Victoria Oil & Gas Share Discussion Threads

[sleveen] 04/5/2017 09:09

NO it hasn't.

Negotiations relating to contract renewal continue...

Victoria Oil & Gas Plc announces that negotiations continue between its wholly-owned subsidiary, Gaz du Cameroun S.A. ("GDC"), Altaaqa Alternative Solutions Projects DWC-LLC and ENEO Cameroun S.A. ("ENEO"), in relation to the contract renewal for the supply of gas.

[fatnacker] 04/5/2017 09:04

Read the contract lowflow, it can be extended by mutual agreement, and it has been according to the last rns, headless chicken.

[lowflow] 04/5/2017 08:48

Eneo contract issues
Lets look at it for what it is.
The Eneo contract expired 22 April, or 12 days ago. There is clearly an issue here if the contract hasn't been extended even after it has expired. VOG mgmt is trying to comfort the market with sending out RNS saying that all is going just fine. But I think they passed the definition of going just fine when the contract wasn't extended before it expired.

+50% of VOG revenue is coming from the ENEO contract, its instrumental for VOG to get it renewed but its now becoming a real issue.

[highasakite] 03/5/2017 13:42

The 2 year old deal with ENEO that has just expired was agreed when the oil price was very similar to todays price of $51

[deutsch3] 03/5/2017 13:21

I remember a lot of talk about the price agreed being influenced by low oil prices in the past(wrongly) - However higher oil prices now must have a beneficial influence possibly( probably only psychologically if at all) - There should be no downward pressure however!

[larry laffer] 03/5/2017 12:50

It will be as important for ENEO as it is for vog to come to an agreement over gas supply.

Having paid $9 per unit for the last lot you would think that they would easily agree to $9 for renewal at the same scf's.

Its only if they want more that they will want to reduce the contracted price to reflect the reductions in cost due to voluem. i.e. how much it costs to provide a scf after the fixed costs are covered.

They may want significantly more gas which means a drop in the overall price per scf.

The new wells plus matanda plus Bomono will give them certainty in the supply.

Theres one thing for sure we aren't giving it away yet.

I do remember talking to FOO some years ago about the risk applicable to VOG whilst supplying the network from one location. That looks to be sorted now.

[deanroberthunt] 03/5/2017 11:11

imminent could mean anything.....1 minute to 3 months

in terms of the universe the sun becoming a red giant is imminent

[highasakite] 03/5/2017 10:51

Recent updated broker note also said "imminent ENEO deal" and that was about 10 days ago.

[deanroberthunt] 03/5/2017 10:43

depends on your interpretation of close.....end June mid July imvho earliest, after completing drilling

[highasakite] 03/5/2017 09:40

ENEO contract news very very close.

[baticle] 02/5/2017 19:28

Bit of drop today... Some holders losing their patience perhaps ?

[fatnacker] 02/5/2017 19:12

On not much volume,

[highasakite] 02/5/2017 18:52

sharply ? 5% ?

[trulyscrumptious] 02/5/2017 18:00

This went down sharply, is there something up?

[fatnacker] 27/4/2017 17:55

No doubt he'll claim to have made a profit despite that.

[highasakite] 27/4/2017 17:39

MTL now 3p and going down fast.

Prowler has therefore lost about 50% of his cash.

What a clown.

Should have bought VOG.

[fatnacker] 27/4/2017 16:53

lmfao

"
peterpowell21 - 18 Oct 2016 - 09:13:14 - 843 of 1749 Metals Exploration - The Investors thread - MTL


i could not get any shares at 5.75 either.
but i did get them at 5.76 on a spread bet with ig
"

[deutsch3] 27/4/2017 13:53

Absolutely superb! - They will need gas for process and of course lots of electricity.
No-one will be fighting too hard in the negotiations to settle a new contract for generation. - everyone is a winner in Cameroon now.- Good times!

[highasakite] 27/4/2017 12:24

Just tweeted by VOG:

hxxp://www.cp-africa.com/2016/01/20/cameroon-mira-company-builds-a-million-ton-capacity-cement-factory/

[fatnacker] 27/4/2017 08:30

indeed baticle if there was another player eneo might well be playing hardball but that's not the case so we can almost dismiss that possibility, I'll throw a possibility into the mix, might be that Altaaqas the sticking point? they might be playing hardball with eneo?

[broncowarrior] 27/4/2017 08:28

I've only got a tiny amount left and will reload once these drills are done, not too worried about the contract renewal given BLVN's woes.