VPE, Victoria Petroleum (Now SXY: Senex Energy)

[shasta]

cheers, Bermuda, i thought if anyone would know you would. i must say it's rather good to have someone with a redphone. i strongly expect there will be a simple explanation - but it will be useful to get clarification. i'm a little surprised that nobody else has mentioned this here or on the BOW thread - perhaps that means i'm the only one who's a bit baffled (if anyone else noted this and/or has an opinion i'd be pleased to hear). thanks again, Bermuda. hope your weekend is a good one.

-j

VPE weekly update...

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167666

[bermuda]

cheers, Bermuda, i thought if anyone would know you would. i must say it's rather good to have someone with a redphone. i strongly expect there will be a simple explanation - but it will be useful to get clarification. i'm a little surprised that nobody else has mentioned this here or on the BOW thread - perhaps that means i'm the only one who's a bit baffled (if anyone else noted this and/or has an opinion i'd be pleased to hear). thanks again, Bermuda. hope your weekend is a good one.

-j

Had a chat to JK on Friday. Everything okay with their drilling programme and they are on track to prove up 200BCF at Don Juan. There is plenty of drilling to be done this year so here's hoping for some good results.

SHG's Lacerta seems to be going well. Wont be long before VPE enjoys some sunshine too.

[jdg]

thanks, mate. still scratching my head about the difference in reporting the different drills but i'm pleased to hear all is going well. thanks again.

-j

[shasta]

thanks, mate. still scratching my head about the difference in reporting the different drills but i'm pleased to hear all is going well. thanks again.

-j

Drilling of Growler-4 starts

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167681

[bermuda]

Drilling of Growler-4 starts

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167681

Something to brighten the day. The shareprice didnt. I can understand the slide and am confident VPE has a very good future. I like the story.

But after the next bubble ( which will come ) I will be asking you and Phaedrus for a sell signal.

[shasta]

Something to brighten the day. The shareprice didnt. I can understand the slide and am confident VPE has a very good future. I like the story.

But after the next bubble ( which will come ) I will be asking you and Phaedrus for a sell signal.

$1 per share sounds like a good signal to me :D

[trackers]

Something to brighten the day. The shareprice didnt. I can understand the slide and am confident VPE has a very good future. I like the story.

But after the next bubble ( which will come ) I will be asking you and Phaedrus for a sell signal.

Yep this is all good. SP has been drifting downwards lately; not remarkably surprised, and at least we see that this has been on very small volumes. Q4 2009 should be good times

[bermuda]

$1 per share sounds like a good signal to me :D

$1.00 I just hope that JK and VPE hold out that long before the QGC offer comes in. And QGC/BG still havent secured their CSG reserves yet. So you never know.

There is a lot coming up. But meanwhile all the junior oilers/CSG's are getting slaughtered.

Wont be that long until the fish swim the other way. This company could easily get to $2 with a bit of luck. Need a few quick positive drills to start with.

At least they will be cash positive shortly. What a change around since early June for all these small oilers/CSG's eh. Oh well...I like the story .

[shasta]

$1.00 I just hope that JK and VPE hold out that long before the QGC offer comes in. And QGC/BG still havent secured their CSG reserves yet. So you never know.

There is a lot coming up. But meanwhile all the junior oilers/CSG's are getting slaughtered.

Wont be that long until the fish swim the other way. This company could easily get to $2 with a bit of luck. Need a few quick positive drills to start with.

At least they will be cash positive shortly. What a change around since early June for all these small oilers/CSG's eh. Oh well...I like the story .

I doubt QGC will sit back & let VPE run to $1. :(

I'd imagine around 40 - 50c max, & QGC will pounce depends on ODN i suppose?

[STRAT]

I doubt QGC will sit back & let VPE run to $1. :(

I'd imagine around 40 - 50c max, & QGC will pounce depends on ODN i suppose?Im betting they will have a crack at it way below that :(

[trackers]

Pleased to see that Cuisinier‐1 and Don Juan are still ticking along nicely... From BOW:



ATP 752P Cooper‐Eromanga Basin (Bow 15% after farmout completed) Cuisinier‐1 completion
and testing to commence
Santos, the operator of ATP 752P, has advised the completion and testing of the Cuisinier‐1 well
is due to commence early next week. Potential oil zones in the Triassic aged Doonmulla
sandstone and Jurassic aged Birkhead sandstone will be tested prior to the completion of the
Murta sandstone oil zone. The testing program is expected to take up to two weeks.

Don Juan CSG Joint Venture (Bow 55%) – Taringa South‐3 Reaches Total Depth
The Taringa South‐3 core hole reached a total depth of 282 metres on 10 August 2008. A total of
three core samples were taken for gas content estimates and other analysis with 3.95 metres of
net coal intersected. The Depco coring rig has been released.
The core hole drilling exploration program is designed to determine coal thickness and gas
contents of coals in the area drilled which are important components required for the Don Juan
Joint Venture reserves certification process.
The forward plan is to carry out a complete data and mapping review and report integrating all
drilling and production results to date once the desorption of the coal cores is received over the
next few weeks. The results will be supplied to the reserves certifiers, MHA Petroleum
Consultants (MHA) in Denver.
Following the MHA review of the results to date, Bow will work with MHA to determine the
optimum location and wells for an extended pilot program, if required.

[Huang Chung]

Doesn't 3.95m of coal seem a bit on the thin side?

[STRAT]

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/Superchart?session=20FFA7C9-6FD8-449A-A7D3-66EBC609E3DB&instrument=VPE&exchange=ASX&period=6M&ps=&vs=LINE&ct=LINE&comps=&compi=&ma1=30&ma2=10&bb=Y&ind=MACD&template=dblsuperchart&adj=yes&ra=2

Is there a change in sentiment here?

[trackers]

Yep, looking good...With the drilling programme going well and VPE inching towards reserves certification everythings all good. Has been drifting around on low volumes for a while, won't take much buying volume to see it go upwards a good amount

[STRAT]

Hi Trackers and SS:D,
Im not getting too excited yet fellas. You could fit the people who may have had a change in sentiment into a phonebooth. Might just be a blip on the way down :eek: but quite a few of the stocks I follow are showing signs of a bottom.

[Financially dependant]

Hi Trackers and SS:D,
Im not getting too excited yet fellas. You could fit the people who may have had a change in sentiment into a phonebooth. Might just be a blip on the way down :eek: but quite a few of the stocks I follow are showing signs of a bottom.

It might be time to get excited:)!

QGC take over??, SHG take over?? and now oil shows at Growler 4, ann out..

http://stocknessmonster.com/news-item?S=ITC&E=ASX&N=418054

[trackers]

Hi Trackers and SS:D,
Im not getting too excited yet fellas. You could fit the people who may have had a change in sentiment into a phonebooth. Might just be a blip on the way down :eek: but quite a few of the stocks I follow are showing signs of a bottom.

Awww cmon! VPE up 8% today, has struck oil at Growler-4! Gotta have faith Strat :)

Thanks for the link FD, saw it on asb but couldn't copy/paste the best bit:



"The primary objective, the Birkhead Formation sandstone, was intersected at 1722 metres MD as
prognosed and good oil shows of fluorescence associated with elevated mud gas readings were
encountered over the 18 metre interval 1722 metres to 1740 metres. Fluorescence shows have
persisted past this depth which is why the well is being deepened to 1835 metres. The significance
of the deeper shows will be evaluated by the wireline logs. However, the well has come in
substantially as prognosed and is likely to be completed as an oil producer once the wireline
evaluation is complete."

[STRAT]

Awww cmon! VPE up 8% today, has struck oil at Growler-4! Gotta have faith Strat :)

:Ok Trackers, Im a bit excited now :p:D:D

[shasta]

Ok Trackers, Im a bit excited now :p:D:D

Oil shows at Growler-4 :eek:

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167819

[STRAT]

Oil shows at Growler-4 :eek:

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167819Not only that, its through the orange line :eek:

[Financially dependant]

latest from growler 4, 18 metre oil column:)

http://stocknessmonster.com/news-item?S=ITC&E=ASX&N=418185

[bermuda]

latest from growler 4, 18 metre oil column:)

http://stocknessmonster.com/news-item?S=ITC&E=ASX&N=418185

A nice result which will add to cashflows. I cant wait for Warhawk and Wirriway to be drilled. If they are all interconnected we are off to the races.

As always, the drill bit does the talking.

[shasta]

A nice result which will add to cashflows. I cant wait for Warhawk and Wirriway to be drilled. If they are all interconnected we are off to the races.

As always, the drill bit does the talking.

Wire logs confirm oil shows in Growler-4 :)

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167849

[STRAT]

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/Superchart?session=20FFA7C9-6FD8-449A-A7D3-66EBC609E3DB&instrument=VPE&exchange=ASX&period=6M&ps=&vs=LINE&ct=LINE&comps=&compi=&ma1=30&ma2=10&bb=Y&ind=MACD&template=dblsuperchart&adj=yes&ra=2

Is there a change in sentiment here?Hey Tricha,
dont you just love the way the clouds saw the price rise coming two days ago :D:D:D

Sorry mate couldnt resist :cool:

[shasta]

Hey Tricha,
dont you just love the way the clouds saw the price rise coming two days ago :D:D:D

Sorry mate couldnt resist :cool:

Strat

Care to repost that chart, using candles instead of the line

Cheers

[STRAT]

Strat

Care to repost that chart, using candles instead of the line

CheersVictoria Petroleum - Ordinary Fully Paidhttps://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=2E5B92D6-C40F-44AE-8C32-32369090F3B8&instrument=VPE&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=&ma2=&bb=&ind=MACD&ra=2

[shasta]

Victoria Petroleum - Ordinary Fully Paidhttps://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=2E5B92D6-C40F-44AE-8C32-32369090F3B8&instrument=VPE&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=&ma2=&bb=&ind=MACD&ra=2

Thanks, just as i suspected ;)

[trackers]

Thanks Strat, nice graphs.... Don't you just wonder what sort of rise we'd see on decent volumes as per March and June? Mini volumes sending it from 16c to 22c...

The next month should be a good one for VPE, can't wait for them to tie these growler discoveries together and get into it. Good times

[STRAT]

Thanks Strat, nice graphs.... Don't you just wonder what sort of rise we'd see on decent volumes as per March and June? Mini volumes sending it from 16c to 22c...

The next month should be a good one for VPE, can't wait for them to tie these growler discoveries together and get into it. Good timesHi Trackers,
I held VPE through this drop against the chart which said sell :o but its nice to be back in positive territory even if it is on tiny volume.

The thing that worries me about next month is the yanks who I suspect are going to subject us to some more misery. I wouldnt be surprised if we are back down in the teens. Overall market sentiment rules above all else.

I bought RPM at 6 and sold at 19.5 and 20.0. I will play VPE the same way ( with the charts ) next time round.
Imagine how much better off I would have been If I had sold VPE in the 20's and bought back in two days ago :rolleyes:

The thing about the rise on small volume is it could turn in the blink of an eye. Makes sense when you think about it I guess. Might just be a few traders having a play or a few mums and dads but I think ( hope ) a possible QGC scenario would give us stability just as it has done with RPM over the last month. Down side to that possibility is of course it will be a low ball offer. As Bermuda points out we can only hope ( if an offer comes ) that VPE management hold out for better coin.

