Vista - Inherit from usercontrol - Object not set to instance of an object

I am trying to inherit from a user control, but when i try to change
the value of a property of a control within the base control, i get
the above error message. Here is the code

BASE CONTROL - ASCX
<%@ Control Language="vb" AutoEventWireup="true"
CodeBehind="BaseControl.ascx.vb" Inherits="BSL.Web.BaseControl" %>

<asp:Label ID="Label1" runat="server" />

BASE CONTROL - CODE BEHIND
Public Partial Class BaseControl
Inherits System.Web.UI.UserControl

Protected Overridable Sub Page_Load(ByVal sender As Object, ByVal
e As System.EventArgs) Handles Me.Load

End Sub
End Class

INHERIT CONTROL - ASCX
<%@ Control Language="vb" AutoEventWireup="true"
CodeBehind="InheritControl.ascx.vb" Inherits="BSL.Web.InheritControl"
%>

INHERIT CONTROL - CODE BEHIND
Public Partial Class InheritControl
Inherits BaseControl

Protected Overrides Sub Page_Load(ByVal sender As Object, ByVal e
As System.EventArgs) Handles Me.Load
MyBase.Page_Load(sender, e)
Label1.Text = "Hello" ' THIS LINE ERRORS
End Sub

End Class

I have marked the line above that errors, Label1 seems to be Nothing??
Anyone know what i am doing wrong?