For background information, what computer operating system is your Premiere Elements 12 running on? And, have you gone from the 12 to 12.1 Update (See Help Menu/Update of an opened project). If not, please do so. What exactly do you want to do with this "vob"?
You cannot export/save your Premiere Elements Timeline content to a standalone file with a .vob file extension to the computer hard drive (Such as Publish+Share/Computer/......)
In the Publish+Share/Disc/.....
If you take your Timeline content to DVD-VIDEO format (burn to folder or burn to disc) the video files in the VIDEO_TS Folder of the DVD-VIDEO structure will have within it video files with the vob file extension which wraps/contains MPEG2 video compression.
Please let us know if any of the above answered your question. If not, please give more details.
Thanks Romano all go!!
Thanks for the follow up.
If any questions arise or need clarification, please do not hesitate to ask.