A few obsevations: 1. They think their stock is undervalued... slide comparing VPI stock price with price of oil. 2. They plan to make acquisitions. 3. They plan to offer equity along with debt to finance acquisitions. 4. When they watch hockey on TV and they hear "O Canada", they probably don't stand. Looks like they'd love to sell some Canadian properties for a US play. Genesis = Armeggedon?? (not really but not a pretty picture) 5. They seem to like to hedge about 25% of production but if they make an acquisition they'll hedge a larger portion. My advice to VPI management. Kick the crap out of the next 6 to 12 months by showing some really good operations and earnings...then the stock will go up and your currency will be worth more...you don't get to buy with Argentine pesos!!!
Thanks for the comments on the presentation. Too bad that someone wasn't there to point out that the reasons for the undervaluation of the VPI shares are the management and BOD.
Second, given the fact that they see the shares are undervalued, it sounds stupid and makes them look like they are fools to offer UNDERVALUED VPI shares in any purchase. The result would be bad for shareholders.
My advice to management would be to get rid of the poison pill and then the stock would go up nicely. Unfortunately for the management and BOD that would mean a quick trip to the unemployment line - a place that is deserved given their rotten performance and constant hand in the pocket of shareholder.
VPI management and BOD could do with a little SARS -