VOIL aka Curry Gold Corp. (OTCBB:VOIL) has dropped back to where it all started in the first place. The promo on VOIL lasted for several months from July at $0.75 to highs of $2.24 in December. Now that it is over, everyone who bought into it is running for the exits driving the price lower.
The Company said recently that completion of its required onsite well staking for the first #1 well pad and ancillary facilities. Upon completion of the on-site inspection, last Wednesday January 14, 2015, Virtus can now submit its Application for Permit to Drill (APD) to Utah’s Cedar City District Field Office of the BLM.
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.
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.
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Back in September 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.
VOIL is moving up strong after a recent bear raid tanked the stock to an all-time low of $0.55.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 easily go much higher, long term it may drop significantly from current levels.
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Disclosure: we hold no position in VOIL either long or short and we have not been compensated for this article.