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Vintage Petroleum, Inc. (VPI) Message Board

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  • imadeadcat imadeadcat Feb 15, 2002 3:52 PM Flag

    VPI: a dog with fleas

    Merrill downgrade will continue to pressure VPI for next week or two. The stuff we post here means squat but they move the price. I doubt that VPI was profitable in December when all the Argentina turmoil occurred. With 25% of the assets in Argentina, and a higher portion of the "profits" I think VPI can be had for less. JMHO. All these downgrades now indicate that the analysts didn't factor in the huge Argentina exposure clearly stated in the footnotes. A man hears what he wants to hear and disregards the rest.

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    • << I doubt that VPI was profitable in December when all the Argentina turmoil occurred. >>

      Unless the government of Argentina confiscated the assets, I don't see why they are worth that much less than they were worth in November.

      Of course, there's always the risk that Argentina could royally screw all foreign businesses ...

      Maybe I don't know what I'm talking about here, been too busy watching DROOY soar to new heights. The oil sector sucks right now no matter what country the oil wells are in.