gkontro, looks like we can both be in need of an update. If you read the Annual Report on p10, it states that VIL had invested in Fausse for $US400k, and will pay 66% of costs of well, that share expected to be $US720k. Total Oz cost about $1.25mil. The rig is hired on a daily basis, and is already over the time expected to complete with further delays and thus cost blowouts. The coy raised $528k last cap raising, and had $574k on hand at 30 June , less other expenses to date. How do you think they are going financially to complete their well obligations? What is your estimate of cash on hand currently.
VIL Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held