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To CEO Kenny Hill,
Months drift by with little or no news being made available. It does seem that nothing is being done to provide shareholders with any information.
Running a public company should be about keeping shareholders informed on what is happening.
Having even a little information can help Investors to make decisions in what we all know is a very high risk business.
regards togetherwegain
2013 could just be the year Victory Energy, but only if the people in VYEY start to make the most of ANY news when it becomes available.
Investors are always looking for early signs of results from a company so they can jump onboard for the ride.
Every new well drilled should be promoted from day one by updates until its completion.No company drills a well unless they think it as a good chance of success, so tell investors day by day what is happening
If a well fails to be as good as expected start telling them about the next but at all costs keep a steady flow of information coming.
Saying nothing for week after week gives investor the idea you are doing nothing and they quickly lose interest and look for other investments.
Wishing all VYEY shareholders a great Christmas and a Happy New Year.
Having got rid of excess baggage I see no reason to throw more money away on a replacement. This company is already management top heavy, lets get rid of a few more of this non productive set up and start paying management by results not by how much they can take from the company
Ode to Victory Energy 26th October 2012
To shareholders in VYEY it's just not FAIR (no news as usual)
We have a board which does not CARE (only about their own salery)
When they have good news they dare not SAY (they are paranoid)
For fear some rival steals their prospects AWAY (fat chance)
We all hope that soon the price will RISE (more producing wells)
When they tell us about a strike of gigantic SIZE (large oil find)
Until then I guess we're STUCK (several hundred shareholders)
So what we need now is lots of LUCK (Good luck everyone)
Will VYEY ever learn how to promote a company, month after month with little or no news. I am about to get rid of my few remaining shares
Email from Kenny Hill received today. I have seen no such Press release,
Just in case you missed this in the press release:
“Pinetop - Acquired in June, Victory holds a 4% Before Payout (BPO) working interest and a 2.94% net revenue interest, and a 3% After Payout (APO) working interest at a 2.205% net revenue interest in this oil and gas prospect. A total of nine wells are planned for this prospect. Based on 3D seismic data and previously producing wells drilled in the area, Victory estimates potential ultimate recovery per well of 426,741 BOE and a potential IP rate of 330 BOE per day (86% liquids). The first test well reached a total depth of approximately 11,700’ in late July, was drillstem tested at flow rates above anticipated levels and is now being completed as a producer. The Company expects to be in production for at least three months before final results are released to the market. Subsequent wells will be drilled at the APO working interest.”
Do the math on this single well and you can quickly see that it is larger than all of the company’s oil production in Q2. Victory has eight more of these to drill on the prospect acreage. The first well is always the test well.
“We commenced drilling on three gross wells during the quarter and all three appear to be commercially successful. One of the three wells spud in the second quarter now has oil flowing to tanks, while the other two are undergoing completion or testing.”
That’s three more than the company had in Q2
Figures up to June show very little production if any is coming from recent wells. I hope that one of the wells drilled since June can produce better results.
Changing accountants to try to fix the books is not going to give any investers confidence in VYEY. Having to change back to the original accountants shows the poor management control by this CEO. Time for him to hand over to someone with more ability. The buck stops at the man in charge. Go now.
In reply to my email CEO of VYEY sent a very full reply explaining that my remarks that 'no news on drilling program was bad news' was wrong and the failure to update drilling news was to protect positive data from others looking to drill in the area.
Another point answered was the violent movement of shares was due to the small number of shares available for trading with almost 90% of all VYEY shares held by less than 100 major shareholders and none of these seem to be sellers at this time.
I was told that all available information is updated through the company website on a monthly basis. However checking the website I see that the last update was in June and nothing was added during July or since up to today 8th August.
The present management seem to think they are doing all posible to keep shareholders informed a point which the CEO and myself disagreed on, but on most other points VYEY do seem very positive they are making progress and lets hope positive updates become available shortly
Reply received from CEO Kenny Hill at my email address twg@post.com has a few more interesting points if you would like to hear about them regards twg
RR and SBC here is an interesting fact about numbers of VYEY shareholders. You may already now this but I have only just found out.
Almost 90% of shares (about 24,000,000) are held by less than 100 large shareholders.It would seem that the wild price movements are mainly the result of smaller shareholders trying to buy or sell shares in a restricted market of just a few million shares.
I also understand that the witholding of any news on drilling information is to prevent nearby areas being snapped up by others.
