Victoria Petroleum (VPE) has finally commenced upwards. Over the last two days the share price has gone upwards by around 24% and is now sitting on 28 cps( cents per share.)

The main reason for this rise is due to an oil diccovery at it’s “Tomcat” prospect in the Cooper Basin. Which has yet to be tested as to how much oil there is.
But it definitely looks promising.

The part that I like is they have planned a further 7 wells to be drilled in the same area.And this is just the start.

They have put out a shareholders report yesterday which outlines ALL their future plans.

This can be viewed at www.asx.com.au It makes for an interesting read.

I checked the market depth and there are 79 buyers who are wanting more shares than what is currently available and only 54 sellers.

Obviously the laws of supply and demand come into play, therefore the only way prices can go is upwards.

Another noteworhy thing is that VPE is the featured “Buy” in todays Bulletin”” in the “Speculator” column.
As I have said in the past readers take notice of his tips so I will be watching this stock very closely over the next few days or so.


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