progress update, page-4

Hi blackgold,

I would be very surprised to see the oppies in the money from here (probably abou 10-11 weeks of trading time left), based on my experience anyway. It wouldn't really make sense to wittle away precious exploration money on drilling with the aim of pushing the share price up just for oppie exercise.

Mailman,

I don't believe VOY have spent anywhere near $2.5mill on their Cliff Head exploration, considering they only had 5% interest in the project. Even if they had, there would still be $1.5 mill plus the expected Nockatunga sale, there is still plenty of money in the coffers before they need to go to market for more money. There is no doubt they will have to obtain more money in the future, but I do not believe for another year at least, and by then hopefully voy will have risen well above its current price which currently gives a marketcap of $11.4mill. I think comparing to other small exploration companies like NWE, VOY is in a much better position both money-wise and tenement-wise. No denying VOY is a speculative stock, and there are of course no guarantees, but if you ar playing the percentages, then VOY has to be one of the better small oil specs around.

Here's hoping anyway.

Cheers