RBS Morgans senior oil analyst Nik Burns likes Victoria Petroleum because it offers a combination of oil and gas. The company’s oil production gives it near-term revenue and it is in a joint venture with a BG Group company on its two CSG permits. He said it would be logical for BG to source some of the gas for its proposed LNG plant in Queensland from VPE.
BG holds just over 11% of Victoria Petroleum but did not take up its share of a capital raising last year so is not thought likely – for now at least – to be interested in a bid for the junior.
http://www.thebull.com.au/articles_detail.php?id=10274
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