VPE, Victoria Petroleum (Now SXY: Senex Energy)

[Crypto Crude]

Check out this link....

http://sa.iguana2.com/cache/fc87425c56f8d4174f23afbf2078e26f/ASX-VPE-161256.pdf
:cool:
.^sc

[Crypto Crude]

Nice double digit rise today...
VPE shares a partnership with one of Bermuda's picks of BOW.... these two pumping little companies share the Santos 7drill, 15% stake, free carried drilling program....
:cool:
.^sc

[yogi-in-oz]

:)

Hi folks,

VPE ..... looking at the time cycle analysis over the next
few months, it seems November 07 should be quite positive ..... :)

19102007 ..... negative light on VPE ... :(

26-29102007 ..... negative news here ... ???

07112007 ..... more negative news ???

16-19112007 ..... positive spotlight on VPE ... :)

27-29112007 ..... positive news expected here = BIG move ???

03122007 ..... negative cycle ... finance-related???

18122007 ..... 2 difficult cycles and significant news ???

27-28122007 ..... significant and positive - finances ???

04-07012008 ..... major and negative news

16012008 ..... 2 cycles here ... negative spotlight on VPE

21012008 ..... difficult cycle

happy days

paul

:)

=====

[Crypto Crude]

Bermuda,
what an anti-climax that bet you had with poor bilo was...
did it not only last 1 or 2 days...
haha...
:cool:
.^sc

[bermuda]

Shrewdy,
Hope you got some VPE. Ready to REALLY ROCK over the next 12 months.

[AMR]

What's going on with this stock? My old man decided to try his hand at buying oil specs and bought in a few months ago at 29c.

[bermuda]

What's going on with this stock? My old man decided to try his hand at buying oil specs and bought in a few months ago at 29c.

Coal Seam Gas alone will take it to $A0.70

[Crypto Crude]

xxamr_corpxx,
Last time SP was 29cents was back in Janurary 18th this year...
Starting in FEB VPE had 3 successive abandoned wells in a row including Tunkalilla-1, Gamma-1, Telowie-1 which set tone for the year and Share split may have had abit of downward pressure on SP....
This has been a rather frustrating company for many for so long because company has been promising stronger cashflow for the best part of a decade, which it aimed to achieve on the back of many drilling programs which have had mixed results... It has asset backing, large acerage, massive amount of drills coming up over the next year but cashflow around 7million... the trending SP over the last year makes this an attractive buy on recent market happening including prices of oil,gas, and farmin's... Recent ann of 7 drill farmin with STO is great news and worth more than a couple of cents alone... this small company has more drills coming up than any other I can see, these onshore wells are much cheaper than offshore wells and are more favourable for the little oilers on the downside...
Free carried oilers are the way to go...
..
I should be buying bermuda, but im heavy in MEO...
spotted BUR when it was 16c, been watching VPE for 5 years, and was listening to you when you were going 'gang busters' on BOW... If MEO blows which I believe it will then I will be able to start thinking of diversified portfolio....
Some of these little oilers are no more riskier than big stable companies...
sentiment means alot in this industry... sometimes it takes longer to turn
than percieved....
:cool:
.^sc

[bermuda]

Shrewd,
I should really make this a PM but hey why dont we all join in on this little beauty.

VPE is seriously affected by sentiment. ( viz,NZO..but to a leeser extent )

It is standout material.

Sell half your MEO and jump on VPE.

You will have paid your University fees by Christmas....and plenty left over for a holiday.

Catcha

[yogi-in-oz]

:)

Hi folks,

VPE ..... looking at the time cycle analysis over the next
few months, it seems November 07 should be quite positive ..... :)

19102007 ..... negative light on VPE ... :(

26-29102007 ..... negative news here ... ???

07112007 ..... more negative news ???

16-19112007 ..... positive spotlight on VPE ... :)

27-29112007 ..... positive news expected here = BIG move ???

03122007 ..... negative cycle ... finance-related???

18122007 ..... 2 difficult cycles and significant news ???

27-28122007 ..... significant and positive - finances ???

04-07012008 ..... major and negative news

16012008 ..... 2 cycles here ... negative spotlight on VPE

21012008 ..... difficult cycle

happy days

paul

:)

=====

:)

Hi folks,

VPE ... hope you make your money before Christmas, because it may get
very nasty for "Dry Hole Johnny" in January 2008 ... !~!

..... success rate for this company is appalling ... about 3 producers, out of more
than 120 wells ... and NONE of those producers, as operator !~!

Traders have also learned to treat the VPE "drilling schedule" as a joke, often
the wells are on a "sliding schedule" ..... meaning, it could take YEARS before
they become reality !~!

Likewise for SSN, as it should respond to the same cycles as VPE, which also
has a 10(?)% stake in SSN.

have a great weekend

paul

P.S. ..... MEO troubles should start shortly after 11122007 ... with
late-December 2007 and January 2008 looking quite nasty ... !~!

:)

[Crypto Crude]

yogi----P.S. ..... MEO troubles should start shortly after 11122007 ... with
late-December 2007 and January 2008 looking quite nasty ... !~!

yogi,
what makes you say that about MEO.... first of all buddy, next week company is going to interscet gas bearing zone... and that is before the end of Nov... Company is expected to float if they do intersect which is likely... But you have company announcing bad news some time from the 11th Dec onwards... are you saying that company will be on an extended
Trading halt or Something? what makes you think that company will take a dive?
how can you determine drilling outcomes?
>>>>the three big questions<<<<

Some of the things you say about VPE are correct, but are you sure that its 3 producers out of 120 wells?
man, Id hate to prove you wrong and waste my time doing so!!!
Bermuda and I both said that its all about changing sentiment.... Santos are no mugs... VPE is onto a good thing with 7 free carried drills ,there will be sliding schedule as you say... I am aware of a sliding schedule and investors in this industry are aware of delays... its almost certian when holding oil stocks that there will be delays...
:cool:
.^sc

[yogi-in-oz]

:)

Hi SC,

VPE ..... some of us have been around long enough, to have followed
DHJ through EVERY ONE of those 120 wells ... so, please go ahead
and verify the count ... !~!

MEO ... ah, the eternal optimist ... let's just let it unfold, with time ..... :)

CUE ... improved trading over the past few days, but still
under the longer averages right now and may see
more negativity around 27-28112007.

Should be looking good, from around 10122007 and
positively BOOMING, about 07-14 January 2008, with
news expected on 11012008.

have a great weekend

paul

:)

=====

[Mick100]

Some of the things you say about VPE are correct, but are you sure that its 3 producers out of 120 wells?
man, Id hate to prove you wrong and waste my time doing so!!!
Bermuda and I both said that its all about changing sentiment.... Santos are no mugs... VPE is onto a good thing with 7 free carried drills ,there will be sliding schedule as you say... I am aware of a sliding schedule and investors in this industry are aware of delays... its almost certian when holding oil stocks that there will be delays...
:cool:
.^sc

Yes, I think yogi is probably correct with his success rate for VPE
I do know that john K drilled over 100 successive dry holes before having a strike

Be careful with this one shrewd - I had another quick look at it the other night and it doesn't appeared to have changed much since when I was holding a couple of yrs ago - looking at the drilling schedual you would think that these guys coudn't go wrong but their past track record proves otherwise - I could be wrong this time - having Santos as partner is certainly encouraging

ex holder- VPE
.

[seaosh]

Maybe Yogi has somehow foreseen that the MEO testing next week is going to go horribly wrong, resulting in a massive fireball or something?

[Crypto Crude]

Yogi,
your all spaced out starring at stars and smoking dobies (too much puff puff my friend)....... If your theory of pre predicting drills was correct then you would be the richest person alive.... for-real... you would load up on CFD's and bank large profits...and you wouldnot have to sell financial advice books.... you are just like the rest of us and cant prepredict drilling outcomes...
If someone like shasta, Steve Fleming, or Bermuda, oiler warned me off it then I would be concerned.... the fact that it is you makes no difference at all... Ive seen your performance with your precise timelines...
....
yes as you said time will tell...
good luck to ya...
:cool:
.^sc

[Crypto Crude]

yogi was to busy star gazing when VPE had 100 successive dry wells...
historical performance dont equal future performance....Im not going to prove you wrong because I cant be bothered.... it certainly has a few discoveries not yet in production... VPE wouldnot have been on my buy list if it hadnot come down like this over about a 3-4 year period since Ive been watching it only...
started thread a month or two back when it was 13c... not bad returning so far considering...
VPE is a buy with risk... this CSG will get VPE in 'gang buster' mode...
GB, my new word...:D
:cool:
.^sc

[bermuda]

Shrewdy,
As you know I sold up my diversified bull**** portfolio after I read the book about the Gnomes of Zurich who strongly advocated doing a heap of research and then buying one stock.

That I did and after analysing about 40 oil stocks I chose NZO at 26 cents and this move changed my life. I retired early and now follow my passion which is oil. I wish I had done this years ago .

You know I am big into Peak Oil. If you read between the lines the price of oil has got to go up. We are 15 years away from being able to substitute alternatives for our oil.At least.

Over the last 6 months I have increased the number of stocks I have because there are so many little gems out there. However I am very conscious that I am although all my stocks are in oil ( except PRC ) the number of stocks I have is creeping up.

I will simply have to cull some.I sold out of PPP and NZOOD and put the dosh into BOW and following the news of their drilling programme with Santos and their involvement with VPE in CSG I decided to get seriously into BOW and get into VPE/VPEO with a 500k entree .

I have read through all the files and the 'Dry Hole Johnny" stories and have acted accordingly. This VPE is a standout.

You have heard me go 'gangbusters' about BOW.Well I put my money where my mouth is. And I am going to buy some more VPE. I mean why not? They wont last at 16 cents.( I should post this after I have bought but judging from some of the comments on this thread it would appear that a lot of posters are seriously stained with the past and cant see the future. Some even look to the stars! )

Life is a bit of a gamble so do your own research. I have done mine and that's why I hold the following stocks

NZO, PRC, LMPOA,
BAS, BOW, NWE, TEX, PES, VPE, VPEO

Hope Ashburton doesnt drive you crazy mate.

[Crypto Crude]

Bermuda,
I must read Gnomes of Zurich, Murph has told me about it before...
Ive loaded up large twice before... first time was with PPP a few years back when it looked a dead cert at 11c AUS.... sold out much shorter than a year at 17c AUS.... and this year when I loaded up on NWE at 16.8c average.... Id only do it if I thought It was a dead cert...
Ive not loaded up on MEO but im holding over 10k and looking to have alittle dabble with CFDs again....
....
I'll be just fine in Ashburton capital B, I'll take that Matt Simmons peak oil book and read it a couple of times... Im working 12 hr shifts and 6 days a week mate... wont have time to go crazy mate...the people are shiit but hey, the moneys real good...
students gotta do what they gotta do, and my earnings power decreases next year when Im full time for my last year...
....
catch you when I get back on one of my days off...
:cool:
.^sc

[Crypto Crude]

VPE up almost 10% today...
:cool:
.^sc

[Paddie]

VPE up almost 10% today...
:cool:
.^sc


Have held bow for over 12 months and enjoying the rise in share price (36c currently)

What I can't understand is why VPE isn't being rerated more closely to BOW.

Paddie

Hold BOW, no VPE

[bermuda]

Have held bow for over 12 months and enjoying the rise in share price (36c currently)

What I can't understand is why VPE isn't being rerated more closely to BOW.

Paddie

Hold BOW, no VPE

Exactly Paddie,
She's still flying well below the radar. The only ones that tune in have been burnt before.

So you have 2-3 weeks to get on board before the media catch up with it.

A huge standout.Just read the London presentation. You know about sentiment stocks.

A bit like NZO actually.

[bermuda]

Have held bow for over 12 months and enjoying the rise in share price (36c currently)

What I can't understand is why VPE isn't being rerated more closely to BOW.

Paddie

Hold BOW, no VPE

Exactly Paddie,
She's still flying well below the radar. The only ones that tune in have been burnt before.

So you have 2-3 weeks to get on board before the media catch up with it.

A huge standout. A HUGE STANDOUT

Just read the London presentation. You know about sentiment stocks.

A bit like NZO actually.

About to go to 40 cents plus.

[Paddie]

Exactly Paddie,
She's still flying well below the radar. The only ones that tune in have been burnt before.

So you have 2-3 weeks to get on board before the media catch up with it.

A huge standout. A HUGE STANDOUT

Just read the London presentation. You know about sentiment stocks.

A bit like NZO actually.

About to go to 40 cents plus.


Thanks Bermuda,

Picked up a parcel today.

Paddie

[seaosh]

I also jumped into this one on Monday and topped up today.

Hoping for good things.

[yogi-in-oz]

:)

Hi folks,

4:57 pm VPE: New Issue, Appendix 3B, Prospectus and Share Purchase Plan

..... here we go, again ... !~!

happy days

paul

:)

=====

[seaosh]

They decided to issue 32.5 million shares (about 15&#37; of their current 217 million) at 13 cents.

Well I guess that's going to put a bit of a damper on the price short term.

Isn't the discount on the share price rather large?

[Mick100]

:)

Hi folks,

4:57 pm VPE: New Issue, Appendix 3B, Prospectus and Share Purchase Plan

..... here we go, again ... !~!

happy days

paul

:)

=====


This company is a joke:D
,

[Crypto Crude]

mick,
are you prepared to put a wager on this company with me...?
great leverage with zero cash outlay mate!
:cool:
.^sc

[Mick100]

mick,
are you prepared to put a wager on this company with me...?
great leverage with zero cash outlay mate!
:cool:
.^sc

No I don't want a wager - I'm not a gambler shcrewd

The only thing that changes with VPE are the shareholders - new mugs replace old mugs - I'm an old mug
,

[Crypto Crude]

Mick,
enough of the name calling mate....
share investment has nothing to do with gambling...
you of all persons should know that....
:cool:
.^sc

[bermuda]

They decided to issue 32.5 million shares (about 15% of their current 217 million) at 13 cents.

