VPE, Victoria Petroleum (Now SXY: Senex Energy) [Archive] - Page 5

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croesus

13-03-2009, 08:47 PM

newbie.. this is a wind up eh ? ... if it isnt.. and I say this in all sincerity.....do some research..or you will get munched....cheers Croesus

STRAT

13-03-2009, 08:57 PM

Hi all,

I'm new share holder of VPE. I bought it on 5 Jan 09..Am I eligible for the options? If so how do I apply for it? I'm based in auckland.

cheershi Newbie,
as stated above both the shares and options can be bought on market.

http://www.directbroking.co.nz/directtrade/dynamic/quote.aspx?qqeg=AU&qqsc=vpe

http://www.directbroking.co.nz/directtrade/dynamic/quote.aspx?qqeg=AU&qqsc=vpeo

I assume this is not a wind up on your part. Options carry a lot more risk than shares but this is not the thread for that. Dont be afraid to start threads to find answers.
Someone here will help you.

Oh and dont buy any options in anything till you know how fast they could loose your money for you :D

newbietrader

13-03-2009, 08:58 PM

thanks! then i will just hold shares

STRAT

13-03-2009, 09:06 PM

thanks! then i will just hold shareshttp://www.wnoall.com.au/options/introduction.asp

upside_umop

14-03-2009, 12:46 AM

Yeah, really helpful to newbie you guys were....Strat seemed to give the only decent reply.

Options are sometimes a little hard to get your head around, especially if your new to share investing.

Basically, an option is just that. The option (no obligation) to buy the underlying asset a predetermined price at some point in the future. This can be for many things, oil, gold, oil tankers (see the FPSO that Maari JV have the option to buy), shares, pretty much anything. You could set up an option to buy your neighbours house (if they were willing) for a certain price in the future.

VPE issued options a while back to raise capital in the future (expire sometime 2010, march i think...see I have done bugger all research on them!) These were issued on a ratio of shares you held at issue date. If you scan through some past announcements you will find the issue date, which unfortunately is a little bit before January 2009 :P Strike price is 25 cents, so if come expiry, the head shares are above 25 cents, then the options theoretically will be exercised.

Say VPE is 55 cents at expiry...the option price should trade close to 30 cents (Share price less strike price = 50 - 25 = 30 cents)

I'm sure you already know a bit of that, but there it is anyway..

STRAT

16-03-2009, 06:16 PM

Nice close today with new highs on VPE and VPEO :D

Dr_Who

16-03-2009, 06:39 PM

This is one amazing stock!!! WOW!

Congrads VPE shareholders.

STRAT

16-03-2009, 06:50 PM

This is one amazing stock!!! WOW!

Congrads VPE shareholders.Hi Doc. Steady as she goes eh but I have noticed there is always a big chunk for sale half a cent or so just above the trading range each day. I am wondering if someone is slowly releasing a big holding. Just a thought.

Paddie

16-03-2009, 07:05 PM

Hi Doc. Steady as she goes eh but I have noticed there is always a big chunk for sale half a cent or so just above the trading range each day. I am wondering if someone is slowly releasing a big holding. Just a thought.

Equally I noticed this morning that there was little depth for VPE, which strengthened during the day, and I was suprised to see 35c hit.

Certainly it is gaining momentum.

Paddie

Ish

16-03-2009, 08:15 PM

Equally I noticed this morning that there was little depth for VPE, which strengthened during the day, and I was suprised to see 35c hit.

Certainly it is gaining momentum.

Paddie

I wonder if some money is flowing from BOW to VPE now.

Bow down 3.5%
VPE up 6% today

Paddie

16-03-2009, 08:38 PM

Sold out of VPE totally today and took a good profit.

Will use some of the money to convert BOW.

Still hold VPEO.

Paddie

STRAT

16-03-2009, 08:52 PM

Sold out of VPE totally today and took a good profit.

PaddieAaah Paddie, so those big chunks just out of the trading range will be gone tomorrow unless of course its Bermuda selling. :D

Paddie

17-03-2009, 07:33 AM

Aaah Paddie, so those big chunks just out of the trading range will be gone tomorrow unless of course its Bermuda selling. :D

Speaking of Bermuda, he hasn't posted for a while.

He must be taking some time out.

Paddie

bermuda

17-03-2009, 09:37 AM

Speaking of Bermuda, he hasn't posted for a while.

He must be taking some time out.

Paddie

Been down to Arrowtown for the NZ Golf Open.

Why sell ???, when 41% of the Company is held by some very experienced investors, some of whom saw their QGC shares go from 25 cents to $5.75. These stories dont come around that often.

This will be a very different company in 6 months time.

Paddie

17-03-2009, 10:23 AM

Been down to Arrowtown for the NZ Golf Open.

Why sell ???, when 41% of the Company is held by some very experienced investors, some of whom saw their QGC shares go from 25 cents to $5.75. These stories dont come around that often.

This will be a very different company in 6 months time.

Hi Bermuda,

Why sell? I needed some cash, not because I don't believe in the story.

What I did was buy the same amount of options for the number of heads that I sold, and will bank the cash difference.

Regards
Paddie

bermuda

17-03-2009, 11:17 AM

Hi Bermuda,

Why sell? I needed some cash, not because I don't believe in the story.

What I did was buy the same amount of options for the number of heads that I sold, and will bank the cash difference.

Regards
Paddie

Hi Paddie,
Well done. A good strategy.
Cheers.

Paddie

17-03-2009, 02:06 PM

Some good volumes going through today and a nice little run.

Paddie

STRAT

17-03-2009, 05:10 PM

upside_umop

17-03-2009, 06:13 PM

you reckon strat? i think it might just be like ISH is thinking, or your thinking? hard to tell eh...

BOW does look relatively expensive compared to VPE now...

VPE has 20% of the CSG permit that QGC were so eager to get their hands on from ROMA. VPE also have oil upside, but a majority of that is cashflow negative! Only other downside is the greediness of the management, but I'm ok with that as long as I get an adequate return :)

bermuda

17-03-2009, 11:43 PM

Hi Bermuda,
With drilling of the Cooper Basin and the Surat Basin not happening till the 3rd quarter. What do you think is driving the SP?

Perhaps the Seismic Program on the Cooper Basin has already produced some significant results. If I was a betting man Id say we have an announcement coming our way

Hi Strat,
Good to meet you at the last meeting.

Hey , you could be right but to me this run is all about investors starting to realise this stock has CSG grunt. The doubters are gradually being replaced with those who think like the top 41% of the shareholding base. These guys invested in QGC at 25 cents and sold out at $5.75. They are looking to do the same sort of thing with VPE.

All any investor has to do is realise what the first 2 pages of the Annual Report mean.

Cheers.

PS you are so right about the oil program for VPE. A winner on its own.

STRAT

18-03-2009, 12:25 AM

Hi Strat,
Good to meet you at the last meeting.

Hey , you could be right but to me this run is all about investors starting to realise this stock has CSG grunt. The doubters are gradually being replaced with those who think like the top 41% of the shareholding base. These guys invested in QGC at 25 cents and sold out at $5.75. They are looking to do the same sort of thing with VPE.

All any investor has to do is realise what the first 2 pages of the Annual Report mean.

Cheers.

PS you are so right about the oil program for VPE. A winner on its own.I enjoyed meeting you too. Perhaps next time we can have a decent natter. Just got to stop Oiler hogging all your time :D

Ish

18-03-2009, 09:17 AM

I enjoyed meeting you too. Perhaps next time we can have a decent natter. Just got to stop Oiler hogging all your time :D

And my well intentioned fear mongering ;)

I look forward to the next meeting too.

STRAT

18-03-2009, 09:29 AM

And my well intentioned fear mongering ;)

I look forward to the next meeting too.

haha Presenting the facts and keeping everyone well informed could hardly be construde as fear mongering Ish but you sure gave a few attendees the blues :D.Dont think I will be down on the Mainland for the next one though.

MrDevine

18-03-2009, 09:51 AM

Upside, why is BOW looking relatively more expensive than VPE?

Don't look at the share price, look at the market cap, as of yesterday BOW was valued at $136m, while VPE is at $135m.

BOW has 180m shares vs VPE 370m shares. Obviously this will change once cap raising goes through, but I would say market now re rating both VPE and BOW.

Tempted to buy VPE, but still dubious about management (I know Bermuda). Happy to hold only BOW in CSG portfolio.

Mr. D

upside_umop

18-03-2009, 12:36 PM

For reasons above MR D.

In saying that, BOW do have extremely good permits, namely comet et al.

BOW also have mint management, something that is not at a premium with VPE (weren't in the past anyway). Going good now though.

I guess VPE is just slightly more diversified than BOW, and thats also reflected in the share price movements --> Not nearly as volatile.

What do you mean by share prices? Isn't a company with a share cheaper than the others make it a cheaper company? Joking...

STRAT

25-03-2009, 03:56 PM

OK, are we due a change in substantial holdings notice here or what? :D

STRAT

25-03-2009, 08:22 PM

Just read the takeover chatter on the AOE thread.

Heres a couple of speculative articles posted by Young Trader on Aussie Stock Forums.

Wheels & Deals
1:14 PM, 16 Mar 2009 Madeleine Heffernan
Broken Arrow

Arrow Energy has thrown in the towel in its battle for coal seam gas explorer Pure Energy, giving British giant BG Group a nice chunk of Queensland's coal seam gas assets for a hefty $1 billion price tag.

Arrow told the market on Monday that it would not proceed with compulsory acquisition of the remaining Pure shares.

Arrow's offer – $3 cash and 1.57 shares for every Pure Energy share – closed on March 13 at 7pm, with the Queensland energy group ending up with a 20.31 per cent stake in Pure, though it already owned 19.9 per cent through a pre-initial public offering investment.

Pure Energy had initially supported the Arrow takeover, but when BG came onto the scene – just months after being spurned by Origin Energy – a real takeover battle began, culminating in BG boosting its offer to $8 a share, or $8.25 per share, should it receive 90 per cent shareholder acceptance for its offer.

The decision by Pure directors and key shareholders Karl Meade and Tom Fontaine to sell into the BG offer didn't help Arrow's case, and when Arrow's major backer Royal Dutch Shell – an 11.2 per cent shareholder in Pure – announced it would accept BG's offer for its shares, Arrow's bid was severely dented, with Arrow either unwilling or unable to boost the cash component of its bid, and aware that a boosted scrip component would push down its own share price.

BG Group, the UK's third-largest natural gas company, has more than one-third of Pure, and it's now expected that Arrow will sell into the BG offer. BG's offer closes on March 23.

Pure is being advised by Russell Keating and Nick Bagot from Goldman Sachs JBWere and Neil Pathak from Freehills. BG is being advised by Gresham's David Feetham and Michael Ashforth with legal support provided by Braddon Jolley, Jaclyn Riley-Smith and Sandy Mak from Corrs Chambers Westgarth.

Arrow is being advised by Wilson HTM's Simon Keyser and John Humphrey from Mallesons Stephen Jaques.

It's worth noting that Arrow bought its Pure stake for less than 50 cents a share on average, so while it didn't walk away with the prize, it certainly will get a wad of cash.

So what's next for Arrow, having allowed its takeover offer to lapse? There's talk it will look to take over juniors such as Red Fork Energy, Westside, European Gas, Metgasco, Victoria Petroleum, Box Energy, Molopo, or Sydney Gas. There's also talk it may too become a target as international giants seek to boost their exposure to Australia's coal seam gas assets.

In any event, Arrow's keeping busy, with its international unit agreeing to buy 75.25 per cent of Far East Energy Corp's (FEEC) stake in the Qinnan coal seam methane venture in China.

Arrow also agreed to make a convertible note investment in FEEC, which if converted will make Arrow the largest shareholder with an 11.5 per cent stake, and includes warrants to increase its shareholding over time to 15 per cent.

Houston-based FEEC is one of the biggest coal-bed methane producers in China, and operator and foreign contractor to China United Coalbed Methane, whose interest in the Qinnan block will shortly be transferred to Petrochina. The Qinnan block is in the Qinshui basin of Shanxi Province.

Arrow said Qinnan block represented "one of the best prospects for near-term commercial coal bed methane production in China," and it is confident in targeting reserve certification within two years, with commercial development beginning shortly after that.

"We expect Qinnan to become a material project within the Arrow portfolio, capable of producing 15-20 petajoules per annum for at least 15 years," Arrow told the market.

Royal Dutch Shell, a 10 per cent shareholder in Arrow International, will have the right to farm-in for up to 50 per cent of Arrow's interest in the project within five years.

