You should all listen to the presentation that Doug Bartole, CEO made at our luncheon on Friday. It is now available on our home page.
VRO looks like a solid shot at a double this year to me. It is debt free and almost a pure play on oil. Production is now over 2,000 BOPD and Doug said their target is 60% production this year.
They are partnered with PetroBakken on several wells in the Cardium. PetroBakken is now saying the majority of their growth will be from the Cardium. If oil stays over $105/bbl, VRO's CFPS should be over $0.80. So, VRO is debt free and trading at just 3X CFPS with 4-5 years of low-rish drilling inventory in the Cardium.
Vero Energy
Vero Energy
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group