Well I guess that's going to put a bit of a damper on the price short term.

Isn't the discount on the share price rather large?

Obviously done before the news on Taringa-1.

WELL THERE ARE TWO WAYS TO LOOK AT IT.

1.Ther will be a dampener on the shareprice as all the doubters surface and say ' here we go again' and I will be able to pick up some more at very attractive prices....or

2, The market now knows this was done before taringa and now realises VPE has the dosh to take the program forward.

Interesting though

[Lebowski]

I think the best way to look at this issue is if the next drill comes thru then the entitlement to shares at 13 cents will be a bargain even allowing for the increase of shares on issue.Fingers crossed:)

[diamond h]

Hi Posters,
Just joined up recently and appreciate being able to feed off the experience and knowledge that you people have.I was going to buy some vpe today but am not now sure if the timing is still right after yesterdays news. Can anyone offer any "guess" as to what should happen to the share price in the short term ? I realise that I need to do my own homework but would appreciate any advice as I am a novice. Did buy some BOW at 24c . Thanks

[bermuda]

Hi Posters,
Just joined up recently and appreciate being able to feed off the experience and knowledge that you people have.I was going to buy some vpe today but am not now sure if the timing is still right after yesterdays news. Can anyone offer any "guess" as to what should happen to the share price in the short term ? I realise that I need to do my own homework but would appreciate any advice as I am a novice. Did buy some BOW at 24c . Thanks

I am going to wait for a market low and then buy. Trouble is I have to play b.golf just when the Aussie market opens. Might cancel and play 2moro.

( Well done on your BOW. Great finish yesterday. Great to have ARROW as a shareholder eh? )

I dont think us amateurs know enough about what's happening inside VPE but I sure do like their 12 month program.

[diamond h]

Thanks. I am off to Charteris Bay Golf Course later today.

[seaosh]

One weird thing I don't like so much about VPE is the apparent absence of any large shareholders. Seems nobody thinks enough of the company's prospects to have taken out or held onto a big stake.



A question about this new share issue. . . Can anyone just confirm that there are two separate things happening here?

1 - Issuing 32.5 mill shares for institutions to buy/market.

2 - Offering each existing shareholder the chance to buy a small parcel for themselves at this issue price (over and above the 30 mil+ being issued)

So actual dilution will exceed the 32.5 million (but of course extra cash also raised), correct?

Another question just out of idle curiosity. . .

In this situation , since the cheap share allocation is offered to all shareholders irrespective of the size of their holding, wouldn't it make sense for those holding large parcels to split their holdings into smaller parcels before the record date (give them to family or friends or something) and thus qualify for multiple allocations of 'cheap shares'? Of course this is assuming they wanted the cheap shares in the first place.

[bermuda]

Seaosh,
I thought the same things. Lots to find out.

If they had traced BOW's upward movement then wow, this placement would have looked silly.

I reckon the shareprice could really fire once we get rid of this placement. It smacks a bit of insider knowledge. I mean why chase VPE upwards ( like BOW ) if you knew there was a 13 cent placement coming along.

It was either that or market sentiment ..or a mixture of both.

[seaosh]

Man I am pissed off right now. . . On Monday I take a loss on GDM to fund VPE. VPE issues a share placement at a discount after market close Tuesday, and GDM rockets on market open Wednesday. . .

Now if I had only slightly adjusted my schedule in reinvesting those funds. . .

[Serpie]

In that case Seaosh, how about dumping all of your NWE today? Then it will fly tomorrow.

Besides, it's about time you got one wrong!

[seaosh]

Not doing anything with NWE before they drill Cobra. That one is going to come right.

I think the AED AGM happens today. Maybe investors will come away from that in a positive frame of mind about the issues with Puffin and sentiment will improve on NWE as well?

[seaosh]

I think the AED AGM happens today. Maybe investors will come away from that in a positive frame of mind about the issues with Puffin and sentiment will improve on NWE as well?

OK, maybe not. . .

[Crypto Crude]

Bermuda,
I must be the luckiest kid alive...
I Have been waiting weeks to enter VPEO and yesterday got in...
Over the last few weeks there hadnot been big selling pressure with falling prices and I didnot miss this chance...
That dude on SS took the options I would have taken, and now im set....
150k at 5.9cents...
I did buy 53k a few days before at 7.5cents...
Im Still 30-40&#37; cash...
sad to hear about Gerry...
disc... VPEO, MEO looking to sell down
:cool:
.^sc

[bermuda]

Bermuda,
I must be the luckiest kid alive...
I Have been waiting weeks to enter VPEO and yesterday got in...
Over the last few weeks there hadnot been big selling pressure with falling prices and I didnot miss this chance...
That dude on SS took the options I would have taken, and now im set....
150k at 5.9cents...
I did buy 53k a few days before at 7.5cents...
Im Still 30-40% cash...
sad to hear about Gerry...
disc... VPEO, MEO looking to sell down
:cool:
.^sc

That's why they call you Shrewd Crude.

Well done mate.It's great to have the CBM Reserve Certification done by the same people who did the neighbouring Lacerta Field.

Imagine if BOW and VPE can prove it up and export it to Japan as LNG.

What a lovely energy source going into the future

[STRAT]

Hi fellas, How much to exercise VEPO and how long do they have left to run?

[macduffy]

I'm not a holder but I believe the strike price is 25c and expiry date is 31Jan 2010.

[yogi-in-oz]

:)

Hi folks,

FWIW ... there's more downside expected for VPE, especially around:

04-07012008 ..... negative news expected here

16012008 ..... negative spotlight will be focused on VPE !~!

21012008 ..... minor cycle

14-15022008 ..... 3 negative cycles here

18022008 ..... minor and positive (intraday)

10-11032008 ..... 2 cycles ... minor news expected

14-17032008 ..... positive spotlight on VPE

31032008 ..... positive news expected

02042008 ..... positive cycle ... finance-related???

..... and VPE is already trading under the longer MAs ... :)

Happy New Year

paul

:)

=====

[bermuda]

:)

Hi folks,

FWIW ... there's more downside expected for VPE, especially around:

04-07012008 ..... negative news expected here

16012008 ..... negative spotlight will be focused on VPE !~!

21012008 ..... minor cycle

14-15022008 ..... 3 negative cycles here

18022008 ..... minor and positive (intraday)


10-11032008 ..... 2 cycles ... minor news expected

14-17032008 ..... positive spotlight on VPE

31032008 ..... positive news expected

02042008 ..... positive cycle ... finance-related???

..... and VPE is already trading under the longer MAs ... :)

Happy New Year

paul

:)

=====

You're good Yogi, you're good.

Sounds like a positive takeover.

Yogi, this my 2nd edit. I have just read your post to Shrewd re MEO. That's not your style . Not good.

[yogi-in-oz]

:)

..... VPE closes 2007, almost 50% down from where it started in January 2007,
with more downside in January/February 2008 ..... :)

HAPPY NEW YEAR

paul

:)

=====



:)

Hi folks,

FWIW ... there's more downside expected for VPE, especially around:

04-07012008 ..... negative news expected here

16012008 ..... negative spotlight will be focused on VPE !~!

21012008 ..... minor cycle

14-15022008 ..... 3 negative cycles here

18022008 ..... minor and positive (intraday)

10-11032008 ..... 2 cycles ... minor news expected

14-17032008 ..... positive spotlight on VPE

31032008 ..... positive news expected

02042008 ..... positive cycle ... finance-related???

..... and VPE is already trading under the longer MAs ... :)

Happy New Year

paul

:)

=====

[Crypto Crude]

sounds good to me Yogi,
Im looking to extend my holdings sub 6cents...
:)
.^sc

[bermuda]

sounds good to me Yogi,
Im looking to extend my holdings sub 6cents...
:)
.^sc

Shrewdy,
Are you and I having a battle to get these VPEO's? I had an order in for 1 million extra but had to increase my bid and drop the level down to 900,000. If it is you I will withdraw and hunt down another little gem I have my eye on.

I dont think it was Yogi.

Hey Shrewdy, what do you think about Odin Energy coming in? I researched them and this could be very useful.

Also good news with VPE's involvement in the GreenEarth Float coming up shortly.

[Hawke]

Hey Bermuda,
I was having succes in getting some Vpeo's in the low 6c range.
These should well be exceptional investments.

Reminds me of the early days of NOGOC/NOGOD's

Good luck!

[bermuda]

Hey Bermuda,
I was having succes in getting some Vpeo's in the low 6c range.
These should well be exceptional investments.

Reminds me of the early days of NOGOC/NOGOD's

Good luck!

Yes I remember those days fondly.

Got a really great feeling about VPE. Same as that I had for BOW but just even more powerful.

Hey, what do you think about NZO going up today in this sea of red. Somethings up?

[Hawke]

Vpeo's are great with a long exercise time and great prospects ahead!

Yeah Bermuda the NZO rise was strange......perhaps Dropstick or Minder etc know somethings up?

The Nzood's look dead in the water- but stranger things have happened and perhaps a plan is afoot to get the SP over the Oppie line??
We will see.

Cheers.

[Corporate]

Hey Bermuda,
I was having succes in getting some Vpeo's in the low 6c range.
These should well be exceptional investments.

Reminds me of the early days of NOGOC/NOGOD's

Good luck!

Sorry, isn't VPE trading at 14c?

[macduffy]

VPEO's are the listed options.

May have to buy a few ;) If there's any left!

[Corporate]

VPEO's are the listed options.

May have to buy a few ;) If there's any left!

So sorry I'm a bit of a novice when it comes to options. Am i correct in thinking that the price to purchase one option is 6.9cents and the price at which you have the option to purchase shares (using the option), is the current market value?

So the value of the VPE's shares would have to raise to (current share price + 6.9cents) to be in the money?

Thanks
James

[bermuda]

Sorry, isn't VPE trading at 14c?

Please read the ASX announcement in December re the London Presentation and then follow up with the pertinent announcements made since.

I think you will be impressed.

[Corporate]

Please read the ASX announcement in December re the London Presentation and then follow up with the pertinent announcements made since.

I think you will be impressed.


I could not find an announcement indicating that is what in relations to a london presentation?

[Hawke]

Hi James,

Please study options and how to trade them before buying. Buying options near expiry can be dangerious.

They are an optional agreement (option) to buy head shares directly from the company (new shares) at a fixed price -25c within a set timeframe JAN 2010- expiry date.
Formulas give approximate option prices given all relevant factors.....markets sometimes misprice- pouch when this occurs.

CHECKOVER ALL COMPANY REPORTS/ presentations

STUDY!!

[bermuda]

I could not find an announcement indicating that is what in relations to a london presentation?

I looked it up on Google for you.

Look for London Presentation 8 Nov 2007. Sorry I got the month wrong.

It makes a very good read imho.

[Crypto Crude]

Bermuda,
it wasnot me bidding on VPEO...
I've exhausted a chunk of my resources on these options and unless they come below 6cents then I wont buy them...This will sound silly in 6 months time on where this one is headed...
I Probably need to start diversfying....
so that is why im looking at the head shares now...:D....
....
What a carnage day...
ive never seen it like this before...
....
I havenot looked at odin yet...but have heard of the company
Anyone taking a stake is good news...
I dont care if its jack rabbit junior buying in a market like this, as long as its happening
wow haaa....
:cool:
.^sc

[Crypto Crude]

Man,
I saw VPE breakthrough 14, 13.5 and today 13, 12.5, 12, it may have touched 11.5 and then I dumped all my VPEO at 5.8cents... a loss of roughly 10%.... just gave back all my profits on MEO...
VPE was solid this year and didnot fall on any of the down market days so I was happy to hold them...
with DOW set to tumble tonight then it is likely that ASX could drop much further...
....
The leverage that VPEO had,has now been destroyed... at 30.8cents the options are at breakeven... With the heads abit lower,then thats a 200% profit on heads for options to be breakeven and ive had to adjust my position and look to re-enter at a later stage....
VPEO are now only real real
profitable if the heads boom something like 6 bagger plus...eg but a 4 bagger on heads is still real lucurative for Options...
heads at 12c -> 60c = 4 bagger...
60c-25c=35c /6 = approx 6 bagger on options...
anything less than 30 cents for heads is a loss on the options and in the current market anything could happen to the options/heads...
...
Im not selling on fundamentals... Im selling because Im looking to enter at a cheaper price and I im not gambling the student loan on Market risk...
I will only gamble the student loan on spec oil stocks that I percieve to be cheap...

With the leverage now gone from VPEO,
I will look to re-enter shortly into the heads/bow and others, or back into VPEO at an appropriate price depending on if they fall further,or the heads rise...
... I was happy to hold until today because the heads held a strong support level around 14cents plus or minus...
With BOW below 20c its time to also have a good gork at that one...
currently only holding 20k FAR...
wait on drilling results there...
VPE at 12c and NWE at 14c is unsustainable, it willnot remain like this in a sideways market... big returns are to be made... So I will watch the markets closely and try to time my re-entry and seek advice from others...
... muderous sell off of these valuable spec oilers continues...
ahhhh.... after this im off on holiday to Auckland...cheers...
:cool:
.^sc

[bermuda]

Man,
I saw VPE breakthrough 14, 13.5 and today 13, 12.5, 12, it may have touched 11.5 and then I dumped all my VPEO at 5.8cents... a loss of roughly 10%.... just gave back all my profits on MEO...
VPE was solid this year and didnot fall on any of the down market days so I was happy to hold them...
with DOW set to tumble tonight then it is likely that ASX could drop much further...
....
The leverage that VPEO had,has now been destroyed... at 30.8cents the options are at breakeven... With the heads abit lower,then thats a 200% profit on heads for options to be breakeven and ive had to adjust my position and look to re-enter at a later stage....
VPEO are now only real real
profitable if the heads boom something like 6 bagger plus...eg but a 4 bagger on heads is still real lucurative for Options...
heads at 12c -> 60c = 4 bagger...
60c-25c=35c /6 = approx 6 bagger on options...
anything less than 30 cents for heads is a loss on the options and in the current market anything could happen to the options/heads...
...
Im not selling on fundamentals... Im selling because Im looking to enter at a cheaper price and I im not gambling the student loan on Market risk...
I will only gamble the student loan on spec oil stocks that I percieve to be cheap...

