VPE, Victoria Petroleum (Now SXY: Senex Energy)

[shasta]

Did they have anything to do with ODN who just sold their shareholding?....if so...no big deal

Yes, it was the ODN directors, standard practice, no need for alarm!

[trackers]

Interesting.... Massive rise for VPE, related to the QGC takeover? Or do we have ourselves a fairway...

[shasta]

Interesting.... Massive rise for VPE, related to the QGC takeover? Or do we have ourselves a fairway...

To do with the T/O there's meant to be a statement today. (look at SHG!)

QGC out of trading halt, holy smoke!

BG wants QGC, AGL will sell it's QGC stake...

QGC has swallowed SHG & RPM & owns a chunk of VPE...

All in play :D

[Tok3n]

Massive fairway of oil would be better then any speculative CSG related news.

[Financially dependant]

Massive fairway of oil would be better then any speculative CSG related news.

But together they make better reading and a higher share price!

VPE have needed a combination of good news to re-rate sp, just hope the bear doesn't take it all away again!

[Mysterybox]

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00897351

"The oil recovered in the Drill Stem Test tool is a light crude oil similar to that produced from the Growler oil field"

..P10 reserve? Thats insane?

Cant wait for the wire logs :D

as this is announced VPEO falls to 6.8c

[Financially dependant]

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00897351

"The oil recovered in the Drill Stem Test tool is a light crude oil similar to that produced from the Growler oil field"

..P10 reserve? Thats insane?

Cant wait for the wire logs :D

as this is announced VPEO falls to 6.8c

Hi Mysterybox, good news that oil is there but hard to decipher all the tech-speak "oil and drill mud" etc etc..

The story gets better and better though!

[Corporate]

Bermuda, any thoughts on the lastest annoucement?

[STRAT]

Bermuda, any thoughts on the lastest annoucement?
Dont think it was the gusher they were hoping for Shepejame

[bermuda]

Dont think it was the gusher they were hoping for Shepejame

Initially I must say I was a bit disappointed but the more I look at it the more there is something to it. Firstly, the 'Fairway" reaches that point as reported.... "the oil is very similar to that of Growler". This is obviously good news. Secondly they stopped to do a DST before drilling further. Another positive sign. Thirdly there is a lot of gas there which complicates things but not necessarily negatively.

This Fairway is starting to look really good. And it will provide VPE with a very good platform to move forward on an extrordinarily powerful potential drilling program. This , plus the latest BG move into Qgc, plus of course a seriously cashed up Sentient Group ( ex QGC sale ) means that we have two parties wanting to get the best out of VPE.

QGC ( the raider ) want the lowest and best price re a takeover and on the opposite side of the fence we have Sentient, rich with cash, wanting to realise the fantastic potential that VPE offers.

Just beautiful eh? These are the stories I like.

[Corporate]

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00897351


..P10 reserve? Thats insane?



P10 means 10% chance! Not really insane?

[Mysterybox]

Ah ic, thank you for clearing that up :)

[Financially dependant]

Tigershark is non-commercial but the fairway to heaven is still all go!!

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169310

[bermuda]

Tigershark is non-commercial but the fairway to heaven is still all go!!

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169310

Going to be doing a 3D over this area next year. In the meantime we are off to Stormbird and then Growler 5 which should cheer us up before Christmas. And remember BPT has just found a major discovery...very near to VPE's 104.

We have enough grunt to weather the storm. There are 100 Aussie oilers with less than $1m cash. Carnage coming up for them I am afraid.

[STRAT]

Going to be doing a 3D over this area next year. In the meantime we are off to Stormbird and then Growler 5 which should cheer us up before Christmas. And remember BPT has just found a major discovery...very near to VPE's 104.

We have enough grunt to weather the storm. There are 100 Aussie oilers with less than $1m cash. Carnage coming up for them I am afraid.
Hi Bermuda,
What do you reckon the chances are, VPE will be gobbled up by a bigger fish before then?

[bermuda]

Hi Bermuda,
What do you reckon the chances are, VPE will be gobbled up by a bigger fish before then?

BG/QGC are the only contender. They are a very fit contender, but in the other corner we have a very well researched Sentient Group who know the real value of VPE. And so it is a standoff until the value is recognised. Sentient bought in at 19 cents and know the potential is for VPE to go over $1..00

Nothing to worry about, apart from one of the ugliest BEARS that you could ever witness. '87 was nothing compared to this.

[STRAT]

BG/QGC are the only contender. They are a very fit contender, but in the other corner we have a very well researched Sentient Group who know the real value of VPE. And so it is a standoff until the value is recognised. Sentient bought in at 19 cents and know the potential is for VPE to go over $1..00

Nothing to worry about, apart from one of the ugliest BEARS that you could ever witness. '87 was nothing compared to this.Thanks Bermuda. Good to know. How about BOW?:D

[airedale]

Announced today...two directors not re-elected at the AGM. Does anyone know the reason?

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169429

[Financially dependant]

Announced today...two directors not re-elected at the AGM. Does anyone know the reason?

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169429

Where they the ODN directors!

[OutToLunch]

The latest IEA report is pretty serious stuff, but it does show that oil producers like VPE will shine again even if the oil price stays low for a while. In fact the longer oil stays low, the more swiftly it should move back up again because of curtailed exploration/development expenditure around the world, which should create serious supply side problems further out as natural decline and demand growth continue.

I have picked up some VPE shares partly because I still like the VPE story, and partly as an insurance against me being forced out of my VPEO at an unreasonable price should VPE be taken over -- which could easily happen at these depressed prices. I'm also still not convinced that Sentient are acting independently of QGC, though the BG takeover of QGC complicates things a bit.

[STRAT]

The latest IEA report is pretty serious stuff, but it does show that oil producers like VPE will shine again even if the oil price stays low for a while. In fact the longer oil stays low, the more swiftly it should move back up again because of curtailed exploration/development expenditure around the world, which should create serious supply side problems further out as natural decline and demand growth continue.

I have picked up some VPE shares partly because I still like the VPE story, and partly as an insurance against me being forced out of my VPEO at an unreasonable price should VPE be taken over -- which could easily happen at these depressed prices. I'm also still not convinced that Sentient are acting independently of QGC, though the BG takeover of QGC complicates things a bit.Hi OTL,
Likewise, I bought some more VPEO the other day.

[Financially dependant]

More "oil shows" in latest drill, fairway to heaven just keeps getting stronger:)!

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=169557

[The Big Ease]

More "oil shows" in latest drill, fairway to heaven just keeps getting stronger:)!

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=169557

it looks like they wanted to see how far and wide it stretched before taking pot shots at the rump of each find.

at least they are confirming the original hunch.

what next? more seismic imaging (how long does this take?)
then back into drilling, which really should start producing at multiples of the current rate.

[STRAT]

what next? more seismic imaging (how long does this take?)
.Takeover? :confused:

[Financially dependant]

Takeover? :confused:

I do hope not!! I feel I got shafted with RPM takeover so wanting VPE to get CSG certified first, I am feeling a little more secure with Sentinel's big share holding.

I think the seismic study is positive before another program of drilling, this might identify better drill position options (with better porosity spots etc?) and while that is happening the plant can be upgraded for extra capacity.

Low cost onshore drilling gives VPE a great future even will low oil prices!

[Financially dependant]

Ann out...

Some important bit's

"Stormbird-1 reached total depth of 2,176 metres in Basement. Side wall cores showed oil fluorescence at 1,812 metres and at 2,175 metres"

"Basement oil zone would be non commercial. The primary target, the Birkhead sands, were water bearing at this location."

"At 0600 hours CST today, the operation was preparing to plug and abandon Stormbird-1.":(

Still up on the day:)

[The Big Ease]

i have just gone through the sentient website in a little more detail.
very impressive personnel, especially the founding partners.

not so impressive is the performance of their current holdings (where they are publicy quoted). most of their investments were made in 2006-2007, so whilst it doesnt appear as though they bought at the top of the market, they are a little under water on almost all of their investments. given they have a stated investment horizon of upto 5 years, the clock is ticking.

it is difficult to fault them on that though, since 18 months ago few people could have predicted the slowdown in china and the subsequent fall in commodities prices. their investment rational will probably stand the test of this down cycle as they look for low cost producers or potential producers.

VPE fits that nicely and looks to be one of their better timed investments to date.

i dont think there is anything between sentient and BG/QGC.
i reckon sentient have simply looked at the playbook and have made a guess as to where the ball is going to be hit next.


question: who gets more of my money, vpe or bow?

MrB you have posted sentient's entry price into qgc of 20 cents or so. where did you get this from? i couldnt find this on their website.

[bermuda]

i have just gone through the sentient website in a little more detail.
very impressive personnel, especially the founding partners.

not so impressive is the performance of their current holdings (where they are publicy quoted). most of their investments were made in 2006-2007, so whilst it doesnt appear as though they bought at the top of the market, they are a little under water on almost all of their investments. given they have a stated investment horizon of upto 5 years, the clock is ticking.

it is difficult to fault them on that though, since 18 months ago few people could have predicted the slowdown in china and the subsequent fall in commodities prices. their investment rational will probably stand the test of this down cycle as they look for low cost producers or potential producers.

VPE fits that nicely and looks to be one of their better timed investments to date.

i dont think there is anything between sentient and BG/QGC.
i reckon sentient have simply looked at the playbook and have made a guess as to where the ball is going to be hit next.


question: who gets more of my money, vpe or bow?

MrB you have posted sentient's entry price into qgc of 20 cents or so. where did you get this from? i couldnt find this on their website.

TBE,
You can rely on a dogfight between Sentient and BG/QGC regarding any takeover of VPE by BG. They are indeed in different camps which is good news. Odin sold out early in October for about 19.5 cents....see news on both VPE and ODN sites. These Sentient guys know what is going on. Accumulate all you can. You are on to a certain winner at these levels. This is a beautiful story. The only thing that could possibly fault it is a total world meltdown.

I am picking a low price of oil for about another 18 months and then whammo...CSG will gain tremendous recognition over the next 2-3 years. Just have a look at the LNG international trade. Pardon my expression...set to explode.

I am basing my retirement on VPE and BOW plus a bit of ITC and watch out for TEX. But we need oil to stabilise and then move upward. I think we will see it fall a little now and then come back strongly.This recession has only just started.

[The Big Ease]

if this recession has only just started (which it has), then what is the hurry getting further into vpe or bow?

imo there are a number of events that could act as catalysts for price movement:
- don juan certification
- BG group or another major makes a bid for the whole of VPE (and possibly Bow's share of don juan)
- Official confirmation of the oil fairway and recoverable barrels of oil
- growler 5 is a major gusher

don juan seems to be further and further delayed. first it was late 08, then early first quarter 09, now we are talking first half of 09 and doubts about whether the 200pj target will be certified in this timeframe.

the takeover is speculative, though very likely imo. the timing could be anytime in the new year.

the confirmation of the oil fairway is almost there, though volumes are yet to be confirmed ad this is the most important thing. it is at least 6 months away from confirmation imo as there is still more 3d to come and then another program of drilling.

so in the meantime, as we watch this recession get deeper and oil drop, there isnt much in the interim that you can put your finger on with any certainty (unless you know things the market doesnt, which wouldnt surprise me!)

if you suggest it will take 18 months for bow and vpe to hit their strides again, by that time you wouldve been better off investing in the retail/finance recovery as there are some amazingly cheap stocks that will be coming on with growing earnings and expanding PE's.

i dont doubt vpe and bow have some very nice assets that will deliver over the medium term. i just wonder what is going to be the catalyst in the near term to give it a rev up.

[bermuda]

if this recession has only just started (which it has), then what is the hurry getting further into vpe or bow?

imo there are a number of events that could act as catalysts for price movement:
- don juan certification
- BG group or another major makes a bid for the whole of VPE (and possibly Bow's share of don juan)
- Official confirmation of the oil fairway and recoverable barrels of oil
- growler 5 is a major gusher

don juan seems to be further and further delayed. first it was late 08, then early first quarter 09, now we are talking first half of 09 and doubts about whether the 200pj target will be certified in this timeframe.

the takeover is speculative, though very likely imo. the timing could be anytime in the new year.

the confirmation of the oil fairway is almost there, though volumes are yet to be confirmed ad this is the most important thing. it is at least 6 months away from confirmation imo as there is still more 3d to come and then another program of drilling.

so in the meantime, as we watch this recession get deeper and oil drop, there isnt much in the interim that you can put your finger on with any certainty (unless you know things the market doesnt, which wouldnt surprise me!)

if you suggest it will take 18 months for bow and vpe to hit their strides again, by that time you wouldve been better off investing in the retail/finance recovery as there are some amazingly cheap stocks that will be coming on with growing earnings and expanding PE's.

i dont doubt vpe and bow have some very nice assets that will deliver over the medium term. i just wonder what is going to be the catalyst in the near term to give it a rev up.

