it's been 2 months! is an announcement due?

From announcement on 22/02/2010

"It is expected that production will commence in approximately two months with
a total cost of approximately US$400,000. This production equipment will also be utilised in the testing of the
upper zones rather than flaring (see photo).
A decision on the timing of testing of the shallower zones will be influenced by the production performance of
the deeper zone. Once all available data has been fully evaluated, the Joint Venture will decide to either test
the shallower zones from within this well bore or drill a new well as soon as possible"

It's now been 2 months since they announced "it is expected that production will commence in approximately 2 months".
I would expect there to be an announcement soon or in the coming week or two.

I have some thoughts on the quoted section above from that announcement.

They will soon be able to test the deeper zone for as long as they want without the flaring limitation.
If the production performance of the deeper zone is good then they will drill a new well to target the shallower zones as soon as possible.
If the production performance of the deeper zone doesn't get any better then they'll move up and test the shallower zones and hopefully put one of them into production.

Either way they are expecting to bring this well into production, whether it be the deeper zone or the shallower zones and they expect to drill FP#2 ASAP.

Once they start testing I would expect announcements to be coming quite quickly again and the VIL share price to return to it's volatile ways.
A dramatic increase in flow rates on the deeper zone and drilling and production of FP#2 on the shallower zones would see VIL fly and VILO get in the money.
Moving up to the shallower zones and getting good oil and gas flowrates would also see VIL SP fly and VILO get in the money.

So what's going to stop VILO getting in the money?

The money they are raising is only there if they need it.
They don't need to take up the $10 million.
They don't need to issue 100 million shares.
If VILO get in the money they don't need to do either of the above.

Time to load up I think.
Wish I had the cajones and money to buy some VILO.
Maybe I can scrape up enough money to buy 1 million or so.

This is off course IMHO

Cheers
Wiz