Black_hole, you make good points and reminding people about the risks, the unexpected norm nature of this business. However, VIL has responsibility to update the market with news that could materially affect the SP. VILO has time limit and delay of FP1 gas flow obviously makes it more likely to be worthless. All VIL could do is to repeat GGP announcements. VIL can't expect its shareholders to look somewhere else for such announcements.
IMO the delay has little effect on the heads but the lack of VIL updates confuses investors. Is there some disagreement in this JV? Are they working with each others? I am not trying to speculate but I could question it.
FP2 drilling whithin 4-6 months isn't that very long for small caps. The JV needs to fully evaluate FP1, extended flow of the gas, possibly of moving up and test the upper zones,.. and that alone could take a few months. New seismic could also help to decide the location of FP2 as well. Seismic processing could take months and they need good seismic interpretation to determine the FP2 location. This could be the main reason for that 4-6 months estimate. I don't see today GGP ann negative to VIL heads but the general market instead.
VIL Price at posting:
2.9¢ Sentiment: None Disclosure: Held