With the leverage now gone from VPEO,
I will look to re-enter shortly into the heads/bow and others, or back into VPEO at an appropriate price depending on if they fall further,or the heads rise...
... I was happy to hold until today because the heads held a strong support level around 14cents plus or minus...
With BOW below 20c its time to also have a good gork at that one...
currently only holding 20k FAR...
wait on drilling results there...
VPE at 12c and NWE at 14c is unsustainable, it willnot remain like this in a sideways market... big returns are to be made... So I will watch the markets closely and try to time my re-entry and seek advice from others...
... muderous sell off of these valuable spec oilers continues...
ahhhh.... after this im off on holiday to Auckland...cheers...
:cool:
.^sc

Shrewdy,
You are probably right but the market has had a whole day staring at the DOW futures for 2moro at minus 500 and I think it has scared the pants off everyone...That together with the leverage/margin calls having to force investors into a free fall means that I think today was the big awful day.There will be more to come..we aint out of this but in terms of these little aussie oilers I think the worst is over.

Good news for VPE again today following Odin Energy taking a position. Apparently ITC ( a partner in the Growler Field) are trying to oust JK. This can only be due to the fact that Growler is going to be a little winner and is sitting in the middle of a Jurrassic oil Fairway that is forecast to yield 100 million barrels.This is the very reason why SANTOS have got back in to drill a 7 well program with BOW and VPE.

Growler hit a 16 metre column and and has recoverable oil of 1.6 million barrels.

Growler ITC 40% VPE 40% ROMA ( RPM ) 20%

I picked up 100k VPEO today and will try for more 2moro. Also picked up 500k of ROMA and this was before I saw the news on ITC's website dated 18 January. Have a look. I think you should reenter. The oppies dont expire until Jan 2010.

Life is about risk and opportunity.I am certainly in.

[Hawke]

VPE looked very tasty at prices over the last two days- I snagged a few.
What happened to your buy order Bermuda?

[bermuda]

VPE looked very tasty at prices over the last two days- I snagged a few.
What happened to your buy order Bermuda?

I got 100k extra VPEO to take me to 1.1m. My objective is 2m...and my objective with Roma ( RPM ) is 1m. Have a look at RPM's report yesterday.

There seems to be a bit of a battle for control of VPE going on. ITC are trying to get rid of JK. Could be real interesting!

[Hawke]

VERRRY interesting letter to Shareholders released by the Boss of VPE tonight......looks like someone wants to knife the current board.

Well this will ignite some interest.

Hawke.

[bermuda]

VERRRY interesting letter to Shareholders released by the Boss of VPE tonight......looks like someone wants to knife the current board.

Well this will ignite some interest.

Hawke.

Hey guys. Watch the tennis. History.

[seaosh]

Hey guys. Watch the tennis. History.

Err. . . maybe. But lets not lose sight of the fact that the guy apparently only controls 3 million shares, or less than $400k.

The posters in this thread must control more shares than this guy. If this is 'big news' then we could have generated it ourselves.

There may be something in it. Or it may just be a stunt.

[bermuda]

Err. . . maybe. But lets not lose sight of the fact that the guy apparently only controls 3 million shares, or less than $400k.

The posters in this thread must control more shares than this guy. If this is 'big news' then we could have generated it ourselves.

There may be something in it. Or it may just be a stunt.

Well said,
I am not happy with his commitment.

But hey,
What a company.

[bermuda]

Look for some big action in the next month.

BG ( UK's 3rd largest gas co. ) has taken a stake in QGC and plans to build another CSG LNG plant in Gladstone.

VPE has some very good permits and along with BOW are in a great position to prove up a very good permit drilling into the very gassy Walloon coals.

Still well under the radar but starting to get noticed by the big boys.

[Crypto Crude]

haha...
sold VPEO at 5.8c when the heads were trading at 11.5c....
Now the heads are trading at 16c and VPEO sellers are at 5.7c....
watching very closely...
:cool:
.^sc

[tricha]

haha...
sold VPEO at 5.8c when the heads were trading at 11.5c....
Now the heads are trading at 16c and VPEO sellers are at 5.7c....
watching very closely...
:cool:
.^sc

Hey Shrewd.

I know both you and Bernuda are very keen on VPE, why do you reckon the options have not moved up with the normal shares.???

Is this a huge discount or what ??

Cheers

[bermuda]

Hey Shrewd.

I know both you and Bernuda are very keen on VPE, why do you reckon the options have not moved up with the normal shares.???

Is this a huge discount or what ??

Cheers

Market nerves. I have only got 1.4 m of them and really want to get to $2m VPEO. Hold 1m ords.

You dont get it better than this. I think you understand.

Great book you lent me . Lot of research eh?

[Crypto Crude]

Tricha,
I just got very lucky that I could sell my vpeo when I did, when the shares fell large on that big down market day, 22nd Jan I think it was....
I was in panic mode when I saw the heads eat away at my leverage and fall to 11.5c... vpeo trades at a premium....
I made the mistake of not switching vpeo to vpe...
ok, is vpeo currently trading at a discount?
well no... its trading at a premium, but as you know most speculative oiler options trade at massive premiums and the potential that VPE holds does give the big up...
at 5c it will cost 30c in two years to buy heads that are currently trading at 15.5c....
heads will be more than 30c by expiry...
:cool:
.^sc

[Crypto Crude]

But yes, vpeo has lagged since the heads have been rising up...
market risk does also come into the equation -> markets do not believe high PE ratio stocks will get growth in a recession...
:cool:
.^sc

[bermuda]

The battle for VPE continues .
A special report done by StockAnalysis Peter Strachan values them very conservatively at 50 cents. Still trading at 16.5 today.

And that does not take into consideration the possibility that the 50BCF target to be drilled by Queensland Gas has according to a new 'desk top' study , the potential to be a lot higher at 1000BCF.

That's QGC's study. Not VPE's.

DYOR.

[Financially dependant]

A lot of activity today with VPE!

[stephens.pc]

Pleased I got on board yesterday

[upside_umop]

VPE has been doing well, but the options have been lagging and going backwards!
Shrewdie whats up with this? Looking reasonably attractive...strike price of 25 cents in 2010 right?

[Crypto Crude]

good value with VPEO, they just havenot moved...
yup 25c, 2010
:cool:
.^sc

[tricha]

Excellent news, will keep the contestants honest.

3:31 pmNotice of Initial Substantial Holder from QGC (http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=165026)

[Paddie]

Looks like Bermuda is on the money again.

Paddie

[tricha]

Looks like Bermuda is on the money again.

Paddie

He sure is on the money again and Shrewd. Thanks guys for putting me onto this winner :p

I wonder what the doubters on HC will say to Bermuda now :(

[KentBrockman]

He sure is on the money again and Shrewd. Thanks guys for putting me onto this winner :p

I wonder what the doubters on HC will say to Bermuda now :(

Hey Tricha, I'd say the 'doubters' on HC didn't have so much trouble with Bermuda's assessment of the value of VPE, but more with his unquestioning support of JK.

I still believe he's wrong on that score.

May all be meaningless now, as with the arrival of QGC JK's fate may be sealed anyway.

[bermuda]

Hey Tricha, I'd say the 'doubters' on HC didn't have so much trouble with Bermuda's assessment of the value of VPE, but more with his unquestioning support of JK.

I still believe he's wrong on that score.

May all be meaningless now, as with the arrival of QGC JK's fate may be sealed anyway.

Kent,
I saw the value in this company late last year and since then JK hasnt put a foot wrong. I always look at the fundamentals.

He has very good contacts in this Industry and a very good forward Plan. I try to cut through the sentiment...but I can understand it.

In a nutshell, 4 companies have signalled they want to build export LNG plants .SHG has attracted Japanese interest and QGC have attracted British Gas.The plants need 7 TCF to make it viable.There is going to be a lot of m/a coming up.

JK has secured some very valuable CSG permits and had to work hard to convince his fellow Directors to get it. As I have said before , the man has a vision for VPE and I just wish more shareholders would forget the past ( which I know is hard ) and grasp just what exactly is in front of them.

Enjoy the ride. Strachan from StockAnalysis has run the figures. The Don Juan CSG ( when proved ) is worth 60 cents to VPE on its own.

[mark100]

Come on QGC have a nibble of BOW as well! I bought BOW for exposure to Don Juan CSG as I wasn't keen on VPE's history. VPE as soared since then and BOW has gone backwards

[bermuda]

Come on QGC have a nibble of BOW as well! I bought BOW for exposure to Don Juan CSG as I wasn't keen on VPE's history. VPE as soared since then and BOW has gone backwards

Mark,
BOW wont move until March 31.Watch out then though.

They have to get rid of the 20 cent option exercise. Happens all the time.

[stephens.pc]

Off to a flyer again today, great stuff.

[Crypto Crude]

im back in Roma...
:cool:
.^sc

[Corporate]

im back in Roma...
:cool:
.^sc

SC can you please explain the connection ?

[ronthepom]

Mark,
BOW wont move until March 31.Watch out then though.

They have to get rid of the 20 cent option exercise. Happens all the time.

Hi Bermuda,

agree with what you say re BOW also hold quite a few and waiting for them to get going.

What do you think of ESG ann today i hold these also and think they are a good buy?

like to know your thoughts please.

[bermuda]

Hi Bermuda,

agree with what you say re BOW also hold quite a few and waiting for them to get going.

What do you think of ESG ann today i hold these also and think they are a good buy?

like to know your thoughts please.

Hi Ron,
ESG are an oustanding play but I cant own all these CSG stocks.I work towards leverage which is why I like RPM and VPE...and BOW...and PES.

But hey, ESG has winner written all over it too....plus they have a share of Sapex .

[bermuda]

Hi Ron,
ESG are an oustanding play but I cant own all these CSG stocks.I work towards leverage which is why I like RPM and VPE...and BOW...and PES.

But hey, ESG has winner written all over it too....plus they have a share of Sapex .


Sanity prevails at the special meetings held today. The present board has been retained. Yippeee. I am pouring a big bourbon to celebrate . Well done JK.

[ronthepom]

Sanity prevails at the special meetings held today. The present board has been retained. Yippeee. I am pouring a big bourbon to celebrate . Well done JK.

Yeh good to see Bermuda,they are ticking over nicely now, hold bow vpe rpm esg ppp and shg, having a tipple myself a Glahva been hot here in Rangiora today still is.

[ronthepom]

Sanity prevails at the special meetings held today. The present board has been retained. Yippeee. I am pouring a big bourbon to celebrate . Well done JK.

ooops i forgot oel as well.

[Crypto Crude]

I Sold all my VPEO today at 5.8c...similar to buy in price...I had to sell something to buy a few GGX... and Im looking at one other..
sold the options and hoping to buy a few VPE heads...
These damn Options offer the biggest leverage but they never do anything/never did anything...
Ive watched the heads boom 100&#37; and the options lag massively...
I guess thats what you get when you buy something with a massive premium attached... VPEO currently have a massive premium...
This is common enough for Oil stocks...
:cool:
.^sc

[bermuda]

I Sold all my VPEO today at 5.8c...similar to buy in price...I had to sell something to buy a few GGX... and Im looking at one other..
sold the options and hoping to buy a few VPE heads...
These damn Options offer the biggest leverage but they never do anything/never did anything...
Ive watched the heads boom 100% and the options lag massively...
I guess thats what you get when you buy something with a massive premium attached... VPEO currently have a massive premium...
This is common enough for Oil stocks...
:cool:
.^sc

Shrewdy,
You have to take a longer term.Look what is going to possibly happen to VPE

1.Growler starts producing
2. Wirraway gets a big tick
3.Don Juan gets certified (worth 60 cents on its own )
4.Santos Cooper Basin program strikes oil
5.Overseas interest increasing all the time
5.India now taking a strong interest.

The options dont expire until January 2010

Too good to sell imho but good luck with your trading

[Crypto Crude]

Bermuda,
In this market I dont have a long term view on any stock... VPE is one of the best stocks that I can see... I agree with everything yourve said... The Peter Strachan report valuing VPE at 50cents is conservative...
Ive felt slightly put off VPEO with whats happened and I did say I was going to buy some heads...
... Its made me wonder who is depressing VPE's SP... Ive thought that it could be queensland gas, maybe about to do a move on ODN... I dont know... But Im going to reposition myself in the stock so that when it does blow up 100% next time, that I will make money off it....
I already hold plenty of options elsewhere...
...
It damn sucks with stocks like this... it booms to 27c, as an individual you know its worth north of 50c... you dont sell it... it retraces...
....
your right though, this investment requires a long term strategy...a strategy Im not sure that im prepared to give...
:cool:
.^sc

[bermuda]

Bermuda,
In this market I dont have a long term view on any stock... VPE is one of the best stocks that I can see... I agree with everything yourve said... The Peter Strachan report valuing VPE at 50cents is conservative...
Ive felt slightly put off VPEO with whats happened and I did say I was going to buy some heads...
... Its made me wonder who is depressing VPE's SP... Ive thought that it could be queensland gas, maybe about to do a move on ODN... I dont know... But Im going to reposition myself in the stock so that when it does blow up 100% next time, that I will make money off it....
I already hold plenty of options elsewhere...
...
It damn sucks with stocks like this... it booms to 27c, as an individual you know its worth north of 50c... you dont sell it... it retraces...
....
your right though, this investment requires a long term strategy...a strategy Im not sure that im prepared to give...
:cool:
.^sc

Hi Shrewdy, just about to go and sharpen my tennis game.