Wheels & Deals
4:53 PM, 12 Mar 2009 Michael Feller
A star spangled deal

Eastern Star Gas has raised $50 million through a placement to institutional investors, partially underwritten by Patersons Securities in Perth.

The company said it could not confirm the names of the investors at this stage, but that they included some “big American names”. Eastern Star began to trade on a US over-the-counter pink sheets exchange earlier this year (see Gas explorer thinks pink, January 13). San Francisco-based investment bank Merriman Curhan Ford arranged the listing on the PrimeQX exchange, which also trades American depository receipts in Linc Energy and White Energy.

"We are delighted with the support received from new and existing investors, particularly given the current economic environment," said Eastern Star managing director David Casey. "It is a show of confidence in ESG and the potential of the Narrabri coal seam gas project."

Eastern Star holds a 65 per cent interest in Narrabri, near Tamworth in New South Wales, with Gastar Exploration holding the balance. Production testing is underway at two locations on the 9,100 square kilometre site and approximately 70 per cent of funds raised will be used for drilling of production pilots and core holes. Eastern Star says it expects to see certified reserves increase well beyond present targets.

The placement, at 55 cents a share, will settle on March 17.

The coal seam gas potential of Queensland has been a bullish investment theme of late, illustrated by the takeover battle for Pure Energy Resources (see It ain’t over yet, March 4) and last year’s acquisition of Queensland Gas Company by BG Group. Yet New South Wales is hot too, according to a recent broker report written by Patersons analyst Scott Simpson.

Simpson also noted that based on BG’s offer for Pure – and Pure’s estimated 3C contingent resources of 5797 petajoules compared with Eastern Star’s 6128PJ – a valuation of 93 cents per share for Eastern Star is implied. Based on current proven and probable (2P) reserves, Pure’s latest offer values Eastern Star at 75 cents per share, but on target 2P reserves of 845PJ, that means $2.90 a share for Eastern Star.

Eastern Star was rumoured to be in the sights of Arrow Energy, after it was outbid by BG Group for Pure Energy. While the capital raising puts such speculation to bed, the rumour mill has now set its sights on Metgasco, currently in a trading halt pending the announcement of a share placement. Metgasco holds the biggest coal seam gas reserves in New South Wales.

airedale

25-03-2009, 09:31 PM

$.375 for the last three days. Something will give eventually.:)

OutToLunch

26-03-2009, 12:21 PM

Something's going on here. Wouldn't a new SSH called Arrow or Shell be nice. :)

Also interesting to note that the market is ascribing almost zero to the time value of the options now, perhaps because the majority see the shares as having run too hard? Could be a profitable high-risk play at current levels if one had the balls to buy in to VPEO now -- with a good chance of a hefty drop on any retrace in the shares too......

STRAT

26-03-2009, 01:14 PM

The Big Ease

26-03-2009, 01:37 PM

wow!
i dont regret selling out because i made money elsewhere.
but this defies everything i know about the company.

csg isnt happening for 6 months at least.
no news on the oil yet.

BG mopping up?
it sure beats me. what is driving this rise?

STRAT

26-03-2009, 01:41 PM

OutToLunch

26-03-2009, 02:03 PM

Hi OTL,
When I was looking at buying VPEO I noticed there has often been a lag between the heads moving and the options following suite. That premium on the options may return

Well bugger me gently - I go out for an hour and it goes ballistic. Something has to be brewing, this trading activity is far from typical for VPE/VPEO and I struggle to believe that it's on speculation alone. Speeding ticket coming maybe?

upside_umop

26-03-2009, 02:04 PM

A pity I sold out of my VPEO a few days back for 12.5 after the depth fell out of the heads...25% for 6 days wasnt bad. 70% would have been better.

Still got a few VPE.

VPEO are doing great.

Jess9

26-03-2009, 02:22 PM

Considering were BOW is, and large bites into VPE (and O) sell depth today, could be a wee run-up just starting. Good luck holders!

OutToLunch

26-03-2009, 02:36 PM

The way VPE has gone lately, I'd have thought it was about time for a decent retrace back to the low 30s. Happy to be wrong though. :)

airedale

26-03-2009, 02:38 PM

My guess is its all about what VPE and BOW have in common other than Bermuda :D

Perhaps that is the Bermuda triangle:D:D:D
Thanks, Bermuda, I am still holding:)

Corporate

26-03-2009, 03:09 PM

Yeah well egg on my face for selling out at 10c (VPEO)

STRAT

26-03-2009, 03:15 PM

If things stay true to form I reckon there will be another run at the end of the day

Jess9

26-03-2009, 03:49 PM

I see VPE's partner BOW also climbing on todays announcement, $1 is getting close now!

Jess9

26-03-2009, 05:03 PM

If things stay true to form I reckon there will be another run at the end of the day

BOW 99c now, may close over $1 today?? Should pull VPE up with if it does on any volume. Intersting plays these CSG's

Oiler

26-03-2009, 07:33 PM

BOW 99c now, may close over $1 today?? Should pull VPE up with if it does on any volume. Intersting plays these CSG's

Jess9

Definitely interesting plays in CSG ;)

Maybe we should be investing in our own backyard and looking more seriously at LMP. They sure have "huge potential acreage" in southland.

It looks like the age of CSM has arrived :D

Oiler

STRAT

26-03-2009, 07:57 PM

Jess9

Definitely interesting plays in CSG ;)

Maybe we should be investing in our own backyard and looking more seriously at LMP. They sure have "huge potential acreage" in southland.

It looks like the age of CSM has arrived :D

OilerNaah, its just a bubble plus it could prove expensive piping that gas from the Mainland to Queensland too :D :D :D

Paddie

26-03-2009, 08:33 PM

croesus

26-03-2009, 09:54 PM

Wish I had more options.........what I have are free now so will hold.. see what eventuates..

Oiler

27-03-2009, 07:48 PM

Naah, its just a bubble plus it could prove expensive piping that gas from the Mainland to Queensland too :D :D :D

Strat

I will be 6 ft. under by the time the pipeline from the Mainland to Queensland is completed :eek:

If there is a dollar to be made in a bubble then I'm in :D:D

I think LMP's bubble is soon to be inflated as most AU coal seam gas companies have been over the last couple of years. The technology to extract CSG is getting better, but the capital costs are still high. The companies that have the acreage all need the deep pockets of the majors so we will see a lot of consolidation in the CSG market.

Oiler

STRAT

27-03-2009, 08:17 PM

Strat

IThe companies that have the acreage all need the deep pockets of the majors so we will see a lot of consolidation in the CSG market.

OilerHi Oiler,
I guess the big question is whether the small outfits will be squeeeeesed out :( or bought up :D

Bit of both I suspect

croesus

27-03-2009, 08:57 PM

Chickened out today... sold some VPEO at 20c... still a few stashed away... shame I didnt have 50k to spend when they were 6c a few short weeks ago

bermuda

27-03-2009, 09:03 PM

Been down to Arrowtown for the NZ Golf Open.

Why sell ???, when 41% of the Company is held by some very experienced investors, some of whom saw their QGC shares go from 25 cents to $5.75. These stories dont come around that often.

This will be a very different company in 6 months time.

Strat,
This still has a very long way to go. Dont get caught daytrading this baby. 41% of the shareholders are seriously in the know.

STRAT

27-03-2009, 09:39 PM

Strat,
This still has a very long way to go. Dont get caught daytrading this baby. 41% of the shareholders are seriously in the know.Thanks Bermuda. I do short trades but Im not a day trader and Im not trading this. Ive been watching real close over the last month because I couldnt put my finger on why it was appreciating ( though I do have a few ideas now ) and was expecting a retrace (@ +40%). There was no way I wanted to give that back to the Market after pretty much sitting on my hands since the middle of last year.
Its climbed to be 60%+ of my portfolio (@+160%). From a Kindergarden TA perspective Im yet to see any reason to sell, in fact the opposite :D

Phaedrus and AA
If either of you fellas can see a TA sell signal please enlighten and educate me

STRAT

28-03-2009, 01:16 AM

Thanks AA.
I appreciate and respect your opinion and the way it comes with your perspective clearly outlined. Its also confirmation that staying in was the right decision for me. Im not a day trader and that approach perhaps would have had me out and trying to get back in for a 3rd time since November which would be too high maintenance for me to manage.
The VPEO chart which is 2/3 of my holding paints a slightly different short term picture. I tend to look at it as secondary though as it is more volatile and generally falls back in line with VPE. Would you do the same or treat each as a separate entity?

Jess9

28-03-2009, 10:21 AM

bermuda

28-03-2009, 10:35 AM

Hi AA. Insightful. Thanks. So we may see a pull back for VPEO 10-13c (s/term at least), assuming no new reasons to run further emerges in the next few days.

I must read the last Annual. I see Impress has a lot in common with VPE. How much? I need to find out ; ) Better read that Annual over with a big glass of red tonight!

Dont underestimate the impact that the new well called Snatcher could have on VPE. What a great name! Follows on from Growler lol.....

This could a very sizeable oil fairway. Impress has 40% of it also. And Eddie has been loading up waiting for this to happen. VPE is only just getting started. imho.

Phaedrus

28-03-2009, 10:48 AM

Strat, the aim is to use tools that are appropriate for the job. You and Bermuda are quite clear that you are not interested in trading the short-term trends of VPE, so short-term signals are therefore irrelevant to you. Here is a chart showing 10 indicators that are tailored to VPE's current 2 month "medium-term" uptrend. All of these signalled entry into VPA at around 22 cents and none have yet triggered a Sell signal.

http://h1.ripway.com/78963/VPE328.gif

The channel trading system as used by AA was devised by Dr Alexander Elder and is well described Here (http://olesiafx.com/Alexander-Elder-Trading-For-A-Living/45.Channel-trading-system-alexander-elder-forex-stock.html) While it is a good system, in my opinion it is not suitable for traders like Strat or Bermuda. I have got a lot of time for Alexander Elder and his systems. I have met him and have attended a course that he ran on just this topic. I really like the guy. He worked as a psychiatrist in New York City and taught at Columbia University. His experience as a psychiatrist provided him with a unique insight into the psychology of trading - an approach that I strongly favour. Here is an Elder's "reversion to the mean" channel chart using AA's parameters of an 8 day ema with +/- 20% channels. You can see that it has indicated several previous "Sell" points. Strat and Bermuda would have been very pleased indeed to have ignored all of these signals.

http://h1.ripway.com/78963/VPE328aa.gif

Strictly speaking, AA's channel is too wide. Quoting directly from Elder "A moving average reflects the average consensus of value. A channel or an envelope must be adjusted until it contains 90 percent-95 percent of all data." You can see that the parameters used by AA give a channel that contains 100% of the data - this is way too wide. Elder also recommends the use of a 13 day ema rather than the 8 day ema that AA uses, but either way, this system would have flicked you out of VPA at just 22 cents - something of a tragedy given that VPE has continued on to double in price - so far.

AA, yesterday's candle is a Shooting Star rather than a gravestone doji. A gravestone doji has the Open and Close at the Low of the session. Nison defines a Shooting Star as "a bearish candle with a long upper shadow, little or no lower shadow and a small real body near the lows of the session that arises after an uptrend". What's in a name, though eh? We are all agreed that this is a Bearish formation - in the short term.

Jess9

28-03-2009, 10:50 AM

Hi Bermuda. Well done on BOW and VPE. Yes will read Impress right after Vic. Does Impress have any CSG permits?

STRAT

28-03-2009, 11:17 AM

Dont underestimate the impact that the new well called Snatcher could have on VPE. What a great name! Follows on from Growler lol.....

This could a very sizeable oil fairway. Impress has 40% of it also. And Eddie has been loading up waiting for this to happen. VPE is only just getting started. imho.Haha Bermuda,
Id like to know who the Snatcher is thats been doing the buying :eek::D:p
and thanks for the FA compressed down to a tip

STRAT

28-03-2009, 11:25 AM

Thank you Phaedrus.
Even more enlightening than usual.
I see my indicators need a little fine tuning plus I have a few to add :D so a big thanks for that too. Still getting my head around what you nicely refer as tailoring

STRAT

28-03-2009, 11:26 AM

So we may see a pull back for VPEO 10-13c Hell Jess, I hope not :eek:

A nice rubbery bounce off 13c I could live with but 10c .....

Jess9

28-03-2009, 11:38 AM

Jess9

28-03-2009, 11:39 AM

Ps Strat, happy to support the line, were it to head down there, s/term.

The Big Ease

28-03-2009, 11:40 AM

thanks from me too Mr P.

STRAT

28-03-2009, 11:45 AM

Like others have said it follows the head's lead, but I guess the time premium may kick back in to pad out any retrace. Interesting to watch next week. Like P says, no worries to holders with longer time frame, presently.Im guessing around the 15-16c mark but the rest of the world took a tumble last night so we will see.

