Ann: Verus secures AUD$10 million equity drawdown, page-49

re: Ann: Verus secures AUD$10 million equity ... I am really surprised at the market reaction to this announcement. After reading it I thought well that's another green day for VIL and yet there are actually people questioning if it's good and there will be cheap dilution etc. etc. Well I urge those of you who think it's not positive to go read it again, slowly this time, maybe out loud might help you to comprehend it. We could draw up some questions for you to answer such as "Do VIL have to use this money right now?" Do VIL have to use all of it? Can VIL use it whenever they like such as when the SP pops up nicely?

$10million if and when they need it, they can now punch drill holes all over fausse point to their heart's content, discover the big unknown zone, test the upper two oil bearing zones.

Anyway you look at this it's good news and they have looked after us the SH. Another big thumbs up for the VIL boys, I really like the constant flow of updates and information they provide, no second guessing what is going on, no delays, obviously very mindful about SH sentiment. I compare that to another stock I hold at the moment and probably a few others here do too, MEO and the difference is painful. Can't help thinking if VIL had handled MEO's farmout it would have been a done deal in September last year and we would be drilling right now and hitting gas!! And we wouldn't be told "If you don't like it you can sell..."