Still a need for more facts to help investors make up their minds on this investment
If all the news that VYEY can offer is the appointment of yet another member to the management team. It is little wonder that the markets have no faith in VYEY shares. The lack of any information leads even long term holders to question if the present management have any long term plan.
With over 50 years in marketing and selling and I do know that lack of information is always bad news for shares
Shareholders in VYEY could start a pressure group.
On this message board interested holders of VYEY stock should join together to form a pressure group to 'help' the present management to find better ways to promote this company.
1 A key aim would be to get information into the public domain as soon as possible
2 The management at present hide behind other compines having control of any news disclosure. This cannot be the case when VYEY are the majority holder in new developments.
3 Although company employees are unable to pass on information, some shareholders must live near to areas of operations and local people usually knew what is happening.
4 The wide price movement on the sale or purchase of the few shares is IMO an important factor in keeping new investors away. The lack of up to date information good or bad has a lot to do with this
5 If this company has a bright future as present management say advertising this fact to as many as possible can only improve its chances of success being SOONER rather than LATER
All coments are welcome from any shareholder large or small
Been away from this site for many months as I still hold a few shares in USRI I thought I would drop in for an update. Surprise, surprise, many of the same posters on this board are still going over the same old facts and figures.
USRI took over VYGO a company which was down and out and so far as done little to make shareholders think he can make it any better.
Making moral judgements on a guy who has made mistakes in the past is not going to change anything.
If you are locked into this share you have no choice than to wait for the faint hope this share will recover.
If your a prospective new shareholder, ask yourself would you back a 100/1 outsider in a 3 horse race.
If your just here with no interest in the company give everyone a break, try posting something new and not the same old rubish day after day.
Hi RR
Updates to shareholders do not have to be of any great importance just let them know they are still involved.Here are a few ideas on how other companies have updated without giving any secrets away.
' Drilling continues at well XYZ' (nothing of note to report)
' Progress is being made with drilling but is a little behind prodicted timetable' (we've had a few problems)
'Well has now be completed flow rates are being checked'( not sure if this well is viable)
'A second well has been started at same site'( 1st must be good)
'The drilling team has moved to location ABC' ( no luck here so trying elsewhere)
None of the above gives any real details but it does show shareholders you are keeping them informed and make them feel part of the team
Cliff Hair appointed Vice President for Land does this mean VYEY also has a President for Land as well, if so who is it. Soon be so top heavy with management it will use up any income this company is likely to make in the future.
CEO Kenny Hill informed me a few weeks ago that shareholders had only to contact him to receive any available update. However my latest attempts to get any information about drilling activity have produced no reply.
Promises to update shareholders via the web site have not been kept. In just a few months VYEY has changed from regular updates of even bad news to a company which tells its shareholders nothing of any importance good or bad.
No wonder this share has one of the widest spreads of any share I have traded over the last 50 years.
If VYEY wants shareholders to invest it should behave like it has something to offer.
No news from Well drilling projects,are we to assume only non comercial wells. It's about time that VYEY began to tell us what is happening. Sold some of my shares and the price fell through the floor. Purchased some and the price shot up. IMO The market in VYEY is so weak anyone can manipulate the price with just a few dollars.
Stated aim of reverse split was to reduce violent share price movement. This clearly has not worked when a purchase or sale of 200 shares can move the share price by such a large amount.
Hi SBC, Is there any way to find out the total number of shareholders still with VYEY and how many are small shareholders holding less than 5000 shares. Would the CEO reveal this information if asked
I wonder just how many private shareholders are still with VYEY.
When several 1000 shares are sold the price drops right away and then a buy of a 100 lifts it right back up again. IMO this looks like management picking up shares on the cheap
Not a great facebook user so I have no idea what their income from adverts is going to be. But I do know that with the buying power they have from the proceeds of the flotation they can buy out just about any company they need to get them where they want to be. IMO The share price will rise or fall on how well they make use of their new muscle power. So the very wide valuations of between $5 and $100 per share are all very much in line with what might happen.
IMO Insider trading may well have added several BILLION dollars to some accounts in the first few hours of trading
How damaging could this be for FB in US. Here in UK misleading of investors could result in unlimited fines. Is it similar in US
Many of the first day buyers are small investors with a Facebook page. Do they really want to lose millions of accounts by showing they set out to fleece them with this overpriced offer
May be a gold mine but no need to buy in at too high a price. IMO If it was good value at $38 its better value at $28
Great post, seems like all we need is a little patience
RoadRunner
I think the comment on 'Lightnin' purchase was most interesting. Hill seems to have a lot of faith in this being a real breakthrough.
