Thanks Bunya.RBS did underwrite the recent raising and would...

Thanks Bunya.

RBS did underwrite the recent raising and would have a lot of clients in VPE as a result, so no surprises that they are recommending it... but:

I agree with them! CSG alone is worth a mint and in recent announcement indicated they (well, BG) aren't far off drilling PL171. BOOM! Then there are the ever increasing oil sales... Personally I think they are more likely to sell their CSG assets to BG than a takeover. Given the recent activity in the CSG assets in the area (i.e. VPE selling some CSG in exchange for oil), it looks to me like VPE are going to focus on oil development.

Lots of negative sentiment hanging around and also the recent raisings keeping a lid on things. I haven't held all that long so the only negative for me was the recent SPP coming out of the woodwork - shortly after company said no raisings were necessary! Possibly looking to acquire ITC or something? Just a thought.

Trying to work out where I can come up with the coin to convert oppies! Think the bank will be getting a call...