VPE 0.00% 41.5¢ victoria petroleum nl

withholding of truth...

  1. 618
    1,869 Posts.
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    http://imagesignal.comsec.com.au/asxdata/20080225/pdf/00815513.pdf

    "...In the Wirraway No. 1 discovery well, the oil reservoir was damaged during drilling/completion and hence has a production capacity of only some 50 barrels per day..."

    OK, it's not price sensitive, but why was this not disclosed by VPE themselves since they were supposed to be the operator? It would seem that not only has VPE lost control of the acreage with ITC now seemingly the operator, they are also not reporting anything that may hurt their chance of defending their board positions!

    How many times have us long term holders been through this? Mirage, Eagles, FB, now Wirraway. What's next? Thank God they are not operator of the CSG plays or they'd probably find a way to flood the coal seam with water!

    Emotional? Not really. Had enough? Yes. Who to vote for? No idea, but it certainly won't be the current board - who can shove one of the damaged drillbits from Eagle North up their proverbial rear end and go take a hike! LOL...

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