Agree what you say above. But these CSG stocks are still germinating.especially BOW, RPM and VPE and Sapex. They need 6-9 months of testing before certification and they need a partner with cash for development.

Petronet from India is studying them all and will move sometime and quickly. I aint selling as long as this big fish ( and others ) are circling.

Have read up a lot more on CSG and it looks better than ever...and in a couple of years I can see myself getting into Hot Rock Geothermal.

[Financially dependant]

Hi Shrewdy, just about to go and sharpen my tennis game.

Agree what you say above. But these CSG stocks are still germinating.especially BOW, RPM and VPE and Sapex. They need 6-9 months of testing before certification and they need a partner with cash for development.

Petronet from India is studying them all and will move sometime and quickly. I aint selling as long as this big fish ( and others ) are circling.

Have read up a lot more on CSG and it looks better than ever...and in a couple of years I can see myself getting into Hot Rock Geothermal.

I have got to agree with everything you said, Oil then Gas (CSG) then renewable power are the fuels of the future.

http://business.smh.com.au/gas-boom-to-fire-lng-exports/20080406-243j.html

Look forward to talking more on coal seam methane at the next Chch conference!

[trackers]

1/3 shaved off the sp over the last month....looks cheap; thinking about having a nibble

Anyone care to speculate why the sp has lagged (can't seem to work it out on a lazy friday)

[Mysterybox]

Have just read through this whole thread, seems you've all had a bit of a ride on this one.

Conservative value at 50cents, with the current price at 15cents and the prospects one might assume this is a no-brainer. Esp with the support some of our known players are giving it.

Will be watching this one, prefering it over RPM at the moment to be honest. (we dont have an active RPM topic?)

Thanks

[bermuda]

1/3 shaved off the sp over the last month....looks cheap; thinking about having a nibble

Anyone care to speculate why the sp has lagged (can't seem to work it out on a lazy friday)

Trackers,
The junior aussie oiler market has been severely knocked by Opes. Probably take another month to shake off.

[Dr_Who]

Hey Bermuda, do you know how much more selling do Opes have on VPE? I am gonna do some more reading on this stock and put it on my watch list. Any research reports?

[trackers]

Trackers,
The junior aussie oiler market has been severely knocked by Opes. Probably take another month to shake off.

Thanks Bermuda, think I'll do some research on this over the weekend, then possibly an entry next week.

Looking forward to having a chat at the Oceanic Convention next month :)

[bermuda]

Hey Bermuda, do you know how much more selling do Opes have on VPE? I am gonna do some more reading on this stock and put it on my watch list. Any research reports?

Dr Who,
All you have to do is read the QGC file to see how good this one is. They even took a 7% shareholding in it and appointed their founding Director to the Board of VPE. With what's coming up for VPE, you cant do better than that.

[Crypto Crude]

I wonder who was buying up on ODN this afternoon?...
2.7million shares bought today in 10minutes and 21 seconds...
speculation-takeover of ODN (at some stage) to get to VPE
:cool:
.^sc

[Dr_Who]

Why is ODN buying into VPE?

[Crypto Crude]

Because VPE is a great company...
rule number one- if you cant create your own great company, then steal someone elses!...
:)
.^sc

[Dr_Who]

Seems to me like VPE is a potential T/O target if the numbers starts coming in.

[KentBrockman]

Because VPE is a great company...

.^sc

VPE is NOT a great company (have a look at the SP over the years). It has some nice leases though :)

[tricha]

VPE is NOT a great company (have a look at the SP over the years). It has some nice leases though :)

Suggest Mr Brockman u read a copy of "Who Moved My Cheese", by Dr Spencer Johnston.
Then come back and repeat your statement.

Bermuda is onto it, things are about to change in a huge way. :p And the beauty of it all, there is no sovereign risk ;)

Cottee aims at dangerous energy source


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Kevin Andrusiak | May 03, 2008

YOU would think the head of a $4.2 billion company might choose a less indiscreet ring tone for his mobile phone than a Rolling Stones classic.
Jumpin' Jack Flash belting out at 110 decibels every time Richard Cottee's phone rings is enough to turn anyone off the tune, given that it has been ringing off the hook of late.
Perhaps Pink Floyd's hit, Money, it's a gas, would be more appropriate.
But that's the kind of guy the Queensland Gas managing director is; a straight-shooting proud Queenslander prone to quoting everything from Churchill to the Spice Girls, who knows exactly what he likes.
And, at the moment, as it has been for most of his professional life, he really likes what he sees on the developing Australian coal seam gas front.
While most market watchers had their eyes on either iron ore, coal, nickel, gold or oil as the resources boom went into overdrive, not many had any inkling of the sleeping giant that is coal seam methane.
Even fewer Australians have ever shared Cottee's vision for coal seam gas.
For too long it was the scourge of the coal mining industry -- dangerous, difficult to extract and too cheap to on-sell.
But improved technologies and the world's increasing appetite for cleaner energy sources has changed the market's perception of coal seam gas as a viable energy alternative.
So too has the steep rise in the share price of QGC, which has jumped 2000 per cent since Cottee took the reins of the company back in October 2002.
Earlier this year, QGC had its watershed moment when it inked an $8 billion partnership with British-giant BG Group.
But it hasn't all been smooth sailing.
Queensland Gas has had to beat back a host of hostile predators, survive near-bankruptcy and even allegations that its finance head had been caught up in insider trading of QGC shares.
Shareholders owe a lot of the current good fortune to the unique skills of Cottee, who revels in the title of "reformed lawyer".
"We've forged our way through debt, scepticism, operational setbacks and Machiavellian market plays," he said. "We've grown from a 20c minnow to Queensland's third-largest company. We've done this without a cent of government money."
Cottee can laugh when remembering his return to Australia, jobless, in 2002, after the collapse of US energy firm NRG due to the Enron crisis. He had headed NRG's European operations from London.
He likened his trip home to that of a "convict" being sent to the colonies.
With six children to feed and QGC seemingly on life-support, few would have forgiven him had he blocked his ears to the pleas from company chairman Bob Bryan to join the company. Bryan hunted him down and signed him to the job in the one afternoon.
Six year's later, his personal stake in QGC has grown to $31 million.
That's a relatively small sum when you consider the hundreds of millions and even billions others have made riding the resources boom.
However, few of the nouveau resources rich laugh as loud, or as often, as Cottee. At least not in public.

But there was nothing funny about the perilous state of the company when he first walked in the door in 2002.

Mired in a legal bunfight with its former partner Pangaea Oil and Gas, QGC could barely pay its bills.

In fact, Cottee had to raise equity just to pay staff.

"For two years the company had no future," he said.

"This was a sector I really believed in and I wanted to prove that I could grow a company.

"But I couldn't believe what I saw when I first looked at the company."

The spark came when BHP Billiton finally showed a modicum of interest in QGC's massive Surat Basin tenements.

Cottee had courted the Big Australian hoping to tap its technical brilliance to unlock the methane.

BHP walked away when QGC couldn't deliver economic flow rates, but not before both had devised a well completion technique that proved crucial to the company's survival.

But if Cottee thought things were finally getting on track, the lid was about to be lifted again when Pangaea said it too wanted out.

Its departure triggered a near auction for the company and its gas fields with a host of predators circling including the bigger sharks of Santos, Origin and AGL Energy.

Cottee knew QGC was vulnerable with its market capitalisation of $200 million.

Santos wanted the company for $600 million.

"We were not in production and coal seam gas was still on the nose," Cottee explains.

"We knew that whoever won Pangaea would just mop us up."

But what the bigger players didn't count on was Cottee's survival instincts. Instead of settling for an auction of the company, QGC confounded many by launching its own bid for Sydney Gas.

"Sometimes paranoia has its commercial value," he said. "At the time the market couldn't understand what these maverick upstarts QGC and Richard Cottee were up to.

"What it did do was buy us time. All the shiny-bums who were wanting to takeover QGC had carefully done their sums and drawn up their proposals. And what our bid for Sydney Gas did was send them straight back to their calculators and spreadsheets.

"By the time the dust had settled, QGC had slipped through the nets of two takeover bids and boosted its market capitalisation by $500 million.

"And we lost the bid for Sydney Gas.

"But for half a billion bucks, I'm willing to lose.

"Call me the Hanse Cronje of capitalism."

Next year, gas supplied by QGC will account for 20 per cent of the Queensland market. Its domestic gas sales are expected to double to 60 petajoules in 2009.

BG Group and QGC will be working hard at developing the Queensland Curtis LNG project which will see the construction of a 380 kilometre pipeline and eventually two gas production trains as part of plans to eventually export up to possibly 12 million tonnes of LNG every year for a minimum of 20 years.

By 2012-13, QGC wants to have a 7000 petajoules of 2P reserves. At the moment, QGC has more than 7000pj in the lesser category of 3P.

"More than the combined remaining reserves of the Cooper Basin and Bass Strait," Cottee said with a laugh.

The more QGC continues to grow, the more his phone will continue to pump out Jumpin' Jack Flash.

Just like on Wednesday when someone at BG Group called him at 6am, telling him to be upright and alert later in the morning when BG Group boss Frank Chapman would call.

"We thought it would either be Santos or Origin that BG was going for," he said..

"We thought BG may take out either one and may no longer need us.

"Again, sometimes paranoia pays off.

"I'm not disappointed it wasn't a bid for us.

"If we get taken out it has to be at the right price and in shareholders interest.

"But at the moment we're having too much fun," he said.

[bermuda]

Suggest Mr Brockman u read a copy of "Who Moved My Cheese", by Dr Spencer Johnston.
Then come back and repeat your statement.

Bermuda is onto it, things are about to change in a huge way. :p And the beauty of it all, there is no sovereign risk ;)

Cottee aims at dangerous energy source


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Kevin Andrusiak | May 03, 2008

YOU would think the head of a $4.2 billion company might choose a less indiscreet ring tone for his mobile phone than a Rolling Stones classic.
Jumpin' Jack Flash belting out at 110 decibels every time Richard Cottee's phone rings is enough to turn anyone off the tune, given that it has been ringing off the hook of late.
Perhaps Pink Floyd's hit, Money, it's a gas, would be more appropriate.
But that's the kind of guy the Queensland Gas managing director is; a straight-shooting proud Queenslander prone to quoting everything from Churchill to the Spice Girls, who knows exactly what he likes.
And, at the moment, as it has been for most of his professional life, he really likes what he sees on the developing Australian coal seam gas front.
While most market watchers had their eyes on either iron ore, coal, nickel, gold or oil as the resources boom went into overdrive, not many had any inkling of the sleeping giant that is coal seam methane.
Even fewer Australians have ever shared Cottee's vision for coal seam gas.
For too long it was the scourge of the coal mining industry -- dangerous, difficult to extract and too cheap to on-sell.
But improved technologies and the world's increasing appetite for cleaner energy sources has changed the market's perception of coal seam gas as a viable energy alternative.
So too has the steep rise in the share price of QGC, which has jumped 2000 per cent since Cottee took the reins of the company back in October 2002.
Earlier this year, QGC had its watershed moment when it inked an $8 billion partnership with British-giant BG Group.
But it hasn't all been smooth sailing.
Queensland Gas has had to beat back a host of hostile predators, survive near-bankruptcy and even allegations that its finance head had been caught up in insider trading of QGC shares.
Shareholders owe a lot of the current good fortune to the unique skills of Cottee, who revels in the title of "reformed lawyer".
"We've forged our way through debt, scepticism, operational setbacks and Machiavellian market plays," he said. "We've grown from a 20c minnow to Queensland's third-largest company. We've done this without a cent of government money."
Cottee can laugh when remembering his return to Australia, jobless, in 2002, after the collapse of US energy firm NRG due to the Enron crisis. He had headed NRG's European operations from London.
He likened his trip home to that of a "convict" being sent to the colonies.
With six children to feed and QGC seemingly on life-support, few would have forgiven him had he blocked his ears to the pleas from company chairman Bob Bryan to join the company. Bryan hunted him down and signed him to the job in the one afternoon.
Six year's later, his personal stake in QGC has grown to $31 million.
That's a relatively small sum when you consider the hundreds of millions and even billions others have made riding the resources boom.
However, few of the nouveau resources rich laugh as loud, or as often, as Cottee. At least not in public.

But there was nothing funny about the perilous state of the company when he first walked in the door in 2002.

Mired in a legal bunfight with its former partner Pangaea Oil and Gas, QGC could barely pay its bills.

In fact, Cottee had to raise equity just to pay staff.

"For two years the company had no future," he said.

"This was a sector I really believed in and I wanted to prove that I could grow a company.

"But I couldn't believe what I saw when I first looked at the company."

The spark came when BHP Billiton finally showed a modicum of interest in QGC's massive Surat Basin tenements.

Cottee had courted the Big Australian hoping to tap its technical brilliance to unlock the methane.

BHP walked away when QGC couldn't deliver economic flow rates, but not before both had devised a well completion technique that proved crucial to the company's survival.

But if Cottee thought things were finally getting on track, the lid was about to be lifted again when Pangaea said it too wanted out.

