I now have the full story about that big volume back on 9/28, from a reliable source. That came from 2 large crosses, from folks taking down some of the remaining shares that the company's financier, Paulsen Investment Company, still had from the company's IPO that occurred late last year. I believe the amount of shares left in that block are very small, maybe even less than 100K. If anyone is looking for VNGE stock in size, put your bid out at $.90 and Paulsen will probably sell into it as he did previously. You could try a little lower but I don't think he's that anxious to sell this last small lot. $.90 looks like it would be a great entry point given how few shares have traded at lower than that price in the last 3 months.
I'm still looking for some sort of ops update to come out sometime over the next few weeks. Per the ops update in the 7/5 8K they were already up to 200 bopd (as compared to average production of 130 bopd in the quarter that had ended just 5 days previous to that point). Even if they averaged "just" 200 bopd for last quarter (very conservative since they drilled 3-4 more wells in that quarter, at least some of which probably came on line during the quarter), that would represent a whopping 55% sequential quarterly increase in production. That sort of production increase is obviously a material event that would need to be disclosed within a reasonable time after it became known.
I really like the stock at this point and if I didn't own as much of it as I do already I'd be buying it aggressively here.
