Well here is the blurb on VSO Petroleum Consultants:
"VSO Petroleum Consultants is an industry leader in providing accurate and timely petroleum engineering services. The firm specializes in upstream projects including acquisition due diligence, economic evaluations, reserves reports, reservoir engineering studies, expert witness testimony, and fair market valuations for trusts. VSO, formerly known as Pressler Petroleum Consultants, has worked extensively for capital providers, operating companies, law firms, trust administrators, and those with interests in the oil and gas industry since 1992. On AVERAGE, VSO employees have nearly 20 years of technical experience within the exploration & production industry."( treat this last statement with significant professional scepticism)
However, if you look at the "our team page" of VSO website, all except for two or three of the entire team listed, joined the firm within the last few years and all of them look wet behind the ears and for sure have nothing like 20 years of technical experience and maybe not in aggregate, outside the founder and one other. So it is safe to say, you can call the assessment of VSO questionable, mind you assessments and appraisals in most industries, and oil and gas would certainly not be an exception, is a bit of a dark arts subject to a raft of assumptions and influencing factors. The original Pressler concern did have some grey hairs on their team, not the case with VSO.
ELK Price at posting:
7.3¢ Sentiment: Sell Disclosure: Not Held
