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Tuesday, January 25, 2022

Stock in Focus: VOIL aka Curry Gold Corp. (OTCBB:VOIL)

VOIL aka Curry Gold Corp. (OTCBB:VOIL) seems to be slowing down in recent weeks as the stock has trouble staying over $1.50 a share. Investors still remember the spectacular run VOIL made from a start point of $0.75 to highs of $2.25 a share. Prior to that big run VOIL had been dormant for several months after the name change from Curry Gold Corp. to Virtus Oil and Gas Corp. in August of 2013.

Curry Gold Corp. (OTCBB:VOIL) is a multi-million dollar stock promotion from The Moskowitz Report with a landing page that says ‘Virtus Oil & Gas VOIL may have just beat a group of Industry Titans to the punch on what could prove to be a Major U.S. Oil-Find – Parowan Project, Utah! translation, buy Virtus Oil & Gas VOIL. Now up to $2.00 at a confirmed low end resource estimate of 266 million barrels. VOIL holds a potential resource value of $44.05 per share in Recoverable Oil! and that’s using just 10% of the low-end¨

$44.05 per share is ridiculous and this stock will never see anywhere near that however the promotional material seems to be working perfectly as VOIL recently exploded over the $2 mark driving up the Company’s market valuation close to the $100 million mark.

The stock continues to be a serious powerhouse as VOIL averages $2 to $5 million traded per day. Somebody is cashing in big time.

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VOIL is a Houston-based oil and gas exploration and production company currently focused on the Parowan Project, a 55,477 acre prospect targeting the Central Utah Thrust Belt. The prospect is situated near recent Utah discoveries, including Wolverine Gas and Oil’s Covenant Oil Field, which is consistent with Virtus’ strategy to acquire and develop oil and gas resources in proven, onshore basins in the United States.

On September 2 VOIL announced that its recently purchased 47 miles of 2D seismic data in the Parowan Project has been received and is currently being reprocessed with advanced processing software.

Dr. Robert (Bob) Benson, Exploration Director of VOIL, comments: “The seismic data quality is excellent, and reprocessing has already yielded a much superior product than was previously available. In particular, by applying Prestack Time Migration, we have been able to increase the resolution of the data while also improving the imaging of the prospects.

“While the reprocessing of the seismic data is being finalized, interpretation utilizing the preliminary products has confirmed several potential prospect locations. This new data consists of three seismic lines that provide a much clearer image of the structurally complex geology of the area. Once the final processed seismic data is received, a revised interpretation will be completed. This will allow us to determine the need for additional seismic data in the area.”

We have become aware that VOIL management and principals have ties to previous promotions of UFSM, ASUV, GFOX and LSTG one would think they would know better than to make absolutely preposterous predictions like $44.05 per share which would take VOIL to a $2 billion plus market valuation.

On November 7 VOIL announced that an updated independent assessment of the Company’s prospective resources by Gustavson Associates now indicates a 58.2% increase to the Company’s best estimate of un risked P50 recoverable resources on the Parowan Project. The evaluation report received yesterday is an update to the original April 10, 2014 version to reflect VOIL additional acquired acreage and mineral leases that were acquired on May 6, 2014.

Conclusion: VOIL seems to have lost much of its luster as the stock struggles to stay over $1.50 a share. There is little chance this one will ever regain its previous glory over $2 and from a technical standpoint the chart looks broken. Currently trading at a $73 million market valuation VOIL has little real fundamentals to back this up; according to the 10Q they filed on October 15 the Company has just $25,000 in the treasury, no revenues to date and burns through hundreds of thousands of dollars every quarter.

Short term VOIL could turn around and move higher although it does not look so strong at the moment. Long term VOIL cannot maintain this type of valuation and could drop significantly.

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Disclosure: we hold no position in VOIL either long or short and we have not been compensated for this article.

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