AMR are you still clutching a hand full of these?

OutToLunch

28-03-2009, 11:56 AM

Thanks from me too. While I'm a buy and hold type rather than a trader I'm also looking hard for a cue to cash in the options at some point given their expiry early next year. So far there doesn't seem to be any selling from the major holders which is a signal for me to stay put and wait until there is, if it were to happen in the short term.

STRAT

28-03-2009, 01:30 PM

AA does the free version of Incredable Charts have a trailing stop facility? If so I cant find it

STRAT

28-03-2009, 02:30 PM

Thanks again AA

Phaedrus

28-03-2009, 08:59 PM

AA, I'm having trouble reconciling your system as stated, with the signals as you plotted them. For example, here is one of the buys cut from your chart :-

http://h1.ripway.com/78963/VPEa.gif

Your system is :-
Buy close to 8EMA on a Trend line break following a pullback or Break of Resistance off a 8EMA ..... profit target = 20% price band (SELL), trail stops at low of each day to lock in profits in case target isn't met.
Now look at the same time period plotted here - the trade as I have marked it meets all of your criteria as stated above :-
(1) Buying close to the 8ema (Yes)
(2) On a trendline break (Yes)
(3) Following a pullback from the channel (Yes)
(4) Trailing stop set at days low. (Yes)

http://h1.ripway.com/78963/VPEb.gif

Three days after buying, the stoploss was hit, making this a losing trade. Right?

Phaedrus

28-03-2009, 09:28 PM

Read the post Phaedrus. "Personally I prefer to trade from below the lower band to the middle EMA and beyond rather from the Moving average to the upper band. Therefore this is just an example and not how I trade" Fair enough, except that VPE hasn't gone anywhere near the lower band (let alone below it) in the period covered by your chart, so would not have triggered any buys. Nevertheless, you marked 5 "BUY" points on the chart. I accept that these are hypothetical and not actual trades, but the example I gave doesn't appear on your chart - even though it complied with all the rules you gave in that post as applying to the "Below Chart".

AMR

28-03-2009, 11:03 PM

Im guessing around the 15-16c mark but the rest of the world took a tumble last night so we will see.

AMR are you still clutching a hand full of these?

Yes yes I have held. I will buy you and oiler beers at the next meeting for stopping me from selling them :)

STRAT

29-03-2009, 09:57 AM

...Strat for you! since you asked previously in this thread , u said im still coming to grips to how you tailer your indicators phaedrus... Strat You simply adjust the indicator time period until the indicator fires when you want it to, Funny how all phaedrus's indicators fire all at once, and how they are never wrong even when the don't? simple just adapt the time period of the indicator to show what you want it to, Curve fitting is poor practice in my opinion.

ahhh I think ill have another beer thank you!

AA Hi AA,
Curve fitting I assume is setting time periods etc to show correct/desirable signal trigger timing historically on the assumption they will also trigger correctly in the future?

Do you use recommended defaults or another approach?

axion

29-03-2009, 02:49 PM

Hi AA,
Curve fitting I assume is setting time periods etc to show correct/desirable signal trigger timing historically on the assumption they will also trigger correctly in the future?

Do you use recommended defaults or another approach?

Yeah curve fitting is when you 'overfit' your model to the historical data, which basically means running your strategy over the historical data will give you good returns because you tailored your strategy to what happened in that data.

This can be overcome by developing your strategy on years x to y data, and then testing it on years y+1 to z. If the returns on the test are similar to the returns you got on the development data then you might've found a good strategy. If, however, you got 50% per year on the development data and then 5% on the test... you have probably overfit your model.

STRAT

29-03-2009, 03:09 PM

Yeah curve fitting is when you 'overfit' your model to the historical data, which basically means running your strategy over the historical data will give you good returns because you tailored your strategy to what happened in that data.

This can be overcome by developing your strategy on years x to y data, and then testing it on years y+1 to z. If the returns on the test are similar to the returns you got on the development data then you might've found a good strategy. If, however, you got 50% per year on the development data and then 5% on the test... you have probably overfit your model.Thanks Axion

OutToLunch

30-03-2009, 02:56 PM

VPE looks to be on the move again after a brief lull in the low 40s. Where on earth is an announcement or a SSH notice, or even just a speeding ticket. The silence is deafening!

STRAT

30-03-2009, 03:05 PM

Looks like the sell column is drying up especially with the options.
Hoping for another run this arvo

OutToLunch

30-03-2009, 05:04 PM

Either I'm seeing things or there's a big fat fake buy sitting in VPEO at 19.5.... perhaps a sign that we've seen the top for now?

STRAT

30-03-2009, 05:15 PM

Either I'm seeing things or there's a big fat fake buy sitting in VPEO at 19.5.... perhaps a sign that we've seen the top for now?lol yeah I was just lookin at that.

Ish

30-03-2009, 05:21 PM

Price is 45c now.. so much for a retrace to 30-35c per the charts...

Note: I'm not trying to jinx it becoming true

Phaedrus

30-03-2009, 07:38 PM

Strat was asking about SELL signals for VPE. He is holding a stock that is in a good uptrend and has more than doubled in just 7 weeks. He does NOT want to be prematurely flicked out by any short-term Sell signals. What he wants is early warning of when this splendid uptrend starts to weaken, with a view to perhaps locking in some of his profits. He is not interested in short-term trading. Trend channels are quite unsuitable for Strat's purposes. AA's system has been firing Sell signals all the way up - 4 times, so far. While all have flagged good points for short-term traders to take their profits, Strat et al would be very pleased that they ignored each and every one of these signals. Strat is holding an uptrending stock, so he needs trend indicators to monitor it.
The most commonly used trend indicator is probably the trendline. It is drawn through previous lows and price action breaking below it shows that momentum is falling - the rate of the uptrend is not being sustained. Other indicators can be similarly used to monitor uptrends. For example, since Strat doesn't want to actively trade VPE, he would select a moving average that just skimmed below previous lows in exactly the same way that a trendline does. Such a moving average would avoid unwanted "Sell" signals but would tell him when the uptrend weakened significantly. Any indicator should be suited to the volatility of the stock in question and should be set to a sensitivity such that it generates trades of a frequency that suits the user's preference.

Phaedrus, you curve fit everything after the fact, You simply adjust the indicator time period until the indicator fires when you want it to.... Quite the reverse!!! I increase the indicator time period until it DOESN'T fire when I DON'T want it to. Thus, when it does eventually fire, I know that the something has changed. The stock is showing atypical weakness - the uptrend is measurably weaker than it has been before.
There seems to be some confusion here over the difference between tailoring indicators to your needs vs curve-fitting. AA, to set up your trend channels, you select a moving average suited to the stock in question, and then select the channel width to suit your trading preferences. You have tailored your system to get the signals that you want. This is no different from selecting a moving average that suits a particular stock and accords with the trading frequency you prefer. There is no "default" moving average value. Short-term traders use short time periods, long-term investors use long time periods. Volatile stocks need less sensitive indicators and the usual way to accomplish this is to use longer time periods for any indicators that you use. Choice of suitable indicators appropriate to the task enables us to trade as frequently or as infrequently as we like. Selecting the level of activity you want is NOT curve-fitting!

Funny how all Phaedrus's indicators fire all at once, simple just adapt the time period of the indicator to show what you want it to AA, those 10 indicators are set up to monitor the current on-going uptrend - they are there to provide SELL signals. None have fired yet and while no-one knows when they will fire, I can pretty much guarantee you that they will NOT all fire at once - though it wouldn't matter if they did.

Curve fitting is poor practice in my opinion.AA, You select your system parameters to suit the individual stock and give you the degree of sensitivity and trading frequency that you want. I do exactly the same. Neither of us is curve-fitting.

When we attempt to evaluate the "worth" of any given signal, the only yardstick we have is how it relates to its past performance. None of the indicators shown in my chart (page 74) have yet triggered a Sell signal during this uptrend, so when one does trigger this will be a unique event, telling us that the uptrend it technically weaker than it has ever been before. There are, of course, no guarantees, but no uptrend lasts forever and many people would sell on the basis of such signals.

AA's channel system triggered a VPE Sell signal on Friday. Should Strat have acted on it? NO!. Why not? Because from Strat's perspective, the 3 previous sell signals were all bum steers. They identified short-term reversals only - the underlying uptrend that Strat is interested in just kept on rolling. The odds are that this latest "Sell" signal will be much the same. With VPE rising another 10.8% today, I'm sure that Strat will be very pleased he ignored Friday's trend channel "Sell" signal.

Jess9

30-03-2009, 07:39 PM

Interesting close at 46c

STRAT

30-03-2009, 07:55 PM

Yes Phaedrus Im very pleased :D
Im also very grateful for the input I have had from both you and AA. You fellas seem to have formed a bit of a debate about how one should/could approach VPE and over each others posts on other issues relating to.:D I have learned more because of it. I may not be short trading VPE but I do some quick turn over trades. Looking at this stock which I am following very closely from both perspectives has been very educational and insightful for me.

Thanks fellas.

STRAT

30-03-2009, 09:11 PM

Strat understand that you asked me of my opinion of a stock which I would never have held in the first place due to strict criteria I have in place, I dont trade companies I trade set ups.
AAMate that was always understood.;) and I tried to make that clear from my first reply

STRAT

30-03-2009, 09:51 PM

This is my current chart less todays action. Feel free to pull it apart :D already using MacD. I also like and use OHLC

Ish

30-03-2009, 09:52 PM

Its interesting getting everyone's analysis and opinions.

I try to take heed of TA while trading on my FA beliefs.

Cheers for adding the insightful contributions Phaedrus & AA interesting to read.

bermuda

30-03-2009, 11:03 PM

Its interesting getting everyone's analysis and opinions.

I try to take heed of TA while trading on my FA beliefs.

Cheers for adding the insightful contributions Phaedrus & AA interesting to read.

Ish,
These stories dont come round that often. Hopefully you loaded up at about 23 cents after our discussion at the last Sharetraders meeting.

Don't miss out on this one.

AMR

30-03-2009, 11:08 PM

Masses and masses of overhead resistance from 17 years ago on my chart. Not sure if it still matters, its been split and diluted many times so the resistance is washed away correct??

bermuda

30-03-2009, 11:15 PM

Masses and masses of overhead resistance from 17 years ago on my chart. Not sure if it still matters, its been split and diluted many times so the resistance is washed away correct??
AMR,
Still very relevant. This is what has been holding back the sp by 30 cents.

AMR

30-03-2009, 11:32 PM

We are smack bang in the middle of a trading range fom 98-01 right now.

STRAT

30-03-2009, 11:48 PM

We are smack bang in the middle of a trading range fom 98-01 right now.mmm, ready to be shot down here but 17 years is a bit too historic to be relevant surely:confused:
Dinosaurs have been keeping VPE down? :D
The big picture is important but at some point surely all relevant detail must become invisible

airedale

31-03-2009, 09:28 AM

I wonder what caused all the excitement back in late '96. $2.40:D Heady stuff. Perhaps someone with a longer memory than mine can enlighten us.

I did post a chart on this back in 29/12/08 but the chart has gone, might try it again later. But yes $2.40 in '96.

Ish

31-03-2009, 11:45 AM

Ish,
These stories dont come round that often. Hopefully you loaded up at about 23 cents after our discussion at the last Sharetraders meeting.

Don't miss out on this one.

Bermuda,

Thanks to your postings I loaded up at 19.5c before the meeting. I've read up a lot since then and sitting tight.

Financially dependant

31-03-2009, 07:53 PM

Another good solid afternoon's buying.....there seems a bit of depth at 50c (on sellers side) but getting a bit thin after that......not bad on an average day on the ASX.....tommorrow looks like another interesting day......looking forward to a new SSH ann.......hoping for AOE...:rolleyes:

airedale

31-03-2009, 09:48 PM

Found that tantalising old chart again.

http://i474.photobucket.com/albums/rr105/airedale99/vpe_ax_price_monthly29mar96_to_12se.png

Phaedrus

31-03-2009, 10:55 PM

No indicators have signaled a sell yet and current price action is such that none are anywhere near triggering. The uptrend continues and volumes are still high.

http://h1.ripway.com/78963/VPE331.gif

bermuda

31-03-2009, 11:01 PM

Phaedrus,
Your technicals are as good as my fundamentals.

All just starting . imho

The Big Ease

31-03-2009, 11:05 PM

Phaedrus,
Your technicals are as good as my fundamentals.