Its departure triggered a near auction for the company and its gas fields with a host of predators circling including the bigger sharks of Santos, Origin and AGL Energy.

Cottee knew QGC was vulnerable with its market capitalisation of $200 million.

Santos wanted the company for $600 million.

"We were not in production and coal seam gas was still on the nose," Cottee explains.

"We knew that whoever won Pangaea would just mop us up."

But what the bigger players didn't count on was Cottee's survival instincts. Instead of settling for an auction of the company, QGC confounded many by launching its own bid for Sydney Gas.

"Sometimes paranoia has its commercial value," he said. "At the time the market couldn't understand what these maverick upstarts QGC and Richard Cottee were up to.

"What it did do was buy us time. All the shiny-bums who were wanting to takeover QGC had carefully done their sums and drawn up their proposals. And what our bid for Sydney Gas did was send them straight back to their calculators and spreadsheets.

"By the time the dust had settled, QGC had slipped through the nets of two takeover bids and boosted its market capitalisation by $500 million.

"And we lost the bid for Sydney Gas.

"But for half a billion bucks, I'm willing to lose.

"Call me the Hanse Cronje of capitalism."

Next year, gas supplied by QGC will account for 20 per cent of the Queensland market. Its domestic gas sales are expected to double to 60 petajoules in 2009.

BG Group and QGC will be working hard at developing the Queensland Curtis LNG project which will see the construction of a 380 kilometre pipeline and eventually two gas production trains as part of plans to eventually export up to possibly 12 million tonnes of LNG every year for a minimum of 20 years.

By 2012-13, QGC wants to have a 7000 petajoules of 2P reserves. At the moment, QGC has more than 7000pj in the lesser category of 3P.

"More than the combined remaining reserves of the Cooper Basin and Bass Strait," Cottee said with a laugh.

The more QGC continues to grow, the more his phone will continue to pump out Jumpin' Jack Flash.

Just like on Wednesday when someone at BG Group called him at 6am, telling him to be upright and alert later in the morning when BG Group boss Frank Chapman would call.

"We thought it would either be Santos or Origin that BG was going for," he said..

"We thought BG may take out either one and may no longer need us.

"Again, sometimes paranoia pays off.

"I'm not disappointed it wasn't a bid for us.

"If we get taken out it has to be at the right price and in shareholders interest.

"But at the moment we're having too much fun," he said.

Thanks Tricha for that report. What a great visionary JK ( John Kopchef ) is. He had the vision and determination to go out and secure some very good CSG acreage at a time when some others didnt agree with him.

He also saw off a Board room stoush from minnows Smith and Odin and in the process managed to get Heavyweight QGC on the share registry and secure the former founding director of QGC Mr Denis Patten on the VPE Board. (I see those Odin guys refer to him as Mr Paton..see Odin's latest quarterley...lol ..at least they had the intelligence to buy into VPE but they sure could improve their spelling )

As I said ages ago there are big sharks circling and BG's coup in knocking off Woodside to supply the new Singapore LNG hub was a masterstroke. BG are a big player and VPE now have a very important link through to them via QGC.

Rest assured that some very big M/A's are coming up in this emerging CSG sector. I hated selling down most of my beloved NZO's but I just had to with what's coming up.This sector is going to make a lot of shareholders gasp with delight. I managed to get 6 million of these CSG babies (BOW, PES, RPM, VPE and VPEO ) at prices that will look stupid in a year's time.

As always DYOR. See you at the NZ National Convention .

[Corporate]

Bermuda,

Out of VPE, BOW and RPM which do you think has the best prospects? and why?

I'm still trying to understand the whole situation and where they all fit into the respective projects.

Thanks,

James

[bermuda]

Bermuda,

Out of VPE, BOW and RPM which do you think has the best prospects? and why?

I'm still trying to understand the whole situation and where they all fit into the respective projects.

Thanks,

James

James,
Please see my post no. 17 1st May on the ORG Takeover Bid thread and then read the latest presentations by VPE, RPM and BOW.

It is a bit like having children. I love them all equally.

And remember... QGC has gone from 40 cents to $5.33 within the last 3 years. And a lot of other CSG players have quadrupled.

And Quote of the year from Richard Cottee ( QGC MD ) who said this week

"Our Annual budget 3 years ago was $4 million. From now on we will be spending $1.5 million per day until 2012."

That one really tickled my fancy.

[Dr_Who]

.

It is a bit like having children. I love them all equally.



FReaking CLASSIC !

Bermuda, you are getting me so excited, I am gonna buy more shares next week. :) It you are right, we are all gonna be rich. If not, then it was all fun.

It strikes me as odd that alot politicians and business people still have not woken up to the Peak Oil reality. The world is still asleep as to the impact Peak Oil will have on our lives.

[Mysterybox]

It strikes me as odd that alot politicians and business people still have not woken up to the Peak Oil reality. The world is still asleep as to the impact Peak Oil will have on our lives.

The early birds are catchn the worms

[Oiler]

FReaking CLASSIC !

Bermuda, you are getting me so excited, I am gonna buy more shares next week. :) It you are right, we are all gonna be rich. If not, then it was all fun.

It strikes me as odd that alot politicians and business people still have not woken up to the Peak Oil reality. The world is still asleep as to the impact Peak Oil will have on our lives.

It doesnt strike me as odd that politicians havent woken up to Peak Oil.... I think it is all about saving your ass .... they cant handle the truth.

Can you imagine what would happen to the world economy if all of a sudden governments/economists/newspapers/brokers etc all agreed that we are "accepting a declining resource"
Sure ..the USD is not helping but I believe the real answer is "supply and demand" Supply outstripping demand.
The world is changing........the smart people will be buying oil stocks and looking to the alternative fuels.
Woodside Petroleum moving there emphasis to LNG. The gas industry may only be a temporary fix but hey lets all make money on the gas wave. :D

Oiler

[tricha]

It doesnt strike me as odd that politicians havent woken up to Peak Oil.... I think it is all about saving your ass .... they cant handle the truth.

Can you imagine what would happen to the world economy if all of a sudden governments/economists/newspapers/brokers etc all agreed that we are "accepting a declining resource"
Sure ..the USD is not helping but I believe the real answer is "supply and demand" Supply outstripping demand.
The world is changing........the smart people will be buying oil stocks and looking to the alternative fuels.
Woodside Petroleum moving there emphasis to LNG. The gas industry may only be a temporary fix but hey lets all make money on the gas wave. :D

Oiler

Well said Oiler, if you can't beat the Gas companies, then join them and go for a ride.:p




Joint Venture 45%: In June 2007, Bow Energy Limited has entered into a
coal seam gas joint venture on its existing ATP 593P permit and an adjoining
tenement owned by VPE. Bow and VPE have combined two permits in the
northwest Surat Basin and in partnership with Roma CBM Pty Ltd have
formed the Don Juan CSG. The JV is located immediately adjacent to
previously discovered CSG gas flows and about 25 km northwest of
Sunshine Gass Lacerta CSG field.

[bermuda]

Hi Oiler, Demand outstrips supply. Not supply outstrips demand.

Hi Tricha, yes BOW and VPE have a very exciting joint venture in Don Juan. If it gets certified then its worth $1.00 per share for BOW and 60 cents to VPE. In fact itis now worth more to BOW because BOW took over Roma's 10% ( Roma is not the same entity as RPM )

Aint it great that Arrow hold Bow and QGC hold VPE.

We are in for the Mother of all M and A.

Coal Seam Gas is really going to give Aussie a shake.

[airedale]

Hi Bermuda, Oiler, et al, Cockatoo Coal have had a decent run up lately,going from 20 cents to 90 cents approx in the last year.
They are located in the Surat Basin.
They have an open cut operation for export thermal coal, and have recently acquired 800 sq.kms of additional exploration tenements in the
"Highly prospective energy province of the Surat Basin". Quote from Cockatoo.
Don't know if they have plans for CSG, but worth watching anyway.

[Oiler]

Hi Oiler, Demand outstrips supply. Not supply outstrips demand..

Bermuda..good catch. I think it was a case of too much red wine ;)

Catch up with ya on the 17th at the National Convention :)

Oiler

[bermuda]

Bermuda..good catch. I think it was a case of too much red wine ;)

Catch up with ya on the 17th at the National Convention :)

Oiler

Just been researching the Chinese oil supply situation. They are forward thinkers and have some big and varied contracts. Good old USA had better pull their socks up.

Also had a look at the LNG tanker fleet. 245 tankers as at March 2007 with another 145 on order. That says it all. Gas prices are in for a huge lift.

VPE well poised in all this. See you on the 17th.

[STRAT]

Hi Bermuda,
VPE going hard today damn it :mad: I had a bid in at 16.5 last week and just missed out :(

Are we expecting news or is it just the Bermuda Marketing Campain taking hold? :D

[KentBrockman]

Hi Bermuda,
VPE going hard today damn it :mad: I had a bid in at 16.5 last week and just missed out :(

Are we expecting news or is it just the Bermuda Marketing Campain taking hold? :D

I think you may have to raise your bid a bit further, Strat, as Santos seems to have found oil at Cuisiner-1. :)

[Dr_Who]

Hey Kent, where did you get that info from? Do you have a link?

[KentBrockman]

Hey Kent, where did you get that info from? Do you have a link?

Check BOW announcement.

[Dr_Who]

Check BOW announcement.


My brokers site is 20 mins delay on announcements. What implications will it have on VPE?

[KentBrockman]

My brokers site is 20 mins delay on announcements. What implications will it have on VPE?

The directors of Bow Energy Ltd (Bow) are pleased to announce that Cuisinier-1, an
oil exploration well drilled in ATP 752P, has been cased and suspended as a future oil
producer. Good oil shows and the interpretation of wire line logs have indicated 6
metres of net oil pay within a good sandstone reservoir over the interval from 1,622 –
1,630 metres.
Cuisinier-1 is located approximately 6.2km west of the Santos operated Cook Oil Field
in southwest Queensland.
The potential new oil field discovery is the first well drilled under a staged farmin
agreement with Santos Ltd (Santos) and Avery Resources (Australia) Pty Ltd (Avery)
where Bow is fully carried on up to six additional oil exploration wells in the permit and
new 3D seismic acquisition. Bow retains a 15% working interest in ATP 752P on
completion of all stages of the farmin.
The next well planned for the farmin program in ATP 752P, Hudson-1, is scheduled for
drilling in late June 2008. Hudson -1 tests a structural oil prospect mapped on the
same trend of structural oil prospects where the Cuisinier-1 well is interpreted to have
made a new oil field discovery.

[bermuda]

Dont you just love it!!!!

1st well in the free carry and whammo. I knew Santos wanted back into this area.

And remember, this oil will generate the cash to fund the main event...Coal Seam Gas.

Will have to go and buy some oysters!! For all my mates after tennis tonite.

Well done Ron and JK.

[Dr_Who]

The directors of Bow Energy Ltd (Bow) are pleased to announce that Cuisinier-1, an
oil exploration well drilled in ATP 752P, has been cased and suspended as a future oil
producer. Good oil shows and the interpretation of wire line logs have indicated 6
metres of net oil pay within a good sandstone reservoir over the interval from 1,622 –
1,630 metres.
Cuisinier-1 is located approximately 6.2km west of the Santos operated Cook Oil Field
in southwest Queensland.
The potential new oil field discovery is the first well drilled under a staged farmin
agreement with Santos Ltd (Santos) and Avery Resources (Australia) Pty Ltd (Avery)
where Bow is fully carried on up to six additional oil exploration wells in the permit and
new 3D seismic acquisition. Bow retains a 15% working interest in ATP 752P on
completion of all stages of the farmin.
The next well planned for the farmin program in ATP 752P, Hudson-1, is scheduled for
drilling in late June 2008. Hudson -1 tests a structural oil prospect mapped on the
same trend of structural oil prospects where the Cuisinier-1 well is interpreted to have
made a new oil field discovery.

Pardon my ignorance. What % does VPE have in this project?

[Mysterybox]

Pardon my ignorance. What % does VPE have in this project?

15% I believe

[STRAT]

15&#37; I believe15% is correct

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00839631

[Dr_Who]

Had time to digest the info after a few beers. This is indeed very good news. :) Surprise the sp didnt go up much on announcement. Maybe opportunity to accummulate more shares. :)

[Oiler]

Had time to digest the info after a few beers. This is indeed very good news. :) Surprise the sp didnt go up much on announcement. Maybe opportunity to accummulate more shares. :)

Good DR.... just this time I have to agree with you. ;)
An opportunity to accumulate? YES accept the past history and look forward. VPE look like a mirror image of NZO and so many other exploration companies. I am in.... for what its worth?? :D

Oiler

[upside_umop]

So am I Oiler. Got a few options a couple of weeks ago..

They were targeting 4million barrels with cuisinier..so around 600k attributable to Vicpet.

I've been trying to find out similar flow rates from other parts of the cooper basin..but no luck as its small fry to list for Santos.

Oiler, any idea what sort of BOPD they will be targeting? Will be relatively low i guess..

Don Juan looks exciting..although the long cert isnt! Patience...
200 PJ is pretty large target for wee vicpet and bow...around 35 million boe i think..if that comes through..wow.

[STRAT]

I think you may have to raise your bid a bit further, Strat, as Santos seems to have found oil at Cuisiner-1. :)Mate its starting to feel like Im not ment to have em. Raised my bid to 20c this arvo. It closed at 20c and I still dipped out:(

[bermuda]

Mate its starting to feel like Im not ment to have em. Raised my bid to 20c this arvo. It closed at 20c and I still dipped out:(


Get in deep tomorrow and when it gets to 40 cents we will have a beer. I will fly over.

[Dr_Who]

Hey Bermuda, whats this national conference thingee you guys are on about?

