Share Name Share Symbol Market Type Share ISIN Share Description
Victoria Oil & Gas LSE:VOG London Ordinary Share GB00BRWR3752 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.625p -2.53% 62.50p 62.25p 65.00p 65.00p 63.50p 63.50p 387,480 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 26.5 -24.3 -23.3 - 69.11

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Trade Time Trade Price Trade Size Trade Value Trade Type
2017-10-20 15:53:3762.5447,65129,799.44O
2017-10-20 15:53:0464.2512,0007,710.00O
2017-10-20 15:35:0562.5045,52028,450.00UT
2017-10-20 15:29:2863.502,0001,270.00AT
2017-10-20 15:28:1363.415,0003,170.63O
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DateSubject
20/10/2017
09:20
Victoria Oil & Gas Daily Update: Victoria Oil & Gas is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker VOG. The last closing price for Victoria Oil & Gas was 64.13p.
Victoria Oil & Gas has a 4 week average price of 58p and a 12 week average price of 45p.
The 1 year high share price is 81.50p while the 1 year low share price is currently 28.75p.
There are currently 110,571,762 shares in issue and the average daily traded volume is 265,512 shares. The market capitalisation of Victoria Oil & Gas is £69,107,351.25.
19/8/2017
18:40
highasashite: Endless DILUTION RNS 17/02/2010 "It is also important to stress that our plan is to fund this leg of Logbaba's development with debt or trade financing and not to tax further our shareholders. We have already had interest from a number of local and international banks in this regard and will be able to crystallise these as solid data from the wells becomes available." Then this......................................... Dilution RNS 01/03/2010 Placing of 430,769,231 new shares Dilution RNS 01/09/2010 Placing of 368,000,000 new shares Dilution RNS 16/11/2010 Placing of 183,708,612 new shares Dilution RNS 27/09/2011 Placing of 292,307,687 new shares Dilution RNS 01/06/2012 Placing of 105,000,000 new shares Dilution RNS 06/11/2012 Placing of 154,673,512 new Ordinary Shares 6,256,608 Ordinary Shares in lieu of a cash payment due to its technical advisors, for work completed during the last six months, at a price of 2.27 pence per Ordinary Share; ii) 63,500,000 Ordinary Shares to the Trustee of the VOG Employee Share Ownership Plan, in accordance with the terms of this scheme; and Number of new Ordinary Shares allotted Kevin Foo 728,904 Robert Palmer 177,180 Plus £2,000,000 drawdown of £10,000,000 SEDA RNS 21/12/2012 - Placing - The Company has allotted 21,832,533 Ordinary Shares in lieu of a cash payment due to a major Cameroon supplier, for work completed during the year, at a price of 2.25 pence per Ordinary Share. Dilution RNS - 6 February 2013 placing of 1,465,329,020 new ordinary shares ("Placing Shares") at a price of 1.6 pence per share Dilution RNS - 20 December2016 Victoria Oil & Gas announces that yesterday Mr Ahmet Dik elected to receive part of his compensation as Chief Executive by subscribing for 697,836 new ordinary shares of 0.5p in the Company ("Ordinary Shares"). The new Ordinary Shares have been issued at 28.66p per share Dilution RNS Issue of Shares in Lieu of Bonus Thu, 8th Jun 2017 07:00 RNS Number : 4751H Victoria Oil & Gas PLC 08 June 2017 Victoria Oil & Gas PLC (AIM: VOG) 8 June 2017 Victoria Oil & Gas Plc ("VOG" or "the Company") Issue of Shares in Lieu of Bonus Victoria Oil & Gas Plc announces that bonus awards have been made to certain employees of and consultants to Gaz du Cameroun S.A., the Company's wholly-owned subsidiary, for the year ended 31 December 2016 and that they have elected to receive this by subscribing for new ordinary shares of 0.5p in the Company ("Ordinary Shares") at 41.5 pence per share, being the volume weighted average share price for the period 1 January 2016 to 28 April 2017. Accordingly, in aggregate, 378,664 new Ordinary Shares have been issued and application has been made to the London Stock Exchange for the admission of the new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 13 June 2017. Following Admission, the Company will have 110,571,762 Ordinary Shares in issue.