All just starting . imho

im really glad to see your patience reward mr B.
i sold out because i just didnt see what would support the SP until CSG drilling.
perhaps there is more to it. good luck to you.

if i werent making money elswhere id be extremely jealous!

bermuda

31-03-2009, 11:26 PM

im really glad to see your patience reward mr B.
i sold out because i just didnt see what would support the SP until CSG drilling.
perhaps there is more to it. good luck to you.

if i werent making money elswhere id be extremely jealous!

TBE,
You have only got about 15 minutes to get this done in the morning before opening.

It is 11.24 NZ time and I have just 'heard' that Credit Suisse have put out a note suggesting that both BOW and Eastern Star Gas ESG are takeover targets.

Well far out. If this gets into the Aussie papers ,watchout. Pure went from $1 to 8 bucks.

Wait for a few minutes and then get what you can. The reason I say wait a few minutes is because, as I said, I have only 'heard this'. It may not be true. So wait until it is confirmed and then get in 'donkey deep'....imagine what it could do to BOW.

But alas it may only be my imagination. But, if Credit Suisse comes out with this, it/they will spike up. ( like, in a big way )

Show me a better stock.

The Big Ease

31-03-2009, 11:56 PM

we both know bow will be a takeover target.......but is it one right now?
that's an interesting call :)

mark100

01-04-2009, 01:06 AM

TBE,
You have only got about 15 minutes to get this done in the morning before opening.

It is 11.24 NZ time and I have just 'heard' that Credit Suisse have put out a note suggesting that both BOW and Eastern Star Gas ESG are takeover targets.

Well far out. If this gets into the Aussie papers ,watchout. Pure went from $1 to 8 bucks.

Wait for a few minutes and then get what you can. The reason I say wait a few minutes is because, as I said, I have only 'heard this'. It may not be true. So wait until it is confirmed and then get in 'donkey deep'....imagine what it could do to BOW.

But alas it may only be my imagination. But, if Credit Suisse comes out with this, it/they will spike up. ( like, in a big way )

Show me a better stock.

Bermuda, the Financial Review gave a summary of the Credit Suisse report today. I can’t copy and paste directly but it goes along the lines of:

Pickings are now slim but CS says there is still some fun to be had in CSG

The major projects, BG, STO/Pet, ORG/Conoco and Shell are on lookout for reserves but there are few remaining targets

On a corporate basis CS thinks STO, ESG and BOW are vulnerable

While AOE has reasonable scale its Shell partnership makes it difficult for someone else.

Still sees opportunities in specific assets, although several are tied to natural owners. ie Tipton West ties to AOE and AJL’s interests tied to BG

bermuda

01-04-2009, 08:56 AM

Bermuda, the Financial Review gave a summary of the Credit Suisse report today. I can’t copy and paste directly but it goes along the lines of:

Pickings are now slim but CS says there is still some fun to be had in CSG

The major projects, BG, STO/Pet, ORG/Conoco and Shell are on lookout for reserves but there are few remaining targets

On a corporate basis CS thinks STO, ESG and BOW are vulnerable

While AOE has reasonable scale its Shell partnership makes it difficult for someone else.

Still sees opportunities in specific assets, although several are tied to natural owners. ie Tipton West ties to AOE and AJL’s interests tied to BG

Thanks Mark, appreciated. It has been a big March. Cheers

STRAT

01-04-2009, 12:09 PM

Looks like ESG and BOW are just doin the usual

Ketel One

03-04-2009, 01:15 PM

Fairly big drop for VPE yesterday (~10%). Hasn't broken the uptrend though yet:

http://iforce.co.nz/i/3a3ea489ce35e7186272df2aeba6c3d1.gif

Will be interesting to see how today goes; am thinking it could be a good time to pick up some more if it manages to stay above the trendline.

STRAT

03-04-2009, 01:18 PM

Will be interesting to see how today goes; am thinking it could be a good time to pick up some more if it manages to stay above the trendline.Hi Ketel,
I was just wondering if its lookin like time to get off. Today will be important either way. I show it as having fallen through that line ( logrithmic ) A close below 19 on VPEO would also be of concern

croesus

03-04-2009, 02:13 PM

Got rid of the last of my VPEOs yesterday at .23c.... happy to take a profit... may get back in if they drop back substantially....
disc cue ndo hgd ppp wid etc

impacman

03-04-2009, 03:17 PM

STRAT

03-04-2009, 03:25 PM

One would think that AOE's purchase of BPT's TW assets would take some of the short term speculators out of VPE - and BOW, ESG etc. I know AOE still have heaps of cash but is it likely they will have a crack at one of those so close on the heels of this recent purchase?

Disc: Hold VPE with longer term viewHi Impacman,
Dunno about that but whoever has been buying up VPE has already executed a plan I would have thought. That is of course if there is one substantial buyer causing the last months action.

impacman

03-04-2009, 08:26 PM

Hi Impacman,
Dunno about that but whoever has been buying up VPE has already executed a plan I would have thought. That is of course if there is one substantial buyer causing the last months action.

Hi Strat - just posted a comment to Oiler on the LMP thread about ST meetings that applies entirely to you as well - thanks - Lynfield C&B is definitely a go if you are keen.

Have been watching VPE a bit but really have no insight into whether buyer is one or many? I got the impression that it was following in the wake of CSG speculation etc. Have almost got signed up to Direct Broking (thanks Forrest) and I believe that it will give me access to orders (pre as well as post execution) and that will help give me a better understanding of buy and sell behaviour.

Have a good weekend.

STRAT

04-04-2009, 01:01 PM

Hi Strat - just posted a comment to Oiler on the LMP thread about ST meetings that applies entirely to you as well - thanks - Lynfield C&B is definitely a go if you are keen.

Have a good weekend.Yeah mate Id be into that. Im a bit busy this weekend and next is Easter. How about the one after that?

impacman

05-04-2009, 09:05 AM

Yeah mate Id be into that. Im a bit busy this weekend and next is Easter. How about the one after that?

That sounds good to me - weekend of the 18th. I'll give you a call that week and we can tee up a time. Talk soon.

Cheers.

STRAT

05-04-2009, 11:06 AM

Phaedrus

05-04-2009, 05:08 PM

Dead right, Strat - the OBV was rising but is now falling. The majority of the Sell signals here fired on 2/4/09. The OBV triggered a day earlier on 1/4/09 as befits a "leading" indicator, while the Trailing Stop was broken a day later (3/4/09). This is the "usual" firing order.

Long-term holders of VPE not interested in shorter-term signals may not have acted on any of the above. This is perhaps not as foolish as it first appears - VPE is still in an uptrend and the oscillators featured earlier have yet to fire. The important thing is that even long-term holders need some sort of exit strategy - without one, they are doing no more than blindly holding and hoping.

http://h1.ripway.com/78963/VPE45.gif

STRAT

05-04-2009, 05:24 PM

Thanks Phardrus.
Its reassuring to find no surprises in your post.

I must be improving :D

airedale

05-04-2009, 05:55 PM

http://www.flickr.com/photos/36966523@N08/3413149061/

Just playing around with point& Figure charts

Oiler

05-04-2009, 06:31 PM

That sounds good to me - weekend of the 18th. I'll give you a call that week and we can tee up a time. Talk soon.

Cheers.

Guys, I'm in for the 18th April

Financially dependant

06-04-2009, 01:37 PM

Potential $1.23 per share..................sounds good to me :)

http://www.stocknessmonster.com/news-item?E=ASX&S=VPE&N=171555

STRAT

06-04-2009, 05:53 PM

Looks like we are heading to a nice finnish. I was starting to fret that I might get pushed out today.

$1.23 eh FD. Did they mention how long that was gonna take? :D

impacman

06-04-2009, 07:45 PM

Guys, I'm in for the 18th April

Hi Oiler, if you are around it would be good to see you. This isn't a ST Auckland meeting - just a catch up at a local as Strat and I live in the area. I was going to touch base with Strat that week prior but I am happy to make it the 18th (Sat) if you are up - late afternoon early evening would be best for me. Strat would that work for you?

Also I came across the following post on SS under the Oil thread - you may have seen it but thought I would copy it here (hopefully I am not duplicating a copyright infringement). Given you suspicion of the CSG bubble though it might be of interest.

Below is an extract from Stockanalysis regarding Gas/LNG (just a one off quote, so hope that is o.k with Peter Strachan).

Last week, StockAnalysis addressed about 120-140 delegates at an informative conference in Brisbane which looked at progress towards development of coal seam gas (CSG) to LNG assets in Queensland. Some interesting and controversial conclusions can be drawn.

 Firstly, StockAnalysis believes that eastern Australia will experience a surplus of natural gas at least until 2015. Development of CSG fields will ensure a plentiful supply of gas at a price of $3-$4/Mcf for at least the next 5 years. Power production will play an important role in the medium term market for CSG, but large volumes of gas required for LNG projects will overhang the market for 3-5 years.

 All of the four or five proposed LNG plants for Gladstone are likely to be delayed from their current schedules, with first LNG production unlikely until at least 2015, resulting in a glut of domestic natural gas and lower prices than may have been expected on the local market. Project operators should work together to reduce capital costs, but industry experience indicates that this is unlikely to eventuate. Arrow and LNG Ltd have front running with an excellent project location, but the funding partner and LNG shipping company Golar, has no natural customer constituency. Golar plans to tap spot markets, which may be a tall order in an LNG market which will be oversupplied until 2015.

 Only those CSG companies with access to an LNG facility will be able to achieve higher margins for their gas, which will come from exporting it as LNG. Other CSM players hoping to sell gas to LNG producers may be disappointed. LNG operators will be keen to capture as much of the margin as possible by processing their own gas, leaving the stragglers facing the option of selling gas into a glutted local market, at least until late next decade, when delayed LNG plants begin to soak up local gas production.This gas bubble will have a negative influence on conventional gas players in the Cooper, Gippsland and Otway Basins, where prices will remain weak. This is particularly bad news for BHP, Mosaic, Exxon, Nexus, AWE, Santos and Woodside, which understandably is trying to sell its Otway gas interests, while Beach also has its CSG assets on the block.

 Asian LNG buyers are having difficulty understanding the concepts of 2P
and 3P CSG. In the past, sales contracts have been underpinned by Proven
(1P) conventional gas. There is some education to be done to inform the
market about security of CSG supply and ultimately of LNG supply,
especially since Queensland’s CSG-LNG push is a world first. Dealing with
CSG developments and certification of reserves requires different
standards from those applied to the conventional oil and gas industry.

 Globally there is an estimated 40 mt pa of uncontracted LNG coming onto
the market from new projects in Qatar over the next two years. This low
cost LNG supply is likely to flow to spot markets in India, Europe and
ultimately to North America. A flood of LNG into the USA on spot sales
will compete with local suppliers to keep gas prices low in North America
until at least 2011. High cost shale gas and CSG in the USA will find the
going very tough and many companies and projects will fail. Companies
with gas production in the GoM or from the Texas Gulf Coast are unlikely
to see gas prices return to over US$7/Mcf any time soon. There are many
Australian companies with gas production in the USA, all of which will find
margins squeezed, most notably, Petsec.

 Post 2015, there is a large market gap for LNG opening up with some
market watchers calculating about 42 mt pa of uncontracted demand in
Asia alone by 2015, rising to about 95 mt pa by 2020. This market
expansion will account for the excess Qatari production and open
opportunities for expanding production from Darwin, Gladstone, PNG and
other projects in WA, such as Gorgon and Wheatstone.

Financially dependant

06-04-2009, 08:56 PM

Looks like we are heading to a nice finnish. I was starting to fret that I might get pushed out today.

$1.23 eh FD. Did they mention how long that was gonna take? :D

Hi Strat, yes....If you don't have a date you can't be wrong?? :)

airedale

06-04-2009, 09:30 PM

Renko Charts are pretty cool too Airedale, maybe you could google it up and have a read, Many charting packages support them now, unfortunately IC charts doesn't, but don't let that stop you learning about them. More you know about the tools available to you, the easier good decisions are to make.

AA
Thanks AA, i will have a look:)

montyj

08-04-2009, 01:15 PM

I'm new to posting here (so please excuse my ignorance) but have followed the postings on the site for awhile now which I find is invaluable.
I'm trying to get to grips with TA analysis and was wondering if someone (i.e. AA or Phaedrus) could confirm the trendline break for VPE at 43.5c. From what I can ascertain this trendline break then turned into a resistance level which the shareprice hit & then started falling again. My question is can someone indicate where the next support level is - I think it's around the 27.5c mark but this seems like a big drop so I'd certainly appreciate anyone's input on this as I'd like to buy back into these in the near future.

