I posted this earlier on CoBF, perhaps it's interesting for some here as well who don't frequent that board:

There is a potentially interesting opportunity coming with the Vitesse spin-off from Jefferries. The date of the press release last Saturday and the date of the spin-off on December 27 made me suspicious. It's almost like they want as few people as possible to know about it and keep buyers away.
There will be forced selling of all fractional shares and by index funds (S&P 500 Financials, Russell 1000, Russell 3000) holding Jefferies. I suspect most of Jeffereries shareholders have no clue about valuing an oil company and don't want to hold VTS anyway. Others may not want or be allowed to hold an emerging growth company.
It looks to me as if they intenionally want this stock to trade cheaply for purposes of pricing the equity compensation or to create a buying opportunity.

Press release: finance.yahoo.com - Jefferies board directors declares spin
Registration statement: U.S. Securities and Exchange Commission: EDGAR Filing Documents for 0001193125-22-307823

If anyone has insight about how to value this type of royalty energy company I'd appreciate any input! What's an appropriate yardstick? PV-10, yield, EBITDA multiple?