Australian (ASX) Stock Market Forum

VPE - Victoria Petroleum

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I took a loss on this one last year as it seamed that nothing much was happening. Good to see patient holders finally getting that move!
 
Having experienced and followed this stock for many years I'm not all that confident on the actual production outcome of many of their wells. Time for me to take profits after the recent run up. Good luck, hope it runs and runs.
 
Yes; I downsized my holding after years of watching all the juicy prospects turn out to be fizzles. However, I hope things are now set for a long term advance into the future.
 
Hi

i am looking at VPE from their CSM angle. I note that their chairman is Denis Patten, he was a director of QGC. I presume it was at his instigation that QGC have taken a 7% stake in VPE?

VPE have been a less than fantastic oil play for a while however i note in their presentation that they are divesting their US oil plays and concentrating on proving up their oil and CSM interests in australia.

They have a lot of exploration targets (30 in SA (16 oil) and QLd (14 CSM)) on the table which must be showing something or QGC wouldnt have bought in. They stated aim is certification in 2008 so maybe they are ready?

VPE have $9 million in cash plus production revenue and have more 2p reserves potential than SHG plus all of their other projects make them pretty attractive imo.

Any holders have any feedback or thoughts?
 
Sent an email to QGC asking about their stake in VPE. Response from their communications manager was,

"We’re not making public comment on that one beyond what we said at the time to journalists who sought comment – that it was attractively priced, we like the asset obviously, and it suits our strategy."

Link to the market release at the time is below.

Given that the location of VPE is adjacent to where the proposed pipeline to Gladstone is running, QGC will have some more feedstock for the proposed plant. The 2p reserves potential is good and as tyhey have openly said, they like the asset.

All in all a good package without consideration to the SA projects which are a revenue earner in their own right and CSM is a high growth industry. They are divesting themselves of teh US based operations so enough to present a positive case for me.

http://www.qgc.com.au/_dbase_upl/13Mar08 Position in VPE.pdf
 
good day for VPE today on strong volume. the whole sector is moving now. VPE have a strong showing in QLD with CSG plus they have CSG in SA as well. I am trying to establish whether QGC having taken a position to gain some traction into SA or they are after staff to enable expansion. Perhaps its both. Either way there it is good for VPE imo.
 

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TheAbyss,
I'll be frank here.... VPE is an absolute joke ,dog of a company;).
I got fed up with it when all those letters started being sent out to shareholders at the start of this year.:rolleyes:
What a sh!tfight!!!
VPE has been around for a while now but still not bringing in the bacon let alone the bread.
Maybe a good one for traders lately ($0.15 - $0.20) but thats about it.... I certainly would not be a long holder of this one ATM.
Be careful with this one, full of empty promises IMHO.

Cheers
 
VPE is green today in this sea of red, up 4c (which is a lot for them), it's gotta be speculation or insider knowledge. Oh well, I took the chance to get out after holding for a couple of years with about a $100 loss.

Good luck to those that continue to hold.

m.
 
Haven't seen this much volume since QGC picked up a stake. Buyers to sellers ratio is good plus up nearly 20% today on the good volume.

Interesting times in the CSG space.
 
VPE up again today even though Freshwater 1 results don't look good. What is going on?

I don't mind the rise but would like to know who is buying and why. Is it just the rising oil price or is a takeover in the wind?
 
Oil shows ar growler are what's driving this upwards at the moment - we'll have to see if they can keep going with good news. It's another of those forgotten stocks....
 
Hatchy,
I agree with your sentiments on VPE...
it has some great CSG assets, and oil assets...Queensland Gas is likely to take a stab at the company later this year...
Whole CSG sector has cooled... this will heat up again...
:cool:
.^sc
 
Anyone watching this stock...?
today there was an on market trade of 49 million shares...
There is no announcement but it is likely to be ODN selling there position, and guess who they are likely to have sold it to---> QGC....as I said, QGC is likely to takeover VPE... they are getting positioned...
Not much downside with VPE...
Great CSG acerage, and growing Oil producing assets...
:cool:
.^sc
 
Shrewd Crude said:
Anyone watching this stock...?
today there was an on market trade of 49 million shares...
There is no announcement but it is likely to be ODN selling there position, and guess who they are likely to have sold it to---> QGC....as I said, QGC is likely to takeover VPE... they are getting positioned...
Not much downside with VPE...
Great CSG acerage, and growing Oil producing assets...
:cool:
.^sc
Click to expand...

Whoever was involved, it wasn't QGC buying. They already hold 19.24% (61.9mil) and can only purchase another 0.75% (250k). They would have to make a takeover offer to go above a holding of 20%.

This was a special crossing and may simply have been an internal transfer.
 
your right dubious,
maybe ODN sold to someone else then huh?...
the big boys are circling, which CSG company is next?
VPE's got to be right up there... its market value has held back compared to its peers because of market sentiment over management... but these fellas are sitting on some excellent acerage... Last week BOW came out with great news with its successful application on three amazing blocks in the Bowen basin...
:cool:
.^sc
 
I hold VPE, and my feeling is it is just ODN restructuring their holdings. I don't think we will see any change of substantial holding notices. ODN would have been stupid to offload their holdings at 19.5c at this time IMO. Unless they had the receivers knocking on the door I doubt very much that they will have.

The trade was an overseas special cross trade, I've seen these before with other companies with no change in substatial holding notices ever forthcoming.

Tony.
 
dubiousinfo said:
Whoever was involved, it wasn't QGC buying. They already hold 19.24% (61.9mil) and can only purchase another 0.75% (250k). They would have to make a takeover offer to go above a holding of 20%.

This was a special crossing and may simply have been an internal transfer.
Click to expand...

Announced tonight 7/10/08 becoming a substantial share holder from Sentient Executive GP Ltd with 49,684,394m shares
 
Another old stock of mine that came out well in the end, not holding now. Maybe better as it has just been placed in "Trading Halt" this morning.
 

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