DIMMO, in relation to the options, my opinion that it is well...

DIMMO,
in relation to the options, my opinion that it is well worth a punt but only if one is able to except the possible loss. The risk/reward is huge on this play but it has been substantially alleviated by the recent news.

Now let me explain....

If the flow rates of the new find were 1.8 mmcfd and commercia but NO NEW SUBSTANTIAL DISCOVERY, would the options be of any value?

My opinion is that the possibility of a new huge discovery far outweighs the current commercial flow rate from a new zone. This, in itself, will re-rate the JV. If that proves fruitful, one can be rest assured that they will release a new drilling program. I do not think that VIL will be below 15 cents at that point.

Question - Is there a new commercial discovery or is the JV just being excited over nothing? Their moves in the last few weeks signal that something else...(i.e. infrastructure build, acreage extension and JV partner acquiring new acquisitions).