I do agree XR8, my gut says we will hear very little about FP...

I do agree XR8, my gut says we will hear very little about FP for some time yet. Which does suck. Hopefully the AGM notes will prove me wrong. Miki29 are you going to it?

However im not that pessimistic about the most recent play. I challenge anyone who feels like they will never see a return on investment with VIL to actually look into all the information regarding it.

So it will dilute our shares by 164 million shares initially. What will that bring our total shares to now?

Its not that bad, considering management actually managed to get these SI's to buy in at 1.225c when the shares were at 1.3c and had been around that mark for a few months. Its a good effort. Lets be honest sweet nothing was going to happen without a CR. They may have been able to slowly accumilate funds from producing wells but that would have taken at least another year or so for them to even get a few hundred k under their belt after operation costs.

The share holder anger isnt from the CR as i think that was done fairly well. They couldnt have asked for anything over 2c excise price come March.. no one in their minds would have gone for 4-5c price as there is only 4 months...

The anger comes from them investing in another venture when they clearly need funds for FP2. Our flagship hole that sunk months back.

However if you do the math... they raised $2,009,000 from the CR. Plus $250k from the oppies. We can ignore them as they are going into backpay to ADX so they are gone. Till they get cashed in come end of March. Giving us another 4.5m, and yes.. diluting shares even further however our key to success right now is growth.

So they have $2m in the bank, they are spending $1.1m on this hole in Tunisia which if you read the ADX Anns and profile sounds quite promising.

That leaves $900k... surely thats enough for either FP2 or Silverwood?

Lets be honest boys an girls if they have put FP2 on the back leg for now then quite simply FP2 isnt worth drilling.
Doesnt take a rocket scientist to figure that out. And something tells me that of all the HC posters here and VIL management i think id quite confidently say that they would know slightly better about the potential of FP2 then we would.

If i hadnt invested in VIL yet and had some money to punt id put it in now. at 1.3 or even 1.2c its a screaming buy.
Its not going to get any cheaper any time soon, except from a massive fail, and id say with the build up to spudding Sidi it will no doubt bump up to at least 1.5-1.6c thats a 25% profit in like 2 months.

I dunno, this is all speculation do your own research. I just wish i hadnt bought in when i did and waited till now, id feel quite confident with the investment at the levels it sits at now.... i need to hold until we are back in the 3's so my judgement may be biased.


DYOR