[bermuda]

So am I Oiler. Got a few options a couple of weeks ago..

They were targeting 4million barrels with cuisinier..so around 600k attributable to Vicpet.

I've been trying to find out similar flow rates from other parts of the cooper basin..but no luck as its small fry to list for Santos.

Oiler, any idea what sort of BOPD they will be targeting? Will be relatively low i guess..

Don Juan looks exciting..although the long cert isnt! Patience...
200 PJ is pretty large target for wee vicpet and bow...around 35 million boe i think..if that comes through..wow.

Probably will be in the 200-500 bbls a day but that is only an educated guess.

Dr Who,
The National Convention is a meeting of Sharetrader posters. See the NZ file. Next meeting at my place May 17th. You are welcome.Shrewd Crude is bringing a barrel of TUI.

[STRAT]

Get in deep tomorrow and when it gets to 40 cents we will have a beer. I will fly over.Fly over? as in over the Cook Strait?:D

Am planning to come down to one of the National Convention gatherings this year but not the next one unfortunately. If Serpie and Shrewdy are a yard stick for Mainlanders then Im sure you will be a great bunch to have a drink or 3+ with.

[Dr_Who]

ODN looks under-valued big time. According to my numbers, ODN's VPE holding (18.4&#37;) alone should be worth 17 cps.

If that is ANZ selling, they should be finished soon.

Have I got these numbers right?

[STRAT]

ODN looks under-valued big time. According to my numbers, ODN's VPE holding (18.4&#37;) alone should be worth 17 cps.

If that is ANZ selling, they should be finished soon.

Have I got these numbers right?Hi Doc,
If ODN has a holding in VPE then the value of VPE has an impact on the value of ODN. Not the other way around. Did I read your post right?
By the way coughed up 20.5 to buy in this morning at open.

[Dr_Who]

Strat. I mean ODN should be worth over 17 cps, currently trading at 7.8 cents due to ANZ selling.

disc: bought some ODN today :-)

[Financially dependant]

Hi Doc,
If ODN has a holding in VPE then the value of VPE has an impact on the value of ODN. Not the other way around. Did I read your post right?
By the way coughed up 20.5 to buy in this morning at open.

20.5 is a good price, they should have a higher SP then BOW which is currently 33c!

[STRAT]

Strat. I mean ODN should be worth over 17 cps, currently trading at 7.8 cents due to ANZ selling.

disc: bought some ODN today :-)That makes sense Doc. I decided you ment the other because we are on the VPE thread.:D

Good call by the way

[STRAT]

20.5 is a good price, they should have a higher SP then BOW which is currently 33c!Hi FD,
Not sure I agree that VPE should be worth more than BOW but at current SP the market cap is larger anyway

[Financially dependant]

Hi FD,
Not sure I agree that VPE should be worth more than BOW but at current SP the market cap is larger anyway

Hi STRAT,

I robbed this off HC, from a writer I respect.

Can someone please clarify what portion of cuisiniere VPE is entilted to. I only hold BOW and am very curious as to why VPE did not move today.

Very strange action indeed. If one does a market cap comparison between the two (BOW's market cap is 45 million, VPE's 56 million) and then look at the asset and net cashflow, there is a clear disconnect between the two of them - either BOW is over-valued or VPE is undervalued, or both.

I am not sure about Bow's valuation but based on my numbers, VPE is clearly undervalued (but most regulars here know that already).

Cuisinier-1 is a great result. Pity we had to farm down so much of our equity position, but at the end of the day, they had to protect our capital somehow. As someone said (on the Bow board I think), 15% of xMBO is better than 50% of nothing :o)

With 3-4 wells to be drilled in the Western fairway adjacent to Growler, I like their prospects going fwd :o)

618

[STRAT]

Hi FD,
I trade TA mostly and while I do look at the fundimentals on everything I buy Im by no means in a position to give any kind of qualified opinion on either. Bermuda would be the best person on this thread to ask for an opinion on that post.

I will say though that when BOW finnishes running I would expect a retrace as the day traders are hot on it right now and will be looking to exit at some point. BOW got away from me and I missed out as my bids were set to catch a dip which never came. RPM is running again. I do also expect all three to equalize in terms of their respective values at some point to some degree.

[Dr_Who]

I think ANZ has finished selling their Opes holding in ODN. Assuming that's them selling. Sp gone up 14% today to 9 cents. According to my numbers their 18.4% VPE holding alone is worth 17 cps. So I would assume ODN is worth around 20+ cents? I dont know how to value ODN's other drills/reserves.

Alot of turnovers these few days.

Any views on ODN?

[Corporate]

I think ANZ has finished selling their Opes holding in ODN. Assuming that's them selling. Sp gone up 14% today to 9 cents. According to my numbers their 18.4% VPE holding alone is worth 17 cps. So I would assume ODN is worth around 20+ cents? I dont know how to value ODN's other drills/reserves.

Alot of turnovers these few days.

Any views on ODN?

Dr Who, where did you get the 18.4% from I thought it was something like 17%?
ODN seems very undervalued when you look at there vpe holding. I don't no anything else about ODN.

WIll have a look now

[Corporate]

Does anyone know the ODN story? How did the afford VPE?

[Dr_Who]

Dr Who, where did you get the 18.4&#37; from I thought it was something like 17%?
ODN seems very undervalued when you look at there vpe holding. I don't no anything else about ODN.

WIll have a look now


Quarterly Activities Report March 2008

Odin Energy Limited is pleased to present its report for the quarter ended 31 March 2008.
Highlights

Corporate
• Odin Energy continued acquiring fully paid ordinary shares in Victoria Petroleum NL during the quarter and at the date of this report had acquired 18.4% of the company. Two Odin Energy representatives, Mr Alex Bajada and Mr Anthony Short, have been appointed to the Board of Victoria Petroleum; which currently consists of a total of five directors.
• The Board of Odin Energy continues its evaluation of further targets in the Cooper Basin, in line with its objectives of consolidation of assets and companies in the region.


I now have exposure to CSG throu VPE and ODN.

[AMR]

I might follow you into ODN Dr...you better be right or else I'll lock you in a room of angry blue chip zombie investors and tell them you are a blue chip director:D:D

Seriously though, ODN chart looks like something is brewing...large jump in OBV, big volume the last couple of days.

[tobo]

Strat. I mean ODN should be worth over 17 cps, currently trading at 7.8 cents due to ANZ selling.

disc: bought some ODN today :-)

ODN has 18.4% of VPE.
Say current mkt cap of VPE = A$52m (@20.5c)
ODN have 18.4% = $9.6m of mkt cap.
There are 108m ODN shares, so $9.6m/108m = 9c per ODN share.
In other words, 9c of the ODN sp is the VPE part.

Today's ODN's close is...well...9c
So everything else of ODN's comes free, or, in other words, that's a cheaper way to get into VPE right now.

Guys, what am I missing?

ToBo (bought VPE on monday:p, already hold a little BOW:D)

[bermuda]

I might follow you into ODN Dr...you better be right or else I'll lock you in a room of angry blue chip zombie investors and tell them you are a blue chip director:D:D

Seriously though, ODN chart looks like something is brewing...large jump in OBV, big volume the last couple of days.

Of course there has been a big jump in Odin.

They have 18% of VPE which not only has got due recognition for its wonderful CSG acreage ( through the BG announcent...a huge story ) but also has found a good 6 metre oil bearing sandstone in its very first drill of a 7 well free carry program with Santos.

[Corporate]

ODN has 18.4% of VPE.
Say current mkt cap of VPE = A$52m (@20.5c)
ODN have 18.4% = $9.6m of mkt cap.
There are 108m ODN shares, so $9.6m/108m = 9c per ODN share.
In other words, 9c of the ODN sp is the VPE part.

Today's ODN's close is...well...9c
So everything else of ODN's comes free, or, in other words, that's a cheaper way to get into VPE right now.

Guys, what am I missing?

ToBo (bought VPE on monday:p, already hold a little BOW:D)

Before direct broking died tonight I thought I saw ODN number of shares as 61 million?

[STRAT]

ODN has 18.4&#37; of VPE.
Say current mkt cap of VPE = A$52m (@20.5c)
ODN have 18.4% = $9.6m of mkt cap.
There are 108m ODN shares, so $9.6m/108m = 9c per ODN share.
In other words, 9c of the ODN sp is the VPE part.

Today's ODN's close is...well...9c
So everything else of ODN's comes free, or, in other words, that's a cheaper way to get into VPE right now.

Guys, what am I missing?

ToBo (bought VPE on monday:p, already hold a little BOW:D)Hi Tobo,
maybe a couple of things. As a rule I have found the Market discounts the value of holdings a company may have in another. There are lots of examples out there. No company can survive on its holdings in another company and if it has to let them go its sometimes in a hurry which brings their value down if they go on the Market in a big lump and in a hurry. Look at what Opus has done to the SP of many companies. The other thing is and I dont know but the rest of the company may only be worth a few cents so investigation is required. An example is MPJ. A company which does bugger all. Its NTA are way above the current SP but this doesnt mean the SP is guaranteed to follow the SP of its holdings.

[Dr_Who]

Hey Tobo where did you get ODN shares at 108m? I did my numbers based on ODN having 61m shares. Trying to get info is like looking for a needle in a haystack sometimes. Can someone confirm the ODN shareholding please so I can get the numbers right?

VPE has 278m shares @ 21 cents = $58.38m
ODN owns 18.4&#37; of VPE = $10.75m
There are 61m ODN shares on issue => $10.75/61m = 17.6 cps
ODN also has $1m in cash and Spinel Block drilling in Cooper Basin (I dont know how to put a value on Spinel)

ODN's VPE holdings alone is worth 17.6 cps

[upside_umop]

I too had a look at ODN after Doc mentioned it.

Your figures are right for CPS. 17.6 cents worth of VPE.

Im just wondering why this share is so low...

I read the Odin half annual report, and it seems they are only really interest in VPE.

They were only listed on the 12th of september 2007 raising 12 million.
Have since spent most of that money on VPE and have got one permit with 25% and taking 50% cost...pretty standard.
They have only got $1m in cash however, which leaves me wondering when they will be raising more coin. Debt or more shares? A bit of a kick in the guts for those who paid up on IPO.

Anybody read the prospectus?
Seems to me ODN just want an easy way in...

Doesnt mean I wont be looking more and potentially buying...
This share will rocket more than VPE will if there is M&A involving VPE...

[Dr_Who]

Doesnt This share will rocket more than VPE will if there is M&A involving VPE...

I hope I got my numbers right. The amount of buying these few days maybe a sign that my numbers are right and it is cheap or something is up with ODN.

I feel it makes sense for someone to take out ODN to have control of VPE or VPE/ODN merge. I also wonder how valuable is Spinel? Maybe Bermuda can answer that.

ANZ has been selling down their Opes holdings over 7&#37;. I think they have finished selling as of yesterday. The more important ques is, who is buying so many shares?

[bermuda]

I hope I got my numbers right. The amount of buying these few days maybe a sign that my numbers are right and it is cheap or something is up with ODN.

I feel it makes sense for someone to take out ODN to have control of VPE or VPE/ODN merge. I also wonder how valuable is Spinel? Maybe Bermuda can answer that.

ANZ has been selling down their Opes holdings over 7%. I think they have finished selling as of yesterday. The more important ques is, who is buying so many shares?


VPE and Odin wont be merging that's for sure. QGC must surely increase their shareholding at some stage to just under 20%. But they cant go over 20% without a takeover notice so they could only swallow up about 12% or so of the Odin 18% holding. I think the 6% balance could be bought out and Odin can get on back to being Odin.

If QGC dont make a bid then perhaps Petronet ( India ) might buy the Odin share at plus 40% etc.

Plenty of good stuff coming up. All conjecture but there are a lot of BIG fish looking to secure CSG/LNG from Queensland. British Gas has just educated everyone. Thank goodness we all got in before the rest got to know how good this is going to be.

Oil goes higher...and by association so does LNG.

[metal mickey]

this from the ODIN website


capital structure

The capital structure of the company is:
Issued Shares
107,773,005
Issued Options exercisable @ $0.25 before 31 March 2012 1,000,000
Issued Options exercisable @ $0.50 before 31 March 2012 1,000,000

10,500 Convertible Preference Shares will each automatically convert into 1,000 ordinary fully paid shares on the completion of the following events-

1. completion of the first well,
2. achieving proven reserves of 2 Bcfe attributable to the company,
3. achieving proven reserves of 4 Bcfe attributable to the company.

however DB site does have the 61,000,000. id say the company website is right, what say you savages?

[metal mickey]

107,000,000 issued securities, 61,000,000 number quoted in latest quarterly. dont really know what the definitions are but that makes Tobos figures right. right?

[Corporate]

surely we must be able to get a set figure as 61m and 108m given ODN a very difference value per share in terms of VPE

[Dr_Who]

Action in the VPE front. Have a look at the depth! 1 millions shares bid and ask.

[upside_umop]

i was more thinking of m&a with respect to VPE being taken over by a bigger player.
that would then reflect directly to ODN as that shareholding would turn into cash and the nta would be almost all cash.

[Rif-Raf]

There are a total of 107m shares, however only 60m are listed. The balance are restricted/unquoted and were held prior to the float. The restrictions will come off in due course next year I think.
There are also 105m 2012 oppies @ 25c and a further 2m oppies at 25c& 50c
So there is a fair bit of dilution of the upside.
They committed a futher $4.76m in seimology studies to the Spinal prospect so if you value that at cost then you have in cps terms:
VPE 9.25c
Spinal 4.4
Cash 1.5
Total 14.5c of net assets

In summary you you guys are onto it i.e buy VPE through ODN and free carry the spinal prospect, but don't ignore the dilutory effect.
Agree with umop the cash of 1m is a little on light side.
What is the calibre of the people behind it?

