This is a great play...here is a reprint from August...Danny Deadlock..the project has since been de risked even further ...

Upcoming results should be mind blowing if confirms any of this....

PART (2) - Response to my concerns from someone who has intimate knowledge of this play

Danny, I agree with some of your assessment of VRY, but I would like to highlight some facts;

- the cheapest paper in the market is $0.40 cents (IPO)

- the 2 Principles (insiders) own 82% of the common shares (pre-financing) - and the balance 18% is owned by management and associated family.

- THERE ARE ZERO nominal shares in the float.

- there is no question that this is a high risk play. It's a risk-reward scenario and the reward is spectacular if successful (based on engineering numbers).

- Re: engineering; the companies spent in excess of $25MM de-risking the project between 2D - 3D and petro physical work lead by Dr. Richard Hubbard ( Previous head of Global exploration for BP)

- the first well has been drilled and they have achieved "Proof of concept". Confirming a large Hydrocarbon system and it is Charged.

- Risk is now to find the producing Zones/sands.

- Post 1st well, they have confirmed by Logs - structure- Maturity etc. that the prolific Monpos structure in Bolivia (short distance) exists and is analogous in Paraguay (wells in this play type in Bolivia are 100MM - 200MM Cubic Ft/d)

- 2nd well; La Pacho - this is the well of wells as the science has confirmed the charge, porosity, saturation, and source rock. La Pacho is a massive 4 way closure up dip from Jacaranda. (5.2 TCF - 150 MMBO Condensate.

- Best fiscal terms worldwide - 10-12 PCT Royalty all in.

- RISK; Reservoir - Producibility.

- REWARD similar to Africa Oil Corp. who now have a $2 Billion market cap from a small fraction of that three years ago.

Danny, most high profile accounts/funds called it the best high beta/ low risk exploration play they have seen in over a decade. There is significant risk, but the play is in its infancy and the Super Majors are swimming around already.

Further, because VRY was Carried up to $60 MM by President Petroleum - they will exit well 2 all in with still in excess of $12 MM in cash.

Yes, high rIsk, but Zero cheap shares and MANY investors cut big checks into the deal including Canacol ($5MM).

It’s an honest high profile shot