TBE,
Watched the AB's down England in a small Oxford pub.Took me back years. A group of students dressed up as cowboys and indians downing pint after pint.They were pretty funny.

VPE is a medium term play for me. I am not a trader. Just troll the markets looking for a good story. A bit like Sentient except I got in first. G-5 could give it a bit of a shake but the drill bit does the talking. Next year we are definitely in takeover mode but Sentient are a serious threat to any marauder. VPE have some really good CSG permits which BG are keen to develop plus they have a chance at Canaway with BOW.

If we can get this certification completed at Don Juan and a good result at G-5, this stock could really appreciate.

[Dr_Who]

I think BG can afford to wait abit longer on VPE now that they have nearl 40% between themselves and associated fund. 40% is a big blocking stake.

[The Big Ease]

TBE,
Watched the AB's down England in a small Oxford pub.Took me back years. A group of students dressed up as cowboys and indians downing pint after pint.They were pretty funny.



they love their alcohol in this country.
theyve all got the drinking habits of an 18 year old.
remember when the sole objective of going out was to get smashed, thats what the english are like. fark!

anyhow, thanks for your replies. it looks like we are in agreement though as we know, anything could happen ;)

[Crypto Crude]

I dont think VPEO is a good investment anymore...
not unless they were trading around 1-2 cents...
Unless this company gets taken over then it likely wont hit the strike price... and the way takeovers have been going dirt cheap, then takeover offer prob would not be more than 25c anyway...
I had a dream months back and VPEO went to 1 cent in it, and VPE went to 15c.... lets see what happens eah...hehehe...

bad time in the market... great stock...
:cool:
.^sc

[bermuda]

I think BG can afford to wait abit longer on VPE now that they have nearl 40% between themselves and associated fund. 40% is a big blocking stake.

DR Who,

The point is that BG/QGC and Sentient are in opposite corners. Sentient is not an associated fund of BG/QGC. Please see earlier posts.

Shrewdy,

Who knows what's ahead? The price of oil could drop further, especially this week following Opec's ( Saudi Arabia's ) decision not to cut production. But BG have signed commitments to supply gas and their banks will now require more collateral. i.e. more proven ( certified resources ) .

When Don Juan gets certification, expect BG/QGC to make their move. Hopefully that will be before VPEO expiry. Denis Patten ( Founding Director of QGC and now Board member of VPE is continuing to buy VPE ) This guy know what's going on and so does Sentient Group.

VPE has cash in the bank , is cashflow positive and has exciting oil and CSG permits yet to be drilled.

If you want to know what a Depression is..come over to the UK. I havent seen the sun for a week, the radio is full of chat about people wanting pay rises, and theft at the supermarkets has gone up 25%. Bunker down. You are indeed living in the land of milk and honey. I really enjoyed the rugby in an Oxford pub. You would have loved it Shrewdy.

[Crypto Crude]

hey Bermuda,
I Missed you at the sharetraders meeting... I rocked up at 7pm after hosting a national poker tornament for work and got there late... In the end I did not get home until 6 am the next day... The Kiwi's won the League and inflicted a depression in Australia... haha...

Yeah, anything is possible on the markets, and with oil at the moment...
Ive started to study this UCG eah... could be real big, but does have its risks...
we just got to be patient and realise that time brings opportunity eah...
boy, it just means we can get positioned in the future in a better way...
maybe a few years to wait in the unconventional sector, who knows?
Strong mergers and acquisitions throughout 2008 have helped the market realise the true worth of CSG early on, pity that mr market has fallen asleep...

you know what id do in the UK...?
http://www.sjgs.com/spot.gif
..^sc

hehehe...

[Financially dependant]

Anyone with any ideas way?

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169828

I thought they had all the money they needed???

[Corporate]

Anyone with any ideas way?

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169828

I thought they had all the money they needed???

Yeah FB I was a little confused by this aswel...anyone care to speculate?

[shasta]

Yeah FB I was a little confused by this aswel...anyone care to speculate?

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169811

Thats why...

[Huang Chung]

So why didn't QGC participate...dilluted from 19% to 16%.

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169830

Doesn't sound like QGC are about to pounce.

[The Big Ease]

"accelerated development"

perhaps they are going to farm in on the bow blocks? who know...
i thought they were set to go to be honest. 17m in cash plus growler oil.

i wanna see them articulate what it is for.

[The Big Ease]

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169811

Thats why...

you reckon it was to curry favour with option holders?
weird...

[Financially dependant]

"accelerated development"

perhaps they are going to farm in on the bow blocks? who know...
i thought they were set to go to be honest. 17m in cash plus growler oil.

i wanna see them articulate what it is for.

What he said:).

I was thinking alone the same lines, BOW have been inviting farm in's with there latest announcements. BUT does BOW have the money to accelerate there development program if VPE buy in??

[Financially dependant]

So why didn't QGC participate...dilluted from 19% to 16%.

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169830

Doesn't sound like QGC are about to pounce.

I am now hoping OGC/BG start buying again to re-establish 19%

[Dr_Who]

Who bought the placement at 14 cents and why didnt they offer it to shareholders to participate?

[Corporate]

Bermuda - do you know whats going on with G5? Thought this had been drilled already?

[Financially dependant]

Bermuda - do you know whats going on with G5? Thought this had been drilled already?

Latest from VPE on G5, G1 to G4 has been drilled G5 is new...

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169864

[bermuda]

Bermuda - do you know whats going on with G5? Thought this had been drilled already?

It is a development/appraisal well testing the Eastern extremities of the Growler field. It will also serve to certify the Growler reserves at about 1.8 million barrels which will be a feather in their cap.

I had a chat to JK and also emailed him asking him to illucidate on the recent placement. Hopefully there will be a positive statement out this week. A positive result at G-5 would help as well. I am confident on this one but the drill bit does the talking.

Let's hope Opec aren't all talk and can get rid of a bit of this surplus.

As Matt Simmons says

1-3% surplus is a glut.
A 1% deficit is a catastrophe.

[Serpie]

I see VPE's large shareholder Sentient has just bought Rincon Lithium off of ADY for US$22M.
Nice to see someone has some money to spend in this market.

[Financially dependant]

I see VPE's large shareholder Sentient has just bought Rincon Lithium off of ADY for US$22M.
Nice to see someone has some money to spend in this market.

Nice find Serpie, they had a nice pile of cash after selling all there QGC shares to BG group!

They obviously think a head and with good timing it seems! Lithium is a good buy right now with the American tax payer about to retool there car manufacturers!

[Serpie]

According to ADY's reporting Rincon Lithium offers:

Mine Life
The rate of extraction of Lithium Chloride is planned to be 12,000 tonnes per annum, implying a mine life of more than 127 years from total reserves. The rate of extraction of Potassium Chloride is 40,000 tonnes per annum implying a mine life of more than 220 years. The Board has concluded that these mine lives are more than sufficient to justify the proposed capital expenditure.

Final Product Amounts and Revenues
The Board has computed that the reserve of 70,000 tonnes of lithium equates to 427,700 tonnes of lithium chloride or 372,400 tonnes of lithium carbonate. At current market prices of USD$4,200 for lithium chloride, the mine-life revenues from this section of the tenement are USD$1,796 million. From the potassium estimate of 1.3 million tonnes, 2.48 million tonnes of potassium chloride can be produced with a mine life revenue of USD$372 million.

So Sentient bought something which potentially offers USD$2168million in revenue for USD$22million, as long as you hang around for the 220 year mine life.

If I was a VPE holder I'd be pretty impressed that these guys owned 20% of my company. They obviously have an eye for a bargain and a long term view!

[Corporate]

If I was a VPE holder I'd be pretty impressed that these guys owned 20% of my company. They obviously have an eye for a bargain and a long term view!


Serpie I think your right. They seem very shrewd operators.

[AMR]

Very very slick. So these Sentient fellows, are they listed anywhere?

[Serpie]

I dont think so. I believe that they are a private equity fund.

Bermuda probably plays golf with them! Are you really in the UK Super B, or are you sunning yourself in the Caymans?

[airedale]

"mine life of more than 220 years."

That is a very impressive outlook. Looking backwards.....I wonder what the market was like in A.D. 1788.:)

[bermuda]

I dont think so. I believe that they are a private equity fund.

Bermuda probably plays golf with them! Are you really in the UK Super B, or are you sunning yourself in the Caymans?

Gidday Serpie,
I am sitting in this little 3rd floor apartment on Osney Island near Botley in Oxford. I wanted to come via Bermuda but we had to get here quickly for the birth of my first grandchild. That's what happens when your offspring meet Poms. It is bloody cold outside and the Poms are really whingeing and wanting pay increases.This country is way past it's used by date.At least this apartment is as warm as toast and there is a golf driving range just down the lane..each bay has a gas heater.

Am looking forward to some good announcements from VPE this week. As JK said to me, the Sentient purchase at 19.5 cents puts a floor underneath VPE and believe me Sentient are not in this for a short term play. They made a fortune out of QGC and I hope they do the same here.

Flew over on Royal Brunei. When I asked for a champagne the hostess just rolled her eyes. It was completely dry. Not even a fizzy drink!! But great service.Enjoy the summer.Cheers

[mattyroo]

Flew over on Royal Brunei.

Cheapskate!!! That airline is about 2nd worst in the world!

[Oiler]

Cheapskate!!! That airline is about 2nd worst in the world!

OOouch ;) I have to agree with you though Roo, who flys business class on a "dry airline" :eek:

Oiler

[bermuda]

OOouch ;) I have to agree with you though Roo, who flys business class on a "dry airline" :eek:

Oiler

Matty/Oiler,
Even if G-5 comes in I will still fly back on Royal Brunei. No hassles, very comfortable and great service. Plus there are plenty of watering holes on the way over. Sure beats that nightmare of flying AirNZ last year to the World Cup. I will never fly via the States again.

Let's hope we get some good VPE announcements this week.

[Financially dependant]

Matty/Oiler,
Even if G-5 comes in I will still fly back on Royal Brunei. No hassles, very comfortable and great service. Plus there are plenty of watering holes on the way over. Sure beats that nightmare of flying AirNZ last year to the World Cup. I will never fly via the States again.

Let's hope we get some good VPE announcements this week.

Don't worry about those fly by nighter's Bermuda:)

Was hoping for an announcement today but must be tomorrow now, maybe there doing some extra testing:rolleyes:!

Have a pint of Samuel Smiths for me, real beer!;)!

[shasta]

Have been remotely interested in VPE for the fact that AMR has held the options.
I know little about the company.

Below the chart ...Close to Trend Line.

http://i41.photobucket.com/albums/e264/arranging/vpe_ax07apr08_to_20dec08-1.png

AA

AA

Can you please post another chart showing candles?

TIA

[shasta]

Sure..! is this what your after?

http://i41.photobucket.com/albums/e264/arranging/VPEShasta.png

AA

Candles are pretty :D

Plus i like to see there tails & so forth...

Thanks

[The Big Ease]

can a chart tell me whats in G5?

[STRAT]

can a chart tell me whats in G5?No but it might show you what the first to find out are doing about it :D

[The Big Ease]

No but it might show you what the first to find out are doing about it :D

ehh so would the shareprice.
anyhow, not starting an argument. i like charts, they have their place in analysis.

[airedale]

Matty/Oiler,
Even if G-5 comes in I will still fly back on Royal Brunei. No hassles, very comfortable and great service. Plus there are plenty of watering holes on the way over. Sure beats that nightmare of flying AirNZ last year to the World Cup. I will never fly via the States again.

Let's hope we get some good VPE announcements this week.

Hi Bermuda, re flying via US....the news today is that everyone, even transit passengers, need a new visa as from next month. Electronically available apparently, but as you say why bother going that way. Enjoy your time with the grandchild.

[bermuda]

Hi Bermuda, re flying via US....the news today is that everyone, even transit passengers, need a new visa as from next month. Electronically available apparently, but as you say why bother going that way.

Hi Airedale,
Yeah I read somewhere recently that their airport procedures had really cost them a lot of business ( tourism ) and that they were going to improve things. But as you say. why bother.

Have been watching the oil price today. Somethings up. Hope we get some good VPE news today. Poor old OZL. Thank goodness VPE has its ducks in a row. Cheers

[Paddie]

Hi Airedale,
Yeah I read somewhere recently that their airport procedures had really cost them a lot of business ( tourism ) and that they were going to improve things. But as you say. why bother.

