nice, page-40

1. It was announced a couple weeks back 4th March:

http://www.hotcopper.com.au/asx_announcements.asp?id=154144

Page 3, paragraph 4.

We just dont know WHO the promoter is. Why the mystery?

2. Not sure the promoter paid to get back in. To me, it seems the promoter gets it for nothing, but will now pay 10% of future expenses. So VIL now contribute 45% of costs instead of 50%(was 66% of FP1).

Never the less, as VIL said in the above ann, it is an "ecouraging and exciting" sign of faith by the promoter.

3. Doesnt really clear things up, we new May, and infact the ann by GGP last week says we expect cashflow to start in April/May, so it could be even sooner.

The "explore the remaining area" doesnt give a timeline. But they have indicated it will take time, basically this lowest interval must first be fully understood. Could take weeks or months or even years.

GGP as operator havent scheduled a FP2 as yet, and are quite busy. If flows quickly improve in the first few weeks of production we will know more by end may. Only then will any decision be made on FP2. Puts pressure on the June deadline, but if FP1 is substantial there is still hope FP1 alone could get VILO in the money. Personally im not risking it.

Happy Easter All.