Phaedrus

08-04-2009, 02:07 PM

Yes, Monty, there was a trendline break Sell signal at 43.5 cents, as shown on the chart on page 78 of this thread (post number 1168)

From what I can ascertain this trendline break then turned into a resistance level which the shareprice hit & then started falling again. There is no relationship between trendline breaks and resistance levels. They are 2 different unrelated things. There was resistance at 43 cents, but this is incidental to the trendline break.

My question is can someone indicate where the next support level is - I think it's around the 27.5c mark but this seems like a big drop so I'd certainly appreciate anyone's input on this as I'd like to buy back into these in the near future. There was support at 30.5 cents (as marked in green). Only time will tell whether support at this level will be hit again, hold or be broken. In other words, its historical presence in the preceding uptrend doesn't really help you very much if you are looking for a point to buy back in to VPE. Given the current downtrend, it is probably a bit early to be looking for re-entry signals, though. Until the situation clarifies itself, you could view breaks of the current tentative (unconfirmed) OBV and price trendlines as a possible entry signals.

http://h1.ripway.com/78963/VPE48a.gif

montyj

08-04-2009, 02:59 PM

Thanks Phaedrus .... sorry for missing your chart posted on the previous page which showed what I was asking. Appreciate your comments.

bermuda

08-04-2009, 04:58 PM

Thanks Phaedrus .... sorry for missing your chart posted on the previous page which showed what I was asking. Appreciate your comments.

I am not a chartist but do respect what Phaedrus has to say.

After having had dinner last night with JK and a couple of others I definitely wont be selling. Not that I ever intended to. The story and the shareholder base is too strong for that. Good luck to the traders. As I said before

"This is only just getting started".

Crypto Crude

08-04-2009, 05:14 PM

for the short term trader ask AA... for the long term investor ask Bermuda

hehehehe....

AA was absolutely right when he said (last week) to sell in the mid 40's , and then rebuy in the mid 30's...

AA,
now that you were absoultely right...
what are your thoughts about rebuying into the end of a bear market rally which seems to be almost over after two days of sell offs?
rebuy now in the mid 30's as you said?
or wait for the total sell off to be over?
or forget about it as Vic Pet has a mind of its own?
hehehehe....

:cool:
.^sc

STRAT

09-04-2009, 05:50 PM

Thanks AA for keeping us up to date on your thoughts.

It is appreciated

bermuda

09-04-2009, 08:44 PM

Thanks AA for keeping us up to date on your thoughts.

It is appreciated
Hi Strat,
A few guys on HC must have got burnt today. They have these fib charts telling them to sell. Note the word fib. lol.

This thing is only just getting started.

shasta

09-04-2009, 09:10 PM

Really! Well Im no expert on Fibs (Fibonacci)

But I would say this is a perfect example of when it works?

VPE bounced off the 32.8% Fib,

a default standard Fibonacci level which often provides support.

Not Sure how those at the HC forum are using their tools or if they are just telling Fibs, haven't looked.

http://i41.photobucket.com/albums/e264/arranging/vpe_ax_price_daily07apr08_to_23apr0.png
http://i41.photobucket.com/albums/e264/arranging/vpe_ax_price_daily07jan09_to_14apr0.png

AA

Thats cos HC is full of sh*t & paid lackies to pump & dump...

Anyone reading that rubbish needs there head read!

STRAT

09-04-2009, 09:58 PM

Hi Strat,
A few guys on HC must have got burnt today. They have these fib charts telling them to sell. Note the word fib. lol.

This thing is only just getting started.Too funny. Perhaps they had their charts upside down :D
It wouldnt be the first bad fib to pop up on HC. Of that Im sure :D

Havent been to HC for yonks. Might take a look

AMR

12-04-2009, 10:48 PM

The only worry is that the rise was on light volume. Hopefully we'll see a rise on heavy volume tomorrow.

Jess9

13-04-2009, 01:20 PM

good tail wind from offshore : )

airedale

15-04-2009, 05:30 PM

Bow and Arrow flying today. Will VPE catch up with Bow.?

MrDevine

15-04-2009, 05:48 PM

Bow and Arrow flying today. Will VPE catch up with Bow.?

Punters seem to be betting that BOW is going to find something BIG at its Comet/Norwich Park locales. I like BOW however its gone waaaaaay too far to fast for my liking. (however who knows is someone building a stake?) I sold down at $1.14.

Its interesting that its deviated so much from VPE recently, when previously they'd been in lockstep. Maybe VPE need to prime the pumps, BOW and AOE have been doing a good job on that front recently.

Even in the gloom we're still making money though eh?

Mr D.

Ketel One

16-04-2009, 01:46 PM

Would be interested in others thoughts on the Don Juan announcement (http://www.asx.com.au/asxpdf/20090416/pdf/31h2t0c8dpz6zp.pdf). Relevent bits extracted below:

Don Juan CSG Project Surat Basin – Bow Expands 2P Testing Program

Following excellent results of the initial Don Juan 2P testing program completed last week which indicated high coal permeabilities, Bow is now doubling the program from three to six wells with the objective of increasing the area from which 2P reserves may be converted from 3P reserves.

The original testing program was planned to test three coal‐bearing intervals in each of the Carnarvon‐2, Carnarvon‐3 and Carnarvon‐4 wells, located in the main focus area of the Don Juan project area. High coal permeabilities have been encountered in each of the initial three wells tested, prompting the Joint Venture to extend the testing program to include target coal intervals in the Taringa South‐2, Taringa South‐3 and Orallo North‐2 wells. MHA’s independent verification of the permeability tests on the initial three wells is expected to be completed within a month.

http://iforce.co.nz/i/48a593773fb5a690320829b822bc1453.gif

Jess9

16-04-2009, 09:30 PM

Looks to me like VPE now has enough ammo to punch through 50c shortly. More CSG drilling/reserves soon, Snatcher next month and doubling oil production soon after!

Jess9

18-04-2009, 07:25 PM

Hi Ketel One.

The spread of new drills/wells appears to double the original footprint. I wonder if this could mean a potential doubling of the field reserves assuming all drills hit? What this means in terms of additional quantity from 2P to 3P?? Can only be good me thinks : )

I remember some dissatisfaction here awhile ago on the quantity of 2P reserves announced. Under delivery on promises etc...this will fix that? If a big reserve and quality of reserve can be delivered on Don Juan it is well timed. CSG is Hot. Larger reserves could = a well priced takeover offer. More CSG for VPE may boost VPE closer to BOW's share price. Then if snatcher is a hit also : )

Jess9

18-04-2009, 07:43 PM

Bermuda, you have followed CSG much more closely and for longer than me. What are your thoughts on this? Fair chance of say doubling reserves at Don Juan (or is this way off)?

bermuda

19-04-2009, 12:39 AM

Bermuda, you have followed CSG much more closely and for longer than me. What are your thoughts on this? Fair chance of say doubling reserves at Don Juan (or is this way off)?

Their reserves are going to surprise a lot of people.

Jess9

19-04-2009, 10:34 AM

Their reserves are going to surprise a lot of people.

Name Units % of Issued
SENTIENT EXECUTIVE GP III 49,684,394 13.50%
QUEENSLAND GAS CO LTD 41,750,000 11.34%

Bermuda, how desperate are BG for additional reserves now? QGC is now BG of course. So a good reserve upgrade could trip the next play??

Bermuda, does VPE also hold 20% of that Roma (high CSG potential) permit? Roma also BG now. If so this would be an additional CSG incentive i.e. 100% of that permit. I guess Sentient is thinking along the lines of a BG offer at some point. Sooner or later, that is probably the question.

Jess9

19-04-2009, 11:54 AM

bermuda

19-04-2009, 12:08 PM

Name Units % of Issued
SENTIENT EXECUTIVE GP III 49,684,394 13.50%
QUEENSLAND GAS CO LTD 41,750,000 11.34%

Bermuda, how desperate are BG for additional reserves now? QGC is now BG of course. So a good reserve upgrade could trip the next play??

Bermuda, does VPE also hold 20% of that Roma (high CSG potential) permit? Roma also BG now. If so this would be an additional CSG incentive i.e. 100% of that permit. I guess Sentient is thinking along the lines of a BG offer at some point. Sooner or later, that is probably the question.

BG were targetting Origin which from memory have potential 2P, 3P and Contingent CSG of
5, 10, 15 TCF.

They missed out on Origin so got QGC and PES instead which I dont think add up to these figures ( just yet anyway ). So yes, BG are looking for more and PL171 ( yes 20% VPE ) could yield a lot more than the 87PJ quoted for VPE in the latest presentation.

VPE is shortly going to start proving these and other permits up. And then I am hoping for some corporate action. So we have an exciting period coming up plus the oil plays at Snatcher and Cuisinier.

Poised for action.

bermuda

19-04-2009, 07:41 PM

Hi Jess,
Sorry, I must be having a senior moment. What is the exposure to ? Don Juan is VPE 45% BOW 55% but I think you are referring to something else.

Once certified VPE's value in Don Juan is 50 cents per share and Bow's is over $1.

The Certification of Don Juan is going okay ( even Roma's MD said it was making good progress...why he said that in his letter to Roma shareholders I will never know ...but it was welcome)

The CSG sector has gone to sleep but it will awaken.

With BOW at $1.30 it is time that VPE caught up. The figures above were from a June 2008 post. There is so much negative sentiment about VPE it isnt funny. Sooner or later the new story will take over.

There is an energy crunch coming up ( 1-3 years ) and LNG will become a very strategic world class asset. An absolute earner for Australia. Origin alone is promising 5000 jobs for their Curtis Island total complex.

If you havent got any CSG's, get some.

Jess9

19-04-2009, 07:58 PM

Thanks Bermuda, appreciate that. More CSG for VPE is great news especially now. I expect if a good reserve increase stands up to close scrutiny a lot more CSG money will flow into this share shortly. Breaking through 50c is the test/indicator then. With its JV partner BOW at 1.30-145 now, VPE at 50c plus should certainly be attainable soon (all similarities and differences considered). And from the oil angel, Snatcher in May? Next three months then...

bermuda

19-04-2009, 08:51 PM

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

Shrewdy,
You owe me a beer Mate. Skol.

VPE goes to 80 before CUE hits 40?

VPE loaded and ready to go.

Financially dependant

19-04-2009, 09:44 PM

Shrewdy,
You owe me a beer Mate. Skol.

VPE goes to 80 before CUE hits 40?

VPE loaded and ready to go.

I would certainly have a beer on the that day......:)

Loaded with VPEO & CUE

MrDevine

19-04-2009, 10:44 PM

bermuda

20-04-2009, 08:28 AM

Bermuda – I see a potential target of 560PJ from their latest preso. Do you see upside for much more than that? If a takeover were to occur, would it be close to $1.10, approx $400m? They have a bunch of shares on issue compared to BOW.

BOW may have more upside yet ($3+) as they own most permits? Still would expect a bit of a sell down once those 20 million shares come on market at purchase price .27c. I think end of April, be interesting.

Thanks again for your input on these CSG threads, I've made a bit of cash against the odds over the last 12 months. Not as aggressive as you, have taken profits along the way. I start to freak out when showing large paper profits. Been a ride though eh!

Mr D

Mr D,
I would argue that the 1 for 6 shares are a seamless introduction. and are already accounted for. Because if you wanted to sell some BOW you already had 6/7ths of your ultimate holding to sell ever since the issue was made several weeks ago.

As you know I dont trade, I couldnt stand the angst of being left out. If you have managed to get in and out and still have your original holding then you have done very well indeed.

Enormous Gas in Place awaiting certification. And the big stuff is 100% owned.

STRAT

21-04-2009, 09:36 AM

Some body has converted 39000 options.
Dont understand the logic or the timing of this. Am I missing something :confused:

STRAT

23-04-2009, 01:46 PM

Nice little plug on Oil Barrel.com :D

April 20, 2009
Vic Pet Has Turned The Corner As Coal Seam Gas Excitement Starts To Rub Off

After a number of years trying to find its feet, it seems that ASX-listed Victoria Petroleum (http://www.oilbarrel.com/companies/details0/company/victoria-petroleum-nl.html) is finally hitting its stride. The Perth-headquartered E&P has had its fair share of ups and, more often, downs, from bruising boardroom battles to disappointing well results. Perversely, however, while other oil juniors are fighting for survival in the current credit-choked climate, Vic Pet is showing its best form for a number of years, with its market cap of A$132 million four times the pitiful A$28 million of late 2007.

