tomorrow, page-4

It has been raised by other posters, but VIL may be aquiring some of Pass Pet. assets (ie FP, Silverwood, etc).

I think there is a desire by pass to merge/sell out of some of their assets as was seen by the almost merger btw GGP and Pass. I have not seen the FP partnership agreement but maybe it states that the other partners have the first rights to buy out any of the other partners. The GGP Pass merger did not succeed but maybe with the $10m at their disposal VIL is able to offer a more commercially acceptable offer to Pass

A VIL 72 percent holding of FP is extremely attractive on its own and the chance to get 30 percent of Silverwood as well as some producing wells could be worth a capital raising.

I agree with those posters who say it would have to be a very attractive proposition to raise capital now before the potential of FP is fully known.