19/8/2017
18:34
highasashite: RNS 17/02/2010 "It is also important to stress that our plan is to fund this leg of Logbaba's development with debt or trade financing and not to tax further our shareholders. We have already had interest from a number of local and international banks in this regard and will be able to crystallise these as solid data from the wells becomes available." Then this......................................... Dilution RNS 01/03/2010 Placing of 430,769,231 new shares Dilution RNS 01/09/2010 Placing of 368,000,000 new shares Dilution RNS 16/11/2010 Placing of 183,708,612 new shares Dilution RNS 27/09/2011 Placing of 292,307,687 new shares Dilution RNS 01/06/2012 Placing of 105,000,000 new shares Dilution RNS 06/11/2012 Placing of 154,673,512 new Ordinary Shares 6,256,608 Ordinary Shares in lieu of a cash payment due to its technical advisors, for work completed during the last six months, at a price of 2.27 pence per Ordinary Share; ii) 63,500,000 Ordinary Shares to the Trustee of the VOG Employee Share Ownership Plan, in accordance with the terms of this scheme; and Number of new Ordinary Shares allotted Kevin Foo 728,904 Robert Palmer 177,180 Plus £2,000,000 drawdown of £10,000,000 SEDA RNS 21/12/2012 - Placing - The Company has allotted 21,832,533 Ordinary Shares in lieu of a cash payment due to a major Cameroon supplier, for work completed during the year, at a price of 2.25 pence per Ordinary Share. Dilution RNS - 6 February 2013 placing of 1,465,329,020 new ordinary shares ("Placing Shares") at a price of 1.6 pence per share Dilution RNS - 20 December2016 Victoria Oil & Gas announces that yesterday Mr Ahmet Dik elected to receive part of his compensation as Chief Executive by subscribing for 697,836 new ordinary shares of 0.5p in the Company ("Ordinary Shares"). The new Ordinary Shares have been issued at 28.66p per share Dilution RNS Issue of Shares in Lieu of Bonus Thu, 8th Jun 2017 07:00 RNS Number : 4751H Victoria Oil & Gas PLC 08 June 2017 Victoria Oil & Gas PLC (AIM: VOG) 8 June 2017 Victoria Oil & Gas Plc ("VOG" or "the Company") Issue of Shares in Lieu of Bonus Victoria Oil & Gas Plc announces that bonus awards have been made to certain employees of and consultants to Gaz du Cameroun S.A., the Company's wholly-owned subsidiary, for the year ended 31 December 2016 and that they have elected to receive this by subscribing for new ordinary shares of 0.5p in the Company ("Ordinary Shares") at 41.5 pence per share, being the volume weighted average share price for the period 1 January 2016 to 28 April 2017. Accordingly, in aggregate, 378,664 new Ordinary Shares have been issued and application has been made to the London Stock Exchange for the admission of the new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 13 June 2017. Following Admission, the Company will have 110,571,762 Ordinary Shares in issue.
17/8/2017
09:05
lowflow: Nothing has changed the company is running out of cash and the mgmt is trying to ramp the share price. Q3 and Q4 are two weakest quarters for VOG, due to lower demand from Eneo temp. power generation plant as Eneo can use hydro power during the rainy season instead of expensive gas power. In Q3 2016, VOG generated net revenue of $4.7m. I am expecting that VOG net revenue will decrease slightly in Q3 2017, due to the lower gas price achieved on the Eneo contract and due to lower realized price for thermal and retail power gas. Its being compensated partly by higher volume sold in the Thermal and Retail segment. I am getting to a net revenue est of $4.5m in Q3. My estimate for Q3 looks like the following: $4.5m net revenue -$0.63m total production royalties -$4.5m production and other costs -$0.63m gross profit -$3.5m SG&A -$0.65m financial interest -$4.78m loss before taxes Parts of the production and other cost are depreciation, so no cash outflow. After adding back depreciation, I am getting to operating cash flow of -$1.3m. As I have showed before, is the drilling operation costing $1.3m per week for the consortium, and currently $0.78m per week for VOG for their current 60% interest (before SNH gets 5% in the project). VOG cost for the drilling based on my number will be $10.8m and on top of that, I am expecting that they are spending $1.5m on other capex (infrastructure, Matanda project etc). Total cash burn for the Q3 would therefore be: -$1.3m operating cash flow -$10.8m drilling -$1.5m other capex Total cash outflow $13.6m VOG had debt facilities of $34m of which they had utilized $28.3m by end of Q2. Which gives them an available capacity of $5.7m and the company had cash of $7.6m by the end of Q2 according to the last RNS. Giving them total cash and debt facilities available by Q2 end of $13.3m Based on my estimates VOG will burn $13.6m in cash in Q3 while current cash and debt facilities are only $13.3m, meaning that they will run out of cash. The cash burn will continue in Q4 as that is also low season for gas sales and the drilling operation of 108 will continue in Q4. VOG need new credit facilities or they need to raise equity.