Have been watching the oil price today. Somethings up. Hope we get some good VPE news today. Poor old OZL. Thank goodness VPE has its ducks in a row. Cheers


Hi Bermuda,

I am interested to know why you suspect something is up? I did notice that itwent up overnight.

Cheers
Paddie

[bermuda]

Hi Bermuda,

I am interested to know why you suspect something is up? I did notice that itwent up overnight.

Cheers
Paddie

Paddie,
A lot of things go through this little brain of mine. Dont forget I predicted something like $US150 or so by the end of the year. Anyway, as MacDunk would say, the pendulum has swung too far and....
The USA consumption is rising again
Alternative energy programs are on the back burner
Oil production/exploration programs are on the back burner
China is lending money to Brazil to get on with development. I mean...why????
The Canadian Oil Sands are almost stuffed, both economically and if you look closely enough...environmentally
Russia has plateaued
The IEA has admitted Peak Oil and is forecasting a natural decline of 9.1%
Mexico is a cot case.
The North Sea is past its used by date.
Venezuela and Iran are staring at civil unrest.
The Caspian projects keep getting delayed
Opec consumption ( internal ) keeps on rising...threatening their exports.

...and the mighty Ghawar keeps on getting watered down.

Something has got to give.....and there has been a little lift in the oil price and a bit of confidence in some of the oilers.

But hey, jimho.

LNG, ex Gladstone is my dream.

[Financially dependant]

Cool yes candles are pretty :D
Let me know if you want any other charts posted or anything else.

AA

Thanks for the charts AA!

If we get a good ann out today (growler 5 >200 bpd) then the sp should break the down trend and hope for a nice little run;).

[Corporate]

Thanks for the charts AA!

If we get a good ann out today (growler 5 >200 bpd) then the sp should break the down trend and hope for a nice little run;).


are we expecting an annoucement today?

[Financially dependant]

are we expecting an annoucement today?

12 days after G5 spud was yesterday!

[Financially dependant]

Oil shows at G5!!

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169907

24m oil column:)

G4 18m oil column
G3 19m oil column and tested 1673 bopd...

Logging & testing to confirm

[bermuda]

Oil shows at G5!!

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169907

24m oil column:)

G4 18m oil column
G3 19m oil column and tested 1673 bopd...

Logging & testing to confirm

Hi FD,
This initial result is better than I thought. Better wait for confirmation though. Growler has really growled big time. Bookable reserves coming up. Perhaps we should drill another, G-6, to test the Eastern extremities! G-5 still seems to be in the thick of it.

Eddie , at ITC ( 40% partner ), will be loving this. And so should we.

[Financially dependant]

Hi FD,
This initial result is better than I thought. Better wait for confirmation though. Growler has really growled big time. Bookable reserves coming up. Perhaps we should drill another, G-6, to test the Eastern extremities! G-5 still seems to be in the thick of it.

Eddie , at ITC ( 40% partner ), will be loving this. And so should we.

Hi Super B,

Yes fingers crossed for confirmation! That's a good idea to drill G-6, you can almost draw a line on the map with G3, G4 & G5 all in a row so put G6 on the eastern end?
I don't know much about geo-tech but is it possible to have a trench of permeable Birkhead sand in a line?

[mattyroo]

Bermuda - I think you might be right about the oil price starting to come back... I reckon the recent strength in the USD has been a bit of a dead cat bounce, they still need to print a load of money yet for all their bail-outs.

Any weakness in the USD will start to see a rally in oil. My guess, to about $65-$75. Earlier I was picking oil to hit the low $30's, I don't expect this to happen now.

Every oil company in the world will be doing everything they can (limiting supply) to get that oil price back to where they need it - at a suitable level to a) make money and b) fund future developments.

[bermuda]

Hi Super B,

Yes fingers crossed for confirmation! That's a good idea to drill G-6, you can almost draw a line on the map with G3, G4 & G5 all in a row so put G6 on the eastern end?
I don't know much about geo-tech but is it possible to have a trench of permeable Birkhead sand in a line?

This Fairway is starting to get so wide I think it would be impossible to hit one out of bounds.

Yes it is possible to have a trench of permeable Birkhead sand in a line. But in this case it's a whole fairway. And in this faiway there are good lies and tight lies. And that's the truth.
We had better wait until we get the DST flow test. This is good news for all VPE shareholders. No wonder Sentient bought in...but their bigger prize (and ours ) is with CSG.

[The Big Ease]

whats happening with wirraway?

[shasta]

whats happening with wirraway?

VPE - New SSH :)

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=169917

[bermuda]

whats happening with wirraway?

I think Wirriway might be renamed Growler. Only joking but it sure looks like it is connected.
This stock is starting to attract some decent attention. And why not? Have a slow read of their Annual Report. Stacked full of goodies.

[The Big Ease]

elphingtone becomes a sub.

this is starting to heat up.
mysterious placing last week to what turns out to be a substantial holder.

JK must know his company is being measured...
i'd take $1 in this market ;)

[Corporate]

I think Wirriway might be renamed Growler. Only joking but it sure looks like it is connected.
This stock is starting to attract some decent attention. And why not? Have a slow read of their Annual Report. Stacked full of goodies.

Something is happening with VPE. And i'm liking it. I had, had thoughts of
dumping my VPEO the other day but that is now very far from my mind!

[The Big Ease]

yeah, there are some serious players at the table.
im wondering what they will order from the menu.

the best possible result imo would be:
a genuine program of acceleration to prove up the csg reserves in pl 171 and 574.
takeover at the price per gjl paid for the other deals or the valuation bermuda put on hotcopper ie 2.8ish. to be honest, anything over and above 1.50 would be dream.

but i just dont see that happening. i think they will pay enough to get shareholders excited, but not enough to fairly value the csg permits.
i think it will be takenover at a few multiples of the current price, unless elhpinestone and sentient are serious blocking interests and insist on full valuation.

the good thing is that vpe has the cash to see either path to completion. it should have approx 20 mill in cash now with 6-7 mill from oil p.a.

they better get their ar$e$ moving. i see no reason why they shouldnt be able to speed things up now. i just hope vpe's history doesnt repeat.

Mr B,
i know you have confidence in JK. i hope you are right.

[Financially dependant]

yeah, there are some serious players at the table.
im wondering what they will order from the menu.

the best possible result imo would be:
a genuine program of acceleration to prove up the csg reserves in pl 171 and 574.
takeover at the price per gjl paid for the other deals or the valuation bermuda put on hotcopper ie 2.8ish. to be honest, anything over and above 1.50 would be dream.

but i just dont see that happening. i think they will pay enough to get shareholders excited, but not enough to fairly value the csg permits.
i think it will be takenover at a few multiples of the current price, unless elhpinestone and sentient are serious blocking interests and insist on full valuation.

the good thing is that vpe has the cash to see either path to completion. it should have approx 20 mill in cash now with 6-7 mill from oil p.a.

they better get their ar$e$ moving. i see no reason why they shouldnt be able to speed things up now. i just hope vpe's history doesnt repeat.

Mr B,
i know you have confidence in JK. i hope you are right.

TBE, my confidence lays in the fact we have serious investors with blocking positions. Sentinal et al, so as QGC a valuation was prepared which enabled a take over to happen, I expect the same with VPE.
The timing of take over is when some CSG is proven (to help meet BG financial obligations) up but not all to get cheaper price.

[bermuda]

yeah, there are some serious players at the table.
im wondering what they will order from the menu.

the best possible result imo would be:
a genuine program of acceleration to prove up the csg reserves in pl 171 and 574.
takeover at the price per gjl paid for the other deals or the valuation bermuda put on hotcopper ie 2.8ish. to be honest, anything over and above 1.50 would be dream.

but i just dont see that happening. i think they will pay enough to get shareholders excited, but not enough to fairly value the csg permits.
i think it will be takenover at a few multiples of the current price, unless elhpinestone and sentient are serious blocking interests and insist on full valuation.

the good thing is that vpe has the cash to see either path to completion. it should have approx 20 mill in cash now with 6-7 mill from oil p.a.

they better get their ar$e$ moving. i see no reason why they shouldnt be able to speed things up now. i just hope vpe's history doesnt repeat.

Mr B,
i know you have confidence in JK. i hope you are right.

Good post TBE,
In this market the banks wont approve a takeover unless the subject party has proven reserves. That is why I am picking that BG is going to move quickly to prove up VPE's reserves. And of course that means that VPE have to raise some more dosh. Which they have now done courtesy of the USA sales and Mr Elphinestone ( and others ). So instead of rolling over ( like RPM did...see QGC takeover of Roma ) VPE are in this to extract maximum value before the takeover from BG gets put on the table.

So get in now and get set to realise the enormous potential that VPE offers. BG let too many months roll by chasing Origin which in the end was won by Conoco Philips. BG really need to get cracking. They have signed LNG contracts to fulfil.

And as an aside, let's not forget Growler. This field is getting bigger by the day.

[Corporate]

Good post TBE,
In this market the banks wont approve a takeover unless the subject party has proven reserves. That is why I am picking that BG is going to move quickly to prove up VPE's reserves. And of course that means that VPE have to raise some more dosh. Which they have now done courtesy of the USA sales and Mr Elphinestone ( and others ). So instead of rolling over ( like RPM did...see QGC takeover of Roma ) VPE are in this to extract maximum value before the takeover from BG gets put on the table.

So get in now and get set to realise the enormous potential that VPE offers. BG let too many months roll by chasing Origin which in the end was won by Conoco Philips. BG really need to get cracking. They have signed LNG contracts to fulfil.

And as an aside, let's not forget Growler. This field is getting bigger by the day.

Nice point Bermuda. Sum'd it up nicely. Do you have any links/resources to read into BG's obligations for LNG?

[bermuda]

Nice point Bermuda. Sum'd it up nicely. Do you have any links/resources to read into BG's obligations for LNG?

They won the contract to supply the new 'Singapore' LNG supply hub. Woodside were...and still are... absolutely peeved. So BG better perform. And their bid for Origin was meant to be part of it. They put in a very good offer for Origin but Grant King saw them off and got a better offer from Conoco Philips.

BG have a lot more work to do. These commitments are signed and binding. They urgently need proven reserves. They have lost a lot of time but made up a bit by taking out QGC. But they need more.

Disclaimer These are only my opinions and should only be taken as such. Please do your own research.

[The Big Ease]

what do BG need the bank's approval for?
the lng trains at gladstone?

i would have thought they would have plenty of cash to swallow vpe without bank finance.

why wouldnt they be able to buy vpe out now with their own cash, prove up the resource and then get the bank's approval to finance the trains?

im sure they have a spare 500m (hopeful i know ;-) ) to buy vpe now.

if they had the personnel, money etc and the certifiers were on hand to do the testing, how quickly could this be finalised? 3 months? 6 months?

i just wish vpe would spell out their intentions. its really unprofessional imo.

[OutToLunch]

Sorry guys but I still can't help but feel suspicious at what's brewing, as plausible as the speculation might be. The QGC connection to each of the large shareholders smells a bit ratty and the skeptic in me would like to know just what QGC are really up to -- are we seeing a buildup of QGC's mates on the register. As you say we really need VPE to come clean with some kind of statement regarding the latest placement and what it's intended for, especially as it came as a surprise, and especially as it led to the appearance of another QGC connection in the SSH list.

Hope my suspicions are unfounded of course but after seeing how the directors of Sapex recently handed over their backsides on a plate to LNC, denying shareholders a huge growth story in the process, I just wonder what VPE's management are really up to behind the scenes and whether we VPE/VPEO holders stand to be ripped off in a similar way.

Meanwhile at least Growler is providing more good news....

[bermuda]

Sorry guys but I still can't help but feel suspicious at what's brewing, as plausible as the speculation might be. The QGC connection to each of the large shareholders smells a bit ratty and the skeptic in me would like to know just what QGC are really up to -- are we seeing a buildup of QGC's mates on the register. As you say we really need VPE to come clean with some kind of statement regarding the latest placement and what it's intended for, especially as it came as a surprise, and especially as it led to the appearance of another QGC connection in the SSH list.

Hope my suspicions are unfounded of course but after seeing how the directors of Sapex recently handed over their backsides on a plate to LNC, denying shareholders a huge growth story in the process, I just wonder what VPE's management are really up to behind the scenes and whether we VPE/VPEO holders stand to be ripped off in a similar way.

Meanwhile at least Growler is providing more good news....

Out to Lunch,

Sentient are an Independent Group. I have being saying this for ages and I suppose I will have to say it again.

Agree, JK needs to explain the latest placement.

[OutToLunch]

Out to Lunch,

Sentient are an Independent Group. I have being saying this for ages and I suppose I will have to say it again.

Agree, JK needs to explain the latest placement.