[bermuda]

Hi Trackers,
I held VPE through this drop against the chart which said sell :o but its nice to be back in positive territory even if it is on tiny volume.

The thing that worries me about next month is the yanks who I suspect are going to subject us to some more misery. I wouldnt be surprised if we are back down in the teens. Overall market sentiment rules above all else.

I bought RPM at 6 and sold at 19.5 and 20.0. I will play VPE the same way ( with the charts ) next time round.
Imagine how much better off I would have been If I had sold VPE in the 20's and bought back in two days ago :rolleyes:

The thing about the rise on small volume is it could turn in the blink of an eye. Makes sense when you think about it I guess. Might just be a few traders having a play or a few mums and dads but I think ( hope ) a possible QGC scenario would give us stability just as it has done with RPM over the last month. Down side to that possibility is of course it will be a low ball offer. As Bermuda points out we can only hope ( if an offer comes ) that VPE management hold out for better coin.

Had a half hour chat with JK this arvo. He had just returned from a trip out to the 'outback' to see Growler-4. He was very pleased with the outcome of Growler -4 and was looking forward to Warhawk and Wirriway which could possibly be all tied back to Growler.He was pretty enthusiastic about that scenario but will have to await the drill bit later this year. VPE are going to concentrate on the Cooper Basin and are proceeding to sell off the USA assets which will help the coffers.

On the CSG side everything is proceeding at Don Juan to prove up 200BCF but he was more excited about PL171 and ATP 574 which have really good CSG potential.And they are going to be drilled shortly but to be honest it takes an age to get certified.

A good controlled program to increase shareholder value...and if Warhawk and Wirriway are connected to Growler then 'we are all off to the races'. I am definitely holding.

[STRAT]

Had a half hour chat with JK this arvo. He had just returned from a trip out to the 'outback' to see Growler-4. He was very pleased with the outcome of Growler -4 and was looking forward to Warhawk and Wirriway which could possibly be all tied back to Growler.He was pretty enthusiastic about that scenario but will have to await the drill bit later this year. VPE are going to concentrate on the Cooper Basin and are proceeding to sell off the USA assets which will help the coffers.

On the CSG side everything is proceeding at Don Juan to prove up 200BCF but he was more excited about PL171 and ATP 574 which have really good CSG potential.And they are going to be drilled shortly but to be honest it takes an age to get certified.

A good controlled program to increase shareholder value...and if Warhawk and Wirriway are connected to Growler then 'we are all off to the races'. I am definitely holding.Hi Bermuda I must confess it was your research, enthusiasim and connections that kept me holding during the retrace and which made me put VPE into my investment account rather than into my trading account. Hope QGC dont cause us any disappointment.

Looking for another entry point in BOW :D

[trackers]

Hi Trackers,
I held VPE through this drop against the chart which said sell :o but its nice to be back in positive territory even if it is on tiny volume.

The thing that worries me about next month is the yanks who I suspect are going to subject us to some more misery. I wouldnt be surprised if we are back down in the teens. Overall market sentiment rules above all else.

I bought RPM at 6 and sold at 19.5 and 20.0. I will play VPE the same way ( with the charts ) next time round.
Imagine how much better off I would have been If I had sold VPE in the 20's and bought back in two days ago :rolleyes:

The thing about the rise on small volume is it could turn in the blink of an eye. Makes sense when you think about it I guess. Might just be a few traders having a play or a few mums and dads but I think ( hope ) a possible QGC scenario would give us stability just as it has done with RPM over the last month. Down side to that possibility is of course it will be a low ball offer. As Bermuda points out we can only hope ( if an offer comes ) that VPE management hold out for better coin.

Hey Strat.... I've done pretty well out of VPE, running the options from 9 to 12-ish and the heads from 18.5 to 22c; my major disappointment was not paying attention to the writing on the wall with NZO and following that all the way down (actually, I sold at 1.88 then changed my mind and brought again at 1.88...even worse!).

Anyway.. I personally think the low volumes in VPE (and others) reflect money moving out of oil&gas as the huge bull run ran out of steam. Not to worry, price of gas has still doubled in a year!

If China starts buying up oil & gas large post-olympics it should put the heat back on Peak Oil, and consequently things on the fringes like CSG will come back into the limelight... Should be a nice finish to the year I suspect. My only concern at this stage would be major delays to the cert process or multiple dusters.

Edit: After posting, checked POO - WOW! Brent Blend Price: 117.63 Change:+8.51 +7.23%

Russia/US tension, China demand, weakening US dollar. Check out

http://money.cnn.com/2008/08/21/news/economy/oil_price_floor/index.htm

http://www.theaustralian.news.com.au/story/0,25197,24216874-20142,00.html

[trackers]

Exciting! Early start to the Growler 3 campaign, drilling now... (and why not? With successes at 1,2,4):

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167952

[jdg]

Exciting! Early start to the Growler 3 campaign, drilling now... (and why not? With successes at 1,2,4):

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167952

yip, and G4 took just ten days from the start of drilling to final test results, so not too long to wait. let's hope we get a similarly good result.

-j

[bermuda]

Exciting! Early start to the Growler 3 campaign, drilling now... (and why not? With successes at 1,2,4):

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167952

Hi trackers,
Yes as I said a few days ago JK is pretty excited about Growler ( it is starting to growl!! )

The latest Growler drill was better than ever and it would be excellent news if this current drill was as good. Growler could go past 600 bpd which is seriously good income. Plus we have the potential ( and it is only potential so I am not getting too carried away ) for Wirriway and Warhawk to be connected. Could be a mini TUI !!

But he is also excited about the big potential CSG certification programmes coming up.

There are still a lot of doubters around but I have always liked this story. The options are real cheap considering where VPE will go.
Cheers

[jdg]

bermuda, when might we expect don juan to be certified? is there any sort of timeline or estimate? surely it is a key driver for the sp.

-j

[bermuda]

bermuda, when might we expect don juan to be certified? is there any sort of timeline or estimate? surely it is a key driver for the sp.

-j

jdq, there are a lot of drivers for VPE's shareprice. Don Juan should prove up about 50 cents for VPE on its own but I wouldnt expect full certification until early 2009.

QGC are keen to get stuck into PL171 and ATP574 which will mean a big big year for VPE. And Odin will make sure we get a good price should QGC or anyone else want a piece of the action.

That is why I like the options.

[jdg]

thanks, bermuda, once we have certification we have value. the great thing about VPE is we have a few other drills to keep us interested in the meantime. undoubtedly it will be CSG that defines this stock, but it's oil assets shouldn't be taken lightly. even at current modest levels they are able to pay a few bills, and the potential is there to stike it rich. it's a nice wee stock (but it does seem to have burned a few people in the past, let's hope those days are well gone and some confidence can return - as happened to NZO).

-j

[shasta]

thanks, bermuda, once we have certification we have value. the great thing about VPE is we have a few other drills to keep us interested in the meantime. undoubtedly it will be CSG that defines this stock, but it's oil assets shouldn't be taken lightly. even at current modest levels they are able to pay a few bills, and the potential is there to stike it rich. it's a nice wee stock (but it does seem to have burned a few people in the past, let's hope those days are well gone and some confidence can return - as happened to NZO).

-j

Drilling started for Growler -3

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167952

[AMR]

Once certified, how much capital will it take to actually get cashflow from Don Juan?

I hope they don't make another placement to QGC to fund development.

[bermuda]

Once certified, how much capital will it take to actually get cashflow from Don Juan?

I hope they don't make another placement to QGC to fund development.

The big boys provide the capital e.g. BG/QGC...and the minnows provide the CSG . Many permutations but it is very profitable for everyone especially with rising LNG prices.

You just have to look at the prices some of the majors are prepared to pay for secure CSG/LNG supply.

Good question and deserves a more thorough reply if anyone has the breakdown.

[Oiler]

Once certified, how much capital will it take to actually get cashflow from Don Juan?

I hope they don't make another placement to QGC to fund development.

AMR

Developing CSG fields is a very capital intensive business and way beyond the reach of most of the current explorers.

As Bermuda says they need the money from the big guys.....:eek:

The CSG industry does have a future, no doubt about that, but to me it is fraught with problems. That said problems can be overcome with money.

Risky business but as a trader you could make some money :D

Oiler

[The Big Ease]

good thread all.
looks like some are already enjoying gains on this stock.

looking to invest some surplus and this one looks interesting enough, though a pile of announcements to go through.

can i ask for a recommendation on which doc to start with? last year's annual report seems quite dated.

a summary on the projects to drive up value would be a good heads up too.

thanks in advance.

[trackers]

good thread all.
looks like some are already enjoying gains on this stock.

looking to invest some surplus and this one looks interesting enough, though a pile of announcements to go through.

can i ask for a recommendation on which doc to start with? last year's annual report seems quite dated.

a summary on the projects to drive up value would be a good heads up too.

thanks in advance.

Hey, the recent quarterly report will give you a fairly good overview:

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=167534

Note that there's been more success at Growler following that announcement, and testing at Cuisinier-1 by Santos is currently underway

[jdg]

well, Bermuda, your anticipation of Warhawk and Wirriway will get its first test shortly. Warhawk is to be drilled after G3 (so perhaps in just over a fortnight or so). let's hope that comes up trumps. never a dull minute with VPE.

-j

[bermuda]

well, Bermuda, your anticipation of Warhawk and Wirriway will get its first test shortly. Warhawk is to be drilled after G3 (so perhaps in just over a fortnight or so). let's hope that comes up trumps. never a dull minute with VPE.

-j

Hi jdq,
Yes, a pretty full on program at the moment and then QGC want to get cracking with the CSG testing too before year end.

The drill bit does the talking. The facilities are in place.
Cheers

[Financially dependant]

Corporate Presentation Good Oil Conference 2 and 3 Sept 2008

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=168060

large file!

Up grade in target sp! All good news!!

[Mysterybox]

Corporate Presentation Good Oil Conference 2 and 3 Sept 2008

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=168060

large file!

Up grade in target sp! All good news!!

Printing the drilling schedule and speculative prices for my wall now. Making a real trading office here :) looks to be a good presentation, they should really improve the image quality though, I don't understand why this isn't top notch.

[trackers]

Good read, BOW's presentation also very relevant:

http://www.stocknessmonster.com/news-item?E=ASX&S=BOW&N=202789

Cuisinier-1 bigger than expected? Looks like it, but we'll know for sure soon

[Mysterybox]

Cuisinier-1 bigger than expected? Looks like it, but we'll know for sure soon

I was a little confused also, but thought they were refering to the discovery of oil close by, perhaps a connection? I am unsure.

[Corporate]

Yeah would be interest in others thoughts to the above post?


Also why the increase in SP target/expectattion?

[trackers]

Yeah would be interest in others thoughts to the above post?


Also why the increase in SP target/expectattion?

G4, and a few other successfuls since the last conference is my take... The conference + ITC's latest announcement suggest a probable 200BOPD from G4 which is excellent....


I was a little confused also, but thought they were refering to the discovery of oil close by, perhaps a connection? I am unsure.

Testing of the Cuisinier-1 discovery started on 22Aug and was expected to take up to two weeks... Being the 3rd now thats before Friday if my calculations are correct!

[bermuda]

G4, and a few other successfuls since the last conference is my take... The conference + ITC's latest announcement suggest a probable 200BOPD from G4 which is excellent....



