significance of announcement , page-11

Correction, this is still a oil and gas play...the 2% oil in the drilling mud plays no part but tell us that there are hydrocarbons in the area. The operator (i.e. GGP) has also informed of the geology of the formations in the primary target. Many here have not paid attention to that significant disclosure - that is the sandstone is of good quality and exhibiting hydrocarbon fluorescence in many of the sample cuttings.

One thing to also pay particular attention to is that these announcements are coming from the operator and not VIL. In most scenarios, you will see investment groups putting a much better positive spin on the announcements but the fact that VIL is quiet bodes well for this play.