VIRGINIA HILLS OIL CORP VFGGF

Fact is Evi is a bust

[uograd]

Both Pinecrest and Lone Pine bet the farm on Slave Point horizontals at Evi and the bottom line is the play is a dud.  I know it sure looks like it should be good but it ain't.

It was about this time last year Pinecrest did a bought deat financing at 3.25 per share.  Now there is no hope as there is no one to buy this play off them so the stock will just continue to tick down.

 

Darn shame but those are the facts.

[terroir]

In fact you offer few facts. I'll give you that they did a bought deal financing and that's all I see. LPR's issues surround their nat gas plays, moritorium in Quebec, and lack of balance sheet capable of developing evi. The drilled wells have great payback...but you need deep pockets to grow through the decline rates while waiting for the payback. Fact is their other plays are not

[waw33]

I agree terroir, now that I've had the chance to go over the MD&A with some coffee I actually feel quite good about everything. I was going to copy and paste some key sections but the formatting from the PDF was all messed up. I understand now that they pre trucked the required water for the injectors, I assume storing it there in farm tanks in order to avoid waterflood disruption over