Testing of the Cuisinier-1 discovery started on 22Aug and was expected to take up to two weeks... Being the 3rd now thats before Friday if my calculations are correct!

I was thinking about the Cuisinier upgrade and then I saw the BOW presentation which shows the new potential. It is certainly very encouraging especially as the data must have come from SANTOS who were lured back into this area to exploit what could be a very prolific fairway. Could be an interesting end to the week.

I agree the latest VPE presentation is a bit 'tired' and needs a revamp and more clarity.
I will mention it to JK.

VPE will get a big boost if Growler goes above 600 bpd and an added boost if Cuisinier gets upgraded.

[The Big Ease]

sp looks like it is on its way back down to sub 20cents.
any thoughts on this?

[bermuda]

sp looks like it is on its way back down to sub 20cents.
any thoughts on this?

It is one of those stocks which has a huge negative following despite a wonderful forward looking program.

Bit like NZO a couple of years ago.

Growler looks like being quite positive to me.

[trackers]

sp looks like it is on its way back down to sub 20cents.
any thoughts on this?

To be completely honest I think its just market sentiment towards oil and gas at the moment... BOW/RPM etc are all doing pretty much the same. The end of the year is where I'm really expecting to see good things happen, I can wait it out until then

[jdg]

first indications from G3 look very good. let's hope the wireline logs can confirm.

-j

[trackers]

first indications from G3 look very good. let's hope the wireline logs can confirm.

-j

Very cool, another discovery! Being so close to all the others, surely they wouldn't have to confirm much for it to be commercial?



At 0800 hours WST Growler-3 was drilling ahead at 1727 metres in the Birkhead Formation
reservoir, the top of which was encountered at approximately 1720 metres. Good oil shows of
fluorescence and elevated mud gas readings have been noted in the reservoir, which has been
encountered structurally high to prognosis. The significance of the shows and the quality of the
reservoir will be evaluated by the wireline logging program which will be undertaken over the next 24
hours once the well has reached its programmed total depth.
Growler-3 is the second development well to be drilled in the current program. The well is located on
the western flank of the Growler structure 340 metres to the north west of the successful Growler-4
well and has an appraisal as well as a development component. Grolwer-4 intersected better than
expected reservoir development in the form of a channel sandstone in the principal Birkhead
Formation reservoir and there is an expectation that the channel trend may also be intersected by
Growler-3. Growler-4 has been temporarily suspended but the Operator is working towards having
the well on production by early October when it is anticipated that it will add substantially to the
current production from the field of approximately 200 BOPD.
Growler-3 will be followed by the Wildcat well Warhawk-1 in PEL 111. This well will be located 8.5
kilometres north of Growler Field and is part of the substantial exploration program designed to
assess prospects in the near vicinity of the Growler Field.
The Growler Oilfield Central Facilities will also serve as a central production facility for any future
production from the Wirraway Oilfield and, in the event of exploration success, any oil discovered in
the exploration prospects to be drilled in PEL 104 and PEL 111 permit well, Warhawk Prospect, to
the north.
From ITC: http://www.stocknessmonster.com/news-item?S=ITC&E=ASX&N=419879

[The Big Ease]

It is one of those stocks which has a huge negative following despite a wonderful forward looking program.

Bit like NZO a couple of years ago.

Growler looks like being quite positive to me.

cheers Mr B.

I am taking a look at it right now.
just trying to get my head around why this company is any different to the many others who believe they have significant potential reserves.

i can see DJ CSG is where they are hoping to hit it big once certified, with oil in the cooper basin likely to provide plenty of cash in the interim.

your comments about a potential oil fairway joining growler-tigerhawk-wiraway sounds interesting and the company allude to it in some announcements, but what is the basis for this? is the 100m barrel potential based on the prospect these being connected?

[bermuda]

cheers Mr B.

I am taking a look at it right now.
just trying to get my head around why this company is any different to the many others who believe they have significant potential reserves.

i can see DJ CSG is where they are hoping to hit it big once certified, with oil in the cooper basin likely to provide plenty of cash in the interim.

your comments about a potential oil fairway joining growler-tigerhawk-wiraway sounds interesting and the company allude to it in some announcements, but what is the basis for this? is the 100m barrel potential based on the prospect these being connected?

No I dont think the premise was based on the wells being connected. If they are, we are off to the races. This could be a lot bigger even though Ascender to the west was dry.

It depends on Warhawk which is to be drilled very shortly. If this is a success it will change the company. But the drill bit does the talking. Who knows what's down there.

I am holding on for Don Juan anyway. 50 cents worth by April next year. Better than the bank.

[bermuda]

No I dont think the premise was based on the wells being connected. If they are, we are off to the races. This could be a lot bigger even though Ascender to the west was dry.

It depends on Warhawk which is to be drilled very shortly. If this is a success it will change the company. But the drill bit does the talking. Who knows what's down there.

I am holding on for Don Juan anyway. 50 cents worth by April next year. Better than the bank.

Dont you just love the news this morning!

Growler -3 tested at 1673 bpd of 47 API crude. That is sustantial and now a 5th Growler is being contemplated. Plus the oil handling facilities which have recently only been just completed are now going to have to be upgraded. Far out, that was good news.

Bring on Warhawk. Plus their CSG interests got a big boost with the Conoco -Philips bid for Origin. I wonder what BG does now?

VPE is going to get uprated to where it belongs.

[OutToLunch]

Ssshhhh for gawd's sake, don't put the sellers off... I'm still in the queue to get some more! :rolleyes:

[shasta]

Ssshhhh for gawd's sake, don't put the sellers off... I'm still in the queue to get some more! :rolleyes:

Here's the full link for today's ann re Growler-3

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168143

[bermuda]

Here's the full link for today's ann re Growler-3

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168143
Hi Shasta,
Dont you positively dream of these days? It has been very good.

For the first time I can sense that we are on our way. I have believed this story so much I wondered if I was getting paranoid. And then we get this announcement. It just makes you realise that the VPE story is true.

This is a very well managed company and with a very strong Board.

Wonder what BG are going to do. Up the price again???

[Corporate]

Hi Shasta,
Dont you positively dream of these days? It has been very good.

For the first time I can sense that we are on our way. I have believed this story so much I wondered if I was getting paranoid. And then we get this announcement. It just makes you realise that the VPE story is true.

This is a very well managed company and with a very strong Board.

Wonder what BG are going to do. Up the price again???

Bermunda - I'm glad to still be holding VPEO.

Is Growler bigger than expected?

[bermuda]

Bermunda - I'm glad to still be holding VPEO.

Is Growler bigger than expected?

About 5 times methinks. This could actually be quite big.

Sort of gives you 'goosebumps'.

[Financially dependant]

Hi Shasta,
Dont you positively dream of these days? It has been very good.

For the first time I can sense that we are on our way. I have believed this story so much I wondered if I was getting paranoid. And then we get this announcement. It just makes you realise that the VPE story is true.

This is a very well managed company and with a very strong Board.

Wonder what BG are going to do. Up the price again???

Yes an amazing day, I was out most of the time and arrived back to the office to all the good news. When it rains it pours!!

Fundamentally we knew this is a good stock but 1600 bpd was out of the blue:)!!

[The Big Ease]

Here's the full link for today's ann re Growler-3

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168143

thanks for that shasta.

it looks good ;)

[shasta]

Hi Shasta,
Dont you positively dream of these days? It has been very good.

For the first time I can sense that we are on our way. I have believed this story so much I wondered if I was getting paranoid. And then we get this announcement. It just makes you realise that the VPE story is true.

This is a very well managed company and with a very strong Board.

Wonder what BG are going to do. Up the price again???

It's days like these you're belief in VPE has paid off alright.

Gotta back yourself once you've done the research ;)

40% of 1693 bopd = 677 bopd net to VPE = very tidy indeed

[tricha]

It's days like these you're belief in VPE has paid off alright.

Gotta back yourself once you've done the research ;)

40% of 1693 bopd = 677 bopd net to VPE = very tidy indeed

Yeah and ODN own a major chunk of it, watch this space ..............:rolleyes:

[The Big Ease]

im in!
lets see where this one goes ;)

[STRAT]

im in!
lets see where this one goes ;)Hi The Big Ease.
Stalled at 23c by the look of it

[The Big Ease]

yeah, today...

[bermuda]

yeah, today...

I have heard that this is going to be bigger than even I thought. And as as you know I have always been optimistic about VPE. Growler is going to Growl a lot more. Stay with this one. Lot more to come.

DYOR.

[trackers]

Very good result over the last couple of days! VPE and VPEO have done me very well over the last few months.

Growler, wow what a result I hope ppl round here got on board after the initial discovery was announced (20c or so)

[shasta]

Very good result over the last couple of days! VPE and VPEO have done me very well over the last few months.

Growler, wow what a result I hope ppl round here got on board after the initial discovery was announced (20c or so)

VPE - Annual Financial Report

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168175

[The Big Ease]

I have heard that this is going to be bigger than even I thought. And as as you know I have always been optimistic about VPE. Growler is going to Growl a lot more. Stay with this one. Lot more to come.

DYOR.
just reading a few posts over on HC and there are some astronomical calculations.
will need to dig even further into this one. i really dont think the market took the growler result into account the other day when all csg comps rose in unison. i mean 1600 bopd is nothin gto sneeze at ;)

[Huang Chung]

VPE's share of around 700 bopd is nice, but it's not going to re-rate a $74m company in any substantial way in its own right.

Very useful for funding future CSG exploration and production though....

[Corporate]

just reading a few posts over on HC and there are some astronomical calculations.
will need to dig even further into this one. i really dont think the market took the growler result into account the other day when all csg comps rose in unison. i mean 1600 bopd is nothin gto sneeze at ;)


What are these astronomical calculations?

[STRAT]

What are these astronomical calculations?Think of HC calculations as a cross between a lotto add and fairy dust:p

I read the HC threads for years and for the most part the longer and more excited the thread the more likely you awere to loose your dosh

[The Big Ease]

Think of HC calculations as a cross between a lotto add and fairy dust:p

I read the HC threads for years and for the most part the longer and more excited the thread the more likely you awere to loose your dosh
hehe yeahhh
in this at least they were only talking potential and not alleging current undervaluation.

[STRAT]

hehe yeahhh
in this at least they were only talking potential and not alleging current undervaluation.Hi TBE,
That said I must confess to a few successful trades riding on the coat tails of a good HC ramp up :D

[Financially dependant]

I have been trying to read back through VPE's ann's to see what the difference between Growler 1 & 2 (100 bopd) with Growler 4 & 3 (1000, +1600 bopd), VPE mentioned porosity but are G1 & 2 as deep?

[bermuda]

I have been trying to read back through VPE's ann's to see what the difference between Growler 1 & 2 (100 bopd) with Growler 4 & 3 (1000, +1600 bopd), VPE mentioned porosity but are G1 & 2 as deep?

Hi FD,
I did an exercise the other day and all the growler drills found oil at about 1700 metres depth. Plus about the same for Wirriway. The latest two are in better sands and gave really good results. I have been speaking to a few people in the know about Growler and the opinions are optimistic. Flow rates of course have to be proven. A couple of DST's dont neccessarily mean it can be maintained at this level.

There has been considerable work done in trying to prove up an oil fairway and so far so good. And for anyone holding RPM dont forget their 20% holding.