[Dr_Who]

What is the calibre of the people behind it?

I have just written to ODN to clarify their share structure.

Bermuda seems to think the people behind ODN have credibility. Also the fact VPE gave them 2 directors seat tells me the management team in ODN is not too shabby.

If they strike oil or gas, I dont mind being diluted at all.

Anyone know how good the Spinel prospect is?

[Crypto Crude]

Anyone know how good the Spinel prospect is?

Spine tingling...
....
...
..
.
Odin have serious cash problems...
:cool:
.^sc

[Mysterybox]

DONGA-4 SWAB TEST RESULTS, ATP 805P, SURAT BASIN, QUEENSLAND
Victoria Petroleum NL has been advised by Bow Energy Ltd (BOW) that a completion and swab test
carried out on Donga-4, located in Surat Basin permit ATP 805P, this week recovered 27.5 barrels of
fluid interpreted as mostly completion and drilling fluid with no hydrocarbons. This is despite a small
recovery of oil from a test when the well was initially drilled in late 2006. The well has been suspended
and the completion rig was released late yesterday afternoon.
Samples were taken of the recovered swab fluid which will be analysed to determine if formation water is
present. In addition, the well will be monitored over the next few months for fluid build up and presence of
hydrocarbons.
The results suggest the reservoir is tight or compartmentalised and will unlikely flow at commercial rates
on its own. Pending results of the fluid analysis and the monitoring of the well, Bow may consider
reservoir stimulation options in the future.
Participants in ATP 805P are:
Bow Energy Ltd (Operator) 85%
Victoria Petroleum NL 15%
Yours faithfully
JOHN KOPCHEFF
MANAGING DIRECTOR
VICTORIA PETROLEUM N.L.
Information of this report was completed by the Managing Director of Victoria Petroleum N.L, J T Kopcheff BSc
(Hons Eco.Geol), FAIMM, MAAPG, MSPE, MPESA, with over 30 years experience in petroleum geology and
geophysics.


Has this announcement gone un-noticed? I've only read a little into the stimulation options (such as with acid) but am unsure how to interpret this, it doesn't sound good.

Discuss

[STRAT]

Has this announcement gone un-noticed? I've only read a little into the stimulation options (such as with acid) but am unsure how to interpret this, it doesn't sound good.

DiscussA setback for VPE but minor in the greater scheme of things. A bigger setback for BOW it clearly had a small impact on the BOW SP but as VPE is not running ( yet :D ) there was no obvious sign of any real impact.

[Dr_Who]

Only very minor setback. The sp is holding up well and closed at a good price. :)

[temptation]

I know the VPEO expiry date is 31/1/2010, but can you tell me what is the exercise price?

[Crypto Crude]

exercise price is 25cents...
:cool:
.^sc

[Mysterybox]

12 May 2008
Company Announcements
ASX Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
Freshwater Point 1 Exploration Well Commences drilling,
Onshore Perth Basin, EP 413, Western Australia
Victoria Petroleum N.L. has been advised by the operator, Origin Energy, that drilling of the Freshwater
Point 1 exploration well, commenced on Sunday, 11 May, using the Ensign 48 drilling rig.
Freshwater Point 1
Well type: Exploration (onshore; vertical)
Location: Perth Basin, Western Australia (EP 413)
The Freshwater Point 1 surface location is 34.5 kilometres south-southeast of
the township of Dongara, 25 kilometres south of the Jingemia oil plant, and 17.5
kilometres southwest of the Beharra Springs gas plant.
Surface co-ordinates for the Freshwater Point 1 drilling location are as follows:
Latitude: 29º 33’ 34.09” S
Longitude: 114º 59’ 56.84” E
Interests: Victoria Petroleum NL 5.000%
Origin Energy Developments Pty Ltd* (Operator) 49.189%
ARC Energy Ltd 44.141%
Norwest Energy NL 1.278%
Roc Oil (WA) Pty Ltd** 0.250%
J.K. Geary 0.142%
* A wholly owned subsidiary of Origin Energy Limited
** A wholly owned subsidiary of Roc Oil Company Limited
Objectives: Primary target: High Cliff Sandstone (Early Permian).
Secondary targets: Intraformational sandstones of the Early Permian Irwin
River Coal Measures and Holmwood Shale.
Planned total depth: 1,761 metres measured depth in Precambrian basement.
Expected duration: Total anticipated time to drill the well is 10 days.
Progress and status: Freshwater Point 1 spudded at 01:00 hours WST on 11 May 2008, using Ensign
Drilling Rig 48.
311 millimetre (12¼ inch) hole was drilled to 414 metres measured depth.
Operation at 06:00 hours WST today was preparing to set surface casing.
VICTORIA PETROLEUM N.L. A.B.N 50 008 942 827
Incorporated in Western Australia
2
Commenting on the commencement of drilling of the exploration well, Freshwater Point-1, Victoria
Petroleum managing director John Kopcheff said:
“Freshwater Point-1 is testing a seismically defined prospect with the potential to contain a mean
recoverable resource of 9 billion cubic feet of gas or 6.1 million barrels of oil, up to a P10 of 19 billion
cubic feet of gas or 13 million barrels of oil in the High Cliff Sandstone, should oil or gas be present.
While the well is an exploration well with attendant risk, the target sandstone is oil productive in the
offshore Cliff Head Oil Field, some 16 kms to the northwest of the Freshwater Point Prospect.”

Announcement as at 12.05.08

[Dr_Who]

I have a funny feeling that QGC may want more than just 7% of VPE. Any thoughts?

[Financially dependant]

QGC seem to have good control of VPE as it stands, they were the "White knight" when ODN & ITC were trying a take over move.. but VPE are cheap so why not accumulate?

[Dr_Who]

QGC seem to have good control of VPE as it stands, they were the "White knight" when ODN & ITC were trying a take over move.. but VPE are cheap so why not accumulate?

So now ODN is a potential T/O target with over 18% in VPE?

[AMR]

I am now a VPEO holder. Those options just look to good to ignore in terms of risk-reward, I've decided to take a trade somewhat outside my normal technical systems for once.

[Dr_Who]

Good luck AMR.

I dont have large enough balls to play options and will stick with head shares.

[Dr_Who]

ODN chart is looking good. :)

[bermuda]

I have a funny feeling that QGC may want more than just 7% of VPE. Any thoughts?

Dr Who,

Of course QGC will be in for a bigger share. QGC need VPE's CSG. And so does British Gas.

[Corporate]

Surely someone must be looking to take over ODN?

ODN Market Cap is only $5.5million their $18% holding in VPE is worth $10.8million at VPE's current Macket Cap of $60million.

If anyone wanted a piece of VPE for bargin prices, surely they would be looking at ODN?

Thoughts?

[Dr_Who]

Surely someone must be looking to take over ODN?

ODN Market Cap is only $5.5million their $18% holding in VPE is worth $10.8million at VPE's current Macket Cap of $60million.

If anyone wanted a piece of VPE for bargin prices, surely they would be looking at ODN?

Thoughts?

I am ahead of you on this one. :)

Go back a few posts and you have some of my and others numbers on ODN. I got some ODN below 8 cents. This is indeed a potential T/O target.

ODN's shareholding gets abit complicated. They have 61 million shares issued, but also have 47 m unlisted convertible pref shares that gets converted to ordinary shares once on the completion of the conditions.

1. completion of the first well,
2. achieving proven reserves of 2 Bcfe attributable to the company,
3. achieving proven reserves of 4 Bcfe attributable to the company.

I assume one can T/O ODN and not complete the drilling and not exercise the pref shares, thus only paying for the 61 m listed shares.

[zorba]

Odin paid $4.6m for Spinel project seismic, now have $1m cash left, but still have to find 50% of cost of drilling 4 Spinel wells ...... where to get cash ?

Sell chunk of its VPE holding = downward pressure on VPE share price ??

[Dr_Who]

Odin paid $4.6m for Spinel project seismic, now have $1m cash left, but still have to find 50&#37; of cost of drilling 4 Spinel wells ...... where to get cash ?

Sell chunk of its VPE holding = downward pressure on VPE share price ??

They only recently bought the VPE shares and knows the true value of VPE. I dont think they will sell VPE at these levels. In fact, if you have a look at their announcements, they have been accumulating stock for the latst year or so.

If they do sell VPE it will be to one buyer and at a premium.

The alternative to financing the Spinel project can be to go into JV with another oiler.

[Financially dependant]

Bought VPEO today, taking a walk on the wild side (for me).

Hopefully keep building in the CSG sector, I have a few head shares but like the idea of leveraging up on some options.

Airedale's VPE graph on Saturday was the last straw.

[bermuda]

Bought VPEO today, taking a walk on the wild side (for me).

Hopefully keep building in the CSG sector, I have a few head shares but like the idea of leveraging up on some options.

Airedale's VPE graph on Saturday was the last straw.

If there are any of you guys wanting to understand why unconventional gas (CSG ) is going to be in high demand then have a look at the Natural Gas article on www.energybulletin.net particularly the graph which shows the huge surge in LNG imports into the USA.

The fundamentals are there and demand is growing for Queensland CSG. More and more large fish are circling.Watch out for some big Indian offers later this year.

[Mysterybox]

19 May 2008
Company Announcements
ASX Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
STATUS REPORT FOR GROWLER OILFIELD DEVELOPMENT PROJECT
AND PEL 104, COOPER BASIN SOUTH AUSTRALIA

Victoria Petroleum N.L. (“Vicpet”) as operator for the Growler Oilfield Development Project is pleased to
advise the following progress on the Growler Oil Field;

1. Continuing load out of oil from the Growler Oil Field to Moomba by tanker and then on down the
Moomba-Port Bonython oil pipeline for sale. The sale of this oil and continuing oil production, will take
place against a background of satisfyingly high oil prices in excess of US$120/barrel. This continuing oil
production is significant as this is the first oil produced from PEL 104 located on the north western margin
of the Cooper-Eromanga Basin

2. Completion of the first phase of the Growler Oil Field production central facilities infrastructure, which
involved the construction of a 22 kilometre production road, construction of central gathering facilities,
plus the tie in of Growler-1 & 2 wells to the central facilities.

3. The installation of pumps on both Growler wells, with the pumps put into operation and the beginning
of the Extended Production Test (ETP) to gain knowledge of the wells’ output.
The EPT commenced on 13th March 2008 and will run for 180 days. The JV will gain reservoir data from
the EPT to enable the JV to proceed to a full overall Growler Development Plan. Initial analysis of the
Growler wells performance will be available after 100 days.
The benefit from the EPT is not only the knowledge gained about the reservoir extent and deliverability,
but also the side benefit of cash flow.
Growler Extended Production Test (EPT)
The Growler Field is currently producing an average of 200 - 210 barrels of oil per day. The Growler Oil
Field has produced over 11,000 barrels of oil since production commenced on the 13th of March 2008.





Vicpet as Operator for the Growler Oil Field, intends to step rate increases in production once it is
satisfied with the production against the drawdown levels of the wells, in keeping with good oil field
production practice. Initial pump problems at Growler-1 are in the process of being remedied. The pumps
at Growler, if production results justify, can pump at a cumulative rate of up to 365 bopd.
On completion of the EPT, Impress under the JV Technical Services Agreement will, in consultation with
the operator, recommend to the PEL 104 JV a Growler Development Plan. Impress have advised of their
intention of recommending the drilling of at least one development well, (Growler-3) prior to the end of the
year and the acquisition of 3D seismic over the Growler oil Field in the second quarter 2009. These
recommendations are subject to Joint Venture approval.
The aim of the Joint Venture is to have sufficient wells in the Growler Oil Field to achieve production
levels of up to 750 – 1,000 barrels of oil per day. Production at these rates, without horizontal drilling,
would require up to 10 additional vertical wells to be drilled in the field, subject to joint venture approval.
Information from the JV external consultants indicate the Growler Oilfield on its own, at a confidence level
of P50, contains 7.7 million barrels of oil in place, with an expected recovery of 1.6 million barrels.





























Future PEL 104 Exploration Drilling Activity
The PEL 104 Joint Venture is tendering for a drilling rig to drill three exploration wells in PEL 104 in
accordance with the permit drilling commitment; with the option to drill a further two wells including
Growler-3. The PEL 104 exploration wells named, Tigershark-1, Tigercat-1 and Meteor-1 will test
significant prospects close to the Growler Field. Drilling is planned to commence in the third quarter of
2008, subject to the necessary regulatory approvals.
The Growler Oil Field will serve as a central production facility for future production from the Wirraway Oil
Field and in the event of exploration success, any oil discovered in the exploration prospects to be drilled
in PEL 104 and the Warhawk Prospect to the north, when drilled.
Interests in the PEL 104 JV are:
Victoria Petroleum NL (Operator) 40%
Impress Energy Limited 40%
Roma Petroleum NL 20%
The Growler Oil Field and PEL 104 is an important part of the Cooper Basin Western Margin Jurassic Oil
Project and Vicpet’s strategic position in the Cooper Basin of South Australia and Queensland.
JOHN KOPCHEFF
MANAGING DIRECTOR
VICTORIA PETROLEUM N.L.
Information of this report was completed by the Managing Director of Victoria Petroleum N.L, J T
Kopcheff BSc (Hons Eco.Geol), FAIMM, MAAPG, MSPE, MPESA, with over 35 years experience in
petroleum geology and geophysics.
For information on Victoria Petroleum N. L. drilling activities visit our website at www.vicpet.com.au


Announcement around 9pm NZ time.

[Dr_Who]

Very nice announcement :).. love the $120 price for oil :)

[Rif-Raf]

Surely someone must be looking to take over ODN?

