TA, I do like your thinking. If there are enough people thinking...

TA, I do like your thinking. If there are enough people thinking like yourself (say 25-30% of the shares taken up) then I will be happy. For me the current capital raising is really for VIL to stay afloat. Everyone doing their own research can see they don't have enough cash at present. They don't need any more than 30% IMO to do so.

If Bongo OR FP prove worthy then the Share Price will be far higher and capital will be far easier to get. At the moment neither has proven worthy of much more expenditure than the current drill/seismic analysis.

This is the bit I don't understand, but knowing the SPP was thought when the SP was in the 3s I can see how it all panned out. Unfortunately they should have though it through a bit more the Friday they released the announcement (with SP at 2.5c). Scaled back to 50 million and outlined it was to stay operating while they determine further the current prospects (not tacking on the Bongo & FP development to disguise it).

If we don't get the amount required to stay afloat then a capital raising at lower levels than current is a real and soon possibility with outsiders, with the usual SH complaints.

Management has unfortunately now put themselves in a position of distrust which will make it difficult to determine the next move.

All of the above is purely regarding dilution. The actual fundamentals of the 2 prospects have not changed and these are the reasons why I see the company's market cap increasing in the second half of the year, starting with Bongo and then direction on FP seismic and FP1 analysis to determine the expectations for the long awaited FP2! I don't expect much from FP1 flowrates.

Next week should be interesting.