In the course of a year you probably get three or four exciting moments. Growler is one of these moments. There is talk to do a couple of extra Growler drills. And we still have Warhawk to look forward to,,,plus further drilling in this area.

VPE has a very good Plan and a lot going for it.

[Financially dependant]

Hi FD,
I did an exercise the other day and all the growler drills found oil at about 1700 metres depth. Plus about the same for Wirriway. The latest two are in better sands and gave really good results. I have been speaking to a few people in the know about Growler and the opinions are optimistic. Flow rates of course have to be proven. A couple of DST's dont neccessarily mean it can be maintained at this level.

There has been considerable work done in trying to prove up an oil fairway and so far so good. And for anyone holding RPM dont forget their 20% holding.

In the course of a year you probably get three or four exciting moments. Growler is one of these moments. There is talk to do a couple of extra Growler drills. And we still have Warhawk to look forward to,,,plus further drilling in this area.

VPE has a very good Plan and a lot going for it.

Thanks Super B,

Fingers crossed for Growler 5 after the wild cats.

[shasta]

Thanks Super B,

Fingers crossed for Growler 5 after the wild cats.

VPE Ann - Cuisinier-1 flows oil :)

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168219

[shasta]

VPE Ann - Cuisinier-1 flows oil :)

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168219

VPE - Growler-3 update

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168236

[Financially dependant]

The excitement continues...

Warhawk started drilling yesterday

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=168313

[bermuda]

The excitement continues...

Warhawk started drilling yesterday

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=168313

Hi FD
Amazing isnt it? In a bull market news that Growler has got a well that can pump up to 1673 bpd would have set VPE alight. Hardly a murmur. In fact nothing although to be fair it didnt get knocked like the market.

This is revenue producing and exceedingly profitable even at today's 'low' prices.

Make sure you buy stocks that are revenue producing. Things aint looking too good.

[The Big Ease]

hey Mr B.
if this oil fairway is proven with the warhawk drill/s connecting to the growler field, what sort of size are we talking about? 10's of millions of barrels of oil? and what would such a find be worth to the SP?

[bermuda]

hey Mr B.
if this oil fairway is proven with the warhawk drill/s connecting to the growler field, what sort of size are we talking about? 10's of millions of barrels of oil? and what would such a find be worth to the SP?

Bigease,
Have a quick look at the VPE presentation 2/9/08. Talk of a potential 100 million barrel oil Fairway with 27 million recoverable. This is company making and will enable VPE to blossom in an extremely testing economic environment.

You need revenue and profit in this market. VPE is set to outperform. Blossom in fact.

[Financially dependant]

Hi FD
Amazing isnt it? In a bull market news that Growler has got a well that can pump up to 1673 bpd would have set VPE alight. Hardly a murmur. In fact nothing although to be fair it didnt get knocked like the market.

This is revenue producing and exceedingly profitable even at today's 'low' prices.

Make sure you buy stocks that are revenue producing. Things aint looking too good.

Thanks Super B, that's good advice and it has been taken on board. The shares that I hold all meet that criteria.
I am hanging in there waiting for good news and the tide to turn!

[Crypto Crude]

Hey Look...
CUE and VPE are both at 17.5cents...
anyone want a race to 40cents for a beer?
I'll back CUE...
:cool:
.^sc

[bermuda]

Hey Look...
CUE and VPE are both at 17.5cents...
anyone want a race to 40cents for a beer?
I'll back CUE...
:cool:
.^sc

Okay Shrewdy,
I will take a beer off you and....give it to Skol. lol.

I am comforted by VPE having cash in the bank and and some considerable Growler revenue.

[h2so4]

Hey Look...
CUE and VPE are both at 17.5cents...
anyone want a race to 40cents for a beer?
I'll back CUE...
:cool:
.^sc

New market derivatives?:)

[Crypto Crude]

I'll give it up to VPE...
its got some pretty meaty names of wells...
Growler...
Warhawk....
....
Heres a few winners I can think of....
Savage
Big cat
cash money- A and B sands...
$dollar signs$, Drill number one two and three...(the money maker)... haha...
>gusher<
bonanza
....

anyway, im just laxing out, thinking to myself on this boring market day......
Im Ready to rumble, and now waiting on that beer...
any other takers?
:cool:
.^sc

[Financially dependant]

I'll give it up to VPE...
its got some pretty meaty names of wells...
Growler...
Warhawk....
....
Heres a few winners I can think of....
Savage
Big cat
cash money- A and B sands...
$dollar signs$, Drill number one two and three...(the money maker)... haha...
>gusher<
bonanza
....

anyway, im just laxing out, thinking to myself on this boring market day......
Im Ready to rumble, and now waiting on that beer...
any other takers?
:cool:
.^sc

Yes indeed I am a taker, I will have a beer on VPE!

It's a win-win for me very happy to 40c for either:)

[STRAT]

Hey Look...
CUE and VPE are both at 17.5cents...
anyone want a race to 40cents for a beer?
I'll back CUE...
:cool:
.^scIn the short term how about first to 15c :eek:

I will put a beer on CUE getting there first :D

[Jess9]

I've had enough bear for now and am watching from a safe distance!

[Crypto Crude]

Ok Strat,
you are on... If CUE hits 15cents, then I will buy you a beer...
If it does not hit 15cents... then you owe me two beers...
One for me, and the other for mackdunk...
;)
.^sc

[duncan macgregor]

Ok Strat,
you are on... If CUE hits 15cents, then I will buy you a beer...
If it does not hit 15cents... then you owe me two beers...
One for me, and the other for mackdunk...
;)
.^sc C-MON you two the only person that deserves a beer is poor old Macdunk. I have been nagging you two all this year to get out the bloody market, now you are gambling on which one of your companies drop the most. I will be at the Auckland get together so get those whiskies lined up. Macdunk

[STRAT]

Geez you two can bend absolutely anything out of shape. Its no wonder you never agree on anything.

Note to self : never volunteer to be a ref in anything involving shrewdy or Macdunk :p

To be fair the bet was if VPE gets to 15c before CUE I owe you a beer
If VPE gets to 15c before CUE you owe me a beer

So if neither get to 15c all bets are off cause it was a race to 15c not a bet on whether CUE would drop that far or not.
Anyway Id be delighted to buy you both a beer/scotch what ever either way.:D

[bermuda]

nice one Jess:)


You guys are missing the story.

We are talking about a fairway of oil.

[STRAT]

You guys are missing the story.

We are talking about a fairway of oil.Hell no Bermuda. VPE is one of the few things I have hung on to over the last few months.

Hey Shrewdy VPE took an early lead over CUE on the way to 40c today :p

[bermuda]

yup, its a good race

and im in all 3

PPP, VPE and CUE



thats my 3 oilers and happy with all around 20.



lets see who wins by xmas.:confused:

A beautiful portfolio.

[bermuda]

this Carbon Credit exemption not including LNG has definitely had some effect

we must look at ALL the risks, including carbon trading and water as well as all the blue sky this sector holds over the coming certification period for many of them targeting big upgrades


just be mindful, there are risks and WOODSIDEs CEO comments must be researched...no one has really had a good comeback to his comments - CSG is a poor gas for LNG conversion.

oh, apart from hey, must be ok, all the big boys are putting money into it, but arent Woodside big boys in Gas? no 2 in aussie anyway.

Hi Underdog,

Woodside were a close runner up. For the LNG terminal. BG won it with CSG.

But BG ain't got their gas yet.

Some big plays coming up.

[bermuda]

Hi Bermuda I must confess it was your research, enthusiasim and connections that kept me holding during the retrace and which made me put VPE into my investment account rather than into my trading account. Hope QGC dont cause us any disappointment.

Looking for another entry point in BOW :D

I must admit my pulse race has quickened.

Just a few days to go.

I really have good things about this although it is about 8.5 km to the north.

[ronthepom]

I must admit my pulse race has quickened.

Just a few days to go.

I really have good things about this although it is about 8.5 km to the north.

Hi Bermuda, vpe ann , and the sp drops TO 19C. Dont get it!

[bermuda]

Hi Bermuda, vpe ann , and the sp drops TO 19C. Dont get it!

Ron,

Dont worry, it has quickly gone to 22 cents and once the market starts to realise that VPE are going to make about $20 million per annum from this ONE well alone then we are in for quite a re rating.

This is what oilers look for...OIL

Very very good news

[The Big Ease]

BOO 2000
Price OO 100
Daily Volume 200000
Weekly Rev 1,400,000
Operating Weeks 40
Annual Rev 56,000,000
VPE Share @ %40 22,400,000
Operating Margin %60 13,440,000


have i got that right? geeez thats a nice "little well".
how many more of these beauties are they going to dig up?

[Financially dependant]

Growler-3 flows 2040 bpd on production test!!!! The news just keeps getting better.


http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=168406

[bermuda]

BOO 2000
Price OO 100
Daily Volume 200000
Weekly Rev 1,400,000
Operating Weeks 40
Annual Rev 56,000,000
VPE Share @ %40 22,400,000
Operating Margin %60 13,440,000


have i got that right? geeez thats a nice "little well".
how many more of these beauties are they going to dig up?

Hi Big Ease,

Yes, you have it right. Going to be quite something eh? Plus, this is just the start of it.
And plenty more drills to come.

And.....They are talking about further drills into Growler and Wirriway. This is going to be a superb Christmas for holders.

And I havent even mentioned Warhawk,... it makes my heart skip a beat.

All those long suffering VPE shareholders are finally going to get their reward.....
And I havent mentioned the beautiful CSG plays either.

This is a good story....but as you know , I have been saying that for some time.

[bermuda]

Hi shephejame,
Yes the announcements are a little confusing. I think this Growler field will in time produce in excess of 2000 bpd but in the meantime Management are putting a very conservative twist on it.

I have plenty of options too. And why not ? The Head share is going to climb significantly. Dont forget VPE has some very gassy coals and they have very strong connections with QGC.

[Corporate]

I don't understand the two announcements. Can someone explain why one states 1000 BOE and the other over 2000BOE?

[Corporate]

also glad to be holding some vpeo...ever though at a average of 10c

[Financially dependant]

I don't understand the two announcements. Can someone explain why one states 1000 BOE and the other over 2000BOE?

from the top of my head 2000 bpd on test but chocked back to 1000 bpd for production.

[bermuda]

from the top of my head 2000 bpd on test but chocked back to 1000 bpd for production.

Thanks FD,
That makes sense.....and you can get a lot more oil from a field over the long term by taking it easy.

[Corporate]

BOO 2000
Price OO 100
Daily Volume 200000
Weekly Rev 1,400,000
Operating Weeks 40
Annual Rev 56,000,000
VPE Share @ %40 22,400,000
Operating Margin %60 13,440,000


have i got that right? geeez thats a nice "little well".
how many more of these beauties are they going to dig up?

On the basis of the post above. This calc is incorrect. Looking at more like $7Million

[Financially dependant]

On the basis of the post above. This calc is incorrect. Looking at more like $7Million

No I think the calc's are about right, Growler-3 is over 1000 bpd alone and G1, G2 & G4 should make up another 1000 bpd! They are drilling Growler-5 at the end of current drill schedule!!

[AMR]

Hi, how will the production profile look? Is it a long-lived well like BMG?

