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Hi Guys,

I have read thru the posts this weekend – haven’t been well so just caught up and I think I’m back to speed…LOL. BTW many thanks to bobandsandyr, a lot of posters are grateful for the effort you guys are putting in, me for one. Now I have been reading that a few posters are concerned that Dubai is what is holding back VIL and if it should not be resolved will hurt the SP on VIL.

Personally I don’t believe Dubai is a serious issue for VIL one way or the other. If we were a blue chip I would agree but we are a speculative stock trading on speculation. What I think is holding up the SP is concerns over the upcoming spudding. Chiefly whether or not there will be any further delays or not. GGP also took a hit Friday but what is encouraging was the sheer volume.

Must admit while a falling SP on volume is normally a warning sign the fact the volume was so vast would suggest that someone was happy buying up – retail investors I would seriously doubt could account for that volume. So hinting that it should have been the big boys who were responsible for all that buying it suggests to me that spudding might be on track.

Only my opinion though and I could be very very wrong on that one but back to VIL. I would suggest that the Dubai issue is not that serious to VIL mainly as we are a 2.9c stock ATM with an independent valuation of 20c – 29c+ on a successful drill. In other words if spudding had of been announced on Friday I seriously doubt we would have fallen in SP.

My guess is the speculation alone of VIL’s potential SP would have seen a nice strong run and a resumption of the march north. Further let’s assume the world markets do fall hard. Does that mean if VIL hit oil (and their targets) we would remain a 2.9c stock? No even if the world markets were falling the fact we had just gone from explorer to producer would see a serious re rating.

Stocks run even in down markets as we all know. In fact they run hardest in down markets. So I would suggest all we need now is confirmation of spudding and we should be well and truly away. BTW I do believe the Dubai issue will be resolved but it isn’t affecting my decision to buy or sell VIL. Lets hope GGP gives us some good news Monday.

Fingers crossed and good luck to holders. Only my opinion above so please DYOR.