Heres the big picture Louisiana and Texas(next door neighbour) are USA biggest producers of oil and gas (me thinks) Louisana has been pumping out oil and gas for 100 years and the tap has not started to run dry. Some of the local geologist maintain that there are still some big fields yet to find- maybe up to 20-40 million barrels plus mega gas finds. We would be happy if VIL and partner find a 25 million barrel field.(Maybe unlikely BUT?
That would equate to US$2 BILLION dollars at today's prices (ie US480 barrel) BUT lets wait and see. Even a 5 million barrel field equates to US$400 million. But still early days! Lets not get happy till they start production.
For now the bells should have been set ringing- all we are waiting for now is COMMERCIAL flow, drilling say 2 or 3 more holes in the next 6 months and well some only better news week by week. Hopefully an easy 10 cents next time they say START #2
VIL Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held