[bermuda]

Hi, how will the production profile look? Is it a long-lived well like BMG?

AMR,
A very good question and one that will be answered within the next few months. The size of this reservoir is getting bigger all the time. See page two of yesterdays announcement.

Things are looking good but I have had these hopes before and ended up in the rough.Let's hope we do have a Fairway.

[OutToLunch]

Ann just out from ITC re oil and gas shows in Warhawk-1. I don't fully understand the significant of the 'gas shows to C5' comment -- presume that means they've found methane, ethane, propane butane and pentane? If so, what's the significance of the longer chain hydrocarbons, do more complex hydrocarbons point to a 'better' resource than otherwise? Any petrochemists here?

[zorba]

OTL,

You are right, it means longer chain hydrocarbons, ie liquids as in hopefully oil, are present.

If only C1 or C2 hydrocarbons were observed then the gas shows might be just that: ie gas, and therefore not nearly as valuable as oil.

So heres hoping for oil flowing to the surface following open hole testing !!

Z

[bermuda]

OTL,

You are right, it means longer chain hydrocarbons, ie liquids as in hopefully oil, are present.

If only C1 or C2 hydrocarbons were observed then the gas shows might be just that: ie gas, and therefore not nearly as valuable as oil.

So heres hoping for oil flowing to the surface following open hole testing !!

Z

Hi Zorba, Where you been?

The second announcement relates to oil. Not those short little short chain gases. We are dealing in long chain petroleum. OIL. 9 metres of it. Not as much as at Growler 3 but it is still early days and the DST is yet to be completed..let alone the drill.

To me it is a positive result. Perhaps a sidehill lie in this Fairway. Got to be good for the whole area.

Well done VPE

I will go and get my suit dry cleaned. We could be off to the races!!!!!

[OutToLunch]

Thanks zorba and bermuda, it sounds quite promising then, pending logging results. Fingers crossed...

[zorba]

.
Hi Bermuda,

Have been sidestepped by various distractions.

Yes you are right C5 ie pentane is still a gas !

( Just did a quick look at the wiki on pentane: http://en.wikipedia.org/wiki/Pentane )

Am planning next month to head down to Wellington for the NZOG AGM, and also to the West Coast for the Pike River AGM .......

Any plans for you in that direction ?

In the meantime the announcements so far for Warhawk-1 are looking good for VPE, 9 metres of oil shows, lets hope the wire line logs and further testing deliver the goods.

Have taken a modest position in VPE !!

Z

[Financially dependant]

Thanks zorba and bermuda, it sounds quite promising then, pending logging results. Fingers crossed...

Yes indeed and there still remains the chance that Growler and Warhawk are connected to make one large oil field?? Cross everything:)

[OutToLunch]

Everything is crossed, alright. Have also just bagged a few more VPEO before the market wakes up to the significance of what VPE are uncovering with their drilling. Even if Warhawk doesn't come in, the Growler field alone is big stuff for VPE let alone Don Juan et al down the track. (Especially since it looks like the oil price could be starting to head back up again with the USD set to fall over).

[Huang Chung]

Yes indeed and there still remains the chance that Growler and Warhawk are connected to make one large oil field?? Cross everything:)

Bermuda has mentioned the same thing FD. Can anyone provide a link to where this fairway theory is discussed?

[The Big Ease]

Hi chungy,

i am sure there are more informed posters who can provide a better explanation, however, my understanding is that they are both within the same sand structure, which infers the possibility of them being joined.

I am pretty sure VPE have also mentioned the possibility in terms of an "oil fairway" in the area of both growler and warhawk. they may not be joined, but it sure looks like there is some oil in warhawk. if they are joined, well that will be juuust super.

[Huang Chung]

Hi chungy,

i am sure there are more informed posters who can provide a better explanation, however, my understanding is that they are both within the same sand structure, which infers the possibility of them being joined.

I am pretty sure VPE have also mentioned the possibility in terms of an "oil fairway" in the area of both growler and warhawk. they may not be joined, but it sure looks like there is some oil in warhawk. if they are joined, well that will be juuust super.

G'day TBE,

Yeah, curious more than anything....I think it was Innaminka who last talked about an oil fairway in the Cooper Basin, which I don't think came to anything.

Still, ya never know, do you?

[Financially dependant]

G'day TBE,

Yeah, curious more than anything....I think it was Innaminka who last talked about an oil fairway in the Cooper Basin, which I don't think came to anything.

Still, ya never know, do you?

Hi HC, here is some home work for you..

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=168060

page 30ish talk about Growler-Wirraway-Warhawk, Jurassic fairway and possible connection!!

[The Big Ease]

Commenting on the drilling results at Ascender-1, Victoria Petroleum NL’s Managing
Director John Kopcheff said:
“The absence of oil in the Ascender -1 well was unexpected and it would appear that the
more robust structures in the Western Margin Oil Project as drilled at the Wirraway and
Growler oil discoveries some 25 kilometres to the south in the adjacent southern permit
PEL 104 have the best chance of exploration success.”
“The robust Gannet structure, 6 kilometres to the southwest of Ascender-1, along with the
Warhawk structure remain valid drilling targets on the Jurassic oil fairway and are planned
to be drilled in the first half of 2008. The explorations success rate for the Jurassic oil
fairway after the drilling of Ascender-1 now stands at a high 75%.”
“This Jurassic oil fairway with its some 32 leads and prospects is interpreted to have a
potential oil in place resource of up to 100 million barrels of oil in place in the Birkhead
Formation, if oil is present. The recent Innamincka Oil exploration success at the Flax Oil
Field provides an example of the remaining oil potential to be drilled in the Cooper Basin”
VICTORIA PETROLEUM N.L. A.B.N 50 008 942 827
Incorporated in Western Australia
2
“Any producible oil discovered in the Gannet and Warhawk prospects would be tied into the
Growler Oil Field production facilities to the south.”
“Immediate activity in the Western Margin Oil Project will now focus on bringing the
Growler Oil Field into production, planned to start in December 2007 at an estimated rate of
around 300 barrels of oil per day”
“Work has also commenced on development drilling and planning of a potential 3D seismic
survey to further delineate the potential high side resource of up to 33 million barrels of oil
in place should the Growler and Wirraway oil fields be connected as interpreted from the
existing seismic.”

http://http://www.vicpet.com.au/Reports/download/Ascender-1_02102007.pdf

[Huang Chung]

Cheers TBE and FD

FD, that file was 19mb, and I'm still on dial up....they would have pumped the field dry by the time I downloaded the file :D.

[The Big Ease]

I will go and get my suit dry cleaned. We could be off to the races!!!!!


just out of curiosity Mr B, how many bags do you think you will need to go to the races? at a rough guess, i can count 4-5 from here on.

[bermuda]

just out of curiosity Mr B, how many bags do you think you will need to go to the races? at a rough guess, i can count 4-5 from here on.

Hi Big Ease,
I am waiting for the drill stem results first.

I have dreamt these dreams before and come up short. But there is a lot more to this one and the recent results are so encouraging and point to a much larger recoverable resource than previously thought. There are plans to drill more wells into Growler and Wirriway .....let alone Warhawk.

This is very exciting. Have a look at all the leads in one of the latest presentations.

There are a lot of doubters out there and a lot of disallusioned shareholders. And bearing in mind the previous history of capital raisings I can understand that. This company reminds me so much of NZO when it was 26 cents. Everyone hated it. These are the companies you need to latch on to. Not the one's that are flavour of the moment.

I have read the VPE 2008/9 Plan backwards and it has always looked good to me. In fact it was so good that I sold out of NZO ( well almost ) about a year ago to get on board. I now hold 2.6 million so you can see I have more than a passing interest.

These things aren't easy. There has been a lot of work put into this.

The suit is being dry cleaned . I wont put it on until JK tells me we have an oil fairway.

Then we will be off to the races. You have got to have a dream eh?

And I havent even mentioned their beautiful CSG.

[bermuda]

Cheers TBE and FD

FD, that file was 19mb, and I'm still on dial up....they would have pumped the field dry by the time I downloaded the file :D.

HC,
Are you still on holiday? ( i.e. on dial up ) You just gotta get yourself on a decent computer system.

In today's turmoil you owe it to yourself.
Cheers

[airedale]

Hi Bermuda, The chart looked encouraging so I bought another 50,000 @ .225 yesterday. I also replaced my 6 year old computer last week. It was half the price of the old slow one, and twice as powerful.

[Financially dependant]

Hi Bermuda, The chart looked encouraging so I bought another 50,000 @ .225 yesterday. I also replaced my 6 year old computer last week. It was half the price of the old slow one, and twice as powerful.

Hi airedale, good to see you topping up on your VPE, should really take off from here. Both TA & FA looking good, just need to get above this area of resistance (22-23c) to really get moving. On the FA front the first page of RPM annual report stated if Tigershark comes in it will prove that this fairway is one big oil field.

Good luck

[The Big Ease]

take a look at some of this:
http://http://www.aussieoil.com/site/Drilling%20reports.htm

it is all about PEL 112 which makes reference to tirrawarra oil field next door to VPE's PEL111. So whilst this oil fairway is a best possible scenario, the area has already produced a similar find.

Substantial volumes of oil and gas were discovered in the Permian sandstone reservoirs at Tirrawarra in 1970, which was at that time in a very remote location.

The Tirrawarra Oil Field has already produced approximately $US814,000,000 worth of oil, gas and associated hydrocarbons with estimated remaining reserves of 70,000,000 barrels of oil and 350 Billion cubic feet of gas.

The nearest oil field to ACOR's PEL 112 on the northeast is the Tantana Oil Field, which has averaged 937,500 bbls of oil per well or $68,000,000 per well at current oil prices and is located approx. 13 miles NE of ACOR's PEL 112. The Seismic line 84-XAB shows a possible look-alike structure on ACOR's PEL 112 similar to the Tanatana Oil Field. One of the two wells will target that look-a-like structure.

The current production on the adjoining area to the north of ACOR's PEL 112 is averaging a reported $33,000,000 a year. The current production on the adjoining area to the east of ACOR's PEL 112 is averaging a reported $75,000,000 a year.

Look below at the Giant Discoveries that adjoins PEL 112!!!

All the wells mentioned below adjoin ACOR's working interest PEL 112 to the north and to the east and have been recently drilled and completed as successful wells.

Silver Sands-1 well came in with an initial potential of 1062 BOPD

Christies-1 well came in with an initial potential of 500 BOPD

Christies-2 well came in with an initial potential of 1960 BOPD

Christies-3 well came in with an initial potential of 2400 BOPD

Christies-4 well came in with an initial potential of 653 BOPD

Christies-5 well came in with an initial potential of 403 BOPD

Sellicks-1 well came in with an initial potential of 1780 BOPD

Sellicks-2 well came in with an initial potential of 2700 BOPD

Sellicks-3 well came in with an initial potential of 1365 BOPD

Worrior-1 well came in with an initial potential of 2800 BOPD

Worrior-2 well came in with an initial potential of 2000 BOPD

Worrior-3 well came in with an initial potential of 276 BOPD

Worrior-4 well came in with an initial potential of 1660 BOPD

[Financially dependant]

Ann out, latest information on Warhawk... it has a BUT in it..

http://stocknessmonster.com/news-item?S=ITC&E=ASX&N=422112

[bermuda]

Ann out, latest information on Warhawk... it has a BUT in it..

http://stocknessmonster.com/news-item?S=ITC&E=ASX&N=422112

Yes, BUT there is oil there which is encouraging. You dont always hit the sweet spot first time up. Growler is testament to that. Will have to await further testing over the weekend.