Back then MD John Kopcheff said the historically low share price represented an investment opportunity for canny investors. Speaking at oilbarrel.com conference in November 2007, he pointed out that the company was starting to deliver some positive drilling results from its Cooper Basin oil exploration project and was sitting on a number of coal seam gas licences in the Surat Basin, exactly the kind of acreage that had ignited market interest in companies like Queensland Gas Co (now a 16.7 per cent shareholder in Vic Pet), Sunshine Gas and Pure Energy. Those who took advantage of that opportunity are probably starting to feel pretty pleased with themselves.

Coal seam gas (CSG) is an increasingly hot play in the Australian market and Vic Pet’s footprint here, acquired when there was little interest in the resource, could well transform the fortunes of the company. The aggregate value of the listed CSG sector has grown four fold in the past two years, with the pure play CSG market capitalization growing from A$1.9 billion in January 2007 to A$11.2 billion in March 2009.

Vic Pet is hoping its collection of interests in various CSG licences will generate similar market interest. The company reckons its CSG holdings give it a stake in a gross two trillion cubic feet gas-in-place resource. Work is well underway to prove up this reserve base, with the joint venture in the Don Juan CSG project (Vic Pet 45 per cent) recently approving a doubling of the work programme from three to six wells. The aim is to convert more 3P reserves to 2P reserves after the first three test wells on the project area yielded excellent results, finding high permeability coals. This is highly promising, particularly as the joint venture believes the Don Juan field is a westerly extension of Sunshine Gas Ltd’s Lacerta field, which has certified 2P gas reserves of 469 PJs with a 3P number of 1,097 PJ.

The company also has a 30 per cent interest in the ATP 574P licence, exposing it to a possible gross resource of 1,300 PJ, and 20 per cent of PL171 with a 438 PJ resource potential. These are big numbers in an area that is well placed to supply the eastern seaboard, including the Gladstone LNG project. What’s more, the acreage is operated by Queensland Gas and BG, both big players, and spenders, in this sector. Investors may want to consider whether Vic Pet would make a useful acquisition target to consolidate their position in the CSG-LNG corridor or for another Johnny-come-lately company looking to jump onto the CSG bandwagon.

While Vic Pet may be small compared to some of its CSG competitors, it is not without resources of its own. Its Cooper Basin oil project is starting to yield dividends now that growing oil production is providing the income to underpin operations until the CSG play pays off. Net production is currently running at 400 barrels per day and is expected to hit 800 bpd by year-end. Further exploration work, including the upcoming Snatcher-1 well in PEL 111, could well add further reserves as new drilling continues to open up what appears to be a major new oil province in Australia. The company has a relatively strong balance sheet compared to many of its peers. At the end of March, it has cash of A$20 million, no debt and the prospect of generating revenues of A$6 million this year at an US$45 per barrel oil price.

Crypto Crude

23-04-2009, 02:26 PM

bermuda,
Hopefully we can organise a time and go out for that beer with FD next week...
;)
.^sc

Financially dependant

23-04-2009, 09:25 PM

bermuda,
Hopefully we can organise a time and go out for that beer with FD next week...
;)
.^sc

Hey Shrewdy, I'm keen but I think super B might be away? probably playing golf on some sunny fairway ;)

airedale

24-04-2009, 02:47 PM

Hey Shrewdy, I'm keen but I think super B might be away? probably playing golf on some sunny fairway ;)

Sunny fairway! you say, FD. Mr B is also very good at spotting those "oily fairways".:)

srowe

26-04-2009, 11:19 AM

Being relatively new to this game,could someone enlighten me as to why the whole CSG thing has rocketed,while oil has slumped in a major way.
Your info greatly appreciated

Financially dependant

26-04-2009, 11:30 AM

Being relatively new to this game,could someone enlighten me as to why the whole CSG thing has rocketed,while oil has slumped in a major way.
Your info greatly appreciated

In a nut shell, Queensland's coal seam methane now has access to global LNG export market via Gladstone! Large players (like BG group) have the money and expertise to convert a waste product to the fuel of the future for the tiger economies of Asia. Oil is already there so CSG is just catching up!

The Energy Crunch which will make the credit crunch look like a walk in the park will rerate all energies to there energy content and gas is up there with the best, clean burning with lower emissions (part of the solution to replace coal).

Crypto Crude

26-04-2009, 01:11 PM

good post FD...
to add to that...
CSG and conventional oil and gas, have two totally different set of risk profiles.......

conventional oil and gas is high risk, high return, and high cost...
CSG is high return (big resources), much lower risk, and much lower cost...

mate... I totally believed in CSG, but I wasnt sure how the economy, markets would deal to this new oil and gas sub sector....
So I sold my 200k VPEO around 6cents...
I went with the lower risk heavy development company and got smoked...

well... I missed most of the CSG boom, as LMP came all the way back down from its peak.... I wont miss the UCG boom...;)

ICN is also a good CSG stock that hasnt gone totally ballistic, like that of VPE, and BOW...
do some research...
:cool:
.^sc

STRAT

26-04-2009, 02:34 PM

CSG is high return (big resources), much lower risk, and much lower cost...

:cool:
.^scShrewdy arent the setup costs in fact much higher?
I thought the whole CSG boom was mostly about the big players needing more reserves

Oiler

26-04-2009, 06:23 PM

Shrewdy arent the setup costs in fact much higher?
I thought the whole CSG boom was mostly about the big players needing more reserves

Agree with you STRAT. The costs are huge and the BOW's and VPE's et al dont have the resources to fund the development of there fields. Enter BG, ORG who have deep pockets.

We are going to see the price of gas drop on the East Coast of Australia as these fields start producing, with there production being fed into the common pipeline for open market sale. ORG and BG need to do something with there gas as the fields are dewatered and build up sufficient production to feed an LNG plant.

shasta

26-04-2009, 06:30 PM

Agree with you STRAT. The costs are huge and the BOW's and VPE's et al dont have the resources to fund the development of there fields. Enter BG, ORG who have deep pockets.

We are going to see the price of gas drop on the East Coast of Australia as these fields start producing, with there production being fed into the common pipeline for open market sale. ORG and BG need to do something with there gas as the fields are dewatered and build up sufficient production to feed an LNG plant.

Oiler

Isn't the UCG technology meant to be far more efficient than CSG, ie Linc Energy's method of extraction?

I know that technology isn't exactly mainstream either, but i've read before about GTL & UCG being highly efficient?

Financially dependant

26-04-2009, 08:43 PM

Oiler

Isn't the UCG technology meant to be far more efficient than CSG, ie Linc Energy's method of extraction?

I know that technology isn't exactly mainstream either, but i've read before about GTL & UCG being highly efficient?

shasta, there is no denying that UCG has massive potential but there are unresolved issues, CSG is a pretty straight forward in comparison with technology and sales contracts in place. No need for pilot plants just straight into production. Efficiency is relative, drilling shallow holes into dewatered coal seams and link into existing pipelines to LNG plants is pretty efficient.

Crypto Crude

27-04-2009, 01:23 AM

Shrewdy arent the setup costs in fact much higher?
I thought the whole CSG boom was mostly about the big players needing more reserves

a small CSG company has two strategies...

1) certify reserves and sell them/ get taken over...
2) develop the field...

developing reserves have huge costs, but certifying reserves do not...
The likes of VPE, and BOW, are just a vehicle, likely sell their reserves to the big boys anyway...

Last year I read that Arrow had .07/GJ of finding costs...
it is the sheer number of production wells required to maintain large production rates...in some cases, hundreds of production wells...
the rigs cost about 600k, and up to one million to complete a well and tie it in, as they are much smaller than the conventional well.....
and the depths are much lower....
it can cost 50 million dollars to drill one offshore well...

the certification of conventional oil and gas assets is much much much higher... this is my point...

I think it is safe to say that the small CSG stocks are not in the position of owning the whole process of exploration, through to development into production...
ICN is the only smaller stock I can see pursuing this sort of path....

its all about economies of scale...
and small companies cannot operate on the sort of output required to lower costs... for example, lower long term rig contract prices....

I see BOW, and VPE, as just vehicles for the big boys...

Id be interested in Bermudas thoughts on that...

I also remember Super B saying that the UCG process is 8 times more efficient that CSG... and LNC had production costs of under $20US per barrel...

all the mergers and acquistions is a testiment to what this sector offers...
in all parts of the economy it is hard to value an asset, that is until someone makes an offer on it... going on past coporate activity in the CSG sector, it is safe to say that certification will bring riches to smaller CSG companies prepared to sell out...
:cool:
.^sc

Oiler

27-04-2009, 07:10 PM

Oiler

Isn't the UCG technology meant to be far more efficient than CSG, ie Linc Energy's method of extraction?

I know that technology isn't exactly mainstream either, but i've read before about GTL & UCG being highly efficient?

Shasta there is a lot of "sales talk" as to which is the best method. UCG is an option to supply gas to an LNG plant but GTL is probably not on BG or ORG's radar at this stage as an option.
Origin are spending a lot of money on there FEED which is getting underway now and will lead to a final design and an eventual FID at end of 2010.

ORG are talking of some 2000 to 3000 compressors so I doubt they are considering GTL, but maybe UCG??

The main thrust of all these CSG minor companies to me is all about supplying Methane to an LNG plant in Gladstone to be built by a major.

This a very interesting market with a long way to go.:eek::eek:

bermuda

29-04-2009, 10:27 PM

I have read a few Quarterlies.

Nothing better than this one. Absolutely stunning report.

This stock is set to go places.

DYOR.

To all followers of VPE....our Grail is just around the corner.

STRAT

29-04-2009, 10:33 PM

I have read a few Quarterlies.

Nothing better than this one. Absolutely stunning report.

This stock is set to go places.

DYOR.

To all followers of VPE....our Grail is just around the corner.
Hi Bermuda,
Just about to take a look.
Im still in

PL171 3rd Q
Im no Oil man but that seems like a very busy calender to me

STRAT

01-05-2009, 04:28 PM

Ish

01-05-2009, 04:54 PM

Very happy with VPE
Have held all the way through the only exception being trading out and back into the options.
Like the way it has bounced off of and confirmed the middle drawn in trend line.
Are we due for the next leg up?

Bloody hope so :D

I sold out during the retrace but saw the error of my ways and bought back in - more than before so I am pretty heavily in VPE (by my standards).

STRAT

01-05-2009, 05:00 PM

I sold out during the retrace but saw the error of my ways and bought back in - more than before so I am pretty heavily in VPE (by my standards).Hi Ish,
Did you get back in at a discount? :D
I managed to shave 2c off the cost of my options which is currently 2/3 of my VPE holdings.

Ish

01-05-2009, 05:51 PM

Hi Ish,
Did you get back in at a discount? :D
I managed to shave 2c off the cost of my options which is currently 2/3 of my VPE holdings.

No mate at a premium unfortunately, but I console myself with the fact that I will benefit more from any increases due to my increased holding.

croesus

01-05-2009, 06:44 PM

Had a fun time with VPEOs a few weeks back.... wondering if now the H.S are better value for the long haul.... seems to be a stock that polarises investors....any views welcomed.

cheers C.

STRAT

02-05-2009, 01:09 PM

Had a fun time with VPEOs a few weeks back.... wondering if now the H.S are better value for the long haul.... seems to be a stock that polarises investors....any views welcomed.

cheers C. Hi Croesus,
Heres my 2c worth
I only chart the heads as I believe this is more accurate and easier to read. The options will follow the heads but with added volatility.
I hold many more options than heads and with that the risk is higher as is the leverage.
There often has been little or no premium on them. One would expect any premium that does exist however to dissipate as we get closer to expiry.
How long you hold is a balancing act between price action and time left to run.
Technically I like what I see and I think there is more legs in both. ( Would appreciate any apposing views )
Trading in my options would be giving up a %100 gain for a 25% gain every time the SP moves 5c or so.

Of course that goes both ways :eek:

STRAT

02-05-2009, 01:26 PM

Hi Phaedrus.
Would you be able to review the VPE chart using candles?

STRAT

02-05-2009, 01:57 PM

Hi Phaedrus.
Would you be able to review the VPE chart using candles?Spose I shouldnt ask without having a crack at it first myself :D

Points noted
3 wave retrace through which buyers and sellers have continued to dry up. Traders out and investors staying put?
3 hammers indicating support? The second of which bounced off rising trend line and the last of which closed up and above the short term falling trend line. ( trend lines set to closing price )
Last candle buyers in control. Closed at days high.

Phaedrus

02-05-2009, 03:01 PM

That's a good short-term summation of VPE, Strat.

Tell me if I have got this wrong, but I thought that you and Bermuda et al were more interested in the medium term. You have held right through, haven't you, and as such would be primarily looking out for a Sell signal. Trading VPE short-term would have triggered at least 5 trades in 3 months - is that what you want? (The returns would have been much the same either way.)