Independent maybe, but remember that one of Sentient's partners, Peter Cassidy, is a former director of QGC. As is Dale Elphinstone, (presumably) VPE's latest SSH courtesy of the mystery placement. Might be nothing in it but I'm still suspicious that we shareholders don't know the full story here. Time will tell... the ball's rolling, we know that much!

>
Queensland Gas directors retire



Source: News BitesQueensland Gas Company Ltd advised that Peter Cassidy, Richard Cottee and Dale Elphinstone retired as directors and Vincent De Santis and Michau de Leeuw ceased to be directors on November 27, 2008. They hold no securities.

[The Big Ease]

well someone likes what is happening.
popped 30K to buy at 18 on open.

[OutToLunch]

well someone likes what is happening.
popped 30K to buy at 18 on open.

Something's going on alright, just hit 19..

[Financially dependant]

Have been remotely interested in VPE for the fact that AMR has held the options.
I know little about the company... But it must have potential.

Below the chart ...Close to Trend Line.

http://i41.photobucket.com/albums/e264/arranging/vpe_ax07apr08_to_20dec08-1.png

AA

I think we might be seeing a break out today and good volume???

No doubt the test results will cement the trend!

Also seems to be breaking 60,90 & 120 MA

[Ketel One]

http://www.asx.com.au/asxpdf/20081215/pdf/31f60zf4dmvl62.pdf

[The Big Ease]

lets get a bit of perspective about the qgc links.

they are all ex qgc investors or directors who are now personally invested in vpe.

furthermore, qgc is no longer a relevant entity. It is now BG. none of these former qgc associates could be seriously considered associates or partners of BG.
I cant see any benefit for these ex-qgc associates to tow the BG line at all.

why would they put up their personal capital to benefit a third party corporate they no longer have any business association with? it seems illogical that they would.

so sentient, elphinestone and patten have moved from qgc as investors/directors, to vpe. with their industry knowledge over many years, they have had a look around and thought vpe offers the best upside potential.

for small shareholders, i think this is a good thing.
they wont roll-over to BG. it is not in their interests to do so. sentient were investors in qgc from years ago, so to assume they are a conduit for a BG who came on the scene very recently is a bit far fetched IMO.

if the qgc related associates takeover the company, i think its even better for shareholders as they have a better track record than JK. the only thing that would be missing is richard cotteee from the mix hehe. i would welcome that!


it would not be in anybody's interests to sell vpe short.
even if JK had RPM tendencies to rollover, the others would not allow it and have a big enough stake to block such a deal.

ex-qgc associates do not equal BG.
but i sure as hell would like a few questions answered about what all that money is going to be used for.

[suntboy]

Interesting to read today where BG has suspended a senior exec and his funds have been frozen by ASIC pending an investigation into his trading leading up to the QGC deal

[bermuda]

Interesting to read today where BG has suspended a senior exec and his funds have been frozen by ASIC pending an investigation into his trading leading up to the QGC deal

Obviously nothing to do with VPE but your comment is interesting. You have to be so careful. Good to see the ASIC are onto this sort of behaviour.

It was good to see Denis Patten ( Director of VPE ) buying VPE on the market just prior to the recent placement. That is a sign of integrity...and good judgement.

[bermuda]

Oil and Gas Weekly have spelt out the recent placement pretty emphatically. They were talking about Dale Elphinestone's investment ( and others )
into VPE. A key statement was

"What does this mean?
It means a huge vote of confidence in VPE's coal seam gas acreage by people who have industry knowlwedge and insider information by virtue of QGC's investment in VPE. The press announcement came out late on Friday. We will be watching for some gains in VPE early next week."l

Sounds pretty good to me. I think these recent investors know just where VPE is headed.

We will get an announcement out about the placement this week.

[The Big Ease]

MR B.

you wouldnt believe it, but after reading your HC post, i googled "oil and gas weekly elphinstone VPE" and your last post came up in the top searches already!

that would be the direction i would be guessing at too.
i dont think JK has done VPE favours through his recent announcements.
take the G5 result yesterday as another example.
either he doesnt much care or isnt very good at selling the message.

VPE is a good story. It should be higher just on the Oil potential, let alone the CSG.
at these prices, you get the current oil flows priced at 7 times earnings and you pay nothing for the CSG acreage or even the potential for further oil flows!

2 bucks is possible in the next twelve months, but you just wonder sometimes.

[Financially dependant]

Yes TBE I have got to agree, and why didn't they flow test???

[OutToLunch]

Fair enough, I take the point that while these guys were formerly associated with QGC, they have since moved on to new things with VPE being one of their picks. Perhaps I need to pack away my radar dish and stop being so damn suspicious of anything that moves. I wouldn't be so paranoid if everyone wasn't out to get me. :D

[Financially dependant]

Good couple of days trading, volumes way up and ssh's coming thick and fast..

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=169986

[airedale]

Yes, FD, volume is up but not really very great for a 19 cent stock. It has broken a couple of trend lines, but perhaps we need a couple of days in the millions traded to put some real wind in the sails.
Does anyone know anything of Mr Bryant the new SSH?

[bermuda]

Yes, FD, volume is up but not really very great for a 19 cent stock. It has broken a couple of trend lines, but perhaps we need a couple of days in the millions traded to put some real wind in the sails.
Does anyone know anything of Mr Bryant the new SSH?

Hi Airedale,
His name is Robert Bryan and he was the former Chairman of QGC. Just GOT to be good news eh!!!


Good to see Sentient now on the Board.Cheers

[The Big Ease]

great news Mr. B.
great news!

[OutToLunch]

VPE looking good today despite a continued drop in oil prices. Got gas? ;)

[Dr_Who]

I am wishing to Santa that VPE sp comes down so I can accumulate more shares. :eek:;)

[bermuda]

I am wishing to Santa that VPE sp comes down so I can accumulate more shares. :eek:;)

My good Doctor,
There is no use crying over spilt milk. Just clean the mess up and grab the bottle firmly in both hands.

If you have seen what has happened to Pure ( PES ) you will see that you still have plenty of time....and the same goes for BOW.

Well done with what you have...
MERRY CHISTMAS.

[Corporate]

Whats happening with G5? When do we expect to here flow rates?

[The Big Ease]

thats a nice price PES got.
basically paying the current SP and giving some free AOE shares to go with it.

i wonder if VPE is basking in reflected glory or if there will be action on its stock as well.

[bermuda]

thats a nice price PES got.
basically paying the current SP and giving some free AOE shares to go with it.

i wonder if VPE is basking in reflected glory or if there will be action on its stock as well.

You are a tease big ease.

You and I and know it is only a matter of time.

Going to be a great 2009.

[The Big Ease]

You are a tease big ease.

You and I and know it is only a matter of time.

Going to be a great 2009.

Mr. B,

I respect your knowledge in this area and I too think VPE has tremendous potential. But you said the same thing about 2008. Some solid ground work has occured, but nothing tangible to boost reserves or the SP.

Almost every other small cap csg player has surpassed vpe in the last 12 months from similar positions. VPE has sat on a pile of cash instead of expediting their development program. In terms of permits, little has changed.

QGC/BG and VPE have sat on their hands for a good few months now regarding pl 171 and the neighbouring permit they share. It is time they outlined their plans for the shares permits and put together a timeline for delivery.

There is simply no excuse now. They have the cash, the have the technical backing and its time.

I think you would agree given you are holding a significant number of options expiring in 12 months. I assume you have had some reassurances from JK about what is going on even if no details have been forthcoming. I only wish he would formalise those and spell it out to the market with clear commitments to deliver. At the moment, we only have blue sky potential and are left to hope they do something with these quality assets.

Now that the QGC and Sentient guys are on board, I am confident of things moving along more briskly, but that is just an assumption on my behalf. I just want them to spell it out. Im sure you can understand this.

It is pretty basic stakeholder management IMO and VPE have not done this very well. You don't just raise 6 million dollars, diluting shareholders to get another 2 associated investors over 5% and then not explain that to the market. Especially when you already hold 17m on hand with a further 5-7m net revenues from oil.

I can join the dots as well, but I shouldn't have to. With VPE's track record over the years, they shouldn't let it come to that either.

[KentBrockman]

Mr. B,
... It is pretty basic stakeholder management IMO and VPE have not done this very well. You don't just raise 6 million dollars, diluting shareholders to get another 2 associated investors over 5% and then not explain that to the market. Especially when you already hold 17m on hand with a further 5-7m net revenues from oil.

I can join the dots as well, but I shouldn't have to. With VPE's track record over the years, they shouldn't let it come to that either.


Well said!

And the tone of yesterday's 708 notice was also rather unappreciated. Sounded almost like 'since someone had the audacity to ask....', and then still didn't provide an adequate explanation for the placement.

[bermuda]

Well said!

And the tone of yesterday's 708 notice was also rather unappreciated. Sounded almost like 'since someone had the audacity to ask....', and then still didn't provide an adequate explanation for the placement.

Well I did ask JK by phone. And I did ask him to read the HC files and respond appropriately.
I will ask him again because I am also with you guys that we need an explanation.

You won't believe this but my email address doesnt receive emails direct from JK. I have to get them via my brother. He is a top 20 shareholder.I am about 22nd but I do have 2 million options. Just beautiful bearing what is coming up.

But don't get paranoid about VPE. Everything is on track for a simply fantastic year. Have a look and see what happened to PES. And then have a read of who is on the Register.

Probably one of the best weeks for VPE yet.

MERRY CHRISTMAS to all.

[KentBrockman]

But don't get paranoid about VPE. Everything is on track for a simply fantastic year. Have a look and see what happened to PES. And then have a read of who is on the Register.

Probably one of the best weeks for VPE yet.

MERRY CHRISTMAS to all.

Hopefully you are correct. According to the AFR consolidation in the CSG sector in Queensland is over though....

THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

--Arrow Energy's A$673 million acquisition yesterday of Queensland coal-seam gas (CSG) player Pure Energy Resources (PES.AX) marks the end of major consolidation in the state's CSG sector for now, according to observers. "There isn't a huge amount of coal seam gas [projects] in Queensland left to pick over," said Arrow (AOE.AX) managing director Shaun Scott. The corporate activity is now expected to shift to the CSG sector in neighbouring New South Wales, where AGL Energy this month secured a A$370 million lease on a major CSG ground. Page 9.

[bermuda]

Hopefully you are correct. According to the AFR consolidation in the CSG sector in Queensland is over though....

THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

--Arrow Energy's A$673 million acquisition yesterday of Queensland coal-seam gas (CSG) player Pure Energy Resources (PES.AX) marks the end of major consolidation in the state's CSG sector for now, according to observers. "There isn't a huge amount of coal seam gas [projects] in Queensland left to pick over," said Arrow (AOE.AX) managing director Shaun Scott. The corporate activity is now expected to shift to the CSG sector in neighbouring New South Wales, where AGL Energy this month secured a A$370 million lease on a major CSG ground. Page 9.

Hi Kent,
This is Oil Talk, pardon me, Gas Talk. Let me put it this way. I used to be a Planning Manager for BP. No big deal. But it did tell me that these Majors plan well ahead.( 10-15-20 years ) Consider this:

1. Peak Oil is upon us
2. Climate change is upon us
3. Rudd wants CSG 'clean' fired power stations.
4. Gladstone will become a 'major' LNG port in about 10-15 years. More reliable than Qatar as one knowledgable poster recently remarked.
5. There are about double the number of LNG tankers being built and on order as there are floating.
6. Oil goes a lot higher.
7. BG has a reasonable stake in VPE and I see it increasing. Like a full takeover.
8. The Sentient Boys will demand a premium price
9. The QGC Boys will demand the same.
2 (b) Aussie needs more indigenous energy...urgently

I will be buying more. And BOW fits in to this strategy very well also. Remember Arrow have a stake ( albeit small ) in BOW.

Merry Christmas All.

[Trent]

Mr. B,

I respect your knowledge in this area and I too think VPE has tremendous potential. But you said the same thing about 2008. Some solid ground work has occured, but nothing tangible to boost reserves or the SP.

Almost every other small cap csg player has surpassed vpe in the last 12 months from similar positions. VPE has sat on a pile of cash instead of expediting their development program. In terms of permits, little has changed.

QGC/BG and VPE have sat on their hands for a good few months now regarding pl 171 and the neighbouring permit they share. It is time they outlined their plans for the shares permits and put together a timeline for delivery.

There is simply no excuse now. They have the cash, the have the technical backing and its time.

I think you would agree given you are holding a significant number of options expiring in 12 months. I assume you have had some reassurances from JK about what is going on even if no details have been forthcoming. I only wish he would formalise those and spell it out to the market with clear commitments to deliver. At the moment, we only have blue sky potential and are left to hope they do something with these quality assets.

