announcement out, page-44

Thanks menaced, appreciate it. I believe some broader thinking might be required on this one.. they have learnt a hell of a lot from this drill in their permit zone. If (when?) its proven commercial than the whole acerage is going to be at a premium. We might see some manevouring around farmins etc. I'm waiting to see whether Gulfsands take up operatorship - this will speak volumes.
I guess the flip side is it takes cash to develop oil fields and we have have a number of partners who a reasonably cash poor including us. ADX still has a $20m credit facility to tap into over and above the recent raising, but VIL has limited options at the moment. We might see some future placements. I don't care if they are above todays price and are for growing the company in known prolific oil zones.

I think we are seeing the start of something significant for VIL in both Tunisia and in the US - finally!!

Cheers

Maddoc