Here is the chart that I think you need - it may not be the one that you want though!

http://h1.ripway.com/78963/VPE52.gif

VPE is in a short, medium and long term uptrend. There is a confirmed medium-term trendline in place and price action over the last few weeks has formed a Symmetrical Triangle. When formed after an uptrend (as this one was) an upward breakout is about twice as likely as a downward breakout. Friday's White Marubozu also makes an upside breakout more likely.

See how the volume shows a downward trend over the course of the triangle - that's exactly what is supposed to happen. You expect volume to increase on any breakout (up or down) but the subsequent performance of high volume breakouts is virtually identical to that of low volume breakouts.

STRAT

02-05-2009, 03:26 PM

Hi Phaedrus.
Thats exactly the chart I wanted. Its more or less the same as mine which I dont mind saying is very reassuring :D

Bermuda as far as I know along with being one of the best stock pickers I know of is a long term holder. Myself. I dont have a time frame. As long as its going up and not high maintenance Im happy to stay in. I prefer to always put market sentiment ahead of a good story. ( not that I dont like a nice risky little punt on a good story every now and then :D)
Have been watching this one very close cause Im top heavy in the options which expire early next year and because Ive made it a bit of a TA in practice and learn exercise.
As I mentioned earlier I traded out and back into the options once over the last month. The sell was a matter of being stopped out rather than trading the waves. As soon as I saw the depth increasing again I bought back on the first buy signal ( a little risky maybe )

I guess in a nutshell its a medium term hold with a short term view to the options.

Thanks for your reply and interest. Its greatly appreciated

STRAT

02-05-2009, 03:43 PM

but the subsequent performance of high volume breakouts is virtually identical to that of low volume breakouts.I didnt know that :o

da puntzda

12-05-2009, 08:24 PM

bermuda

12-05-2009, 11:45 PM

Does anyone think VPEO is priced right at the moment?:confused:

These options which expire in 2010, are trading at 17.0 cents, about the same as the current share price 41.0 cents less the strike price (25.0 cents).

Seems to be quite a big seller at 17.0 cents.

Punta,
Stay with this one for a bit of a ride. Undervalued due to negative shareholder sentiment. Have a look at the Board and the major shareholders. I hold options and will be looking to sell in about October...unless something good comes up. And it could.

This is a good story and we are only in the formative chapters.

Financially dependant

13-05-2009, 01:56 PM

Does anyone think VPEO is priced right at the moment?:confused:

Seems to be quite a big seller at 17.0 cents.

The options vary a lot, which I think is due to less liquid then the head shares (holders hanging on to them).

At these levels I think VPEO is a good punt just on the Snatcher well! If it hits then VPE has real potential for the "Fairway to Heaven" as super B puts it!
With plenty of CSG drilling after it has limited down side...

As Bermuda's also says "the drill does the talking"

airedale

13-05-2009, 04:14 PM

At this stage of the day, a miniscule ammount of 38,835 share have been traded today. Support holding above 40 cents.

STRAT

13-05-2009, 05:06 PM

Im more than happy with the way VPE is being supported and feel comfortable waiting for the next move for now

BIG D

24-05-2009, 12:19 AM

What do you guys think of 45,000 ordinary full paid shares in VPE allotted on 22nd May? thx

Ish

24-05-2009, 02:14 AM

What do you guys think of 45,000 ordinary full paid shares in VPE allotted on 22nd May? thx

Big D, I think its just someone exercising a few options. Nothing major.

STRAT

24-05-2009, 12:26 PM

Is VPE ready to go again?
Couldnt say which way for sure but seems to me its about to do something :D

Financially dependant

24-05-2009, 02:11 PM

Is VPE ready to go again?
Couldnt say which way for sure but seems to me its about to do something :D

Hi Strat, I am enjoying your graphs....my learning curve (pardon the pun) is a little behind yours but enjoying the process.

Yes I think VPE is ready for another lift, volume moving up first...classic.
We have oil moving higher (especially tapis) and Growlers storage/production is almost ready to come on line (June) and of course the Snatcher spud any day..all mighty positive......Then who knows what will reignite CSG (to many options to think off)??

Jay

24-05-2009, 02:45 PM

Thinking the same thing Strat.
Goes up a few cents - start to get excited then back it goes!

Here's hoping FD

bermuda

24-05-2009, 03:05 PM

Hi Strat, I am enjoying your graphs....my learning curve (pardon the pun) is a little behind yours but enjoying the process.

Yes I think VPE is ready for another lift, volume moving up first...classic.
We have oil moving higher (especially tapis) and Growlers storage/production is almost ready to come on line (June) and of course the Snatcher spud any day..all mighty positive......Then who knows what will reignite CSG (to many options to think off)??

Had a chat with JK last week. Yes things are under control and the Snatcher drill has a lot more implications than I previously thought. It has taken ages to get this fairway recognised. Patience is required . There are a few drills coming up.
BG are still getting organised to embark on their CSG drilling program which will be sure to attract interest. As you know, VPE has a powerful CSG shareholder base....that could be about to be exposed to a bit more oil than they reckoned on. The drill bit does the talking.

STRAT

25-05-2009, 05:14 PM

It works Vicky. I have big boy charts now :D

trackers

29-05-2009, 02:40 PM

Quarterly report just posted.

Sure about that?

May 2009
29thEGO: Empire Oil and Gas N.L. acquires Carnarvon Basin assets (http://www.stocknessmonster.com/news-item?S=EGO&E=ASX&N=448363)
22ndAppendix 3B Exercise of Listed Options (http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=172255)

April 2009
29thQuarterly Report and Appendix 5B period ending 31 March 09 (http://www.stocknessmonster.com/news-item?S=VPE&E=ASX&N=171858)

VPE selling off carnarvon assets, market doesn't like it (and fair enough?)

gazprom1

29-05-2009, 02:40 PM

Where has the quarterly report been posted? I see a notice out re sale of assets.

STRAT

29-05-2009, 03:10 PM

VPE selling off carnarvon assets, market doesn't like it (and fair enough?)Hi Trackers,
I would be more inclined to say the Market hasnt even noticed.
No rise in volume and VPE snoozing around the bottom of the trading range.
Still the day is young. Hope we dont see a sell off this arvo :eek:

This sale doesnt surprise me a hell of a lot knowing where VPE have their attention focused right now

trackers

29-05-2009, 03:16 PM

Hi Trackers,
I would be more inclined to say the Market hasnt even noticed.
No rise in volume and VPE snoozing around the bottom of the trading range.
Still the day is young. Hope we dont see a sell off this arvo :eek:

This sale doesnt surprise me a hell of a lot knowing where VPE have their attention focused right now

Yeah, I'd hope that management are selling off non-hopefuls for a bit of cash - Bermuda told me last night to trust them! So I shall.

I'm not actually holding at the moment, but eyeing an entry. 2c fall in the oppies looked ok, but there's not much on offer and the volume is light. you're right about the heads, not much happening there. We will see

STRAT

29-05-2009, 03:35 PM

Yeah, I'd hope that management are selling off non-hopefuls for a bit of cash - Bermuda told me last night to trust them! So I shall.

I'm not actually holding at the moment, but eyeing an entry. 2c fall in the oppies looked ok, but there's not much on offer and the volume is light. you're right about the heads, not much happening there. We will seeIf the heads close below 38.0 you might get that chance on those options Trackers. Of course Im hoping the support line is respected :p

STRAT

29-05-2009, 03:45 PM

A close below 38 would also mean a drop below the medium term ( unconfirmed ) trendline which would be a bit of a worry

shasta

29-05-2009, 06:56 PM

A close below 38 would also mean a drop below the medium term ( unconfirmed ) trendline which would be a bit of a worry

You looking to bail there Strat? :confused:

soulman

29-05-2009, 07:13 PM

I think the dissapointment lies in the price paid by Empire. Not a good price since it was not disclosed.

As for TA, VPE could go either way. I think downside to 30 looks more likely than a hold above 37.

Ish

29-05-2009, 07:38 PM

STRAT

29-05-2009, 07:48 PM

You looking to bail there Strat? :confused:Im always ready to bail Shasta :D

but Im happy to give VPE a little more wriggle room. My buy in price on the heads was 20c and my average is around 5.5c for the options.

Financially dependant

01-06-2009, 09:25 AM

A little 2 week delay on Snatcher drill but otherwise exciting times......

SALE OF ONSHORE CARNARVON BASIN, WESTERN AUSTRALIA INTERESTS
Victoria Petroleum N.L. (Vicpet) advises that it has entered into an agreement with Empire Oil &
Gas N.L. (Empire) to sell to Empire, all of Vicpet’s interests in the Western Australian onshore
Carnarvon Basin permits EP 325, EP 359, EP 433, EP 434 and EP 406.
The sale of the Vicpet interests to Empire is subject to the required WA government approvals.
Commenting on the sale of Vicpet’s interests in the onshore Carnarvon Basin, Vicpet managing
director John Kopcheff said:
“The sale of these permit interests is in keeping with Vicpet’s declared strategy of focusing its
funds and management effort on increasing the value of its quality Coal Seam Gas assets in the
Surat Basin Queensland and its oil producing assets in the SA and QLD Eromanga/ Cooper Basin.
In the immediate future, Vicpet will be active in the SA Eromanga/Cooper Basin with the planned
commencement of drilling of Snatcher-1 in PEL 111 in mid June 2009 on the Western Margin Oil
Trend to test interpreted “oil filled” channels sands up dip from the adjacent Santos operated Charo
Oil field.
Vicpet is confident that the Western Margin Oil Trend within PEL 111 and the adjoining permit PEL
104 will prove up with continuing drilling to be a major new oil province. The drilling of Snatcher-1
will provide a test of an exploration concept supporting this premise.”
The Snatcher-1 drilling will be followed in July 2009 by the re-commencement by the operator
QGC-BG of Coal Seam Gas development drilling in Vicpet’s Surat Basin permit PL 171”

Financially dependant

09-06-2009, 08:46 PM

For those that didn't see the latest presentation...

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=172437

Like the drilling schedule a few new additions.....very busy through to end of year!

The Big Ease

09-06-2009, 08:59 PM

For those that didn't see the latest presentation...

http://stocknessmonster.com/news-item?S=VPE&E=ASX&N=172437

Like the drilling schedule a few new additions.....very busy through to end of year!
....or through to the beginning of next year? :rolleyes:
these things almost ALWAYS late.
I sold out of VPE some months ago because of this unexpected delay.
Good potential though.

Huang Chung

09-06-2009, 09:13 PM

Where's Bermuda?

shasta

09-06-2009, 09:34 PM

Where's Bermuda?

Wasn't he off to have tea with Kim Jong Ill :D

Might have mentioned a trip to Seoul a while back?

Huang Chung

09-06-2009, 09:48 PM

Wasn't he off to have tea with Kim Jong Ill :D

Might have mentioned a trip to Seoul a while back?

Some people have all the fun :(

COLIN

09-06-2009, 11:48 PM

Where's Bermuda?
A good question. Hope he hasn't been quietly offloading his VPE onto us suckers and slipped off to his Caribbean hideaway.

Crypto Crude

10-06-2009, 12:06 AM

Bermuda is away in the UK for 5 weeks, and stopped off in Seoul...
He said his Villa did not have internet access...
poor, but lucky fella...
:cool:
.^sc

bermuda

10-06-2009, 09:19 AM

A good question. Hope he hasn't been quietly offloading his VPE onto us suckers and slipped off to his Caribbean hideaway.

Hi Colin,
Watched NZ get beaten by one run against SA.Yuk.

Hey, I am holding VPE closely. The action is about to start. We will flush out the doubters over the next few months. VPE has the best shareholding base of any company I know. ( About the same as BOW's ).

COLIN

10-06-2009, 10:05 AM

Hi Colin,
Watched NZ get beaten by one run against SA.Yuk.

Hey, I am holding VPE closely. The action is about to start. We will flush out the doubters over the next few months. VPE has the best shareholding base of any company I know. ( About the same as BOW's ).

Good to hear from you, Bermuda, from the green and pleasant grounds of Lords - on a fine June day its a blissful place to be. I remember attending a match there - the finals of the all-England Village Competition - and we were allowed to stroll on the hallowed ground during the break. And that last over, and the last ball, must have been extremely tense.

Thanks for your reassurance on VPE - I'm holding on.

gazprom1

12-06-2009, 03:57 PM

With VPE trading at 41 cents and the options trading at 17 cents it appears (without going into valuations) that the options are reasoanbly priced. If conversion is 25 cents in jan next year, you are only paying a premium of 1 cent (or 2.5%) for a 7 month period and having only approx. 42% of capital outlayed for the same exposure. Any views?

