Hi Caznac. I can understand your frustration at the way things...

Hi Caznac. I can understand your frustration at the way things have gone, particularly if you are carrying a load of shares bought way back at a much higher price than the current sp. However I can't share your lack of optimisim for VIL's future.
I thought I might put my spin on your 'evidence'. And of course it is AIMHO!!!!!

1. the chairman's jumped ship

Is that a good or a bad thing? Did he jump or was he pushed? VIL has a new man who is from GGP. Is that good or bad? Time will tell but maybe it helps with the FP thing.

2. FP has been poked, prodded, analysed, re analysed, visually inspected, interpreted, re interpreted and we're still in the dark.

From GGP announcement 29th Nov:
“A side track to the TGR # 1 well targeting a potential 200 acre gas accumulation was identified from reprocessed 3D seismic. It has a potential pay interval up to 20 BCF of gas on an unrisked basis. The cost of the side track is projected to be around $1 million. Leases over the new target have been put in place by GGP and drill site has been readied for new drilling operations.”

3. management have chosen to seek other opportunities even though VIL have 72% of a proposition with the infrastructure already in place.

From GGP announcement 29th Nov:
“The major partner in the project, Verus Investments Limited (ASX: VIL) has been reviewing the option to farm out a portion of their 72% working interest. The project remains on hold over the last several months pending VIL’s decision.”

4. hesitation or maybe a lack of takers to participate in a farm out.

Maybe they wanted to have other successes (like Lyons Point) behind them so that they could command more clout and/or have something to attract new partners with. Maybe........


If Sidi is unsuccessful vil will go under.

Most probably, but I doubt very much if SD will be a duster. If you read back over all of the announcements from ADX about SD it (IMHO) is not a duster. I am sure that ADX would have pulled the plug if it was rather than continuing with the process of getting a test rig. The time taken to get one seems to be drawn out because of the tender process and the officialdom in Tunisia.


My sentiment is hold only because I refuse to sell at this price and because I haven't got any more cash to buy more shares.