VIRGINIA HILLS OIL CORP VFGGF

RE:production 2300 boepd

[ofirme]

That was said at January. assuming they had 2500 bopd of oil at q4 2013 and they spent about
 $10M on the waterflooding (24-25 original wells x ~$0.4M). They probably spent some money on 
 attempting to remedy the offsetting wells that had a too high of a watercut as well.
Using $60 netback as a start point, 2500 x 91 x 60 = $13.6M netback - $11M - interest  should
 not add $8M to debt. that is unless thay had some other unexpected expenses that were not
 disclosed on January 14.
They started the quarter with $123M of debt (if I recall correctly).
Good luck.