Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Looking through the leaders and laggards for today I see that TSX-listed (VLE) and Standard-listed (VLU) Valeura is having a good day, with its shares up by 23% last seen. This is on the back of an agreement to sell shallow conventional gas assets in Turkey for $15.5 million and up to $18 million. With apparently $31 million of cash on its balance sheet as at 30 September and no debt, the market capitalisation sits at just £21 million (according to ADVFN). So it is a buy, right? Or is it?
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