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As far as I know nothing has been received yet. However they are clearly using the prospect of this settlement to leverage loan money to expand the business. My main concern is that small shareholders are now being ignored as VYEY puts new management team in place.
VYEY has daily turnover of 120,000 shares after 50-1 share reduction average turnover may drop to under 2500 per day. How will this improve the profile of the company
The latest news is just what I thought Miranda would do.
Back in March I made the following observation in post 3300
"His role as CEO always seemed to me like a transitional period until he put in place the right team to replace the crooked bunch who ran this company before.If he chose to hand over to someone with more knowledge of this type of company I would thank him and wish him well.
I bought into this company when Robert Miranda arrived as the one man able to try to turn this company around His main mandate was to sort out the financial mess.This he has done and much more by putting a business plan in place to drive the company forward."
It seems that my remarks then were just a little to early for the company to let us know that was always the intention.
Bootleg Canyon Flow rate almost identical to June estimates 252/248bpd.Looks a good find Other opinions please
What makes this board interesting is the large amount of posts from some who claim to have NO shares in USRI or any interest other than trying to protect others from some great "scam".
Hi
On about 21st Novenber according to Miranda
Good point, also VYEY has large carry over of losses which anyone taking them over could use to offset against their own profit.IMO This is a company moving in the right direction
Sold holdings in several US stocks. I will stay with what I still hold in VYEY and await post split developments
Hi CardinalR. Just a case of the fund making many large gains in a short time, taking all of our members over their personal capital gains allowance for this year. We have several shares all bought sub penny which have jumped between 800% and 4000% in the last year. With VYEY at a few cents we could say the sale value could be almost nothing based on a wide spread between buying and selling but that would not be true if VYEY was up to 50 times the price.IMO VYEY has still a long way to go upwards over the next few years
I contacted the board about this as it means I am having to unload 2.1million VYEY before the RS. But I like you am only a small shareholder on the outside with no power to alter the action Miranda and his board think is the only way forward. The reason I removed myself as moderator on this board having always supported Miranda in his pledge to provide value for all shareholders. IMO this is not now the boards future plan
As shareholders holding 60% of votes have agreed to RS this will go forward despite any protest. I don't like the RS but they have no need to get all shareholders to agree. Even if a vote was taken it would still be carried and just waste company money.
Just the type of project to provide lots of upside with only limited cost. Here hoping it has better luck than previous failed ventures. But this does show that VYEY are making great efforts to grow rapidly. IMO the RS will go ahead and may prove interesting.
The ask has risen to 5 cents anyone know why
Every time this share looks dead a few more shares change hands. Has anyone heard why this is happening
I agree 100% trade in this share is at such a low level no money is changing hands
Dry well in North Killarney was worth the risk to look for new reserves. Lets forget about that and move on to next prospect
VYEY still looks a great prospect even with the 1-50 reverse share deal. I bought many shares at their lowest level trusting in Robert Miranda to turn the company round, this he has done which is a great achievement, however he also said one of his main concerns was keeping small investors informed, this to me no longer seems part of the plan.
Well done on becoming moderator of this VYEY board, best person for the job, you always try to give a balanced view on your comments on VYEY
Hi SBC Moderator is about the same as Assistant. You would be the ideal person for this position on this board. Go for it best wishes twg
I have just resigned as moderator from VYEY message board The position is available if anyone would like it
SBC I am unable to see private messages sent by IHUB
This revese split means My investment fund must get rid of at least 90% of our VYEY shares. If yesterdays reaction to a few of my sales was any guideline that is not going to be easy. I joined Victory on the understanding that Miranda intended to be open and work for the good of all shareholders.There has been a sharp change of direction and the big losers are loyal shareholders. Am thinking of dumping all my shares and walking away. Tried to contact VYEY board but no reply
Hi SBC In your opinion is that what VYEY are looking to do. I will be forced to sell most of my shares before they complete the reverse as they can no longer be part of my investment at a much higher price.VYEY amount to over half the total in my penny share fund and I would be breaking the fund rules keeping them
Could this be the first stage in moving from pink sheets. What is the dollar price needed to make such a move
More and more message boards seem to be controlling any news they dislike. What about right to free comment.Like to hear any opinion on this matter
I know Exide Tech here in UK and the pilot project it seems was just a sample of what USRI could supply to this much larger company. If it comes to anything it would indeed be a great contract. IMO USRI are still a tiny operation pretending that they are already a key player.
I still hold shares in USRI and I would like the company to make progress. A recent statement by this company said "The Company is in discussions with Exide Technologies (NASDAQ) to supply certain scrap metal products to Exide's smelter operations throughout North America and potentially its European operations. Exide has issued a purchase-order to the Company and a pilot-program will be implemented in the month of October 2011 to begin delivery of these particular scrap metal products;" If this statement had any value you would think that someone would be prepared to risk more than $20 on this share, followed by a sell of $10 which brought the price right back down. Like many other holders of this share I am waiting for something more than just words
Large Movement on trade of a few hundred shares shows how little any news from this company is now of any interest to its shareholders. Lets have some real news instead of more "pie in the sky" promises
Interesting wildcat development in Mississippi by VYEY. IMO Low outlay with major upside potential
Hi SBC. I have just been made moderator on VYEY board. As a regular and informative poster would you be interested in Assistant position. regards togetherwegain
Hi RR
I have just been made moderator for this board and have added you as assistant. Trust this is Ok
4 out of 6 producing wells in Jones County up from 2 out of 4 looks like the reason VYEY have increased their share from 1.5% to 5%. should make up for the poor result from Alwan.
I think those in charge of this outfit would be hard pressed to change a light bulb between them let alone run any kind of company
Hi RR I am also interested in holding VYEY long term and the recent price change was great to add a few more shares. However even buying just a few seemed to take the price up, so I think that most long term holders have no intention of selling
Hi thanks for the interest. Like you I can find out very little of what has happened during the last few years.I hear they went into Chapter 11 ( or something like that) to be protected from their creditors. A few shares change hands from time to time and taht could mean something is still of interest of others. It seems that their system for reopening old wells and reclaiming oil deposits only helped for a short time, but now many companies are doing similar work in the area. They purchased a pipeline, which if still in working order could be of great value to some of the many drillers in Texas. I also have shares in VYEY and have contacted them to see if this is near to their recent Oil and gas strike. regards Terry(togetherwegain)
Thanks RR for another great summing up of the gas position. Many investors and oil companies also fail to see the very high potential of gas over the next 5-20 years.
A few shares changing hands anyone know anything
Just after they become worthless, any day now at a guess
The recent rise may well have left some investors too highly commited to one stock. VYEY now represents over 25% of all my holdings in value terms compared with less than 1% when I bought it.I am not prepared to let one share go at this time.
Some holders of this stock are looking to make short term gains as the price rises. Good luck if that is what you want. I shall be staying with VYEY as the management seem prepared to keep us informed of all available news as it happens. Lets stay strong and ride up with this one