Ann: Fausse Point and Verus Update , page-34

This announcement confirms the long term potential for Fausse Point. I remain bullish long term for VIL. They will need money to develop this project. You can probably rule out bank finance as US banks require two producing wells as the minimum criteria and I do not see a an Australian bank lending against a Louisiana based project that is still speculative in bankability terms. They will have two options in my opinion:
1. An agreement similar to the one BCC just signed or
2. A discounted placement to SI's.

Either way, I believe dilution is coming hence I have increased my short position at 4.1c and will revisit the stock in a couple of weeks. Good luck to all.