After installing MonoDevelop on your Ubuntu OS, you find yourself unable to successfully compile a VB.Net project.
You may get the error such as: Build failed. ApplicationName=’vbnc’…
In order to get MonoDevelop to compile a VB.NET project, you must have VBNC installed!
To do that, run this command at the terminal:
sudo apt-get install mono-vbnc
The OS will install the VBNC client to your system from the repository. You can view the status of the installation similar to the screen shot below.

To run a compiled exe file you must type:
mono theprogram.exe
Visit UbuntuForums for more information on VBNC