Thanks

Discl hold: VPEO

trackers

12-06-2009, 04:02 PM

gazprom1

12-06-2009, 04:08 PM

Agree. I spent 3 weeks on or near the buy side to pick up 300K options. I am hoping that with the drilling programme about to kick off there maybe renewed interest and increased volumes.

Jess9

12-06-2009, 09:08 PM

Today looks like the break holders have been awaiting. VPEO should follow in tow.

Jess9

14-06-2009, 07:04 AM

Agree. I spent 3 weeks on or near the buy side to pick up 300K options. I am hoping that with the drilling programme about to kick off there maybe renewed interest and increased volumes.

Nice timing IMO, for getting in. Option liquidity will improve with heads heading higher next (assuming this is the break out : ) Fun fun fun!

STRAT

14-06-2009, 11:28 AM

(assuming this is the break out : ) Not yet Jess but nice all the same.

Jess9

14-06-2009, 04:58 PM

a close over 43c then?

STRAT

14-06-2009, 05:06 PM

a close over 43c then?A sustained close above, yup. and or a nice bounce off to confirm support.
A nice increase in volume every day this week ( see below ) is a good look I will be looking for a further increase in Volume next week.
Fingers crossed.
But as you can see the break out below 38 around the 29/5 and 1/6 didnt turn into a down trend so there is no Guarantee a breakout above 43 will turn into anything either

Did you see how ITC ran out of gas as the day progressed?

Jess9

14-06-2009, 05:18 PM

STRAT

14-06-2009, 05:25 PM

yeah 5c looks like the barrier. VPE downside looks less than ITC were the oil to take longer than expected to prove up. Options should provide quite good leverage to upside movements as well. RE shared CSG, renewed interest in BOW too. Back to VPE...good change in volume from the last few weeks, Friday.Yeah Snatcher means a lot more to ITC so any result there should move that one considerably more I would think

in either direction :eek::D

ELYOB

14-06-2009, 08:51 PM

U under est ITC ; will gain leverage from the [S1+(2) ; 1 EFT; 2new] wells planned in the plan that has not been revealed . Heading for net production <1500bblopd . [ apply costing Fix+Var @ AUD$22.50bblo ; and rev based on AUD$ 92bblo] It is going to happen . VPE doesn't have the same leverage today .

STRAT

15-06-2009, 09:14 AM

the plan that has not been revealed Hi Elyob,
Got any more info on that and/or a source?

gazprom1

15-06-2009, 12:14 PM

Great start to the day. Heads at 44 cents and options at 18 cents. Options are still looking cheapish!!!=)

Jess9

15-06-2009, 12:27 PM

STRAT, you look like a cowboy. A big yea ha up she goes!

Jess9

15-06-2009, 12:30 PM

Oppies are at discount to heads! IF the head stabilises here and/or goes on further, nice entry opportunity.

STRAT

15-06-2009, 01:51 PM

STRAT, you look like a cowboy. A big yea ha up she goes!Thats my Blues hat. Just dont ask me to do any Country n Western. ok?

OutToLunch

15-06-2009, 03:15 PM

JK is really talking up the prospectivity of the Western Margin oil trend. Could get slammed in the short term if the current drill doesn't up prove the concept. Wouldn't it be better for him to keep it zipped until there's a result, rather than pump up expectations beforehand -- ie., better to exceed expectations rather than disappoint. :rolleyes:

STRAT

15-06-2009, 03:18 PM

OutToLunch

15-06-2009, 03:28 PM

Naa, I love spikes :D Could always hedge your bet by trading out of some on the rumour

Yep, that's already on my mind as I've started moving into cash lately anyway. I was going to say something about the possibility of a dry Snat-

:eek:

suntboy

15-06-2009, 03:48 PM

Yep, that's already on my mind as I've started moving into cash lately anyway. I was going to say something about the possibility of a dry Snat-

:eek:

lol

could be a gushing spurt of sticky ....

OutToLunch

15-06-2009, 03:54 PM

You win. I'm outa here. :o:eek:

Jess9

15-06-2009, 07:16 PM

Hi STRAT. Bit of back peddling at day end to 42.5. However VWAP over 44c. Volume up further, VPEO included.

OutToLunch

15-06-2009, 07:51 PM

Quite a few bods are starting to think that the current rally (including oil prices) might be just about of oomph. I too am nervous as per the bear rally thread. However maybe the antics of our mate Mahmoud in Iran might stir a bit more speculative money into oil prices before this round is over, in which case energy shares might still hold up ok in the very short term. Further out, though, I'm not so sure. Anyway, nice to see VicPet pick up a bit after a fairly long pause of late.

STRAT

15-06-2009, 08:35 PM

gazprom1

18-06-2009, 02:37 PM

VPE has been creeping down the past few days....here's hoping that Snatcher finds something to smile about. Maybe an update tomorrow or Monday?

mondograss

26-06-2009, 09:24 AM

Anyone willing to venture an opinion on the latest CSG announcement?

OutToLunch

26-06-2009, 09:30 AM

Square root of FA (FA = a very small number) was my take on it. :(

Here's hoping that Snatcher comes up with the goodies. Must be getting close to the target depth within the next few days.

Paddie

26-06-2009, 11:04 AM

Square root of FA (FA = a very small number) was my take on it. :(

Here's hoping that Snatcher comes up with the goodies. Must be getting close to the target depth within the next few days.

Claiming target depth was to be reached overnight on other channel.

If that is the case we would expect some news today.

Paddie

OutToLunch

26-06-2009, 02:29 PM

You're on the button there -- ann just out. Snatcher has oil, but not yet sure how much. "Fair to good" oil shows over a 9.4 metre interval. Growler 4 had a 12 metre column I think from memory. In any case the "oil fairway" idea has just gained some credibility. Fingers crossed that S1 is a producer (though "fair to good" suggests to me that it's unlikely).

da puntzda

28-06-2009, 10:04 PM

Hi Bermuda

Be interested in your thoughts on this weeks VPE ann - so so?

cheers

Disc hold VPEO (still an underpriced option compared to the head share IMO)

airedale

29-06-2009, 08:30 PM

Ann today that a director Bernard Wrixon has resigned for personal reasons.

bermuda

29-06-2009, 09:31 PM

Hi Bermuda

Be interested in your thoughts on this weeks VPE ann - so so?

cheers

Disc hold VPEO (still an underpriced option compared to the head share IMO)

The Snatcher drill is reinforcing exactly what VPE has been saying about this Oil Fairway for some time. Am holding both VPE/ITC in confident expectation of a Fairway of 100 mbbls ( 20m recoverable ).

Snatcher 1 will be followed by perhaps 3 others and I think Santos want to drill more Charo's. Have a look at their location. Could be a great sandstone channel and the fulfillment of a new oil province as speculated. Would strongly recommend you hold just for the oil.

CSG...that is another even better story. Just be patient.

Financially dependant

05-07-2009, 01:26 PM

The Snatcher drill is reinforcing exactly what VPE has been saying about this Oil Fairway for some time. Am holding both VPE/ITC in confident expectation of a Fairway of 100 mbbls ( 20m recoverable ).

Snatcher 1 will be followed by perhaps 3 others and I think Santos want to drill more Charo's. Have a look at their location. Could be a great sandstone channel and the fulfillment of a new oil province as speculated. Would strongly recommend you hold just for the oil.

CSG...that is another even better story. Just be patient.

Hey Super B,

Good write up in John Campbel's weekly O & G....He maintains the snatcher1 success really starts proving up the oil fairway, each snatcher drill extends the fairway further north and possible the pay zone gets thicker!
There is Santos, Beach (Drillsearch) as well as VPE & ITC involved.....Beach is the one on the expansion phase...:cool:

sector/province hoting up!!

bermuda

05-07-2009, 05:11 PM

Hey Super B,

Good write up in John Campbel's weekly O & G....He maintains the snatcher1 success really starts proving up the oil fairway, each snatcher drill extends the fairway further north and possible the pay zone gets thicker!
There is Santos, Beach (Drillsearch) as well as VPE & ITC involved.....Beach is the one on the expansion phase...:cool:

sector/province hoting up!!

Hi FD,
This is all panning out as planned and getting hotter by the week. VPE is worth well over a $1 ( and rising ) and ITC could get taken out at 20 cents PLUS in the fullness of time ( i.e. within 12 months )

The patient will be rewarded. This oil fairway will gain a lot of attention. It has been staring every astute investor in the face. As you know, I am loaded up to the gills and looking forward to the next few months. Trust you are holding.

And the best thing is that the major shareholders bought into VPE for the CSG. What a great little bonus this oil is going to give them.

Rif-Raf

05-07-2009, 09:41 PM

Intersting to compare impact of snatcher news on respective share prices of ITC and VPE considering both hold 40%

In last week:
ITC has increased 39% (4.6c to 6.4c )increasing their market cap by $18m to $47m
VPE has increased 7.7% (39c to 42c) increasing their market cap by $11m to $147m

airedale

06-07-2009, 02:27 PM

Hi FD,
This is all panning out as planned and getting hotter by the week. VPE is worth well over a $1 ( and rising ) and ITC could get taken out at 20 cents PLUS in the fullness of time ( i.e. within 12 months )

The patient will be rewarded. This oil fairway will gain a lot of attention. It has been staring every astute investor in the face. As you know, I am loaded up to the gills and looking forward to the next few months. Trust you are holding.

And the best thing is that the major shareholders bought into VPE for the CSG. What a great little bonus this oil is going to give them.

Hi Bermuda, do you see any similarity between ITC and RPM as regards a takeover.?

OutToLunch

06-07-2009, 07:20 PM

Great news from the Snatcher. But what does it take to move this thing? Surely confirmation of the new oil trend has to be very positive, yet VPE is either sitting still or drifting downwards slightly. Perhaps it's because ITC might be the better % play from this point?

bermuda

06-07-2009, 08:41 PM

Hi Bermuda, do you see any similarity between ITC and RPM as regards a takeover.?
Hi Airedale,

VPE is a very high potential target for BG. It has 70-80 % of 2 very gassy CSG permits.
It is just a matter of time.

Meanwhile the knockers sell. In 5 months time we will be shed of them.

But to answer your question........2 different fish, but on the same SCALE.

STRAT

06-07-2009, 08:46 PM

Meanwhile the knockers sell. In 5 months time we will be shed of them.
.Not all knockers Super B. A few traders as well. General outlook for the next few months is a tad bleak

KentBrockman

06-07-2009, 09:14 PM

Meanwhile the knockers sell. In 5 months time we will be shed of them.

The problem with this is, Bermuda, or 'Super B' as some call you here, that you said that 5 months ago too, and 5 months before that.

shasta

06-07-2009, 09:44 PM

The problem with this is, Bermuda, or 'Super B' as some call you here, that you said that 5 months ago too, and 5 months before that.

C'mon KB - can't you acknowledge the input from Bermuda, for BOW, RPM, ITC, & VPE.

They have all made some pretty impressive returns over the last 12 months or so.

KentBrockman

06-07-2009, 09:55 PM

C'mon KB - can't you acknowledge the input from Bermuda, for BOW, RPM, ITC, & VPE.

They have all made some pretty impressive returns over the last 12 months or so.

I do, I do!

I am just a little concerned about Bermuda's unwavering support for DHJ.

STRAT

06-07-2009, 10:18 PM

C'mon KB - can't you acknowledge the input from Bermuda, for BOW, RPM, ITC, & VPE.

They have all made some pretty impressive returns over the last 12 months or so.Sure have and Bermuda has a talent for picking long term plays. The share Comps are proof of that.
ITC RPM and VPE have all put a big :D on my face. The only exception is BOW :rolleyes: cause I didnt chase em up when they were between 20 and 30c :(

Financially dependant

07-07-2009, 07:21 PM

Ann out....

Testing in progress at Growler facility upgrade complete......2000bpd here we come...:)

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=172907

STRAT

07-07-2009, 08:10 PM

Ann out....

Testing in progress at Growler facility upgrade complete......2000bpd here we come...:)

http://stocknessmonster.com/news-item?E=ASX&S=VPE&N=172907Thatll give ITC another kick in the guts

da puntzda

07-07-2009, 09:03 PM

evening all

I read from the announcement that this will [I]increase[I] the flow to 2,000 BOPD.

Does anyone know what this was previously? any idea of the profit margin from Growler as 2000 * $100 AUD * 40% is obviously a far chunk of cash before expenses.

cheers

disc VPEO

BIG D

16-07-2009, 10:31 PM

VPE has been so quiet for the last few months, hopefully, we can see some spark soon.