[jdg]

i wonder if we'll get warhawk news on opening? VPE's had great run with the drill bit, it would be very nice to see that continue with the warhawk reservoir developed well enough to produce oil.

-j

[bermuda]

i wonder if we'll get warhawk news on opening? VPE's had great run with the drill bit, it would be very nice to see that continue with the warhawk reservoir developed well enough to produce oil.

-j

Yes, I am hoping for a positive twist on a drill which has found oil. The oil is there,,now they have to find the 'flow' channel.

[Squid]

Hi all,

Im a small holder of VPE and was lookin to get into the options but struggling to find any info on them. All I managed to find was they are due on 31st Jan 2010, can anyone enlighten me on price etc?

Cheers:)

[bermuda]

Hi all,

Im a small holder of VPE and was lookin to get into the options but struggling to find any info on them. All I managed to find was they are due on 31st Jan 2010, can anyone enlighten me on price etc?

Cheers:)

Hi Squid,
they are exercisable at 25 cents on 31 January 2010.

By then several CSG permits will be certified, the oil from Growler etc will be pouring real dollars into the company and QGC will have made a bid. And who knows we might have found an oil fairway. Far out.

That is why Ihave 1 million of the Heads and 1.6 million of the options.

[Squid]

Cheers Bermuda

Yes things are looking really promising, fingers crossed anyway!

:)

[jdg]

well, that news was about as good as we could have expected with the big BUT is the last anouncment. warhawk is going to be a producer - not an earth shatterer, by the looks, but we'll pull oil from it. good news.

[jdg]

now bring on tigershark...

[Financially dependant]

well, that news was about as good as we could have expected with the big BUT is the last anouncment. warhawk is going to be a producer - not an earth shatterer, by the looks, but we'll pull oil from it. good news.

Yes this is great news, the story of a whole fairway of oil is maintained:).

These have got to be some of the cheapest barrels of oil going to market, every hole is producing (and quickly), G3 must have been a record?? The balance sheet will look very healthy in just weeks!!

Now we just need the share price to play it's part.

[jdg]

yip, the sp sure doesn't like moving up. but perhaps when it does it will so so in a hurry. maybe CSG certification will be the trigger. even with these finds, that's perhaps where the market is looking.

-j

[shasta]

yip, the sp sure doesn't like moving up. but perhaps when it does it will so so in a hurry. maybe CSG certification will be the trigger. even with these finds, that's perhaps where the market is looking.

-j

VPE - Warhawk Update

http://www.stocknessmonster.com/news-item?S=ITC&E=ASX&N=422544

[Financially dependant]

yip, the sp sure doesn't like moving up. but perhaps when it does it will so so in a hurry. maybe CSG certification will be the trigger. even with these finds, that's perhaps where the market is looking.

-j

I would like to see a bit more price movement before CSG cert and I think there will be. There seems to be a lot of resistance at 23c if there sp can get above that we might see a few traders come in and move the price up to a new level. The cert news might be a while yet so hoping VPE announce/press release a big oil find in this fairway.

[ronthepom]

Hi Squid,
they are exercisable at 25 cents on 31 January 2010.

By then several CSG permits will be certified, the oil from Growler etc will be pouring real dollars into the company and QGC will have made a bid. And who knows we might have found an oil fairway. Far out.

That is why Ihave 1 million of the Heads and 1.6 million of the options.

Hi Bermuda.

is that you just bought 50MILLION VPE lol !!!!

[Financially dependant]

Hi Bermuda.

is that you just bought 50MILLION VPE lol !!!!

I just hope QGC didn't buy out ODN's share, that would be bad news??? (too early).

[tricha]

I just hope QGC didn't buy out ODN's share, that would be bad news??? (too early).

That would be it in a nut shell, ODN sold out.

[Mysterybox]

Literly did a double-take on that volume today..

[Corporate]

Wow i wonder if it was odn? surely there would have to be an annoucement?

[Corporate]

Monday

who else could it be??


Yeah it must be. What a shame if it is! Sold way to cheap! Maybe QGC are about to take them out for good.

[OutToLunch]

If ODN have sold their VPE to QGC then presumably that triggers a takeover offer from QGC for the rest of VPE? I agree that this could be bad for VPE holders, esp those of us holding options, depending on what offer, if any, come from QGC. Geez I just recently has SXPO pulled out from under me, not VPEO now too?

[Corporate]

If ODN have sold their VPE to QGC then presumably that triggers a takeover offer from QGC for the rest of VPE? I agree that this could be bad for VPE holders, esp those of us holding options, depending on what offer, if any, come from QGC. Geez I just recently has SXPO pulled out from under me, not VPEO now too?



What happened with SXPO? I won't be happy if i get office squat for my VPEO

[Corporate]

Bermuda - youve got a sizeable stake in VPE. What are you thoughts, is this the beggining of the end for VPE as we currently no it?

[Dr_Who]

Where's the announcement? I cant find it!!

[shasta]

Where's the announcement? I cant find it!!

Dr Who

http://www.stocknessmonster.com/stock-trades?S=VPE&E=ASX

Click onto trades for the day, 1 large cross can only be ODN

Here's the VPE top 20

http://www.vicpet.com.au/Corporate/shares.asp

[bermuda]

Bermuda - youve got a sizeable stake in VPE. What are you thoughts, is this the beggining of the end for VPE as we currently no it?

I have been in Mooloolaba for a week so not really up with this. My thoughts are that ODN have sold out to a friendly party which will be very good for VPE. But I am only guessing and havent seen the share transfer. I dont think it will be QGC.

I am sleeping soundly. VPE has got itself into a wonderful position, has cash in the bank and a huge rerating coming up from Growler. Just the sort of thing you need in a bear market. Self sufficiency. All positives going forward.

If only those two dipsticks Greenspan and Bush hadnt wrecked the global market.He will go down as the most pathetic President of all time...and one that worked outside his terms of reference.

[Corporate]

I have been in Mooloolaba for a week so not really up with this. My thoughts are that ODN have sold out to a friendly party which will be very good for VPE. But I am only guessing and havent seen the share transfer. I dont think it will be QGC.

I am sleeping soundly. VPE has got itself into a wonderful position, has cash in the bank and a huge rerating coming up from Growler. Just the sort of thing you need in a bear market. Self sufficiency. All positives going forward.

If only those two dipsticks Greenspan and Bush hadnt wrecked the global market.He will go down as the most pathetic President of all time...and one that worked outside his terms of reference.


Thanks for your thoughts Bermuda. Another friendly party...why do you think that instead of QGC?

Cheers

[OutToLunch]

What happened with SXPO? I won't be happy if i get office squat for my VPEO

SXP/SXPO got taken over recently by LNC for well below what we shareholders believed was their long term value, and the SXP board rolled over and accepted the offer without any resistance whatsoever. Guess I shouldn't complain as I sold my SXPO soon after for quite a bit more than what I paid for them but SXPO holders were certainly shafted given the potential value of SXP and the long-dated nature of the options (expiry in 2012).

It'll be interesting to find out who bought that VPE stake... if it was QGC, I smell another opportunistic takeover brewing and VPE/VPEO holders might be asked to bend over with a smile -- if it's not QGC, then perhaps a takeover battle between QGC and the buyer might ensue instead (= much better for us).

[Dr_Who]

Still waiting for an announcement. :mad:

[AMR]

Still waiting for an announcement. :mad:

No news is good news Dr. It means it was more likely simply a reshuffle.

[shasta]

No news is good news Dr. It means it was more likely simply a reshuffle.

VPE - Start of drilling at Tigercat

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168700

[Serpie]

My thoughts are that ODN have sold out to a friendly party which will be very good for VPE. But I am only guessing and havent seen the share transfer. I dont think it will be QGC.

SSH out.
Spot on Super B. Who the hell is Sentient Executive GPIII Ltd?

[OutToLunch]

Looks like a Canadian resources fund?

Edit: Someone on HC says they're based in the Caymans Islands. Still none the wiser really.

[Financially dependant]

That's good news, Cayman islands?? time for a site visit!!

[Financially dependant]

Proud new owners of 15% of VPE

http://www.thesentientgroup.com/index.html

[bermuda]

Proud new owners of 15% of VPE

http://www.thesentientgroup.com/index.html

They may be a QGC plant but methinks Cottee doesnt think like this. This is very good news.

I think they are a group of well informed guys operating out of the Cayman Islandswho have seen an outstanding buy.

[The Big Ease]

apart from being illegal, it would also be highly unlikely for them to be a qgc conduit.
it would be silly to put your own capital at risk like that.

[AMR]

They seem to have a very good record these guys. They are QGC shareholders as well, entered 2004.

[OutToLunch]

They may be a QGC plant but methinks Cottee doesnt think like this. This is very good news.

I think they are a group of well informed guys operating out of the Cayman Islandswho have seen an outstanding buy.

But note that one of Sentient's partners, Peter Cassidy, is also a director of QGC.... bermuda you might be on the button re. Sentient being a QGC plant....

[Financially dependant]

But note that one of Sentient's partners, Peter Cassidy, is also a director of QGC.... bermuda you might be on the button re. Sentient being a QGC plant....

Being an optimist I think this is a positive move for share holders, QGC was always going to buy out VPE or VPE's gas assets! There track record of low ball offers was a worry and ODN was vulnerable. With Sentient taking ODN's place we are in a stronger position because they are just share holders like us and just want better leaverage in QGC just like us?

[bermuda]

Being an optimist I think this is a positive move for share holders, QGC was always going to buy out VPE or VPE's gas assets! There track record of low ball offers was a worry and ODN was vulnerable. With Sentient taking ODN's place we are in a stronger position because they are just share holders like us and just want better leaverage in QGC just like us?


FD, This is fantastic news. And it has nothing to do with QGC. Here we have a very professional group investing in a company that is so undervalued it isnt funny. Odin needed out and these guys have patiently waited for this opportunity. I have been right through the website and we now have on board an even better shareholder than Odin ( for repulsing any smart offer from QGC I mean ).

These guys know what is coming up for VPE. I do. And so will an increasing number of investors. These guys prey on situations like this and good on them for recognising it.

Believe me this is extremely good news for VPE....this company is starting to Growl. Thank goodness we are cashed up, are cash flow positive and are sitting on some of the best CSG and oil assets in Queensland. Just a pity that those two dipsticks Greenspan and Bush stuffed up the world.

Welcome aboard. This is good news.

Indeed, Fantastic news.

[OutToLunch]

Wish I could be that optimistic, but the cautious side of me still feels that with Sentient having a partner sitting on the QGC board as well there's more to this development than meets the eye. Time will tell...

[Dr_Who]

I cant believe ODN sold VPE at a discount. What a bunch of idiots running ODN. I think QGC has VPE wrapped up nicely. They dont even need a full T/O to control the board. It would have been better for shareholders if maybe QGC did a full T/O offer instead?

[bermuda]

I cant believe ODN sold VPE at a discount. What a bunch of idiots running ODN. I think QGC has VPE wrapped up nicely. They dont even need a full T/O to control the board. It would have been better for shareholders if maybe QGC did a full T/O offer instead?