Now that the QGC and Sentient guys are on board, I am confident of things moving along more briskly, but that is just an assumption on my behalf. I just want them to spell it out. Im sure you can understand this.

It is pretty basic stakeholder management IMO and VPE have not done this very well. You don't just raise 6 million dollars, diluting shareholders to get another 2 associated investors over 5% and then not explain that to the market. Especially when you already hold 17m on hand with a further 5-7m net revenues from oil.

I can join the dots as well, but I shouldn't have to. With VPE's track record over the years, they shouldn't let it come to that either.

Big Ease
I fully agree with you except possibly your assumption that the CSG assets are all quality assets. I remain a bit sceptical about PL171 and don't yet have reason to believe that VPE's other CSG assets are up there with the likes of Dingonose. I am utterly amazed that in this financial/economic environment management isn't bending over backwards to provide stakeholders with information. I am becoming a little tired of hearing about all this potential and wish that maangement would get off their butts and provide the shareholders with a realistic programme of work towards certification. It seems to me that given the amount of diltution that has taken place, the options may represent the best "option" for VPE.
DYOR

Cheers
T

[bermuda]

Big Ease
I fully agree with you except possibly your assumption that the CSG assets are all quality assets. I remain a bit sceptical about PL171 and don't yet have reason to believe that VPE's other CSG assets are up there with the likes of Dingonose. I am utterly amazed that in this financial/economic environment management isn't bending over backwards to provide stakeholders with information. I am becoming a little tired of hearing about all this potential and wish that maangement would get off their butts and provide the shareholders with a realistic programme of work towards certification. It seems to me that given the amount of diltution that has taken place, the options may represent the best "option" for VPE.
DYOR

Cheers
T

TBE/Trent and others,
Merry Christmas to you all.

Yes , I did say 2008 was going to be a great year for VPE and I think it has been. Particularly when we ran into the biggest depression mankind has ever struckt and which is still being played out and will continue through 2009.

VPE in 2008

1. Increased it's sp by over 50%. ( Woodside down 66% )
2. Attracted QGC onto its register
3. Attracred Denis Patten ( ex founding Chairman of QGC ) as Chairman of VPE
4. Attracted Sentient group onto Register and onto VPE Board
5. Attracted QGC investor Elphinstone onto Register
6. Attracted Robert Bryan ( previous Chairman of QGC ) onto Register
7. Attracted BG onto register
8. Found significant additional oil at Growler
9. Started to prove up Don Juan reserves
10. Has recognised the value of its CSG permits and has raised sufficient cash to develop these with BG as a partner. ( repeat ..partner..we aint going to roll over like RPM )
11. Remains grossly undervalued

I could go on a lot more and even trot out about 10 pages on why the International LNG market is coming to Queensland. The figures and the interest are quite staggering. Even NSW will boom.

I am dreaming of a white Christmas!!! but currently in Oxford it is quite calm and comparatively mild.

Merry Christmas to all. Value all your opinions. And I do agree VPE needs to educate and be more forthcoming to it's shareholders. I will be continuing to work on that in the New Year.

[The Big Ease]

Big Ease
I fully agree with you except possibly your assumption that the CSG assets are all quality assets. I remain a bit sceptical about PL171 and don't yet have reason to believe that VPE's other CSG assets are up there with the likes of Dingonose. I am utterly amazed that in this financial/economic environment management isn't bending over backwards to provide stakeholders with information. I am becoming a little tired of hearing about all this potential and wish that maangement would get off their butts and provide the shareholders with a realistic programme of work towards certification. It seems to me that given the amount of diltution that has taken place, the options may represent the best "option" for VPE.
DYOR

Cheers
T

roma was pretty much a pl 171 company.
qgc did not take it over because they were septical about the value/potential of that permit. vpe also has a neighbouring permit. when you take a look at the map, the neighbouring permits are actually quite small in acregae but very rich in gas. they are all bunched together. from memory, arrow has a significant project right beside it as well.

i think pl 171 is a high probability outcome.

thanks for your well wishes B.
same to you and yours.


edit: just going over this thread again. seems the very same things were said after the qgc placement of 9m dollars. what has vpe done in 6 months with that money in the meantime? not much.

i can only assume the new placements would not have been taken up by the ex-qgc guys if they werent certain that there was action ahead either in terms of development or transactions. but it is concerning that vpe has just sat on that money in that time without putting it to use.

[airedale]

http://i361.photobucket.com/albums/oo59/gthossack/vpe_ax_price_weekly02jan92_to_29jul.png

[The Big Ease]

c.s.g.

that doesnt have a great history in australia either.
things can change. i suspect they have, with the influential investors on board.

[airedale]

c.s.g.

that doesnt have a great history in australia either.
things can change. i suspect they have, with the influential investors on board.

Seasons greetings, TBE, "influential investors" yep that's us. LOL:):)

Discl: Recent buyer and holding VPE

[airedale]

I wonder what caused all the excitement back in late '96. $2.40:D Heady stuff. Perhaps someone with a longer memory than mine can enlighten us.

[The Big Ease]

someone just bought 550,000 vpe at 22cents.
might it be BG or sentient getting back to 19%?

[Financially dependant]

http://i361.photobucket.com/albums/oo59/gthossack/vpe_ax_price_weekly02jan92_to_29jul.png

Hi airedale, interesting charts!

Big finish today, did we break the major resistance levels???

Cheers FD

[airedale]

Hi FD, just looking back 6 months, VPE fell below 23 cents in early July. then failed to break above that level twice in September.
So this break above 23 cents looks positive. A retracement to 23 cents and then another move upwards would be very positive.

[Ketel One]

Hi FD, just looking back 6 months, VPE fell below 23 cents in early July. then failed to break above that level twice in September.
So this break above 23 cents looks positive. A retracement to 23 cents and then another move upwards would be very positive.

Chart version:
http://www.iforce.co.nz/i/fa5b27067593cb1a9b1bb1c2c11e3475.png

Definitely looking positive.

[Financially dependant]

Hi FD, just looking back 6 months, VPE fell below 23 cents in early July. then failed to break above that level twice in September.
So this break above 23 cents looks positive. A retracement to 23 cents and then another move upwards would be very positive.

Thanks airedale & Ketel one,

Resistance becoming support would be great news indeed and the kind of foundation the VPE sp needs to kick on. All the fundamentals seem in place, share register looking great, threat of a takeover looming and further CSG consolidation in progress.

[The Big Ease]

so what are we to make of VPE's recent rise?
most csg plays have seen ~100% increases in their SP's within the last 4-6 weeks alone.
is it a matter of "rising tides..." or is there something brewing for VPE in the short term?

[Financially dependant]

so what are we to make of VPE's recent rise?
most csg plays have seen ~100% increases in their SP's within the last 4-6 weeks alone.
is it a matter of "rising tides..." or is there something brewing for VPE in the short term?

We have a break out on the charts so looking for higher sp in the short time, a few traders might get interested but I think it is a rising tide! All that BG, Shell et al money via small share holders finding a new home in the CSG sector.

The proof of the pudding is if the sector stabilises and our boat keeps rising (maybe major share holders increasing there holding back to max.).

As usual there is always something brewing with VPE:).

[The Big Ease]

bow and vpe continue to move in lock-step with each other.
in any case, it has been a good couple of weeks for both and the sector in general.

lets see how it pans out from here.

[Financially dependant]

Interesting day today with good volume, plenty of selling (maybe taken recent profit?) but still up on the day.

I would like to know if it's few or many buyers??

[shasta]

Interesting day today with good volume, plenty of selling (maybe taken recent profit?) but still up on the day.

I would like to know if it's few or many buyers??

Total shares traded as per stockness 910,504

50 Trades (Av size trade 18,210 shares), no large parcels (> 200k)

VWAP 26.58c, VPE closed at 27c

[Financially dependant]

Total shares traded as per stockness 910,504

50 Trades (Av size trade 18,210 shares), no large parcels (> 200k)

VWAP 26.58c, VPE closed at 27c

Thanks shasta,

I assume we can deduct the major share holders are not rebuilding there holdings up to the levels pre-dilution??

I guess shh ann's will verify!

[shasta]

Thanks shasta,

I assume we can deduct the major share holders are not rebuilding there holdings up to the levels pre-dilution??

I guess shh ann's will verify!

I think you were on the right track re profit taking, i'd imagine a few short term traders were closing positions to avoid any nasties from the DOW over the weekend!

Looks like mostly retail investors to me?

[airedale]

Strong run up lately. Should be due for a pull-back....but I would be happy to be proved wrong.:)http://i474.photobucket.com/albums/rr105/airedale99/VPE.jpg

[Financially dependant]

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=170175

Ann out, money for the boys??

[shasta]

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=170175

Ann out, money for the boys??

Yup, it says on page 1 to seek advice from an accountant/advisor.

As an accountant i'll explain it all in layman's terms...;)

It's the annual hand out (aka "snouts in the trough")

[KentBrockman]

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=170175

Ann out, money for the boys??

Yep, my thoughts exactly.

The exercise price for the options is particularly nice: they might be in the money tomorrow!

[Ketel One]

Hi FD, just looking back 6 months, VPE fell below 23 cents in early July. then failed to break above that level twice in September.
So this break above 23 cents looks positive. A retracement to 23 cents and then another move upwards would be very positive.

If the SP doesn't drop any further it looks like this is what we'll have (resistance becoming support): http://iforce.co.nz/i/8b101d9aa5560d4a09d9cac292f412e8.png

Will be interesting to see where it goes today!

[OutToLunch]

My holding in VPE/VPEO is but a drop in the ocean.. but we shareholders need to make our anger known by voting against this latest option handout. Surely if JK and his cronies are so confident of the share price being much higher than it is now before too long, they'd have set the conversion price to something much higher than 25c. Say 75c or even $1... after all, the options are dated January 2012 for Christ's sake. Their claim that issuing 25c options provides them with 'incentive' to add value is pretty hollow given that the options are almost in the money already, and carry significant time value (>3 years) to boot.

:mad::mad::mad:

[The Big Ease]

i struggle to understand how bg sentient and byrne could possibly support this given their recent purchases.

either they are happy with what is around the corner or something just doesnt make sense. why would they be happy with their shareholdings being diluted with such low hurdles?

[OutToLunch]

I agree and their response as major shareholders will be very interesting. Either they're as 'independent' as we'd like them to be and they'd vote against it, or else they're nice and cosy with the management and will go along with it. If the latter it would be similar to how the Sapex board handed over their freshly-buttered bums on a plate to Linc when the call came -- no resistance, nothing. It will be interesting to see what VPE's major holders do now that shareholders are being asked to bend over once again.

An alternative view is that the major holders like what's coming up so much that a few % worth of dilution won't matter? Bit of a long shot that one.

[OutToLunch]

Here's a slightly modified proxy form. I'm tempted to send it in, with the appropriate box ticked...

[airedale]

VPE pulled back. I had a buy order in for more at .20 which was partly filled. Still looks OK on the weekly chart despite shareholder discontent with management's handout to themselves.
Has anyone had the paperwork for voting at the meeting yet. Or can it be downloaded from somewhere.
http://i474.photobucket.com/albums/rr105/airedale99/VPEWEEKLY.png

[The Big Ease]

so what was all that about then? 125% rise in a couple of weeks on good volume and then it just dies.

she moves in mysterious ways. interesting to see bow moved in lockstep with vpe all the way through. they would have a near perfect correlation.

[KentBrockman]

she moves in mysterious ways. interesting to see bow moved in lockstep with vpe all the way through. they would have a near perfect correlation.

Yes, seems that way.

However, I am thinking of switching to BOW.

Similar story (minus Growler though), but less baggage, not a history of disappointment, probably more competent management (I mean, I don't really know that, but it could hardly be less competent than VPE).

[OutToLunch]

She karked it when the announcement came out about management's plans to line their own pockets with in-the-money options At which point I suspect the sentiment went very quickly from 'perhaps management have changed their spots and won't rip shareholders off like they did repeatedly in the past' to 'stuff them, looks like nothing's changed at all'. :(

I still hold, but my enthusiasm for VPE has cooled a bit.

[Financially dependant]

She karked it when the announcement came out about management's plans to line their own pockets with in-the-money options At which point I suspect the sentiment went very quickly from 'perhaps management have changed their spots and won't rip shareholders off like they did repeatedly in the past' to 'stuff them, looks like nothing's changed at all'. :(

I still hold, but my enthusiasm for VPE has cooled a bit.

Total agree, I sold my head shares on that announcement but kept my options. It will be interesting to see how the sp goes after the meeting and vote. I will be voting against it but haven't received my form yet.