15/8/2017
13:22
lowflow: I wouldn't be surprised if VOG BOD is currently in discussion with its broker about a capital increase and that is leaking out putting pressure on the share price. Q3 and Q4 are two weakest quarters for VOG, due to lower demand from Eneo temp. power generation plant as Eneo can use hydro power during the rainy season instead of expensive gas power. In Q3 2016, VOG generated net revenue of $4.7m. I am expecting that VOG net revenue will decrease slightly in Q3 2017, due to the lower gas price achieved on the Eneo contract and due to lower realized price for thermal and retail power gas. Its being compensated partly by higher volume sold in the Thermal and Retail segment. I am getting to a net revenue est of $4.5m in Q3. My estimate for Q3 looks like the following: $4.5m net revenue -$0.63m total production royalties -$4.5m production and other costs -$0.63m gross profit -$3.5m SG&A -$0.65m financial interest -$4.78m loss before taxes Parts of the production and other cost are depreciation, so no cash outflow. After adding back depreciation, I am getting to operating cash flow of -$1.3m. As I have showed before, is the drilling operation costing $1.3m per week for the consortium, and currently $0.78m per week for VOG for their current 60% interest (before SNH gets 5% in the project). VOG cost for the drilling based on my number will be $10.8m and on top of that, I am expecting that they are spending $1.5m on other capex (infrastructure, Matanda project etc). Total cash burn for the Q3 would therefore be: -$1.3m operating cash flow -$10.8m drilling -$1.5m other capex Total cash outflow $13.6m VOG had debt facilities of $34m of which they had utilized $28.3m by end of Q2. Which gives them an available capacity of $5.7m and the company had cash of $7.6m by the end of Q2 according to the last RNS. Giving them total cash and debt facilities available by Q2 end of $13.3m Based on my estimates VOG will burn $13.6m in cash in Q3 while current cash and debt facilities are only $13.3m, meaning that they will run out of cash. The cash burn will continue in Q4 as that is also low season for gas sales and the drilling operation of 108 will continue in Q4. VOG need new credit facilities or they need to raise equity.
07/8/2017
13:05
lowflow: I am aware that SNH is going to take 5% in in the Logbaba project. However, I very much doubt that this will solve VOG balance sheet/financing issues, due to the following reasons: 1. Cameroon government bureaucracy is among the slowest in the world, which anyone who has followed VOG has seen. It took VOG ages to get the exploitation license for the Logbaba project, and as we all know the authorities have not yet approved VOG farm-in to the Bowleven assets. This is just two examples of how slow the Cameroon government / SNH is. My best guess is that it will take at least 9 months probably much longer before SNH audit of VOG past cost is completed. VOG needs to fix the balance sheet over the coming months no at some point next year. On top of this, there is a significant risk that there will be a disagreement between VOG and SNH what the past cost has been. I doubt that SNH wants to pay for VOG excessive SG&A cost and they may even say that they dont want to pay for VOG cost overrun on the drilling operations. 2. VOG is selling 3% of the project to SNH, going down from 60% to 57% interest. The value of this 3 % will be VOG expenditure net of revenues they had so far. If you take a few minutes and have a look in VOG old annual reports and add together capex related to Logbaba net of the revenue they have generated you will see that 3% of this amount is nothing in comparison to the net debt they are building up. My view is unchanged, I think VOG will be coming to the equity market to fix the balance sheet. I can see how it will be sold, Kevin will say "This is the last capital increase before we can start to capitalize on the increased production capacity and potential larger gas to power contracts" and it might be attractive to participate but new money investor won't pay more than 40p for the new share or more likely around 35p per share. As a comparison, have a look at Pantheon Resources the past 9 months, the mgmt said we dont need to raise equity (they don't even have debt), we are just going to do some non-deal road shows. But slowly is the market picking up to the fact that they need equity and this results in that the share price gets pushed down lower and lower. And at the end of the day they raised new cash, and so will VOG do as well. Capital increase at 35p here we come.
