Hi GS, your post is very correct. As I speak the monsoon trough...

Hi GS, your post is very correct. As I speak the monsoon trough increases/ Rain continues, We have had 500mm todate for Dec. had 530mm for November. Expecting more than 100mm per day for next 3 days, Including Xmas. We have property west of Mackay. The west has had the wettest spring on record and cooper runs high. The water from inner Queensland flows generally southwest.
I do not think VPE has a snowballs chance in hell in getting 2 rig's drilling in Jan 2011.
Eddie made his call and it IMHO was the best achieveable result for shareholders for the next 12months.
I supported a 3c CR back a while. So did Tui. Many other's did not nor did they at 5 cents. The company Impress would have struggled and required a CR within the next 12 months for funding of a pipeline and drilling. Eddie has already dug deep many times and never sold on market. Nor did he give himself cheap options.
Impress is cheap but the raingods stuffed the sale for fair value going forward.
VPE will need another CR next year or sell some assets. imo. 247