I've been a 2 year holder of VPE. Now with this new management seems interesting.
The CEO and two other top executives are ex-QGC background (now BG Group).
The proposed changed of name from Victoria "Petroleum" to Senex Energy is a reflection of shift from just oil and petroleum business to include energy emphasising a focus on areas such as CSG (or maybe other unconventionals such as shale gas).
Bear in mind QGC is a CSG focused business, so I wouldn't be serious to see new management to be CSG focused than oil. To raise more capital on top of the $30m plus in the coffers, seems to be more M&A, than organic growth in Cooper Basin.
In my opinion, a friendly merger with Metgasco (MEL) would make sense with the extra cash being raising. A part-scrip/cash offer is best.
VPE Price at posting:
38.5¢ Sentiment: None Disclosure: Not Held