27/6/2017
15:34
highasakite: House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."House broker Shore Capital...has retained a ...170p share price target set last year."
06/3/2017
07:25
blakieboy7: Victoria Oil & Gas PLC Bomono farm-out agreed between BLVN and VOGIntraday Victoria Oil & Gas ChartIntraday Victoria Oil & Gas Chart06/03/2017 7:00amUK Regulatory (RNS & others)TIDMVOGRNS Number : 5450YVictoria Oil & Gas PLC06 March 20176 March 2017Bowleven plc ('Bowleven') and Victoria Oil & Gas plc ('VOG')Bomono farm-out transaction agreed between Bowleven and Victoria Oil & GasBowleven plc, the Africa focused oil and gas exploration group and Victoria Oil & Gas Plc, an integrated energy company with operations in Cameroon, both trading on AIM, are pleased to announce that they have signed a farm-out agreement ("the Agreement") relating to the Bomono production sharing contract ("Bomono PSC").Gas produced from the Bomono PSC will be fed into the customer distribution network owned and operated by Gaz du Cameroun S.A. ("GDC"), a wholly owned subsidiary of VOG.First gas supply to the GDC network is anticipated to start following granting of a Provisional Exploitation Authorisation ("PEA") and other approvals.Strategic rationale:This Agreement, which has been negotiated by the parties over several months, aligns Bowleven's intention of realising near term value from Bomono through commercial production of its Bomono gas deposit with VOG's business of commercialising local onshore gas deposits using its established gas infrastructure and customer network.The transaction provides the ability to minimise the timescale to first production and optimises the proven advantages of Bowleven's upstream expertise and VOG's established gas supply business that feeds a diverse range of industries and the local power grid.The initial plan is that gas currently suspended at Moambe be brought onstream and that further drilling be considered to supply the growing domestic market in and around the Douala area.Farm Out Highlights-- On completion, EurOil Limited ("EurOil"), a Bowleven subsidiary, will have a 20% working interest in the Bomono PSC and GDC Bomono S.A. ("GDC Bomono"), a wholly owned VOG subsidiary, will have an 80% working interest. -- Bowleven will remain as operator of the project.-- Gas from Bomono PSC will be sold to GDC less a tolling fee. The gas price paid will be a weighted average received by GDC for its total domestic sales less a tolling fee for use of the pipeline network.-- The pipeline connection from the Bomono PSC to the main network will be managed and funded by GDC. GDC Bomono will complete the civil engineering works necessary for the gas processing plant installation at the Bomono site. The estimated capital cost for these works is US$6 million.-- Bowleven has agreed to pay GDC Bomono 50% of any deficit, limited to a maximum payment of US$2 million, if the first 3 years of net income received by GDC Bomono is less than the development expenditure incurred.-- EurOil will receive a 3.5% royalty from GDC Bomono's production share of hydrocarbons, with an aggregate cap limiting the total royalty payments to US$20 million.-- Bowleven will, on completion, also receive GBP100,000 worth of new ordinary shares in VOG based on the volume weighted average share price 10 days preceding the date of the Agreement, being 69.23 pence per share. It is the intention of Bowleven to retain these shares initially, but keep that decision under regular review as there are no restrictions on their disposal.Asset Details:The farm-out transaction relates to the Bomono PSC, onshore Cameroon. EurOil is operator of the Bomono PSC.Bowleven completed extended well flow tests on the Moambe well that exceeded 7mmscf/d. The Moambe and Zingana exploration wells drilled at Bomono were then suspended as future producers.As previously announced by Bowleven, the detailed prospect inventory prepared indicates there is 146bcf and 263bcf of mean un-risked GIIP in the Tertiary and deeper Cretaceous reservoir intervals respectively.Additional Transaction Details: -- The economic effective date of the transaction is 1 January 2017.-- The above interests are expressed prior to the exercise of any back-in rights by the Cameroon State. Under the terms of the Bomono PSC, the Cameroon State has the right to take a 10% participating interest in development activity undertaken under an exploitation authorisation. -- Completion is subject to, amongst other things:Ø The grant of a PEA over the Bomono PSC. The PEA application was submitted by Bowleven to the Cameroon authorities as requested following Ministerial approval for the award of a two-year extension to the Bomono PSC (to 12 December 2018);Ø The approval by the Cameroon Government of the assignment of the equity interest from EurOil to GDC Bomono; andØ Should these conditions precedent not be satisfied by 30 June 2017, both Bowleven and VOG have the right to terminate the Agreement.