losses and dilution, page-4

Hi Lassetter,
Obviously I am concerned about what is going on.I will continue to assess the situation.

For some reason I am attracted to these sentiment stocks...
e.g NZO ,PPP , PRC, and now VPE. I look at the Fundamentals and see them as undervalued...and this is due to market sentiment.

With respect to VPE it is obvious that at least 2 others parties can see that VPE is a standout buy.

I wont bore you with what I have already posted before but I have queried JK's salary with him as it is excessive...for instance RPM's Spiller is on about $110k.

Unless you know something I dont then I think it is too early to write off the investment in Greenearth. Shows a bit of vision and is certainly in line with Rudd's thinking.

I need to speak again with JK regarding the Odin stance. A week or so ago he was of the opinion that he would not be happy to stay and see his other Directors go...as per the Odin proposal. It was a matter of loyalty.He didnt say he would resign if that was the case but he has a strong feeling of loyalty.

It irritates me to read Fast Eddie's letter 25 January where he states that Odin has apparently struck a deal with Vic Pet's managing director to remove all current non executive directors.This is not what I understand from talking to JK.... However I do understand that things do change.

All VPE has to do is enact its plan. It doesnt need any help from Odin and Fast Eddie.

1.It will have gross revenue in 2008 of about 6.5 million (down a bit due to the weather at Growler.)

2. It has upside at Growler and other associated fields

3.It may be able to realise some good cash from the USA

4.It has BOW as the Operator of Don Juan which could realise 60 cents from this alone.This is on track.

5.It has a very good 20% interest in PL 171 managed by RPM which could prove up 1.176 TCF of CSG (20% to VPE )

6.It has a 30% share of a CSG permit with none other than Queensland Gas Co looking at a resource which was stated as 50 BCF but as per a special StockAnalysis report QGC are now saying that a 'desk top' study has got them thinking about 1000 BCF !!

There are a lot of things in the pipeline.

I dont want any nasty surprises from opportunists who have seen their own company's sp slide.

I will keep learning and do appreciate everyone's posts.