A one-dimensional electrostatic sheet model of a coaxial geometry Virtual Cathode Oscillator (VCO) is presented. The cathode is centrally located and connects to a peripherally located plate electrode to form a resonant cavity, and is thus considered to be a novel design. Charge is modelled as concentric sheets about the cathode whose absolute position and velocity are determined as a function of time by solving the relativistic equations of motion. The model predicts the formation of a virtual cathode between the grid and plate electrodes for the case of a space-charge limited current. Setting the electron reflexing frequency (as a function of the grid potential) comparable with the cavity resonant frequency is predicted to improve the efficiency of microwave emission.