lol VILO... hmmm tempting, excercisable at 0.02 and March 2012. However im so far swathed in VIL atm i think i'll take my chances and not touch VILO :)
We also learned from the half yearly that VILS share of Bongo was actually closer to 12BPD rather than 30-40 as initially expected. Not great. Means we made roughly about $96k from it before costs. (1200/97days have passed)=12.5BPD x $80 (approx per barrel) = $96k).
We will need better flow rates from this if we want it to pay for itself over the next year or 2. As it cost roughly $1.1m from memory? Correct me if im wrong.
And Silverwood looks to be all but dead aka "marginal" Lucky we didnt really pay anything for this so it shouldnt impact the SP very much. Makes you wonder how surprised they were at this as Pass did throw it in for free during the merger.
Its hard to say about a potential capital raising anytime soon.
The way i read it alquamista was that VIL at this point in time had not committed to future drilling and well completion costs with the exception of the ?380k used for the seismic data (section 8 in the notes). They have 1m approx in the bank and they should be able to live off this for a while in relation to maintenance and wages. Hopefully they will farm out 22% of FP2 to cover the costs.
IMHO This ann certainly wont raise the SP but i dont think it will lower it much either. Need the SD spud ann to come out as some sort of immediate stronger base for our SP.
Oh and Believe101, im 26. Just an FYI but i dont think you can legally trade shares at 16.
Its not that i hate VIL, its that in the last year i feel that MGMT could have handled the FP directional Anns somewhat better as after all, it IS an investment Co.
Why i assumed they had been working on the Siesmic data for such a long time is because of the last few project updates having statements such as this in them "Reprocessing of seismic data is planned to be completed in early 2011" which alludes to the siesmic data actually being worked on. Its statements such as these which i find annoying as it would be a lot clearer if they said "Although we have the 3d sismic data currently we are looking for a geophysicist to help us decipher it. We expect to find one in January which is when we will start interpretation work of this data".
I know its impossible for them to be so precise when they dont even know half the time but it seems as though this happens quite consistently leading to me feeling as though they know a lot more than they do.
Also as i have mentioned many times previously my posts might seem to be pessimistic but unlike some posters i like to be critical of my investments and then nicely surprised when im wrong. Rather then overly optimistic and devestated when wrong.
VIL Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
