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VPE - Victoria Petroleum

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VPE is in a trading halt this morning pending an announcement. There is nothing in the announcement to suggest the subject matter of the forthcoming announcement.
IMHO it could relate to either of 2 things:-
1. possible SPP for current holders following the recent CR or
2. VPE will sell its 20% interest in Impress given that BPT now holds 60% of Impress.

Just my thoughts, any views out there?
I am a holder.
 
VPE has announced that it will commence an aggressive drilling campaign in the Cooper Basin SA in Feb 2011. Six wells are planned - 3 development wells in the Growler Field and 3 exploration wells in PEL 104. Shares are back trading and steady at 41.5 cents.

Not sure why a trading halt was required for this announcement. It seems that companies often announce forward drilling plans without going into a trading halt. Maybe it it is a requirement of the newly released share trading policy?

Any way no doubt that VPE will be in for a very busy first 6 months of 2011 with drilling in the Cooper Basin SA for oil and gas and Surat Basin QLD for CSG.
Could be a company making year. I am a holder. :)
 
Does anyone know if any further significant announcements are expected from VPE this year. I thought that an announcement about the next stage of certification of the reserves in the coals seam gas fields was due.

Also, does anyone know when the name change is going to happen? Will the change make a difference to share price?

Is the new access to the Growler fields about to be built coming with a pipeline so that oil can be got out?

Anyone know?:confused:
 
FINAL OFFER FOR IMPRESS ENERGY BY BEACH ENERGY.
OIL and gas producer Beach Energy has declared its bid for Impress Energy final but extended the offer of 8.5c per share until February 21.
Beach Energy urged Impress shareholders to accept its final offer, made after the company gained majority control of Impress in December.

Beach says it holds a 65.25 per cent interest in Impress, at close of trade on Monday, and it was highly unlikely that a rival bid would emerge.

On December 6, Beach offered Impress shareholders 8.5 cents per share in the company, valuing Impress at $75.4 million.

The bid replaced an earlier proposal to merge the companies by way of a scheme of arrangement.

Beach said Impress shareholders should sell into the offer because the trading volume of Impress shares may fall once the offer closes, and remaining shareholders would likely have their shareholding diluted by future capital requirements.

VPE owns 20% of the shares in Impress Energy it seems to me that the Directors have no option but to sell to Beach Energy.
 
i just found name change on ASX so it must be the reason for suspension, should be trading again on Monday. ASX website new code SXY ;)
 

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