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I agree with the tenor of your post. Still think VPI is under valued on an asset basis, but operating numbers are poor. Ouch.
Don't forget they just wrote off most of Ca. That has to hurt on an asset side as well as a cashflow side.They hit only 60% in DEVELOPENT Wells.!!!I would SELL.
Someone else must agree with you. The stock is getting clobbered today. I will buy when the Dividend yields better than the 2 year Treasury Note.