its all about the word significance

Hello everyone.. sorry i havent had a chance to state my opinions lately internet problems.

Well well well, how far has VIL come. Multiple gas shows of hydrocarbon activity and then today the highest volume ive ever seen on the stock occurs; well with a 215 foot (times by 3.3 to convert to meter) gas show its absolutely massive. Now a 100 meter find for a small spec is good.. this is 645 meters!! Now in my opinion that just speaks huge volume for what is to come. The likely hood of producing well has gone up significantly in my opinion.

With mutliple gas results covering a surface of 1000 feet; it doesnt take a fool to work out that is something worth while looking into.

Now to today with the 2% oil recorded in the drilling mud. Here is a bit of information that explains what this means:

oil mud: a drilling mud, such as, oil-base mud and invert-emulsion mud, in which oil is the continuous phase. It is useful in drilling certain formations that may be difficult or costly to drill with waterbase mud. Compare oil-emulsion mud.

oil-base mud: a drilling or workover fluid in which oil is the continuous phase and which contains from less than 2 percent and up to 5 percent water. This water is spread out, or dispersed, in the oil as small droplets.

An invert-emulsion mud, or an emulsion whose continuous phase is oil. In the past, the term referred to an oil mud containing less than about 5 vol.% water. This definition, at the time, distinguished mud with less than 5 vol.% water from invert-emulsion oil muds, which had more than 5 vol.% water. Today, this distinction is not practical because most commercial oil muds can be formulated with more or less than 5 vol.% water using essentially the same types of products.

Oil-Based Drilling Fluid The term "oil-based mud" is applied to a special type drilling fluid where oil is the continuous phase and water the dispersed phase. Oil-based drilling fluid contains from 1 to 5 percent water emulsified into the system with lime and emulsifiers. Oil based muds are differentiated from invert emulsion muds (both water-in-oil emulsions) by the amounts of water used, the method of controlling viscosity, the thixotropic properties, wall building materials and fluid loss. See: Invert Oil Emulsion Drilling Fluid.

Invert Oil Emulsion Drilling Fluid A water-in-oil emulsion where water (sometimes containing sodium or calcium chloride) is the dispersed phase, and diesel oil, crude oil or some other oil is the continuous phase. Water addition increases the emulsion viscosity. The water content generally exceeds 5% by volume

An outdated distinction between two types of oil muds. In the past, invert-emulsion oil muds were those with more than 5 vol.% emulsified water, and oil-base muds were those with less than 5 vol.% water. Today, this distinction is not pertinent because the general term oil mud covers all water concentrations.

In summary, drilling muds are called oil-based muds if the continuous liquid phase (external phase) is oil (diesel, mineral, or synthetic). There are two types of oil based muds (noted above). Oil muds generally contain less than 5% of dispersed water where invert- emulsion contains water greater than 5%. In either case oil is in the continuous phase, and water is in the dispersed phase (internal phase). These muds are highly temperature- stable fluids and can be weighted to any weight after adjusting the oil/water ratio. The use of oil based muds requires safeguards for environmental protection and safety. Their main applications are in high- temperature formation, water sensitive shales, thick salt sections, areas where lubricity is critical (as in extended reach drilling (low depths (extreme)), low pore pressure formations, and other areas that contain corrosive elements.

For more in-depth information this site was very good reading - http://www.rigzone.com/training/insight.asp?insight_id=291&c_id=24

So in my interpretation, We have significant pressure areas (I love the word significant) with little oil; thus the reason why they didnt have to use much support to support the extreme log testing areas of the well. Furthermore, a 5000 unit gas show is very exciting. I cannot wait to see what will happen next week because In my opinion if we have a commercial 300 meter gas chamber which could be indicated today IMO then.. 15 cents is easily on the charts in my opinion. With a new primary target and the operator being very careful in case of a blowout situation, I wish I could through in the wife, kids and dog for some extra return.

Good luck to all holders.