Has anyone 'done the math here?' Imagine a graph where the share price of EGY is on one axis and the price of West Texas Crude is on the other... THERE IS NO CORRELATION TO THE MOVEMENT OF EGY's SHARE PRICE!!! The stock is fully manipulated and well over-priced!
FIRST, Vaalco Etame oil is priced to Brent [actually Rabi light] and mgmt. has previously stated they received a $2+ premium over the Brent price........which is currently $20 + above WTI.
SECOND There is no reason for Vaalco to trade in correlation with the commodity.
THIRD Over 90% of Vaalco is owned by instiutional investors and mutual funds most of whom are long term holders, another approx. 5% is owned by insiders........primarily Bobby. so that leaves less than 5% in the hands of indiviual investors.
Finally, E&P's are driven by growth in production & growth in reserves, and or the expectations thereof.
As a 7+ year investor in Vaalco I can attest to the need for patience.