fausse point

I had emailed VIL on friday at 9.04pm and received a reply at 8.22pm tonight from Nathan Ryan of NWR Communications. He said that all the information about FP and SD is in the presentation that came out on thursday. So I had a look again and saw all of this on p10 about FP. It does seem that they have been doing some work after all. The 6th dot point says that early december is when they expect to start making some decisions. The 4th dot point explains why they haven't even planned any drilling. I expect no actual drilling till some time in the 2nd quarter next year.

Here is the excerpt from p10:

•Verus have engaged the services of a very experienced independent Geological & Geophysical (G&G) expert to complete final reprocessing work & analysis of the Side-track & shallow prospects.
•Acquired additional geological & analogue well information - now being utilised to understand the regional geology & productive formations that may be present, allowing comprehensive understanding of the structure & potential of the possible sands present
•Final Selection of Bottom hole locations for FP sidetrack and shallow prospect almost completed.
•Operator is over 75% complete in securing the leases over the shallow prospect. Cannot plan drilling until all land is secured and all permitting completed.
•Shallow prospect cannot be accessed from FP# 1 location but can potentially be drilled from another existing old location – this is under final review.
•Once all the G & G work is satisfactorily complete (early December), a full assessment of risk, cost and potential upside will be performed to enable an adequate assessment of the required investment.
•The work performed by Verus over the last few months will provide a solid geological understanding and economics to allow full assessment of the risk and potential success. This in turn will increase the opportunity for a farm out to fund drilling with enough data now available to complement a complete farm out package.