Analysis is based on the Canadian dollar presently at .823 vs the US Dollar.

Should VIT be selling over .85 Canadian May 7 2009, the warrants issued with the Nov 2007 stock offering will be exercised generating approximately 8.28 million US.

It is also possible that VIT will accelerate the warrant expiration on the recent stock offering in December which is exercisable at .25 Canadian. Should that occur VIT would receive an additional 2.1 million US. After the 4 month holding period for the December private placement, VIT can accelerate the warrant expiration date if VIT's stock closes above .35 Canadian for (what I believe is 30 days).

Many investors may view this potential as being a remote possibility except the warrants that were issued as part of the Dec 2008 private placement. IMO, it is entirely possible for all of the warrants being exercised.

Should one or more of the events occur for VIT, they will end up having more cash that will enable them to accelerate some of their properties toward production, and enable VIT to do a considerable amount of drilling that is not planned for this year at the present time.