-- In the event that any of the resolutions requisitioned by Crown Ocean Capital P1 Limited at the forthcoming Bowleven General Meeting on 14 March 2017 are passed, VOG has the right to terminate the Agreement.Kevin Hart, Chief Executive Officer of Bowleven plc, commented:"We are delighted to be working together with VOG to unlock the potential of Bomono by accelerating the monetisation of the existing resources, whilst gaining access to VOG's extensive infrastructure and gas marketing experience. This deal offers shareholders the opportunity to access VOG's robust commodity pricing framework, which offers attractive returns relative to a gas to power option, and requires minimal further investment by Bowleven to reach first production. Retaining a 20% interest allows Bowleven to participate in the further upside potential identified on the acreage with a clear evacuation route to the attractive growing local gas market.We are pleased to have reached this mile-stone for Bomono and look forward to working together with both VOG and the Cameroon authorities to realise the maximum potential this asset has to offer."Ahmet Dik, Chief Executive Officer of Victoria Oil & Gas plc, commented:"This is a mutually beneficial deal, which provides additional gas sources to our pipeline and considerable exploration upside, some 146 bcf and 263 bcf of un-risked GIIP. It also delivers an additional 2,327km(2) of onshore license area and early production potential from the Moambe well that will help meet the expanding gas market in Douala. Our gas infrastructure pipeline is only 9.5km from Moambe well and on the Bonaberi side of Douala where we see considerable industrial growth potential. VOG's commitment to building and expanding further Cameroon gas infrastructure is being cemented and we are grateful for the support from SNH and the Government with our continued contribution to the growth of the Cameroon economy".BOWLEVEN ENQUIRIESFor further information, please visit www.bowleven.com or contact:Bowleven plcKevin Hart, Chief Executive 00 44 131 524 5678Kerry Crawford, Finance DirectorBrunswick Group LLPPatrick Handley 00 44 207 404 5959Will RowberryCenkos Securities plc (NOMAD)Derrick Lee 00 44 131 220 6939Neil McDonaldVICTORIA OIL & GAS ENQUIRIESFor further information, please visit www.victoriaoilandgas.com or contact:Victoria Oil & Gas PlcKevin Foo / Laurence Read Tel: +44 (0) 20 7921 8820Strand Hanson Limited (Nominated & Financial Adviser)Rory Murphy / Stuart Faulkner / James Dance Tel: +44 (0) 20 7409 3494Shore Capital Stockbrokers Limited (Joint Broker)Mark Percy / Toby Gibbs (corporate finance) Tel: +44 (0) 207 408 4090Jerry Keen (corporate broking)FirstEnergy Capital LLP (Joint Broker)Jonathan Wright / David van Erp Tel: +44 (0) 207 448 0200Background on BomonoThe Bomono contract area at 2,327km(2) covers a significant portion of the onshore extent of the Douala Basin, and lies immediately to the north-east of the estuarine Matanda exploration license. In the south-east, the permit captures three sides of the Logbaba exploitation area. The contract area includes most of Cameroon's energy hungry economic capital, and primary seaport; Douala.The relevant geographical area is shown via the link below:http://www.rns-pdf.londonstockexchange.com/rns/5450Y_-2017-3-5.pdfExploration in the area dates to the 1950s with an extensive shallow drilling campaign successfully exploring the southern boundary of the permit discovering gas in wells drilled by Elf. In recent times, EurOil has undertaken a comprehensive evaluation of the prospectivity of the area, including geochemical, airborne geophysical and 2D seismic programmes, culminating in the drilling of two successful exploration wells in 2015.EurOil focused exploration efforts on the shallow Paleogene NW-SE trending structures found in the southern half of the block. Two low risk, shallow prospects with stacked reservoir units were targeted, with the Moambe-1 and Zingana-1 wells both successfully tested and subsequently completed as future gas producers in early 2016. The shallow reservoir of the Moambe-1 well flowed on extended test at over 7mmscf/d. The drilling campaign significantly de-risked the remaining unexplored structures in the block, with a post drilling, block-wide Tertiary prospect inventory of un-risked in-place mean gas volumes of 146bcf, including the Zingana and Moambe discoveries.The Tertiary prospects are situated between 10 to 30 km from Douala and are within proximity and immediately accessible to Gaz du Cameroun S.A.'s gas distribution