valuation, page-35

"I know the lower interval was never going to have oil, but many posters on here were saying it was a certainty. and had high hopes of substantial upside to the reserves. With no oil in the lower interval there must be more reality that the upside case is less likely now."

Quite frankly, what relevance is "many posters on here were saying it was a certainty?" You think VIL care about what uninformed Hot Copper posters say or predict?
The company's forecasts did not include oil from this zone therefore their "best case" scenario is still valid until proven otherwise.
Yes, I agree VILO is very risky. Probably one of the riskiest ASX listed options at this time. No doubt.