Also as part of the agreement, Timothy Hoops has stood-down as an existing director of VicPet, while his colleagues Robert Pett and Bernard Wrixon will stay on as non-executive directors.
Joining them is Denis Patten, a former founding QGC director - also appointed non-executive chairman - Alex Bajada, Odin's chairman, and Anthony Short, an Odin director.
The new arrangement follows a warning by VicPet three weeks ago that Kopcheff would resign if Odin took control of the board.
But Kopcheff says the stand-off has now been resolved, Odin has representation on the board but does not control it, and and the expanded team "aligns the interests of major shareholders to ensure a stable and united board".
VicPet says the new board aims to maximise the value of the company's coal seam methane and Cooper Basin assets.
Outside of these areas, VicPet holds interests in various onshore projects in the United States.
"Victoria Petroleum is confident that with its strong asset base, strategic plans and the energy and experience of its newly constituted board, the prospects for the company and its shareholders are bright," it said.
