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VPE - Victoria Petroleum

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:)

Hi folks,

VPE is another long-established Aussie oiler,
with extensive interests in the Cooper Basin,
California and Texas, as well.

They have scheduled 14 wells over the next 6 months,
but from past esperience with VPE, if half of those are
actually drilled, it will be something of a miracle.

With almost 2 BILLION shares on issue, there
will almost certainly be a share consolidation soon,
which may provide for a cheap entry, if the share
price slides back, after the expected consolidation.

Their current well is on the Eagle prospect in
California and a well, located offshore Texas will
also be drilled, later in 2006 ... see updated
drilling scedule, in attached file, below ..... :)


happy days

yogi

:)
 

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yogi-in-oz said:
:)

They have scheduled 14 wells over the next 6 months,
but from past esperience with VPE, if half of those are
actually drilled, it will be something of a miracle.

With almost 2 BILLION shares on issue, there
will almost certainly be a share consolidation soon,
which may provide for a cheap entry, if the share
price slides back, after the expected consolidation.

:)
Click to expand...

Hi Yogi,
Thanks for the info on VPE.
As you suggesting that we may see the price of VPE shares go even lower than current levels with a "share consolidation"? At 2.5c they are pretty cheap considering for the last 12months they have been at or above 3c.
Are you speculating about this so-called expected consolidation or are you aware of some info that the wider market is not privvy to?
I currently hold VPE and would be VERY interested to know about credible info that might adversely affect the share price.
Please elaborate....
 
:)

Hi folks,

VPE ... DHJ has consistently said, there will be
NO consolidation during his watch ..... :)

..... but, with 2 billion shares on issue, any recovery
is going to be painfully slow for both traders and
investors, alike.

happy days

yogi

:)
 
Ok, Vic Pet has hit a new 12month low of 2.2c today(on high volume)
Has been trading in the 2.4-2.6c range for nearly 6 months now.
Before then it was tarding around 3c.

No announcement today.
Something in the pipeline perhaps or are people getting fed up with this company and moving onto better prospects?

For me, seems like a good punt at 2.2c.

Waddayareckon?
 
BraceFace said:
Ok, Vic Pet has hit a new 12month low of 2.2c today(on high volume)
Has been trading in the 2.4-2.6c range for nearly 6 months now.
Before then it was tarding around 3c.

No announcement today.
Something in the pipeline perhaps or are people getting fed up with this company and moving onto better prospects?

For me, seems like a good punt at 2.2c.

Waddayareckon?
Click to expand...
yesterday's news was bad enough : suspend primero. today's even worse : eagle north problems again. plus a week or so ago banff was a duster. you wonder when the lucky days will return for this oiler. heaps of protential just the stars are not quite aligned at the moment - or the technology isn't quite up to scratch for the situations confronting VPE.
 
BraceFace said:
Ok, Vic Pet has hit a new 12month low of 2.2c today(on high volume)
Has been trading in the 2.4-2.6c range for nearly 6 months now.
Before then it was tarding around 3c.

No announcement today.
Something in the pipeline perhaps or are people getting fed up with this company and moving onto better prospects?

For me, seems like a good punt at 2.2c.

Waddayareckon?
Click to expand...
Not good reports coming out. Problems with Primero 1 well. Cost overruns on Eagle North in America. VPE are the operators there and have been having trouble with it for weeks now. I bought more a week ago hoping for good news this week. Will hold because I think they will come good. I have usually traded in these by selling on good news and buying on bad, This time I broke my own rule and have lost out. 2.2c on bad news is probably a good punt.
 
OK, I might be getting excited here but.....

I took that punt I talked about in my last posting and bought in at 2.2c.
It's now 2.4 c.

Big deal you say?
That's 9% in 2 days.

If it gets back to 2.5 or 2.6c - I'm outta there.
I'll take my 12-16% and run. :run:

Should have bought more :guitar: Yeahhhhh!!
 
Oilbarrel 2 Nov 2006 Eagle North 1

http://www.oilbarrel.com/home.html


02.11.2006
Empyrean Energy Looks To Sugarloaf Prospect For Sweet Smell Of Success



"Empyrean Energy Looks To Sugarloaf Prospect For Sweet Smell Of Success
London AIM-listed Empyrean Energy is drilling ahead with the Sugarloaf-1 exploration well in Texas, where it hopes to bring a smile to investors' faces ahead of the Christmas break. Empyrean is earning a 6 per cent equity share in the Sugarloaf Hosston prospect in the onshore Gulf Coast Basin, with initial drilling scheduled for completion later this month, slightly behind original timings.

Empyrean farmed into the acreage earlier this year and partners Aussie duo Aurora Oil & Gas and Adelphi Energy, alongside operator Texas Crude Energy Inc. The proposed total depth of the well, which crosses a number of potentially interesting formations, is around 21,000 feet.

There is clear potential, especially in such a built-up, gas-hungry neighbourhood. Sugarloaf is an 80 km four-way closure that could hold several trillion cubic feet of gas, making it one of the largest undrilled structures onshore US. The P50 resource number on the prospect is 0.97 tcf and it carries a P10 estimate of 2.3 tcf.