My theory is that it will not be taken over until gas is proven up so have time to trade else were and maybe look at up'ing my options in the future & at least after the vote (I am interested in what the big holders do).

[The Big Ease]

they must be on holidays still at vicpet.

[airedale]

Got the papers yesterday for voting against the directors' hand-out to themselves. :(
Will post them back tomorrow.

[ronthepom]

Got the papers yesterday for voting against the directors' hand-out to themselves. :(
Will post them back tomorrow.

Nice announcement by VPE oil at growler 5

[The Big Ease]

very nice.
but when you think about the recent share issues, all the benefit has been eroded. essentially given the new well to the board of directors and the new share placement.
still, its better than nothing at the moment.

[Trent]

very nice.
but when you think about the recent share issues, all the benefit has been eroded. essentially given the new well to the board of directors and the new share placement.
still, its better than nothing at the moment.

Some posters have viewed the latest option proposal as money for directors etc. A sorrier view would be that JK etc have very low expectations for the SP. A smarter incentive would be for directors to invest more of their hard earned dosh in the company's shares.
T

[bermuda]

Some posters have viewed the latest option proposal as money for directors etc. A sorrier view would be that JK etc have very low expectations for the SP. A smarter incentive would be for directors to invest more of their hard earned dosh in the company's shares.
T

Agree entirely Trent. The Directors and Management should have bought into VPE like we did. At least Patten has been buying.

Hey, I just read that British Gas are NOT going to proceed with a major CSG fired power station to replace a brown coal station in Eastern Australia. What do you make of that?

My thoughts are that BG still havent secured enough CSG to power their new Gas LNG Trains to meet their CONTRACTED commitments to supply the new Singapore LNG hub.

Which means they are still in the market for further CSG....and that has got to be good news for both VPE and BOW and others. Just my thoughts. Anyone have any others?

[tobo]

If they have decided to not proceed with a major CSG fired power station (whether because of supply shortage, or just general profitablity not stacking up at present prices) this may mean they have decided not to be in the market for further CSG. (This question probably deserves some deeper research into BG)

ToBo. Discl: VPE & Bow

[shasta]

VPE - Quarterly Out - plenty of cash & growing/growling oil base

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=170417

[upside_umop]

A downgrade in Don-Juan by the looks....less than 200PJ of 3P now.

They burn cash pretty quick though huh?

I've only got a small holding in these, but will hold out in the hope of some corporate activity.

[bermuda]

A downgrade in Don-Juan by the looks....less than 200PJ of 3P now.

They burn cash pretty quick though huh?

I've only got a small holding in these, but will hold out in the hope of some corporate activity.

Hi Upside,
I wouldnt call 196 BCF a downgrade. The last report was looking at 200 BCF.

VPE are looking very very good. Stay in there.

[upside_umop]

That was 2P resource wasnt it bermuda?

[bermuda]

That was 2P resource wasnt it bermuda?

Same as the previous quarterly report. You have to get certification to move into 2P.

And the certification is in progress but in this industry you do get delays. VPE has some very good CSG acreage.

Going to be a great year.

[The Big Ease]

if theyre aiming at 3p of 196pj, then do you think its fair to say 2p certified reserves will be significantly less than that?

anyhow, it will mean some sp appreciation or more money in the bank.
hopefully qgc get moving asap. one would assume they would have a greater capacity to expedite the certification process of reserves for pl 171.

i should add, BG have just appointed a former shell executive to head up their australian operations under the umbrella of QGC. im betting she will be keen to get things rolling asap. having a look at the timing of further drilling in pl 171 and 574, they will be busy in the next 6 months. about time i say and lets get this thing rolling already. thank goodness we have a decent partner.

[bermuda]

if theyre aiming at 3p of 196pj, then do you think its fair to say 2p certified reserves will be significantly less than that?

anyhow, it will mean some sp appreciation or more money in the bank.
hopefully qgc get moving asap. one would assume they would have a greater capacity to expedite the certification process of reserves for pl 171.

i should add, BG have just appointed a former shell executive to head up their australian operations under the umbrella of QGC. im betting she will be keen to get things rolling asap. having a look at the timing of further drilling in pl 171 and 574, they will be busy in the next 6 months. about time i say and lets get this thing rolling already. thank goodness we have a decent partner.

TBE,
Yep,
We are in for a big year.

[upside_umop]

Bermuda, they were originally aiming for 2P 200PJ - by the end of 2008.

We now have 196PJ 3P and no deadline.

[bermuda]

Bermuda, they were originally aiming for 2P 200PJ - by the end of 2008.

We now have 196PJ 3P and no deadline.

Not a bad Quarterly Upside. In line with my expectations. We have a great year in front of us. In fact bought another 120k today. And that is in a bear market beset with problems.

For anyone that is interested read the 1st 2 pages of the AR and then see who has come on board since. Confirms my beliefs.

But as always, DYOR.

[CAM]

I know you hold both but, if you don't mind me asking, are you buying more shares or options??

cheers
cam

Disc..hold vpeo

[bermuda]

I know you hold both but, if you don't mind me asking, are you buying more shares or options??

cheers
cam

Disc..hold vpeo

Cam,
We have enough options in our joint names. This is for my wife's account and am sticking to Headshares. Someone bought a few options yesterday but it wasnt me. VPE has some very experienced investors on their books and a very good as yet unrecognised plan going forward. I expect a big lift in May/June.

Managed to get her 100k BOW as well. Please remember I/we dont trade. Just accumulate on a good story and hope that the story survives this 'meltdown'.

[The Big Ease]

Cam,
We have enough options in our joint names. This is for my wife's account and am sticking to Headshares. Someone bought a few options yesterday but it wasnt me. VPE has some very experienced investors on their books and a very good as yet unrecognised plan going forward. I expect a big lift in May/June.

Managed to get her 100k BOW as well. Please remember I/we dont trade. Just accumulate on a good story and hope that the story survives this 'meltdown'.

are you going to add the proprietary VPE 3 month lag to that B? ;)
if all goes to plan, then i agree with you. pl 171 and 574 should be looking like an old dart board by then (i hope). these along with DJ are the money makers IMO. the oil is good for cashflow, otherwise it just requires too much time and money to develop it in this current climate, therefore it wont do anything to the SP in the interim...unless.....hehe

[Lebowski]

Ex-Shell executive named chief of Queensland GasFont Size: Decrease Increase Print Page: Print Sarah-Jane Tasker | January 29, 2009
Article from: The Australian
BG GROUP has appointed Catherine Tanna to run its Australian operations, heading its subsidiary Queensland Gas Company.

Ms Tanna comes from strong industry roots in Queensland, with the RG Tanna Coal Terminal named after her late father Reg, who was previously the general manager of the Gladstone Port Authority.

Taking on the role as executive vice-president and managing director Australia for BG Group, Ms Tanna will have strategic and operational oversight of all of BG Group's interests in Australia and be based at the Brisbane headquarters.

Her responsibilities include overseeing the development of QGC's coal seam gas resources, downstream market opportunities and the new Queensland Curtis LNG export facility near the port of Gladstone.

She will also be a member of the BG Group executive committee and will report directly to chief executive Frank Chapman.

Ms Tanna is currently the executive vice-president, gas and power with Shell. She was most recently responsible for Shell's LNG, gas transmission and power generation interests across Africa.

She has also previously worked for BHP Petroleum in several exploration and production and commercial roles.

"Catherine has a wealth of international experience in the gas industry, combined with a deep-rooted understanding of the Australian energy sector," Mr Chapman said.

International mining consultancy Coffey International has also appointed a female to a key role. It has made acting chief financial officer Debbie Goodin the new director of operations.

Ms Goodin has almost 20 years of senior management, operations and financial management experience.

She is a Fellow of the Institute of Chartered Accountants and has held senior finance roles with the Victorian Government, City of Melbourne, Ferrier Hodgson and Arthur Andersen.

Story Tools

[Trent]

Belated Happy New Year Bermuda and other posters.
I am more than a bit puzzled by VPEs Qtly report in which refers to an evaluation of the DJ field which gives an initial estimate of 196 bcf of 3P reserves. Whose estimate was it? Bow is the operator of DJ and there has been no such announcement from the company that I have seen. Why would VPE be releasing such data when it is not the operator. And why has the operator not commented on the estimate? Bermuda perhaps you could contact RP for clarification? It all seems very strange to me.

The last reference to reserves from BOW that I have seen was "up to 200PJ" which I had understood to be 2P reserves. If the 196 bcf is in the right ballpark then based upon other reported 2P/3P reserves I would expect the intial certified reserve figure to be well short of 200PJ.

Cheers
T

[shasta]

Belated Happy New Year Bermuda and other posters.
I am more than a bit puzzled by VPEs Qtly report in which refers to an evaluation of the DJ field which gives an initial estimate of 196 billion

Thats only an estimate of 196 BCF (3P), if the field was 1TCF+ it would be fantastic.

Will need further drilling wells to shore up the reserves into (2P) status.

Sloppy reporting though, the ASX shouldn't allow non certfied reserve figures (like the JORC code)

Still for such a small company it would be a good start!

[Trent]

Thats only an estimate of 196 BCF (3P), if the field was 1TCF+ it would be fantastic.

Will need further drilling wells to shore up the reserves into (2P) status.

Sloppy reporting though, the ASX shouldn't allow non certfied reserve figures (like the JORC code)

Still for such a small company it would be a good start!

Hi Shasta
The strange thing is that BOW is the operator of DJ and any estimate however rough should have come from the operator. We don't even know whether BOW has buy in to the 196bcf which seems like a rather precise figure for a rough estimate. VPE at least has a duty to say who came up with the figure. Their qtly report doesn't even do that.

Cheers
T

[KentBrockman]

Have another look at PES today folks....one year ago this stock was below 50 cents, today 2nd takeover offer at A$6.40.

Compare to VPE and weep.

[bermuda]

Have another look at PES today folks....one year ago this stock was below 50 cents, today 2nd takeover offer at A$6.40.

Compare to VPE and weep.

Kent,
Look forward and smile.
VPE has so much going for it. Our day will come. Load up now.

[KentBrockman]

Kent,
Look forward and smile.
VPE has so much going for it. Our day will come. Load up now.


But Bermuda, how do you explain that Arrow and BG outbid themselves to acquire a high quality company like PES (I think the offer is up to 800mill now)....while VPE sits there for the taking, and doesn't even move upon this obvious desperation of British Gas, Shell, Arrow etc?

Don't you think all these big players have by now run the ruler over VPE, and must have realised that it is either a total bargain (then why has noone moved???) or cr_p?????

[OutToLunch]

If nothing else, VPE should move up somewhat on sentiment alone as a result of the action at PES. A bidding war over PES will help the CSG sector along nicely. VPE still need to prove up their reserves though, and pronto.

Edit: The results of tomorrow's meeting will be interesting. Hope my 'no' vote arrived on time, for what it is worth.

[Crypto Crude]

QGC, Sunshine, PES, SPX....
They are all falling...
who's next?
VPE will be in line somewhere....
Still one of my favourites along with BUL...
I still stand by my call that VPEO wont exercise in the money...
A takeover would be the only bailout there...
Great company... looks hedged against falling markets...
:cool:
.^sc

[bermuda]

But Bermuda, how do you explain that Arrow and BG outbid themselves to acquire a high quality company like PES (I think the offer is up to 800mill now)....while VPE sits there for the taking, and doesn't even move upon this obvious desperation of British Gas, Shell, Arrow etc?

Don't you think all these big players have by now run the ruler over VPE, and must have realised that it is either a total bargain (then why has noone moved???) or cr_p?????

Kent,
In this game you secure your position. BG has big CSG/LNG supply commitments coming up especially since they lost out on their bid for Origin. Since then they have 'secured' a bit of VPE, given up on supplying a CSG power station, and have moved on PES to give them much needed CSG reserves. And I am betting they make a move on VPE.

[Crypto Crude]

would you accept an offer for 30cents?
:cool:
.^sc

[STRAT]

would you accept an offer for 30cents?
:cool:
.^scFor my options? Hell yes :D

[OutToLunch]

For my options? Hell yes :D

Yep that'd rip my nightie too. :D

Not accepting 30c for the heads though.

[airedale]

New SSH notice, looks like they got in at a substantial discount.

[bermuda]

New SSH notice, looks like they got in at a substantial discount.

Hi Airedale,
As you know this is old news and is to be ratified tomorrow. I voted for this particular resolution but voted against all the other resolutions. They probably had to annonce this today for the sake of ASX regulations.

VPE has some very good shareholders now.
British Gas
Sentient Group
Dale Elphinstone ( ex QGC Director)
Bryan ( ex QGC Director )
Denis Patten ( ex QGC founding Director )

et moi ( lol )...et mon bro...et mon wife....et mes amis..... Et tu?

