name change, page-18

in full support.

Re VPE's CSG assets, these are nice but are only small parts of someone else's pie. Their cash-flow is also still miles away and they will need much funding prior to proving returns to VPE.

Now the oil on the other hand IS producing and much of the development costs HAVE been paid for VPE, and holds its largest 60% of that pie.

So what makes sense in the immediate future from the new team?

Maybe a move to control 100% of its oil assets.

This would:

a) add substantial cash-flow immediately

b) remove the current $$$ discount for not holding all (i.e. control and benefit) of the oil project AND achieve 100% exposure to the rerating of this assets value.

c) secure all of a very prospective set of permits, refer recent seismic data etc, BEFORE another local player does. Remember, drilling 20-30 new targets (from poring over seismic for last x months kicks off straight after xmas and what is the past success rate ; )

d) provide a BIG kick up to the newly rebranded SENEX. Runs put on the board from the new board and m. team


Conclusion: MORE Cooper oil is CORE to SENEX's growth.