posted
To me, Velocity Oil and Gas (trading at 1-2 cents a share right now) seems like a sleeper pick on which to go long. It's acually been above 1 dollar a share from July to August 2008. VOIG is expanding their oil exploration in the Gulf Of Mexico region and I think that if and when the economy finally recovers, it's fairly possibe for VOIG to get over $1 a share again.
What do you think about Velocity Oil and Gas stock?
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HOUSTON, Feb 11, 2009 (BUSINESS WIRE) -- Velocity Oil & Gas, Inc. (Velocity or the Company) (OTCBB: VOIG.OB) is pleased to outline its strategy and activity outlook for 2009 under new management. Mr. James Moses was appointed the sole director and President effective September 15, 2008 when Mr. Frank Jacobs resigned due to other commitments. Our goals are in sharper focus as the USA and the World face economic stress, especially with a concern about domestic energy production. While we build assets, operations, and shareholder value, the Company makes its contribution as a small company to both the economy and domestic oil and gas production.
The Company was incorporated in April of 2006 to develop upstream oil and gas properties. In November 2007, after a rigorous selection period, the Company acquired an interest in five offshore exploration licenses in the Gulf of Mexico. The portfolio was further enhanced in 2008 when the Company secured participation in the upcoming drilling of West Cameron 629 and converted its "participation rights" in South Marsh Island 138 to a full 40% "working interest".
The Company is also very focused on joint venture relationships and other opportunities with industry partners so as to pool resources. For example, while we may have drilling rights, we may not have the operating experience of another firm to undertake the drilling. We are always evaluating new projects for Velocity and acquiring production in 2009 is the highest priority.
The Company is now intent on raising exploration funds to participate in the drilling of at least two wells in 2009. With the current oil price and financial markets stabilizing, we believe that the prospects for a successful company are excellent.
Safe Harbor Statement: "This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein." The Company takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
SOURCE: Velocity Oil & Gas, Inc.
CONTACT: Velocity Oil & Gas, Inc. Pauline Jacobs, 604-574-2248 Copyright Business Wire 2009
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posted
`There is a lot in this sector that is VERY exposed. Someone brought ALY to my attention today. Why the hell not, can't even get VOIG to come up on stockcharts but that's my freekish putter splashin down!
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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posted
Yeah, I've bought my roughly 48,000 shares of VOIG at an average of about 3 cents per share. I figure that it can't get much lower than it is right now, so unless VOIG goes defunct the worst-case scenario is that I recover most if not all of my money.
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