QGC through its shareholding in VPE have ensured that it will get its fair share of VPE's CSG spoils which it needs to feed its LNG project with BG. I wouldnt go so far to say they have VPE 'wrapped up nicely'. Far from it. They will have to pay market price for any takeover.

And of course, a QGC takeover for VPE will happen but the new guys will ensure they get top dollar.imho.

I believe Sentient is a professional Global Investment Group that invests in undervalued companies that have secure cashflow and big potential. And VPE has that in Spades. This is not some sort of corporate play to help QGC. This is a straight out investment opportunity for their group. And good on them. They have chosen well.

[boxing_beaver]

any thoughts on the sell-off today? moderate volumes...

[bermuda]

any thoughts on the sell-off today? moderate volumes...

Got me beat. The Growler news was pretty good. Heading for 1000 barrels per day and although oil price is falling so is the $A. I think it is market jitters and old memories of VPE.

Let's see what Tigercat brings. Hopefully the seismic will do the trick but it is 8 km from Growler.

[bermuda]

Got me beat. The Growler news was pretty good. Heading for 1000 barrels per day and although oil price is falling so is the $A. I think it is market jitters and old memories of VPE.

Let's see what Tigercat brings. Hopefully the seismic will do the trick but it is 8 km from Growler.

Trading halt and I dont think it is to do with drilling.

[Corporate]

Trading halt and I dont think it is to do with drilling.

whats ya hunch bermuda?

[Financially dependant]

If nothing else it is a good day to be in trading halt!:)

I am betting a take over offer is a foot:mad:

A independent valuation like SHG would be best outcome.

[bermuda]

whats ya hunch bermuda?

You wouldnt believe what I am thinking!!! I reckon a merger is on the cards. Bit left field . Sure hope it aint anything from QGC.

Could be a sell off of USA assets but that doesnt really constitute a trading halt.

Who knows? Anyone?

[CAM]

If nothing else it is a good day to be in trading halt!:)



haha...that was what I was going to suggest....
"hey guys lets request to put the shares in a trading halt...that will stop the price sliding for a few days"

I am surprised many others aren't doing it!!!!:D

[Tok3n]

Can't be a cert ann

BOW isn't in a halt.

A 2 year halt while they get their work done should be good :).

[trackers]

Very interesting, hopefully good news and not some lowball takeover offer

[seaosh]

I'm picking a lowball takeover offer.

[temptation]

Linc also in a halt. Linc have taken out SXP, but received a lot of cash for selling coal reserves to China.

[Tok3n]

It'll be completely unrelated to LNC

Its probably some low ball takeover for 20c

[Dr_Who]

Funny how the sp drops follow by a trading halt. Either it is nothing or someone in the background is pushing the price down to get VPE cheap. :confused:

[Xerof]

Perhaps the Trojan Horse that entered the arena a few days ago is about to open it's trapdoor?

;););)

[bermuda]

It'll be completely unrelated to LNC

Its probably some low ball takeover for 20c

I wish it was related to LNC. The more I think about it the more it has possibilities.LNC will need a bit of cashflow ( which VPE can now provide from Growler ) to develop SXP and if their UCG is successful then there is 8 times the energy in UCG than CSG.

But alas I think I am dreaming. It is unlike JK not to return my calls. Could be a number of things....but please , not a takeover offer from QGC. Please.

Wonder why LNC went into a trading halt within 30 minutes of VPE's notice?

[AMR]

It would be excellent to have LNC make a takeover...take a look at their share price, their recent sale of tenements to the Chinese, and work out where their cash backing per share is. V. little downside unless the deal falls over like Nexus.

[temptation]

Not sure that LNC need the liquidity if the sale of the "Teresa" Coal permits to Xinwen is going ahead for AU$1.5 billion.

[Crypto Crude]

Takeover anyone?
:cool:
.^sc

[Mysterybox]

Lets see a decent price please >.>''

[OutToLunch]

LNC's trading halt is related to their Chinchilla demo plant as per their announcement, so nothing to do with VPE. This surely has to be an opportunistic offer by QGC, helped along by (what I suspect is) their sneaky move through Sentient. Bugger. :mad:

[STRAT]

Lets see a decent price please >.>''If it is QGC you can bet this is not
coincidental timing and an offer if it comes will be sure to offend

[bermuda]

LNC's trading halt is related to their Chinchilla demo plant as per their announcement, so nothing to do with VPE. This surely has to be an opportunistic offer by QGC, helped along by (what I suspect is) their sneaky move through Sentient. Bugger. :mad:

Yes, starting to look this way but if it is a QGC offer, let us insist they get a Grant Samuels valuation.

[STRAT]

Yes, starting to look this way but if it is a QGC offer, let us insist they get a Grant Samuels valuation.Hi Bermuda,
Which asset do you think they will be selling off?

[bermuda]

Hi Bermuda,
Which asset do you think they will be selling off?

Hi Strat, Could be

1. West Australian Assets.
2. American assets eg. sale to ADE who are also in a trading halt.
3.Perhaps they have sold their PL171 20% CSG rights to QGC in return for RPM's 20% interest in Growler. This would give VPE 60% of Growler which is shaping up to be more than useful. Against that logic is JK's love of PL171's CSG potential.

This last guess doesnt make much medium term logic as QGC will make a play for VPE and get it all back.

I do know this though. The Board of VPE are determined to focus on two areas only.....CSG and the Fairway to Heaven. All the rest get sold.

[The Big Ease]

i hope the last line of your post is true B.
thats all im interested in to be honest.

[STRAT]

Hi Strat, Could be

1. West Australian Assets.
2. American assets eg. sale to ADE who are also in a trading halt.
3.Perhaps they have sold their PL171 20% CSG rights to QGC in return for RPM's 20% interest in Growler. This would give VPE 60% of Growler which is shaping up to be more than useful. Against that logic is JK's love of PL171's CSG potential.

This last guess doesnt make much medium term logic as QGC will make a play for VPE and get it all back.

I do know this though. The Board of VPE are determined to focus on two areas only.....CSG and the Fairway to Heaven. All the rest get sold.Thanks Bermuda.
If PL171 and the possible oil fairway are their primary focus then other assets seem the logical choice but worthy of a trading halt?

Anyway hope so. Id be gutted if they went the way of RPM at this time. In fact timing couldnt be worse which is why I have a niggling feeling it might be QGC. From their point of view this would have to be a significantly less speculative purchase and much more difficult to sweep up on the cheap I would have thought which would be a really good reason for QGC to strike now.

[ronthepom]

Thanks Bermuda.
If PL171 and the possible oil fairway are their primary focus then other assets seem the logical choice but worthy of a trading halt?

Anyway hope so. Id be gutted if they went the way of RPM at this time. In fact timing couldnt be worse which is why I have a niggling feeling it might be QGC. From their point of view this would have to be a significantly less speculative purchase and much more difficult to sweep up on the cheap I would have thought which would be a really good reason for QGC to strike now.

Looks like american assets according to ann.

[STRAT]

Looks like american assets according to ann.
Yeah Ron,
Thats a relief

[Financially dependant]

Yeah Ron,
Thats a relief

Yes I would go along with that!

More oil in B's "fairway to heaven"

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=168828

[Tok3n]

What's the odds if they keep prodding in this area, they'll hit an elephant well?

Out of the partners

RPM, VPE and ITC

won't ITC be the most leveraged to this field?

[Financially dependant]

What's the odds if they keep prodding in this area, they'll hit an elephant well?

Out of the partners

RPM, VPE and ITC

won't ITC be the most leveraged to this field?

Yes I would have thought ITC but VPEO is also worth looking at for leverage and with CSG to boot!

[bermuda]

What's the odds if they keep prodding in this area, they'll hit an elephant well?

Out of the partners

RPM, VPE and ITC

won't ITC be the most leveraged to this field?

Both VPE and ITC stand out like beacons on a dark night. Huge potential which will become apparent before too long. In the meantime no one likes oil. But that will change. And when it does the sps will rise very sharply. Got 500k of ITC to get an added boost from this Fairway to Heaven.

[shasta]

Both VPE and ITC stand out like beacons on a dark night. Huge potential which will become apparent before too long. In the meantime no one likes oil. But that will change. And when it does the sps will rise very sharply. Got 500k of ITC to get an added boost from this Fairway to Heaven.

VPE - Oil shows in Tigercat-1

http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=168828

VPE looking better & better with its oil assets!

[The Big Ease]

Hi FD,
I did an exercise the other day and all the growler drills found oil at about 1700 metres depth. Plus about the same for Wirriway. The latest two are in better sands and gave really good results. I have been speaking to a few people in the know about Growler and the opinions are optimistic. Flow rates of course have to be proven. A couple of DST's dont neccessarily mean it can be maintained at this level.

There has been considerable work done in trying to prove up an oil fairway and so far so good. And for anyone holding RPM dont forget their 20% holding.

In the course of a year you probably get three or four exciting moments. Growler is one of these moments. There is talk to do a couple of extra Growler drills. And we still have Warhawk to look forward to,,,plus further drilling in this area.

VPE has a very good Plan and a lot going for it.

and another one at a similar depth:

Good oil shows were observed in the target Birkhead sandstone over a net 9 metre interval in the gross 19 metre interval from 1,750 metres - 1,769 metres

things are looking up. another couple of growler 3's would be nice!

[bermuda]

The Big Ease,
Hi there. The best thing about Tigerhawk is that it is 8 km to the east. We have a beautiful fairway of oil here. First Fairway of oil I have ever hit. Production from these wells wil be choked back to 1/3rd of maximum to preserve and optimise the fields. 1000 bbls per day easily achievable by end year. And obviously a lot more next year. Seriously good net revenue.Nice oil too commanding a small premium.

VPE is cashed up, has further excellent drill potential and some really good CSG to be certified. A safe secure and perfect mix...and a respected new shareholder that is in this for a while.Keep onside. Things are about to change.

[The Big Ease]

hi B.

what are the steps to proving the fairway.
so far it seems we are poking holes into the dirt and consistently hitting up oil.
what do we need to do in order to confirm the fairway and its reserves? is there a logical sequence of activities that need to be undertaken?

this is my first oil stock. i usually stick to industrials but its been a good learning experience thus far. im also liking your other baby BOW, but have decided to concentrate funds in VPE for now.

[trackers]

I'm back, surprised I managed to pick up a decent slab at 16.5c, I promised myself I'd stay out of the market for a while... But couldnt resist

[upside_umop]

If you read properly, that doesnt include the new discoveries from this 2008 drilling program.

You will also notice that is revenue NET of production costs.

[upside_umop]

the fact you asked 'is that it' (like im sure many girls have said) implied you thought that was the total forecast revenue.

you were never specific in your question, so next time, ask and maybe you will get the right answer.

[bermuda]

typical young buck

doesnt listen (or read properly) and now wants a richard cranium contest

do you understand "fresher numbers"? after the question "anyone got"


poor MOP
doh:D

Hey guys,
Have a read of the first couple of pages of the Annual Report. This has been written by Patten. Compelling reading.

[upside_umop]

do you understand "fresher numbers"? after the question "anyone got"



so you werent meaning the drop in oil price initially. you have very poor communication skills...

looks good bermuda...but i suspect still wont turn a profit this year. management like their cut huh? maybe time for some bow.