Reply from VYEY received today
Thank you for your email and your advice. I am the new CEO and prior to that I was the COO. All communication to the market for the last 18 months have come from my office. Your observation that someone in the company has an interest “to get smaller investors out of the company by driving down the value of their holdings” seems very counter-intuitive. Share price declines hurt everyone. Prior to April 1, 2012 there were thousands of restricted shares in the market that could not be freely traded. Most of those shares were issued by the former management team several years ago. Much of the trading since April 1 has been from those shareholders. Every member of the current management team and the board of directors is a direct investor in the company stock. We also hold options and warrants that are only valuable if the market price is above the strike price. There is absolutely no incentive for anyone that owns shares to have a low share price.
Over the last 12 months Victory Energy has acquired more oil and gas assets than at any other time in the history of the company. The last asset acquisition (Lightnin’) has a larger economic impact potential than any asset ever announced by the company. We are well positioned for growth.
If you send me an email then I will answer it within the guidelines that are allowed by the SEC. Feel free to send them to me at any time.
Cheers,
Kenny Hill
CEO and Director
Victory Energy Corporation
All recent action by VYEY seems designed to get smaller investors out of the company by driving down the value of their holdings. VYEY management seem unable to understand that major investors are also being hit. The new CEO has failed to reply to any of my recent emails which pointed out this fact. So much for being more in touch with shareholders. The goodwill in this company created by Robert Miranda bringing the accounts up to date has all but been thrown away by those now in control. My advise to them is get a grip and keep shareholders informed before it's too late. A copy of these comments have been sent to VYEY's CEO
My comment on the deleted message is the first time a message of mine has been allowed for some time. Anyone trying to give a unbiased view suffers the same action
Nice to see a comment on this board which is not over the top. Anyone posting should know that success or failure of USRI depends on the management in place now. IMO The chance of reaching a dollar a share is maybe 5% and going out of business is about 95%. If you hold shares in this company good luck, If your thinking of buying this share think again there are lots of better risks around. If you don't own shares and have no other reason to be posting other than to make negative comment Why on earth are you still here, get a life and move on. I still own a few shares but not enough to bother me even if it reached $10 per share or zero next week
Hi SBC you make a number of very good points. The lack of any info on production makes any kind of informed investment immpossible. I recently emailed Kenny to say I thought they no longer wanted small shareholders involved, but it seems they are not forthcomming to any shareholders.
Perhaps we can force them into telling more be putting forward a few figures of our own. Here is my opening offer
IMO Based on their holdings in a number of oil producing fields they could right now be getting payment for between 25-50 Barrels of Oil per day. Giving VYEY an income of up to $1,500,000 per year right now. As more wells come on stream this should increase month by month.
Look forward to hearing other shareholders opinions
Thanks for that info. How many of all issued shares are still restricted, any idea
Does that apply to shares issued to pay off debentures which were issued after that date
As some of the debenture share issues were issued as early as 15th September 2011 the 6 month restriction on trading of these shares ends on 15th March 2012.
Just received a reply to a previous email from Kenny saying all shareholders matter to VYEY.
Maybe they still do take notice when enough people voice an opinion
Just another sign that VYEY are no longer interested in keeping small shareholders informed, As Miranda hands over resposibility we will get even less information from the new team. I sold 2.5million before the reverse split for a good profit of $35000.
Looks like it is time to get out of the rest as I have no faith in new management to be fair to small shareholders. If I can get anything like a dollar a share I am out of here
My position on has already been sent to VYEY but no reply from a company which has suddenly become DEAF, BLIND and DUMB
Padre Island project has been removed from VYEY company website, so we must assume the option which ended in Dec 2011 was not viable. Would have been nice for VYEY to let shareholders know that was the case.
Is VYEY trying to drive small investors out. With such a wide spread since the reverse split this looks to be the case. A few points I would like more information about.
1 Has Padre Island option been allowed to lapse( it was supposed to run until last December).
2 Are VYEY partners still preventing them from updates on latest wells.
3 Are the other wells still producing oil at same levels.
It does seem that only the major shareholders are being kept informed at this stage in the companies development
Very good summary helping VYEY investors see forward, if the main shareholders are restricted in selling shares this would reduce the share count available by over 50%. We just need a few positive updates and this share could rocket in a very short time