VIRGINIA HILLS OIL CORP VFGGF

RE:RE:RE:buyout in the next 3mos.?

[ofirme]

I never said that execution was good at pinecrest. the past is known and choices were made.
now it is time to assess the sustainability of the debt and the cashflow against it in order to
 see if it is a must to sell the company or not. in my opinion it is possible for the company to
 survive on its own and demonstrate its business model, but it will be a long process. a
 quick way to float value will be to either sell at a much higher price or to joint venture their
 inventory of economic targets. the issue will be that so far, some of the well performance was
 bellow expectations (still very economical at $3.4M well cost). 
The value is here, the motivation of the management is certainly there (very large holders of 
 shares and options at the original $0.45(CAN) per share.
If the life cycle concept of repeating waterflooding and the flow rates are like at the first couple of
 batteries, the company should prove this year that the value is very much there (including some
 royalties etc...).
Good luck to the company and to us, its shareholders.