I've only been a holder for a relatively short time (I hold Oppies too so hasn't been profitable!), however I think we need to consider the reasons for the Cap Raising.
Firsty, I hate it when stocks like VPE do raising after raising, only to have directors stick their noses in the trough and line their pockets. It's wrong, unethical, and almost a reason to not hold the stock by itself.
HOWEVER... If the raising is to further develop/increase production at their existing wells, I can't say it's all bad.
Finally, increasing oil production, increasing oil price and a great success rate for exploration probably shows VPE as undervalued on this basis alone... but then consider the huge CSG resource they are sitting on (and currently testing) and the fact they are surrounded by the big boys.... I think it's seriously under valued.
Next time I'd like to see VPE leave out the part in their reports that says future exploration/development can be funded from existing oil sales (as they must have known at the time they would be doing a raising).
VPE Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
