 300k monthly before expenses. That my friends will have SP in green and moving on up!
http://www.nasdaq.com/press-release/virtus-oil-announces-purchase-of-san-juan-properties-20170321-00290
I think most of the momentum is from educated folks assuming that all of the assets they pulled from American Patriot end up in Virtus. Why else would Green and Gibbons come on the BoD and introduce the first asset.
See this link to see IMO what will make VOIL great!
AOW Announces Massive Deal
Patience Young Grasshopper. We have only seen two press releases and the board just came together a month ago so let's see what deals they bring in.
73 trades for a volume of 460,861! That's a good amount of volume meaning folks can actually move their shares.
Oil at $70 and VOIL picking up producing assets with stock puts this company ahead of those working on lease plays and/or loading up with debt. IMO Utah with a Trump administration will throw out the regs that hinder BLM and State lands and make it easier for operators similar to Texas.
Why stop at $.25? Look at all of the assets the Sellers had including fixed assets of a pipeline and gas plant hauling third party gas that they pulled from American Patriot. If all of those assets come into VOIL specially the three wells producing in the Permian then I see this blowing past a quarter in a hurry.
VOIL upward movement is cause Oil is rebounding and Trump is taking the handcuffs off of operators. American Patriot ASX: AOW received a lot of positive press from tried and true oil experts before Sellers pulled the deal from American Patriot from multiple reasons in their PR.
"The properties consisted of the West-World Prospect and Gaines County, Texas. The details of the assets was over 90boepd of existing production on over 22,600 net acres. 4.3mmbboe oil and gas reserves with over 400 hundred drill sites with ability to significantly grow production. The midstream company included fixed assets of 30+ miles of pipeline, 25+ miles of gathering and gas plant currently marketing third-party operators."
Source: http://m.marketwired.com/press-release/pacific-energy-mining-company-termination-of-letter-of-intent-otc-pink-pemc-2183692.htm
So if Virtus who tried to play Wildcatters with $26-40 oil and replaced the guys with zero previous Oil and Gas exp and kept the Land guy that has worked some major basins and his business development has sold multi-million dollar deals, throw in a Colorado School of Mines engineer that knows public companies and owns some producing assets (oh and has 35+ years O&G compared to previous CEO that had ZERO)and finally a former congressmen and governor who is a lawyer and geologists by degree ?!?! Well that folks is a legit board and a far cry from the nearly three year old blog.
This is a new board and management. The Bad apples are gone and VOIL has folks with proven track records. Paradox has producing wells and even has EOG Resources permitting a new Ismay well. So this is above and beyond Virtus wildcatting in Western Utah.
2MM barrels oil proven should see higher than a 2MM market cap!!!!
VOIL has been taking off with legit and experienced board. Up to 52 week high and great volume.
VOIL has been taking off with legit and experienced board. Up to 52 week high and great volume.
OPEC production dropped by 890k bopd and will continue to drop in 2017. WTI will rise along with Virtus stock as assets start rolling in.
Up 42% and momentum is about to bust through the gates once assets start trickling in.
New Board and Management with proven track records. Finally a great foundation for this company to thrive in.
NASDAQ ANNOUNCEMENT
IMO is let Trump make his announcements and they will release closer to North American Petroleum Expo in Houston in a few weeks. These guys have Virtus with little to no debt. They have the minds now to run it and assets coming. They are fast tracked to all this new money and IPO's that we are reading about.
VOIL will be over 10cents in a hurry. So I hope you are right. Serious assets including a fixed asset of a midstream company with gas plant and pipeline moving third party gas.
Let's hope this group brings their assets to VOIL that American Patriot ASX:AOW was suppose to close on but the sellers pulled it. Some major producing assets with cash flow.
https://finfeed.com/energy/aow/american-patriot-makes-game-changing-acquisition/20161005/
http://clients3.weblink.com.au/pdf/AOW/01791153.pdf
http://m.marketwired.com/press-release/pacific-energy-mining-company-termination-of-letter-of-intent-otc-pink-pemc-2183692.htm
Here is Green terminating deal for reasons.
Over 200k in Volume. VOIL sure has the volume to make it attractive when assets are acquired knowing you can actually move your stock
Let's hope the press releases involves legit assets with production and revenue. No one wants shares in a company with leases yet to be proven hoping to flip upstream. Dan Green guy runs a midstream company with fixed assets in Grand County, UT so he is for sure not a pump and dump or a land flipper.
They seem to have a track record of producing barrels. You can look at Murray's linkedin page and see all the oil deals he has done in major basins. Unlike previous management of the CEO and CFO these guys are not the Pump and Dump.
A PE from School of Mines, Attorney/Geologist/Governor, and Landman/Business Development helps get the company far and far from the past. IMO at two cents I am in to see what these guys can do with Oil rebounding and Trump about to blow up all the crazy regs that Obama had limiting exploration and development.
https://www.linkedin.com/in/brettamurray
Producing Revenue from Colorado Minerals? What happened to that?
Oil and Gas Investor Article About Virtus in Wattenberg
Website virtusoil.com now links to Yahoo OTC. Does this mean they are finally done reorganizing? Let's hope for some seasoned staff with actual producing assets instead of the train wreck we saw at the hands of the stock trader Rupert Ireland.
Only chance Virtus has is get actual management that has Oil exp with legitimate companies. Then bring in distressed assets. Benson and Murray were only reasons shareholders gave Virtus any chance and now they are both no longer there.
Wheels coming off the bus. Who is actually trading VOIL? Has to be insiders unloading before lawsuits come. Even their website has been repo'd. http://www.virtusoilandgas.com/
The rats jump off the sinking ship!!!!!