They are trading at around an 80% discount to the heads now....

They are trading at around an 80% discount to the heads now.

While the risk is considerably higher it's a rare opportunity to leverage a considerable position into a company that has just announced two considerable gas shows in a project they have a 50 stake in.

Time to do some maths for those considering VIL/VILO.

$10000 outlay can buy @ 250000 heads or 1.25 mill VILO

Should the s.p hit 20c and options exercised:

Cost of conversion and buy price for

VILO : 125000+10000 = $135000.
Value: 250000
Profit: 115000

VIL: 250000 heads x .2 = $50000

Riskier? Yes.
Bigger upside? $65000

Play with the numbers as you wish. should this unfold, selling some VILO to fund conversion (if still time) would be a likely course of action.