Hopefully at worst, worst case they will do a placement at 1.1c which means they will raise $2.2m before costs.
Im not sure about these figures, they were posted be Scottport a week or so ago. I would be hazarding a totally uneducated guess at what each hole would cost and cant find any info in VIL announcements. I like to think that if anything they were stated in a slighly pessimistic stance so maybe they are even inflated? :) anyway...
"1. 30% to fund a second silverwood around $450k
2. 72% to fund a second FP well of around $950k"
and i would say its safe to assume that another Bongo well will cost roughly what the last one did which was 1m.
All up thats a bit over 2.2m (2.4m)however hopefully they will raise it when our SP is slightly better (maybe after some better flows from our existing wells). Or it wont cost as much.
So hopefully one of these 3 wells will pay off within the next 6 months.
God knows we have waited long enough for this share to do something.
VIL Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