ODN Market Cap is only $5.5million their $18% holding in VPE is worth $10.8million at VPE's current Macket Cap of $60million.

If anyone wanted a piece of VPE for bargin prices, surely they would be looking at ODN?

Thoughts?
Agree, it's not totally straight forward due to the unlisted shares however at VPE price of 21.5 is worth 10.1 cps to ODN compared with todays price, so the remaining cash and interest in the Spinel prospect is free carried.

[Dr_Who]

If ODN hit gas with Spinel the sp will sky rocket. If not then it will track VPE and benefit from VPE's drilling. All good when you buy below value. :)

[bermuda]

Good luck AMR.

I dont have large enough balls to play options and will stick with head shares.

It is time you fronted up to your beliefs Dr Who.

The options dont expire until Jan 2010. You know VPE will be over $1.00 by then.

Do Your Own Research but having seen the odds, dont hold back, go for them.

[bermuda]

VPE will be over $1 by then

WOW

thats some bullish call, 400% increase

so I guess you got the house in it Bermuda, oh how things have changed in 3 weeks

I take it with a grqain of salt because Ive been around, but those comments are rampant ramping. IMO

Sorry ,
You are probably right.
But all I do is research all day and study these things...and the money I make is going to charity.

Ps Got the sharetrader porch (house ) on it.

Have a look at the QGC file then BG then Petronex then LNG then Gladstone then etc etc etc . DYOR.

[bermuda]

oh, so that confirms alternative energy is the "new" DOT. COM, LOL


BEWARE, and trade accordingly STers, ST = SHORT TERM;)

This is a journey.

[bermuda]

yup, just like U and tulips


next train traders:D, I suggest this is more to do with greed than charity but I love to spoil the party

underDOG,
I am disappointed in that remark.

[Dr_Who]

VPE will be over $1 by then

WOW

thats some bullish call, 400&#37; increase

so I guess you got the house in it Bermuda, oh how things have changed in 3 weeks

I take it with a grqain of salt because Ive been around, but those comments are rampant ramping. IMO

I think Bermuda is just abit over excited on his investment. It is not intentional ramping, only unconsciences ramping .. LOL.

I recall QGC was only 50 cents a couple of years back and now T/O price of way over $6.00 from BG. Also great to have QGC buying into VPE, they know the CSG area cooper basin very well.

[AMR]

I think the VPEOs are actually less risky than the heads simply due to the large time premium attributed to them. They will give far better gains if Don Juan is certified and at $1 a share....woah!

They're at a huge premium right now while the heads haven't moved at all lately.

[bermuda]

I think the VPEOs are actually less risky than the heads simply due to the large time premium attributed to them. They will give far better gains if Don Juan is certified and at $1 a share....woah!

They're at a huge premium right now while the heads haven't moved at all lately.

Exactly AMR, that is why I got into them...heavily.

[jdg]

i spent yesterday looking for a place to plant a few dollars. late last night i decided on VPE.

even though it seems to have tremendous potential, the significant negative sentiment surrounding management appears to have put blinkers on the market. there's great value here if JK and the team can surprise the doubters (buck history) and realise it.

certainly it appears to be worth a punt.

anyway, good luck to us. i look forward to following this thread and contributing when i can.

-j

[Dr_Who]

I may put some VPEO when the sp comes back down. :)

[airedale]

A dilemma: VPEO looks attractive: a sum of money is available: NZO options will need to be exercised:
Should I chase the flighty young VPEO, or consolidate my relationship with NZO?

[STRAT]

Mmmmm,

So its you lot pushin up the price today eh? lol.:D:mad::D

[Paddie]

A dilemma: VPEO looks attractive: a sum of money is available: NZO options will need to be exercised:
Should I chase the flighty young VPEO, or consolidate my relationship with NZO?



I am facing exactly the same dilema Airdale.

NZO is going gangbusters, and you would only expect it to continue, but I do like VPEO.

Paddie

[Dr_Who]

A dilemma: VPEO looks attractive: a sum of money is available: NZO options will need to be exercised:
Should I chase the flighty young VPEO, or consolidate my relationship with NZO?

Have you guys not heard of diversification to spread risk and returns?

[Paddie]

Have you guys not heard of diversification to spread risk and returns?


I hold RPM, VPE, BOW, AGS, RMG and MRX on the ASX so the answer is yes Dr Who!


Paddie

[Dr_Who]

VPE 23 cents !!!!

Looks like a large buyer out there looking for stock.

:)

Thos ODN is looking cheaper by the day.

[Financially dependant]

VPE 23 cents !!!!

Looks like a large buyer out there looking for stock.

:)

Thos ODN is looking cheaper by the day.

Yes 2 big bites on good volume.

[jdg]

freshwater began drilling on the 12th with an estimated drill time of 10 days. i wonder if somebody knows something... big buying this morning.

-j

[jdg]

in fact, freshwater began on the 11th - it's past due. either way, we will see an update today. fingers crossed.

-j

[Financially dependant]

in fact, freshwater began on the 11th - it's past due. either way, we will see an update today. fingers crossed.

-j

Currently
VPE up 14.3%
VPEO up 12.5%

something is in wind!

[trackers]

Currently
VPE up 14.3%
VPEO up 12.5%

something is in wind!

Yeah, I helped out that equation.... Have been trying to sell down NZO.asx for days to get into VPEO (since 7.8)...Finally got in, cost me 9 now, bugger.... :)

[Dr_Who]

Welcome on board. :)

We have a family of VPE holders on here... LOL. Something is up and brewing in the background. May get an announcement soon?

[shasta]

Welcome on board. :)

We have a family of VPE holders on here... LOL. Something is up and brewing in the background. May get an announcement soon?

SSN going great guns :eek:

[STRAT]

Some real interest in VPE today but someone is playing games with VPEO

[Mysterybox]

Something must be going on behind the scenes.. waiting on that announcement.

[bermuda]

Something must be going on behind the scenes.. waiting on that announcement.

JK is presenting at next week's Oil and Gas Conference in Sydney.

I think a lot of people are going to be surprised how good our connections to QGC and British Gas are.

VPE has more CSG permit area than BOW. Should be fun.

[STRAT]

What a day for VPE eh?

I bit the bullet today too Trackers and paid 9c for some VPEO

There is a late announcement out but a 5&#37; interest in an up coming drilling program is unlikely to be what all the excitement today was about.

New High for RPM too

[Mysterybox]

ANNOUNCEMENT OUT!

http://www.asx.com.au/asxpdf/20080522/pdf/31988t1tmbftgb.pdf
http://www.asx.com.au/asxpdf/20080522/pdf/31989d71g7z6hc.pdf
http://www.asx.com.au/asxpdf/20080522/pdf/31989l6ggl6kpr.pdf

[bermuda]

ANNOUNCEMENT OUT!

http://www.asx.com.au/asxpdf/20080522/pdf/31988t1tmbftgb.pdf
http://www.asx.com.au/asxpdf/20080522/pdf/31989d71g7z6hc.pdf
http://www.asx.com.au/asxpdf/20080522/pdf/31989l6ggl6kpr.pdf

Mysterybox,

As Strat said the excitement is about something else. As I have remarked several times before,

There are some seriously BIG FISH eyeing up this sector...and LNG continues to climb. But well spotted and thankyou for the info.

Of reasonable significance however, was the announcement by SSN of a huge gas discovery in the USA. Now VPE own 5.3% of SSN. JK is good eh? Hasnt put a foot wrong in my book. To the contrary, he has been exceptional.

But overall VPE has a lot of catching up to do.

[shasta]

SSN going great guns :eek:

Obviously my earlier post was too criptic

SSN (VPE own > 5%) was up nearly 72% today!

[bermuda]

Obviously my earlier post was too criptic

SSN (VPE own > 5%) was up nearly 72% today!

As you can see from my earlier post I have been following SSN all day. Must have been a very very good exceptional find. Good old JK.

[Financially dependant]

VPE options now in the money!

[KentBrockman]

As you can see from my earlier post I have been following SSN all day. Must have been a very very good exceptional find. Good old JK.


He's one amazing visionary! ;)

[Dr_Who]

BOOM! POW! WOW!

Any guess when it will hit 40 cents and if it will hit 40 cents?

With the capital gains from VPE I can afford to put gas in the 50cc scooter. LOL

[airedale]

Nice to see today's rise confirmed by good volume.

[STRAT]

VPE options now in the money!Not at 9c they aint;)

[bermuda]

He's one amazing visionary! ;)

Kent.

Good to see you are gradually starting to appreciate what I have been saying. Dont worry if he makes a mistake, I will be the first to let you know.

Cheers

[jdg]

no retrace and solid enough volume this morning. so far so good, but it feels a little anti-climactic after yesterday's fireworks. speeding ticket reveals nothing, just sentiment turning, perhaps.

-j

[jdg]

we should have a release about clearwater waiting for us before opening tomorrow. as many posters have pointed out, VPE only have a 5&#37; stake. notwithstanding that, a strike would be good for sentiment.

more than that, i'll be most interested to hear from bermuda regarding this week's oil and gas conference (thanks in advance, b).

-j

[Dr_Who]

VPE presentation is out!

A must read for all VPE holders and wannabe holders.

Makes me wanna buy more shares. Great presentation!

[jdg]

the o & g presentation appears to be a rehash with nothing new, as far as i can see. i actually don't like the look of it much. i find it rather unclear, repetitive, and amateurish (does anyone else feel that way?). i hope the oral presentation is a better. in saying that, the sp is lifting.

no news on clearwater this morning. i was surprised. originally td was expected to be hit last wednesday. then ORG reported on thursday that it would be hit in 2-3 days. let's hope no news is good news.

-j

[jdg]

sorry...i've been calling the freshwater drill 'clearwater' (a freudian slip exposing my desire to play golf at clearwater, perhaps).

[Dr_Who]

jdg, have a look at the CSG potential graph that compares valuation to other similar CSG stocks. If they strike CSG this could be the next QGC !!! QGC sp was only 50 cents a couple of years back and now BG T/O is over $6 !!!

[trackers]

jdg, have a look at the CSG potential graph that compares valuation to other similar CSG stocks. If they strike CSG this could be the next QGC !!! QGC sp was only 50 cents a couple of years back and now BG T/O is over $6 !!!

Yup, very telling... A bit miffed why we haven't heard anything about freshwater today... Nothing happening at ARQ or ORG either

[Mysterybox]

A bit miffed why we haven't heard anything about freshwater today...

Was wondering this also..

[jdg]

ann out. freshwater looks dry. not big bad news, but it would have been nice to come in.

-j

[Dr_Who]

VPE only has 5% of Freshwater. I didnt buy VPE because of Feshwater. Here is the result, still drilling I assume.

Progress and status:

Freshwater Point 1 commenced drilling on 11 May 2008 using
the Ensign 48 drilling rig. 311 millimetre (12¼ inch) hole was
drilled to 414 metres measured depth. 245 millimetre (9⅝
inch) surface casing was set at 412 metres measured depth.
Surface casing operations were completed and drillling
resumed on 21 May.

At 06:00 hours WST today, the activity was drilling ahead in
216 millimetre (8½ inch) hole at 1,158 metres measured
depth in the Kockatea Shale.
Progress since the 15 May report has been 744 metres.

[jdg]

i think you might be looking at an old ann. the latest says they have gone to td and are now wireline logging, but "No hydrocarbon shows were encountered in the primary of secondary target sandstones"

those more expert in the technical side of things may explain why one would undertake wireline logging if there were no hydrocarbon shows - be damned if i know.

but i agree with you, Dr Who, it was a 5&#37; stake. hardly a big loss.

-j

[Dr_Who]

Am I having delusions or do ODN look extremely cheap at 10 cents?

I have ODN nta @ 22 cents (VPE @ 29 cents) !!!
ODN's 18.4&#37; VPE holding alone is worth over 18.4 cents !!!

[trackers]

Great rise today, fresh high's... Blue sky :)

[fruitloop]

Do you think the rise is due to QGC announcing new pipeline and a new power station.

All looks very Good :-)

[STRAT]

Am I having delusions or do ODN look extremely cheap at 10 cents?

I have ODN nta @ 22 cents (VPE @ 29 cents) !!!
ODN's 18.4% VPE holding alone is worth over 18.4 cents !!!
No delusions Doc but its not a sure thing that the price will rise either

[AMR]

*Gives the options a kick up the backside*

Really, these oppies perform funny. They move when the shareprice doesn't, they don't move when the shareprice does...??

[Phaedrus]

Really, these oppies perform funny. They move when the shareprice doesn't, they don't move when the shareprice does...??

It sure feels that way sometimes, but if we look at their relative performance over time, we can see that they track each other reasonably well.

http://h1.ripway.com/Phaedrus/VPEo527.gif

[upside_umop]

yeah sometimes it does seem that way..but its just because of the illiquid nature of them and large buy/sell spreads that make it look that way on a day to day basis.

picked up some VPE yesterday @ 26.5 only small amount though. Not the best price of the day...but was expecting bigger things when i saw that announcement out.

i do agree the announcement did look rather cheap, but the potential CSG is impressive and will certainly create hype...

13100 VPE @ 26.5

58000 VPEO @ 6.1

VPEO @ 11-12 by friday?

[Dr_Who]

They are not investment bankers. They are miners so dont expect them to do a great presentation. As a shareholder I am only interested if they can deliver on the drilling and securing great oil/gas reserves.

[upside_umop]

Was BOW's presentation good? How about CUE?

Yes, VPE's was cheap in comparision...

[zorba]

.

Write up by Petroleum News on JK presentation on Vic Pet is pretty positive:

http://www.petroleumnews.net/storyview.asp?storyid=197960

.