[Serpie]

Nice to see Tigercat being completed as a producer Super B.

I slipped into ITC earlier this week for some exposure to the Fairway to Heaven.
The rig now moves to Tigershark to see if the fairway extends further to the west.

I was trying to work out where No 4 (Stormbird) was but it looks like they've re-named Meteor.

[bermuda]

what?

youve gone mad mop

Hi Upside,
Wait until oil bottoms and then swoop on VPE. We are cashed up, have strong ties with QGC/BG, increasing profitable cashflow ( even at $US65 for oil ), and a beautiful Cooper Basin oil fairway. Plus a 15% share of the Cuisinier field with Santos and Bow. Plus of course some very good CSG certification projects.

Tigercat to go on production. Even at 100 bbls per day that is worth another $1 million to VPE.

Just wait until oil bottoms...and we may not be there yet. Huge world slowdown coming up.
take care. Cheers

[trackers]

Good to see that Tigercat has been confirmed as a producer, they keep on delivering...Its nice.

Don't expect to see the market reacting to this much however

[The Big Ease]

what a difference two weeks makes. dammit! hehe
more good to come i hope.

[upside_umop]

what?

youve gone mad mop

Enough mate...like I said, you were a bit curly on what you were after. If you wanted research, you should have made it more specific, rather than 'fresher numbers...' Or you could have just done it yourself.
Next time you want to say something to me, make it worth while.

cheers.

Hey B,

yehaaa its looking good long term for VPE and I definitely agree its all about the 'swoop' at the right time. LNG prices will have taken a reasonable hit too...but it will be depended on more and more in the future.

Oil price still hasnt really changed much to the forecast given, which is a bonus. $100 us barrel when the AUD/USD was trading near 0.95 = ~$105 AUD. Now we've got $70 oil and we've got 0.67 AUD/USD which gives ~$103 AUD. Confidence is gone however.

[The Big Ease]

Hi Upside,
Wait until oil bottoms and then swoop on VPE. We are cashed up, have strong ties with QGC/BG, increasing profitable cashflow ( even at $US65 for oil ), and a beautiful Cooper Basin oil fairway. Plus a 15% share of the Cuisinier field with Santos and Bow. Plus of course some very good CSG certification projects.

Tigercat to go on production. Even at 100 bbls per day that is worth another $1 million to VPE.

Just wait until oil bottoms...and we may not be there yet. Huge world slowdown coming up.
take care. Cheers

hi B. i note that on a few threads and forums, you have commented that to your thinking, we have a cnfirmed fairway. why do you say that at this stage, before the company has moved to announce this?

this part of the world has proven to have a scattergram like series of pots full of oil. what makes you think that vpe's success to date confirms a continuous fairway? i still havent got my head around what they need to do to confirm this.

[bermuda]

hi B. i note that on a few threads and forums, you have commented that to your thinking, we have a cnfirmed fairway. why do you say that at this stage, before the company has moved to announce this?

this part of the world has proven to have a scattergram like series of pots full of oil. what makes you think that vpe's success to date confirms a continuous fairway? i still havent got my head around what they need to do to confirm this.

TBE,
A couple of months ago JK told me that if Warhawk found oil then 'we are off to the races'. Since then we have had successes at both Warhawk and Tigercat with oil being found at very similar depths to those at Growler. Following those successes I asked JK whether we are indeed off to the races. His reply was that we should really wait for the Tigershark drill but 'we are indeed all saddled up and in the stalls ready to go'.

And on page 1 ( see note below ) of the Roma Annual report, the very conservative Siller makes the comment

" It is of note that seismic data on the Hutton Sandstone horizon indicate the Tigershark Prospect and the Growler and Wirriway oilfields may all be part of one closed structure. The discovery of oil at Tigershark could open up the possibility of a single large oilfield which could cover up to 8,255 acres ( 33.4 sq. km. )

The exploration wells mentioned above are suitably located to receive oil migrating from the Permian source rocks of the Cooper Basin into the Birkhead Sandstone. This formation contains the oilfields in the area covered by the current drilling program."

And it is interesting to note that there is no page two. All of Roma's activities are summarised on just one page!

I believe that there is a Fairway to Heaven. But for prudence's sake I suppose we had better wait until Tigershark.

Hope this helps. It is sure looking good.

[Jess9]

Hi Bermuda. How is VPE placed to fund the remaining drilling and development/production facilities? I see ITC did a crash cap raising on Friday as ODN pulled out. I was wondering if the VPE selloff late last week was on anticipation of a similar (VPE) placement, or maybe it was just some VPE/ITC holders cashing out for more ITC placement shares etc. The parcels going through were quite large.

[shasta]

Hi Bermuda. How is VPE placed to fund the remaining drilling and development/production facilities? I see ITC did a crash cap raising on Friday as ODN pulled out. I was wondering if the VPE selloff late last week was on anticipation of a similar (VPE) placement, or maybe it was just some VPE/ITC holders cashing out for more ITC placement shares etc. The parcels going through were quite large.

Jess

VPE have funds from the QGC placement & the sale of there US based assets...

No worries with cash ;)

[Huang Chung]

hi B. i note that on a few threads and forums, you have commented that to your thinking, we have a cnfirmed fairway. why do you say that at this stage, before the company has moved to announce this?

this part of the world has proven to have a scattergram like series of pots full of oil. what makes you think that vpe's success to date confirms a continuous fairway? i still havent got my head around what they need to do to confirm this.

I seem to recall some Nexus announcements regarding their Crux testing were they said that one well was in 'pressure communication' with an earlier well...I guess this is what you are looking for in forthcoming VPE announcements Bermuda?

[Dr_Who]

Jess

VPE have funds from the QGC placement & the sale of there US based assets...

No worries with cash ;)

How much cash do they have left and what is the burn rate?

[shasta]

How much cash do they have left and what is the burn rate?

You'll need to wait & see the Sept quarterly re burn rate (remember they are producing & do have revenue coming in).

In the June presentation after the QGC placement, VPE had $A16.2m cash

Since then they have sold off there US based assets for $A3.3m.

VPE also has investments in SSN & GER.

[bermuda]

Hi Bermuda. How is VPE placed to fund the remaining drilling and development/production facilities? I see ITC did a crash cap raising on Friday as ODN pulled out. I was wondering if the VPE selloff late last week was on anticipation of a similar (VPE) placement, or maybe it was just some VPE/ITC holders cashing out for more ITC placement shares etc. The parcels going through were quite large.

Hi Jess,
I reckon VPE got hit like a lot of others due to the oil price falling. Have just spent the afternoon reading the AR in full and I am further impressed. $17 million in cash, net oil revenues which will top $10 million in 2009 and the sale of its USA assets will provide plenty of dosh for our activities. If you havent got time to read it in full, then please read the first two pages.

Sentient didnt invest in VPE for nothing. It is GROSSLY undervalued.

Hi HC,
Yes, this is the sort of thing they are looking for. This whole Jurassic Fairway could contain 100 million barrels. The more I look at VPE the more I like it. And the Sentient Group ( ex AMP investment specialists ) think so too.

Wait for the oil price to stabilise and then buy.

[The Big Ease]

TBE,
A couple of months ago JK told me that if Warhawk found oil then 'we are off to the races'. Since then we have had successes at both Warhawk and Tigercat with oil being found at very similar depths to those at Growler. Following those successes I asked JK whether we are indeed off to the races. His reply was that we should really wait for the Tigershark drill but 'we are indeed all saddled up and in the stalls ready to go'.

And on page 1 ( see note below ) of the Roma Annual report, the very conservative Siller makes the comment

" It is of note that seismic data on the Hutton Sandstone horizon indicate the Tigershark Prospect and the Growler and Wirriway oilfields may all be part of one closed structure. The discovery of oil at Tigershark could open up the possibility of a single large oilfield which could cover up to 8,255 acres ( 33.4 sq. km. )

The exploration wells mentioned above are suitably located to receive oil migrating from the Permian source rocks of the Cooper Basin into the Birkhead Sandstone. This formation contains the oilfields in the area covered by the current drilling program."

And it is interesting to note that there is no page two. All of Roma's activities are summarised on just one page!

I believe that there is a Fairway to Heaven. But for prudence's sake I suppose we had better wait until Tigershark.

Hope this helps. It is sure looking good.
thanks B.

wow! that really is significant.
im still waiting for that "eureka" moment though and it seems the market is too. still, the hurdles are falling one by one as the planets align themselves.

40% of 33million recoverable barrels of oil (@ 100AUD) is alot of money.

[Huang Chung]

Wait for the oil price to stabilise and then buy.

I think I'd also wait for confirmation through testing that it actually is an oil fairway.

[Dr_Who]

Why is VPE, BOW etc sp so weak?

[mark100]

Because we're in a bear market and the oil price has halved meaning spec oilers with no free cash flow will find it harder to raise capital.

I still like BOW at 20c for a small punt but the upside leverage in well capitalised stocks like WPL, STO, OSH, QGC and AOE is now sufficiently high that it's not worth punting large amounts on the specs

[Dr_Who]

Surely the likes of VPE and BOW is a T/O target at these prices?

[Mysterybox]

http://www.asx.com.au/asxpdf/20081022/pdf/31d1p2bk5zfxdv.pdf

[shasta]

http://www.asx.com.au/asxpdf/20081022/pdf/31d1p2bk5zfxdv.pdf

SSN strikes a GAS discovery in Texas

http://www.stocknessmonster.com/news-item?S=SSN&E=ASX&N=426106

VPE has a small stake in SSN

[bermuda]

SSN strikes a GAS discovery in Texas

http://www.stocknessmonster.com/news-item?S=SSN&E=ASX&N=426106

VPE has a small stake in SSN

Honestly think VPE is seriously undervalued so upped my holding to 1m heads, 2m options.

The BEAR doesnt understand. Sentient Group does.

[Dr_Who]

With oil and gas price dropping, will the high cost of CSG production costing more to produce than the sale price for international gas? A good example is in Iran it cost them average of $100bbl to produce their oil and crude price is now $70bbl, so the production cost is higher than the sale price.

[mark100]

With oil and gas price dropping, will the high cost of CSG production costing more to produce than the sale price for international gas? A good example is in Iran it cost them average of $100bbl to produce their oil and crude price is now $70bbl, so the production cost is higher than the sale price.

Dr Who you are showing yourself up to be an amateur thinking Iran cost of production is $100/barrel. Do you really think that up until early this year Iran didn't make any money from producing oil?

Iran's cost of producing oil is more like $20/barrel or lower at existing old fields. But the Iranian government needs $100/barrel to balance their budget because they spend so much money paying welfare and buying food for a population that breeds like rabbits.

And despite oil being under $70 it looks like BG Group is bidding for QGC. They obviously think there is still profit to be made from selling CSG

[ELYOB]

The Asian economies are going to counter peak oil prices post 2015 with gas condensate , and they are smart to see this . BG sees it to as well as Shell ...

The Australian Govt is blind to the future , atleast Australian "gas industry" are struggling to be ready in time . We have to be up there within 7 years and in a big way . Asian tigers pay big $$$$ for oil atm , and they are there ready with increasing demand to accomodate.

In Asia there are whole cities on Diesel generators ........gas is the alternative for their base load power .......

[Mysterybox]

...any thoughts on this?

[CAM]

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