[croesus]

et moi.....

[clearasmud]

See ex Sunshine executives have today moved to take over Comet Ridge Resources by backing in their unlisted company Chartwell Energy.

Could be an interesting new csg co with a current market cap of about 30m and 7m cash.I note also the NZ csg acreage they have.


Clearasmud.

[airedale]

Hi Airedale,
As you know this is old news and is to be ratified tomorrow. I voted for this particular resolution but voted against all the other resolutions. They probably had to annonce this today for the sake of ASX regulations.

VPE has some very good shareholders now.
British Gas
Sentient Group
Dale Elphinstone ( ex QGC Director)
Bryan ( ex QGC Director )
Denis Patten ( ex QGC founding Director )

et moi ( lol )...et mon bro...et mon wife....et mes amis..... Et tu?

Hi Bermuda, I like your mixture of French, Latin and English. I am cooking on the Sunshine Coast right now,checking out grandson #2.
Yes I am in to the tune of 200,000 shares and thinking of cleaning out some duds in my portfolio and topping up on VPE.

[The Big Ease]

also, this is the fist genuine clash of interests in a takeover.
could it be that as time passes and the pool of available assets gets smaller, the sharks get more aggressive?

this might just work out perfectly for VPE's schedule of certification.
at least we know how desperate BG are, we can also be certain of its desire to get cracking on the permits we share with them.

this can only be good news imo.
as for JK, i reckon this rising tide is going to make him look good.

[Ish]

Things are starting to look interesting!

I got in at 19.5c last week

[bermuda]

Things are starting to look interesting!

I got in at 19.5c last week

Well done Ish, honestly you cant get enough of these at these prices. Managed to convince my wife to sell NAB and ANZ and got her 500k of VPE at 19.5-20 cents.

BG are in a real pickle and when they come to put in an offer for VPE we have Sentient Group to defend us. Last year Siller just rolled over when QGC put in their ridiculously low bid for RPM. It aint going to happen this time.

2009 is going to be a great year for VPE...and BOW...and other small cap CSG players.

BG have seriously large CSG/LNG commitments to honour and Origin set them back badly. If Shell thwarts BG's latest attempt to secure CSG ( from PES ) then we will really have a bun fight on our hands.

[bermuda]

See ex Sunshine executives have today moved to take over Comet Ridge Resources by backing in their unlisted company Chartwell Energy.

Could be an interesting new csg co with a current market cap of about 30m and 7m cash.I note also the NZ csg acreage they have.


Clearasmud.

Thanks again for this info. Looks useful. Especially getting that A$8 million from Chartwell plus experience from SHG. ( always good to have experienced guys on board...a bit like VPE attracting all those guys from QGC ).

Should go OK and the NZ CSG is interesting.

[airedale]

I see from today's ann that all of the reolutions to issue almost- in-the-money options to directors were passed comfortably. The fact that the major shareholders did not dissent must be a positive.

[Corporate]

Well up again today. Hopefully i'll be in the green on my VPEO shortly

[Paddie]

Well up again today. Hopefully i'll be in the green on my VPEO shortly



VPE riding a bit on the success of what is happening with PES.

Volumes are increasing.

Paddie

[Oiler]

Well up again today. Hopefully i'll be in the green on my VPEO shortly

Hopefully me to Corporate. :confused: Time will tell.

[shasta]

VPE riding a bit on the success of what is happening with PES.

Volumes are increasing.

Paddie

Absolutely, anyone with certified reserves (or in the process of) will be having the ruler run over them for sure.

So who is the next likely takeover target?

Can see a "CSG bubble" ahead as speculators look to position themselves.

[OutToLunch]

Well done Ish, honestly you cant get enough of these at these prices. Managed to convince my wife to sell NAB and ANZ and got her 500k of VPE at 19.5-20 cents.

BG are in a real pickle and when they come to put in an offer for VPE we have Sentient Group to defend us. Last year Siller just rolled over when QGC put in their ridiculously low bid for RPM. It aint going to happen this time.

2009 is going to be a great year for VPE...and BOW...and other small cap CSG players.

BG have seriously large CSG/LNG commitments to honour and Origin set them back badly. If Shell thwarts BG's latest attempt to secure CSG ( from PES ) then we will really have a bun fight on our hands.

Well this might be of interest then.... Shell vs. BG, coming soon. Grab yourselves some popcorn and enjoy the action (posted by jake0002 on HC):

>>Shell flexes muscle behind Arrow
Clancy Yeates
February 13, 2009
THE oil company Shell is not about to slink away from the coal-seam gas industry in Queensland if confirmation that it has secured a site for a liquefied natural gas project on Curtis Island is any indicator.

While the near-$1 billion bidding war for Pure Energy heated up yesterday, Shell said it would be joining Curtis Island, where three multibillion-dollar LNG plants involving global oil giants are already planned.

The timing of the news was telling. It came a day after Shell's joint-venture partner, Arrow Energy, had increased its bid for the junior explorer Pure to $890 million following a hostile bid of $796 million from Britain's BG Group on Monday.

Until now Shell, the owner of an 11 per cent stake in Pure, had remained silent.

Arrow and Shell plan to build the region's smallest LNG project at the nearby Fisherman's Landing, but news of the Curtis Island site confirms the partners have joined forces for a much bigger play.

Arrow, which owns 20 per cent of Pure, is bidding for it independently of its much larger joint-venture partner.

An analyst at Citigroup, Di Brookman, said Shell's statement was a clear show of solidarity against BG's bid. "You could say it's like big Shell walking up to Arrow and putting their arm around them."

In the game of bluff that infiltrates a takeover battle, Ms Brookman said Shell's move was the equivalent to saying: "You take on Arrow, you take on me."

Shell this week closed a deal to acquire 30 per cent of Arrow's domestic gas reserves, but it has not yet revealed its intentions with regard to its shares in Pure.

Many in the market expect a bidding war between BG and Shell over Pure, as Arrow's bid is still well below the per gigajoule price BG paid for Queensland Gas in a $5.5 billion takeover last year.

An analyst at JP Morgan, Mark Greenwood, said Pure's acreage was immature but there were early signs it was very productive and had a strong gas flow.

"The current reserves are a fraction of what they are likely to extract from the acreage and it's well placed; it's a good address. Our anticipation would be that BG comes back and ups its bid."

Shares in the takeover target Pure rose 9 per cent to $7.35 as investors bet BG Group would trump Arrow's revised offer of $3 cash and 1.57 Arrow shares for every Pure share, worth $7.16 a share.

BG said yesterday it would reveal a decision on whether it would raise its bid of $6.40 by the start of trading next Wednesday, and told Pure shareholders to take no action in the mean time.

Arrow's managing director, Nicholas Davies, played down Shell's role in the battle. "This is an offer from Arrow Energy for Pure Energy and as such Shell doesn't have any involvement."

[STRAT]

Nice post OTL. I think ( only half paying attention ) it was said on the box tonight that shell are selling up their retail interests in NZ. Reason stated that they were looking to focus on interests with more growth potential.

[OutToLunch]

Nice post OTL. I think ( only half paying attention ) it was said on the box tonight that shell are selling up their retail interests in NZ. Reason stated that they were looking to focus on interests with more growth potential.

G'day Strat,

I heard that one too, on Nat Radio. Unfortunately I was not fully tuned into it as my attention was more into getting my 2 yo daughter to eat her dinner at the time (no mean feat) but my understanding was that Shell are carrying out a review of all their NZ operations (no decision to sell anything at this stage, I think I heard that much before the radio got drowned out by the Great Dinner Battle). Straight away I thought of the tussle with BG over PES and perhaps there's a link in there somewhere, but who knows?

[shasta]

G'day Strat,

I heard that one too, on Nat Radio. Unfortunately I was not fully tuned into it as my attention was more into getting my 2 yo daughter to eat her dinner at the time (no mean feat) but my understanding was that Shell are carrying out a review of all their NZ operations (no decision to sell anything at this stage, I think I heard that much before the radio got drowned out by the Great Dinner Battle). Straight away I thought of the tussle with BG over PES and perhaps there's a link in there somewhere, but who knows?

Strat/OTL - I posted the Shell article on the AOE thread ;)

[OutToLunch]

Thanks shasta.

27c for VPE today, clearly the CSG bandwagon has started to move. I would assume, though, that VPE won't really get a look in re. takeover activity until they have certified their CSG resources.

[Ish]

I see a lot of people have VPEO instead of VPE.

Thoughts on this? I understand if you are holding out for a takeover this could be a good approach.

Havent had a look into it, but I assume there are different expiry dates for the listed options on offer, which ones do people here favour?

[AMR]

I see a lot of people have VPEO instead of VPE.

Thoughts on this? I understand if you are holding out for a takeover this could be a good approach.

Havent had a look into it, but I assume there are different expiry dates for the listed options on offer, which ones do people here favour?

I in fact regret buying the oppies. Firstly, I watched the SXPO holders get stuff-all for their time premium. Secondly, there's a risk that the company might issue a huge pile of options (even more than they already have) and end up like TEXOs.

Still going to hold though, the spreads to get out are quite large and I have a miniscule amount.

[OutToLunch]

Big interest in VPE today. But surely the 3P reserves announced for DJ yesterday are a disappointment? I didn't see much more than 10 cps in it for VPE, roughly guessing.

[Financially dependant]

Big interest in VPE today. But surely the 3P reserves announced for DJ yesterday are a disappointment? I didn't see much more than 10 cps in it for VPE, roughly guessing.

Yes looking like a good day for VPE, this seems to be the price range that VPEO give maximum leverage! tracking 20c behind VPE on a day with plenty of volume.

Maybe a bit of PES money coming our way??

[STRAT]

Big interest in VPE today. But surely the 3P reserves announced for DJ yesterday are a disappointment? I didn't see much more than 10 cps in it for VPE, roughly guessing.Chart lookin pretty good eh?. Just wish the options would keep up.

[Ish]

A good day to be sure although they could take a hit tommorow if money flows out of BOW after the rights issue close off..

Still kicking myself I didnt have funds free to buy bow at 31c when I was eyeing it up ;-)

[STRAT]

Chart lookin pretty good eh?. Just wish the options would keep up.LOL and my wish is granted

[Corporate]

A good day to be sure although they could take a hit tommorow if money flows out of BOW after the rights issue close off..

Still kicking myself I didnt have funds free to buy bow at 31c when I was eyeing it up ;-)

haha i thought about getting $10k of BOW when it hit 16c recently. But held back after getting burnt elsewhere....damn the mind games.

Well done holders.

[Ish]

Up to 32c now, huge increase over the past 3 days although still lagging far behind BOW for the month.

For the first time since I've held buyers and sellers are even on depth which is very positive.

Why all this increase if Don Juan was disappointing? It probably depends on expectations.

[STRAT]

Up to 32c now, huge increase over the past 3 days although still lagging far behind BOW for the month.

For the first time since I've held buyers and sellers are even on depth which is very positive.

Why all this increase if Don Juan was disappointing? It probably depends on expectations.Hi Ish,
Something else I would have thought but either way Im not complaining :D

Any thoughts on this Bermuda?

Hey AMR, those options lookin better today eh? :D

[bermuda]

TBE/Trent and others,
Merry Christmas to you all.

Yes , I did say 2008 was going to be a great year for VPE and I think it has been. Particularly when we ran into the biggest depression mankind has ever struckt and which is still being played out and will continue through 2009.

VPE in 2008

1. Increased it's sp by over 50%. ( Woodside down 66% )
2. Attracted QGC onto its register
3. Attracred Denis Patten ( ex founding Chairman of QGC ) as Chairman of VPE
4. Attracted Sentient group onto Register and onto VPE Board
5. Attracted QGC investor Elphinstone onto Register
6. Attracted Robert Bryan ( previous Chairman of QGC ) onto Register
7. Attracted BG onto register
8. Found significant additional oil at Growler
9. Started to prove up Don Juan reserves
10. Has recognised the value of its CSG permits and has raised sufficient cash to develop these with BG as a partner. ( repeat ..partner..we aint going to roll over like RPM )
11. Remains grossly undervalued

I could go on a lot more and even trot out about 10 pages on why the International LNG market is coming to Queensland. The figures and the interest are quite staggering. Even NSW will boom.

I am dreaming of a white Christmas!!! but currently in Oxford it is quite calm and comparatively mild.

Merry Christmas to all. Value all your opinions. And I do agree VPE needs to educate and be more forthcoming to it's shareholders. I will be continuing to work on that in the New Year.

Hi Strat,
Re your question. Thought I would repeat this post. See also my earlier post 912.

