To be perfectly clear I have never said WGAS will fold or go bankrupt. I think Volk is too shrewd and will play whatever card he has in order to turn a profit here, even if it means running the O/S to 300MM and doing another R/S. There's a lot of fantasy here with Virgin Oil but nothing to back any of it up. Some people long , short or indifferent are ignoring facts and letting the dream of a 100 bagger cloud their judgement. People need to stick the facts and agree to disagree sometimes. Contrasting opinions help keep things in perspective.
Since when does Montecito own VM179 outright? They sold a significant portion to Volk. It is however tied up in litigation until there is some settlement.
The Ventana commitment letter is highly suspicious. Has anyone seen it or know when it was written/issued to Volk? The last 2 Q reports have cited a pre-approved amount of $8.5MM....Hmmmm isn't that the same amount in Ventana's letter? isn't it possible that the letter was written 8 mos. ago but Volk held on to it for the right time. He happened to release it when the BOD and Mason left with the I1 well. I call it slight of hand... Does that bother anyone?
The villification of Mason and the BOD is simply disingenuous. For what ever reason they're gone and if what others say about Volk making deals behind they're backs is true, well, no wonder they're gone. What does that say about Volk?
The Dilution is out of control! It's up 500% from the reverse split. When will it end? Who knows but can anyone honestly say Volk is not continuing to issue shares? No, because how is he keeping the lights on or the phones for that matter? What has been his MO is funding the company... that's right TOXIC funding. Volk has Volk's best interests in mind, not anyone else's. If he wants another R/S he'll do it.
AI
