question, page-24

HGZone: "The only thing I might question is your low valuation of 16 cents. Once the size of this is known I think you may find that the company's vauation figures may be achieved."

I'm conservative...lol I just look at other small producers and at 16c, VIL would be capped at $140M. For example, look at VPE.
Cash on hand: $40M
No debt
Forecast net oil revenue for 2009/2010: $13M
Coal Seam Gas: ATP 574P (525PJ) worth $100M
CSG: Don Juan (45PJ) worth $9M
CSG: Pl171 (150PJ) worth $29M
Market cap: $130M

I know VPE are in Australia but I'm just making the comparison to get a feel for VIL's valuation.