gday guys,I am new to VPE (today).I hope the new holders move to...

gday guys,

I am new to VPE (today).

I hope the new holders move to sack the old guard and restructure the company to help exploit its excellent assets.

If the new chairman has put forward the options then I think they should go through, though the strike price should be increased somewhat.

There is obviously some bad blood here; but you should probably remain objective about the current situation VPE find themselves in. 15 years ago there was not a budding multi-billion dollar CSG industry. The fact is that VPE has some very very very tender slices of the pie and they will be sought after for their commercial value to any future LNG business. So put your old cap away and put your new objective thinking cap on and think about where VPE is headed (..hopefully they will speak to a marketing agency and update their brand as well as their 90s style internet web page). I think VPE holders are going to do well in the next 12 months and it is better to be happy and rich than bitter and rich.

A takeover is not the only way out of this. BG could also simply purchase the relevant interests from VPE. This would be a bad result in my mind.

If a takeover were to occur, I think the numbers that will come through on the resource will be a little understated. Anyone thought of BGs interest in proving up the entire field only to have to pay more when it seeks complete control of the asset. Same thing happened with Sunshines permits, though it was sunshine who seemingly took longer than expected to get the drilling results out for their northern permits and Polaris permit (near 171/574).

If they dont even consider an increase to the option price then imo that would be an indication the BG offer is going to be low ball (still good on the current SP but low on the asset value) but most major holders will accept.

Good luck to holders. I might wait til after Feb before getting in more.

Cheers,

SF