VIRGINIA HILLS OIL CORP VFGGF

RE:RE:Canaccord report highlights July 9

[Iching64]

Hi again Curlews,

in the report they do a detailed analysis of the waterfloods, they like what they see but think it is too early to make any definitive calls. I do not have the knowledge to do any analysis of it.  They say the current decline curve is within the  normal range, so obviously waterflooding could improve this a great deal.

I think it is good to remember that PRY is still a very young company - has grown from nothing to 4000 bpd in 3 years.

So still a lot of uncertainty - and markets hate uncertainty, with sizeable but manageable debt.

As Bankerboy says, there may still be more downside buying opportunites -  who knows ?

But we can learn from the past -  PRY management has so far executed a pretty good development strategy -  if the past performance is any indication, perhaps we can be more confident about the longer term prospects of the share price.

but it is a double edged sword -  the very uncertainties that the market dislikes (which drive down the share price),  also make PRY, potentially (once the uncertainties become a "well executed strategy"),  a stock with a lot of upside potential.

My personal opinion is to be patient and let the experienced management  grow the company -  ignore the short term ups and downs - we probably have a few years to go before the next recession -  so I am holding till then.