where's the vpe takeover guys?, page-3

That's the way I see it too Wasa.

VPE know the value of ITC's oil portfolio and likewise ITC know the value of VPE's oil portfolio. With the prices of both ITC and VPE so low a 10% blocking stake makes sense to stave off any unwanted predator having a crack at ITC.

As I have said before I am picking a VPE takeover of ITC using cash and scrip when the time is right. I don't think it would make sense at the moment as VPE is completely undervalued. That should improve during the year as their drilling program ( 2 rigs ) gets into action. ( Plus of course further progress will be made on their CSG ).

I certainly am NOT picking a takeover of VPE's oil assets by ITC. Out of the question as far as I am concerned. VPE has a great program lined up for the Cooper Basin and it wants to complete it.

Great to meet with you at the Hong Kong Football Club. That place must be worth a fortune.

ps Don't forget that Robert Bryan holds 10 million ITC. A very savvy individual.( ex QGC and actually appointed Cottee... and we know what Cottee did for QGC.)

Even in today's economic climate ITC rates as a very strong
buy.