But only time will tell how good Sugarloaf will taste. In the meantime, Empyrean can take heart from earlier drilling at its other US play, the Eagle Oil prospect in the San Joaquin Basin in California. A proven oil and gas zone - the area has produced some 12 billion barrels of oil and 11 tcf of gas through the years - the project offers strong potential for near-term production and cash flow.

Empyrean signed up for a 38.5 per cent slice of Eagle Oil just months after its market listing last year, and now partners another reputable Aussie in the shape of Victoria Petroleum NL. But getting the oil out of the ground is the key challenge. A workover rig is testing encouraging oil shows from previous drilling at the Eagle North-1 well, though the project has faced delays due to supply and equipment bottlenecks.

The group plan a future re-entry and sidetrack from the current cased Eagle North-1 well bore in the lower Gatchell oil sand, about 14,000 feet down. This future well test will indicate the size of the Eagle Oil pool, according to Tom Kelly, Empyrean's commercial director. “We know that oil is there,” he says. “We just need to flow test.”

More than a year after its AIM listing, Empyrean has bolstered its portfolio with two promising, and fairly low-risk, US-based projects. An additional capital raising exercise earlier this year means it is well placed to continue its exploration and work towards first production. This includes ongoing site work in Germany, the firm's other core territory.

On the other side of the Atlantic, the UK firm has a stake in the Glantal Prospect, Neues Bergland permit, close to Frankfurt, which is operated by Pannonian International Limited. The joint venture, which gives Empyrean a 40 per cent working interest - and the possibility of raising this to 52 per cent - hopes to extract gas trapped in deep coal beds.

Again, the prospect is thought to contain several tcf of recoverable gas reserves, hugely attractive figures anywhere but especially so in Western Europe's industrial heartland. But there is still some way to go, with further testing planned following initial positive drilling and gas shows."
 
Eagle will most likely sit on the shelf for some time and a new operator will be sought.

Partners will farm down to bring in a new operator and chances are a less risky drill will be done. Many regular vertical drills rather than a complex horizontal bore.
 
VPE.

is it a share not for growth but for the big fish to go in and out of the stock....

they probly make massive dollars on it. any movement is always around 10%.


2.4 cents now.... undervalued?


Question.. will VPE ever get over 10 cents... and become a real stock not just a botoom shelfer
 
Ken said:
VPE.

is it a share not for growth but for the big fish to go in and out of the stock....

they probly make massive dollars on it. any movement is always around 10%.


2.4 cents now.... undervalued?


Question.. will VPE ever get over 10 cents... and become a real stock not just a botoom shelfer
Click to expand...
Probably about to happen. Through a share consolidation. 10 new shares for 100 old ones will get it to 24c. Will you be better or worse off if it happens /
 
i just think if there are too many shares on offer it reduces value of shares significantly.


would VPE be a buy at the moment..

what do people value them at?
 
Ken said:
i just think if there are too many shares on offer it reduces value of shares significantly.


would VPE be a buy at the moment..

what do people value them at?
Click to expand...
2.4c. That is what they have been at or near for awhile now.They must come up with some results to be worth more. Hot rock energy a possibility. Eagle north had prospects but costs have got out of hand with the problems there. I've been in and out a few times. They are a good one to buy on bad news and sell on the good because the good news has never been good enough. They do have a few irons in the fire though and one of these days they may turn out OK. Not my favourite stock.
 
Heads Up

Have been waiting for this to break resistance for some time.

Recent 10 to 1 Consolidation puts the share at 22.5c....up 1.5c to 24c today. with buyers at 24c and sellers at 25c so could push on.( although volumes are low.)

VicPet have a steady cashflow from existing wells and are currently drilling 2 wells Donga-4 and Bowler, with more than 10 more to drill in next 6 months.

They also hold 5% of Origins Jingemia and Hovea wells which recently announced as a significant oil flow.

Watch for January Issue of a 1:4 bonus issue of 3 year options exercisable at @ 25c.

Any one else following this at the moment as Im not sure how to weigh up the downside vs upside potention on this one.
 
Here's a question..

Since the recent 10 to 1 share consolidation, my online trading account with the NAB indicates I own my original holdings in VPE at a value of Zero cents!!

They have not acknowledged the new trading conditions or ticker symbol (VPEDA), and as a result I can't sell my holdings.

Has any one else had this problem with their trading account, NAB or otherwise.

Makes me mad - I want to sell with the recent price movement.
 
After weeks of going sideways, this stock is seeing a little turn upwards. Not much volume, lots of little trades, but it's finally doing something.

Good market sentiment? Something significant to announce soon? Who knows??

m.
 
Hmmmm just announced oil shows in a well they are drilling, have a heap more wells coming, highest volume in over six months... (and I wouldn't call over $900K worth of trades exactly small volume)... I'm hoping that it is a breakout :)

Chart from today looks pretty good to me (but I'm biased because I have a big holding and it has just gone from a loss position to in front ;) )

Gap up probably means we will see it return to 26c sometime in the not too distant future, but I'm pretty happy right now :)

Disclosure: I am overweight on VPE and will likely sell 60% of my holdings if they get to around the 32c mark.

Tony.
 

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