Victoria Oil & Gas Share Discussion Threads

[fatnacker] 26/5/2017 08:05

Mixed bag but the mention of that extra gas to power contract is the diamond in a goats ass.

[abacus2] 26/5/2017 08:00

Unfortunately Clunes we always seem to have positive potential going forward , but it always seems to disappear just as we should be reaching it!

[clunes100] 26/5/2017 07:54

Ev en with right down, the share price under values the assets held by VOG.

The big right down also clears the decks for future accounts.

West med very much back in the picture, totally written down, so any gain here goes to the bottom line.

It seemed to me that this report is the clearest and most comprehensive that we have seen.

A couple of short term negatives but increasingly positive potential going forward.

[sleveen] 26/5/2017 07:52

The only reason that there has been an increase in gas sales is that there is a full year of gas sales to the 2 power stations.

VOG should have included a set of "pro forma " accounts for the 12 months to Dec 15, to aid a comparison of performance.

The interim accounts will show an attributable fall in sales due to the 60/40 split.

I see there is a statement that power supply to Duoala is improving generally (allow VOG gas still needed)


Seems like a note of caution to me.

[abacus2] 26/5/2017 07:52

Unfortunately it is typical VOG , nothing is ever what it seems! Always promising, but always dissapointing !Roll on the AGM there are so many questions that need answering.

[baticle] 26/5/2017 07:43

Duplicated Post

[baticle] 26/5/2017 07:43

It's a bit of mixed bag, Negatives.... the write of La 106 down is a bummer although operationally it was always a back up well to La 105 as it's flow rate was considerably lower than 105 nonetheless still not great. The positives are that VOG should get this new well on stream without having to raise more cash and with that up and running going forward should generate more cash.
Another bad point is will knock the share price a bit...hope I'm wrong but I can see 55p ish, good If your a buyer or looking to get back in, bad, If you're looking to realise your investment.. and have paid a decent whack for your shares

[pjj71] 26/5/2017 07:27

Shareholder approval will be sought at AGM on 28-Jun for a capital reduction, comprising cancellation of the deferred shares and a reduction of the Company's share premium account. The Board considers it desirable to effect the capital reduction to be in a position to make dividend payments or other distributions to Shareholders as and when suitable circumstances arise

[deanroberthunt] 26/5/2017 07:23

trouble is, the bored have left, so, we're left with the not so bored, and the never get bored....the not so bored may leave the building now...

[deanroberthunt] 26/5/2017 07:22

aye big chunk off the NAV

[pjj71] 26/5/2017 07:21

Nice:

"Once results for the drilling programme are known, GDC will then be in a position to commit to negotiations that have been ongoing for some time with additional larger gas-to-power projects."

" With recovering oil prices, and improved investment climate in Russia, the sale potential has increased and initial marketing approaches have begun to potential buyers. We will continue to seek a solution that is in the best interests of the shareholders."

[nbaki] 26/5/2017 07:16

I think there will be big sell off today because of this big unexpected write off.

[deanroberthunt] 26/5/2017 07:10

nay worries, read the detail further down....

seems like a mixed bag to me, some good stuff, some not so good.

[deanroberthunt] 26/5/2017 07:07

why the big writedown on La-106?

[fatnacker] 25/5/2017 14:25

constant buy orders come in as soon as the offer drops, loads of rollovers going through for a couple of weeks now.

[deanroberthunt] 25/5/2017 13:26

this is the trouble with large delays, you lose momentum

[clunes100] 25/5/2017 13:25

ought too early today - annoying, let's hope for bounce.

[deanroberthunt] 25/5/2017 13:19

that's too early by far....

[deanroberthunt] 25/5/2017 13:17

looks like 52p could be tested...oh well

[highasakite] 25/5/2017 13:01

ENEO deal update.

News will come after well test results I am told.

2nd/3rd week in June.

[clunes100] 25/5/2017 12:50

With the AGM at the end of June, they will want to make announcements at that time. Good news across the board at that time will be cause for celebration and any of the other issues niggling shareholders will be lost in the noise.

The BoD needs to remove perceived risk associated with the drilling and cost overruns and reassure shareholders that there is enough in the pot to continue with all programmes. The icing on the cake would be an announcement of a new and larger ENEO contract for at least 5 years off take.

[pauliewonder] 25/5/2017 11:53

Clunes - May be a good time because it seems to be bouncing around at these levels, may have found support before moving up on news which surely must be sometime soon.

[clunes100] 25/5/2017 11:50

Added today on the basis that we should have some good news soon and at least the final results, an update and the BoD briefing at the AGM should at least give us better clarity and hopefully remove some perceived risks.