why it is on red?, page-11

This was from today's announcement:

A decision on the timing of testing of the shallower zones will be influenced by the production performance of
the deeper zone. Once all available data has been fully evaluated, the Joint Venture will decide to either test
the shallower zones from within this well bore or drill a new well as soon as possible.

In my opinion there is not alot to indicate the timeframe and direction the company is taking for the next pahse of testing. This lack of direction equates to loss of trader interest. Once they can see when the next expected announcements might be, they will re-enter. In the meantime the direction of shareprice will be dictated by fundamental opportunists and will be a matter of how they read the announcement. Admittedly I now do not see alot to drive this in the immediate short-term, at least until a more definitive announcement is made on next phase.

There is no doubt that VIL will soon require more cash, which is a little bit of a concern for me. Costs of production and follow-up drilling have to be accounted for.