The recently announced placement by vpe to qgc is a very...

The recently announced placement by vpe to qgc is a very interesting development.
Seems we are lucky enough to find ourselves in the middle of the latest commodity boom - Coal seam gas.
Takeovers are rife
QGC now sits alongside Odin with nearly 20% of VPE a piece
and both parties sitting on the board.
Part of the deal entails a gas marketing agreement and a technical advisory agreement.
This is huge for Vicpet and subsequently huge for Odin shareholders.

As it stands Odin already sits on a very tidy paper profit on its VPE investment although the market has failed to recognise this. Based on ODIN's VPE holding ODN should be trading at atleast 14c. Bargain at current prices.
I also believe that VPE is still heavily discounted, although not for much longer. Wont be long before we see VPE trading near 50c, imo.
That would put value of ODN 50m VPE shares at $25m.

So i suppose the obvious question is where are QGC going with this ? Will they move to take out VPE or will Santos or similiar step in ? Bigboys sure seem in a hurry to lock up csm assets anyway they can.

VPE should re-rate fairly quickly on this news and speculation of a full takeover and via its VPE holding Odin should follow.