Business Description

VUL is engaged in the discovery, growth, and production of oil and gas deposits, as well as other mineral resources. The firm is also involved in a range of service arrangements, supply and resource sharing agreements, as well as geophysical and discovery contracts with the Philippine government, both of which are jointly run by the Department of Energy.

The firm do not have any operational activities as of 31 December 2019 because it is still at the discovery stage. In addition, the firm retired all its workers in the first half of 2013 because of the reorganization that began on the fourth quarter of 2012 and the planned listing of NBSI. Despite NBSI’s decision not to proceed with the backdoor listing of its retail holdings, NBSI’s acquisition and equity subscription in the Company continues to be unmodified and alternatives to create the most interest from its shareholders continue to be explored.

New Developments

  • United Paragon Mining Corp. has acquired VUL’s assets and resources in two of its Negros Occidental sites.
  • Dennis Uy, owner of Converge ICT Solution based in Pampanga, has abandoned his plan to acquire VUL.

Technical Analysis

  • Since the beginning of the year, the price has increased by 115 percent.
  • The stock has traded between P10-million and P100 million a day over the past few days.
  • It recently broke below its 8D , 20D, and 50 MAs however, it is trading above its 100D MA.
  • The stock has recovered from its recent increase and has established support at P1.95.

Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.

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