2009 is going to be a great year for VPE. In about 6 or so months we will have cleaned out all the doubters and have a very positive register.

And as you know the BIG BOYS already have 41% of the register.

[Corporate]

Well Bermunda you would be very happy with VPE and BOW!

If VPE hits say 40cps what would VPEO be?

Holding..VPEO.

[bermuda]

Well Bermunda you would be very happy with VPE and BOW!

If VPE hits say 40cps what would VPEO be?

Holding..VPEO.

Hi Corporate,
At some stage both VPE and VPEO will go up in equal amounts. In the meantime there is a formula but I really dont bother with these things. As far as I am concerned I just take 25 cents off the Headshare to get my option value. So to answer your question, 15 cents.

But of course you have to add on a premium for potential. At the moment it is 3 cents. And if this premium remains then when VPE equals 40 cents, VPEO will be 18 cents. Or thereabouts.

[STRAT]

Hi Strat,
Re your question. Thought I would repeat this post. See also my earlier post 912.

2009 is going to be a great year for VPE. In about 6 or so months we will have cleaned out all the doubters and have a very positive register.

And as you know the BIG BOYS already have 41% of the register.Thanks Bermuda.

[STRAT]

Hi Corporate,
At some stage both VPE and VPEO will go up in equal amounts. In the meantime there is a formula but I really dont bother with these things. As far as I am concerned I just take 25 cents off the Headshare to get my option value. So to answer your question, 15 cents.

But of course you have to add on a premium for potential. At the moment it is 3 cents. And if this premium remains then when VPE equals 40 cents, VPEO will be 18 cents. Or thereabouts.and the closer to conversion date the smaller that premium gets. So say six months from now pretty much zero I would think. The rally at the end of day on Friday leaves us lookin pretty good for monday.

[AMR]

That gloomy saturday where I was crying into my beer with STRAT and oiler over those VPEO options seems so long ago already :)

[The Big Ease]

it's difficult to tell what is going on with bow and vpe.
on the surface, nothing much has changed to warrant the price rises.

obviously the csg space has tightened considerably as the consolidation has gained pace. very few qld csg plays remain and fewer with the speculative upside of vpe/bow.

so it may just be a flood of money as people take their places....but the buying i have witnessed on vpe suggests it is something more...buying is sporadic but relatively large chunks of hundreds of thousands of shares in quick succession.

could be clutching at straws on that theory, but one thing is for sure; things are lining up nicely for 2009. i dont know if current prices are sustainable, but vpe is moving in the right direction....so is BOW, but i dont hold that.

[Corporate]

That gloomy saturday where I was crying into my beer with STRAT and oiler over those VPEO options seems so long ago already :)

My sentiment exactly! I had all but written them off when they hit 3c. Lets hope the run keeps going.

[Corporate]

it's difficult to tell what is going on with bow and vpe.
on the surface, nothing much has changed to warrant the price rises.

obviously the csg space has tightened considerably as the consolidation has gained pace. very few qld csg plays remain and fewer with the speculative upside of vpe/bow.

so it may just be a flood of money as people take their places....but the buying i have witnessed on vpe suggests it is something more...buying is sporadic but relatively large chunks of hundreds of thousands of shares in quick succession.

could be clutching at straws on that theory, but one thing is for sure; things are lining up nicely for 2009. i dont know if current prices are sustainable, but vpe is moving in the right direction....so is BOW, but i dont hold that.


I reckon it's a combination of a few things

1. Proving up some reserves at DJ (saying to the market yes we can do it - even though it was lower than originally expected)
2. Money moving out of PES into BOW and then possibly out of BOW into VPE
3. People realising how important CSG is to BG/Shell (As bermuda has been saying since i can remember being on this sight)

[The Big Ease]

I reckon it's a combination of a few things

1. Proving up some reserves at DJ (saying to the market yes we can do it - even though it was lower than originally expected)
2. Money moving out of PES into BOW and then possibly out of BOW into VPE
3. People realising how important CSG is to BG/Shell (As bermuda has been saying since i can remember being on this sight)
bow and vpe have been moving in lockstep for about 18 months. so it cant be money coming out of bow. if you check out google finance and look at the trading of both bow and vpe, they make their move at almost the same time during the day.

BG has made a move on origin, then big for qgc...both massive bids. that shouldve been enough to make people aware of their interest, so i dont find that argument is supported.

the only thing i can think of is additional value to reflect the don juan 3P reserves and some momentum.

i cant see this sustaining itself unless there is some corporate action. it would be unlikely to see this before even 3P certification of significance.

[STRAT]

bow and vpe have been moving in lockstep for about 18 months.

i cant see this sustaining itself unless there is some corporate action. .Hi TBE,
In lock step you say. Hope thats true and the chart kinda indicates its so. Guess that could mean we are in for a good week ahead :D What do you reckon?

The thing with corperate action is there is always someone outside the parties involved who knows what is going on before an announcement is made public.

Just speculating here but Im a little excited about how the next week will play out.

[The Big Ease]

well if you take a 12 month chart and compare the % movements with BOW, you will see that they move in almost perfect correlation. the last two weeks has seen a break from that with BOW going from 13 cents to where it is now, a 5 bagger whereas VPE has "only doubled" in that time.

I can understand this as BOW is a much smaller company, so DJ means more to it. its share of approx 40Mill valuation of DJ was about 80% of its average market cap of 30mill, where as VPE's 45% share is only about 25% of VPE's average market cap of 80 mill.

I would anticipate VPE pulling ahead since BG's drilling of the shared permits is imminent whereas BOWsome way to go.

[STRAT]

What a hoot. Burst out of the box this morning and up to 33.5. Now back to 31.0. Day Traders finally taking an interest in VPE? Any attention is good attention eh?

[The Big Ease]

looks like its settling down today.
bow down 7% vpe down 3%.

so that's it then.
back to the drilling guys......btw has BG sourced a drill for PL171 yet? They were supposed to begin drilling that permit in feb/march provided they found a drill.

in any case, should get some more action in the next few weeks if they find a drill.
that PL171 is a beauty. My frist peek into CSG and the day I was going to buy, I woke up to QGC's takeover offer. missed it by that much.

[STRAT]

Yup, Looks like the locusts are moving to the next field. Id be plenty happy if we can hold at or around 30c though.

[OutToLunch]

Looks like Mt Patten doesn't see VPEO worth keeping at current levels...

[airedale]

Looks like Mt Patten doesn't see VPEO worth keeping at current levels...

100,000 VPEO.... for Mr Patten. A trifling sum.... a very unusual sale?

[CAM]

Maybe its his attempt at capping?..:)

[bermuda]

Maybe its his attempt at capping?..:)

Must have been for some admin reason. He, more than anyone. knows what's going on.

[STRAT]

Looks like Mt Patten doesn't see VPEO worth keeping at current levels...Mmm and they appear to be all the 2010 options he held.

[KentBrockman]

Mmm and they appear to be all the 2010 options he held.

But surely this low quantity should be peanuts for him and thus not warrant concern?

[The Big Ease]

he holds millions.
who cares about a few options.

anyhow, i sold out for the first time since buying.
risky, but I can see a pullback continuing tomorrow.
i will buy back in at lower prices.

[Ish]

he holds millions.
who cares about a few options.

anyhow, i sold out for the first time since buying.
risky, but I can see a pullback continuing tomorrow.
i will buy back in at lower prices.

Will be interesting. With the dow up 6% you might be lucky to buy back in at lower prices today.

Lets see how this plays out

[STRAT]

But surely this low quantity should be peanuts for him and thus not warrant concern?Thats a reasonable assumption Kent but in my experience thats not how rich people think. The rest of his options ( unlisted expire 2012 ) anyway it was just a thought.


6% rise on the DOW Ish says. That rumoured sharp bear rally is perhaps on the way? :D You gotta laugh though. Citigroup report they made a profit over the last two months and the whole world goes up in value by 5% :D

[Ish]

Thats a reasonable assumption Kent but in my experience thats not how rich people think. The rest of his options ( unlisted expire 2012 ) anyway it was just a thought.


6% rise on the DOW Ish says. That rumoured sharp bear rally is perhaps on the way? :D You gotta laugh though. Citigroup report they made a profit over the last two months and the whole world goes up in value by 5% :D

Strat, hey if it helps my shares go up I dont care how it gets done ;)

[kanejones]

What does everybody think of the latest report? I'm considering adding to my holding.

[Ish]

What does everybody think of the latest report? I'm considering adding to my holding.

Note I don't have a huge amount of historical knowledge of VPE so please bear that in mind. These are the thoughts of someone looking at any of VPE's financial statements for the first time. With that said, I am an accountant so I look at this stuff all day.

Here are some of my thoughts on the half yearly:

1. Massive accumulated losses(!) not a surprise to anyone that has followed them I'm sure. Subject to Australian tax law could be a substantial tax benefit in the future and therefore worth something.

2. Increased operating revenues and pushing closing to cash positive status, although will not be at this level for some time yet with the significant exploration expenses.

3. Discontinued operations - a bit of a write down here from the looks and something about a failed sale of the US operations. Would be interested in others opinions on this although i suspect it's back about 20 pages on this thread and I'll look up when I have the time.

4. Currency gain of around $1m for the 6 months - not bad

5. Good cash position, significantly improved from the year before - mainly due to the raising of capital. Pity it was for only 14c per share as this has diluted the shareholding a bit.

6. A lot of options (7 million) issued to directors + a few (2 million) to staff.. with 3 years to run and 25c excise price.. these are a license to print money... however approx 7 million options expired in late 08 too.

7. CSG operations - expected drilling in 2009 Q3.. so some way off there by the looks

8. Oil exploration - some new drilling in 2009 Q3.

All in all looks not too bad from a newcomer's position - no need to raise cash (although that didn't stop them recently)

Disc. Hold VPE

[The Big Ease]

PL171 and 574 to be drilled in the 3rd quarter instead of now, as previously stated.
bit of slippage there.

[Financially dependant]

PL171 and 574 to be drilled in the 3rd quarter instead of now, as previously stated.
bit of slippage there.

Which is frustrating because we gave away options for improved management performance and accelerated prove up of certification?:mad:?

[KentBrockman]

Which is frustrating because we gave away options for improved management performance and accelerated prove up of certification?:mad:?

LOL....'improved management performance'....have you had a look at this man's history of 'performance'?

[STRAT]

Strat, hey if it helps my shares go up I dont care how it gets done ;)VPE Bolting again today. 1.8 mill already with some chunky amounts going through. One trade just under 250000 shares.
Black Friday lookin pretty blue so far :)

[upside_umop]

Yeah, something is going on with VPE.

I just got 100 k options to add to my heads at 10 cents after I saw opening at 34. Sunk a little now...but I believe options are best for upside atm. Might flick em on for a quick one if things pick up further later...

[kanejones]

Yeah, something is going on with VPE

It seems that way.... I'm glad I topped up when I did!

[Paddie]

I know that this has been asked before but what status do the options have if there was a takeover offer?

Thanks
Paddie

[AMR]

I know that this has been asked before but what status do the options have if there was a takeover offer?

Thanks
Paddie

They may get taken out for a small premium above the exorcism price, for instance LNC's takeover of SXP. The SXPO holders recieved 5 c extra (which was IMO not enough to account for the time premium)

[STRAT]

They may get taken out for a small premium above the exorcism price, for instance LNC's takeover of SXP. The SXPO holders recieved 5 c extra (which was IMO not enough to account for the time premium)Maybe not AMR but if anyone offered me 30c for my VPEO I would be tickled pink

[Corporate]

I just sold my lot of VPEO for the following reasons

1. BG are not drilling until the third quarter and I am concerned that this will get pushed back further. Reserve certification will then be after the expiration of the options.

2. The DJ results were extremely disappointing

3. If I was in VPE for oil I'd just buy ITC for a much lower market cap

4. The option giveaway to management was a disgrace

5. The share price has been pumped up with speculation, and the sector running hot. There is still time before BG drill and the share price (and options) will probably drift lower.

6. VPEs market cap is $120m - i feel there are better opportunities in the market.


I wish holders all the best. I may be back in later.


Now that i've sold a takeover will be annouced on monday :rolleyes:

[newbietrader]

Hi all,

I'm new share holder of VPE. I bought it on 5 Jan 09..Am I eligible for the options? If so how do I apply for it? I'm based in auckland.

cheers

[CAM]

.......do you do any research before you buy shares?

[macduffy]

Hi all,

I'm new share holder of VPE. I bought it on 5 Jan 09..Am I eligible for the options? If so how do I apply for it? I'm based in auckland.

cheers

I think CAM's trying to tell you that the options were issued some time ago, that they were a "one-off", now listed separately and that if you want any you'll have to buy them.

;)