Casey's Energy Report says buy Velo Energy
Ticker Symbol: C:VLO

Casey's Energy Report says buy Velo Energy

Velo Energy Inc (C:VLO)
Shares Issued 65,608,888
Last Close 10/5/2009 $0.65
Tuesday October 06 2009 - In the News

Casey's Energy Report in its Sept. 21, 2009, issue, says buy Velo Energy Inc., now 57 cents, officially, "Buy under C$0.50." This is the newsletter's first buy of the stock. Given the small gap between the current price and the buy price, most investors when told to buy would simply pay market. The writer notes that Velo was trading at under 20 cents just months ago and has seen its share price soar on the strength of new management coming in from Oilexco Inc. Oilexco was the former $1-billion-plus U.K. North Sea company that failed spectacularly during the credit crisis. Arthur Millholland, Velo's president and chief executive officer, is the former president of Oilexco. He brought with him three other ex-Oilexco members, making the stock essentially a people play. The writer hopes these oil men approach Velo as their second chance to build a successful North Sea energy company. Oilexco rose from just cents in 2002 to its height of $19.50 in 2008. "We are hoping to catch the same level of success here with much of the same team," the writer says. Velo has yet not announced any projects, aside from its expected focus on the U.K. North Sea. He adds that according to rumours, Velo has a financing planned.

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