network. Additionally, revised mapping highlighted deeper significantly larger Cretaceous prospectivity totalling more than 263bcf, targeting potentially the same reservoirs as the producing Logbaba field.NOTES TO EDITORS:About Bowleven plcBowleven (BLVN.L) is an African focused oil and gas exploration group, based in Edinburgh and traded on AIM. Bowleven's vision is to build an African focused exploration and production company focused on creating and realising material value through exploration-led organic growth and niche acquisitions. Bowleven holds equity interests in three blocks in Cameroon, with one block located offshore in shallow water (operated by New Age) and two onshore (operated by Bowleven).The technical information in this release has been reviewed by David Clarkson, a qualified person for the purposes for the AIM Guidance Note for Mining, Oil and Gas Companies. David Clarkson, Chief Operating Officer of Bowleven plc, is a Chartered Engineer and Fellow of the Institution of Mechanical Engineers with extensive oil and gas industry experience.The most recent published financial statements of the Bowleven Group are contained within the 2016 Annual Report and accounts for the year ended 30 June 2016 which were announced on the 8 November 2016. The carrying value of the Bomono PSC contained within the balance sheet and classified as "intangible exploration assets" as at that date was US$42 million.About Victoria Oil & Gas plcVictoria Oil & Gas (VOG.L) is a gas utility company.The Company's subsidiary, Gaz du Cameroun S.A. ("GDC") owns a 60% participating interest and operates the onshore Logbaba Gas Project. The Logbaba Gas Project supplies cost effective, clean and reliable natural gas to industries in the Douala region of Cameroon. RSM Production Corporation, an affiliate of Grynberg Petroleum Company of Denver, Colorado holds the remaining 40% participating interest. In addition, VOG owns a 75% participating interest in the Matanda block, which neighbours the Logbaba block. The remaining 25% participating interest is held by AFEX.GDC is currently the only supplier of natural gas to Douala and it owns and manages the whole supply chain from wellhead to customer connection. Customers are supplied with gas through a 50km pipeline network built by GDC in Douala. GDC has in place long-term gas supply contracts with customers using gas for a range of different applications, with prices ranging from $9/mmbtu to $16/mmbtu.VOG also holds 100% of the West Medvezhye oil and gas exploration project near Nadym, Russia. The Group is actively seeking partners to develop this field.NOTES TO THE ANNOUNCEMENT:This announcement contains inside informationThis information is provided by RNSThe company news service from the London Stock ExchangeENDAGRUVUORBKAORAR(END) Dow Jones NewswiresMarch 06, 2017 02:00 ET (07:00 GMT)
17/2/2017
13:38
lowflow: There are a number of issues with VOG at this point, especially after the recent rise in the share price which hasn't been supported by any news. 1. 2016 operational update, released 3 Feb was the last RNS from VOG. Since then the share price is up 70%. This is a bit surprising considering that the update was mainly negative: - Q4 production growth was only 4.5%. - Jan 2017 production was only up 4%. - Drilling cost for La-107 and La-108 has increased with 10-20%, or $4-8m gross which is considerably considering the financials of VOG. The company only generated $9.3m in revenue in H2, which means that if the cost over-run end up in the up end of the range, it would be equivalent to half H2 revenue. 2. SG&A keeps eating up VOG. The company has for a very long time been running an SG&A run rate which isnt sustainable considering the level of revenue the company is generating. VOG generated $32.9m in revenue in 2016. However, VOG started first to pay its 40% partner RSM its revenue share in June 2016. Deducting RSM revenue share, VOG generated $24m in revenue for the full year. VOG run-rate SG&A cost is app $10m, which is obviously unsustainable considering that the company is generating only $24m in annual revenue. 3. VOG financials are just not appealing, 2016 financials adjusted for RSM revenue share. $24m Revenue -$4.1m Royalty (most going to Kevin Foo, great set-up) -$3.4m Cash operating cost -$14m Depreciation -$10m SG&A -$1m Financial net -$8.5m Operating result before taxes This is obviously not a sustainable business model
25/1/2017
17:04
highasakite: sleveen why you so concerned about the VOG share price you nonce ?
28/10/2016
13:41
whites123: MAYA : Mayair. 2 trades of 5000 shares go through (These are not destined for share buyback) and the result is, NMS tightens up and increase of 8% showing. Folk... DYOR etc, but it really is a coiled spring waiting to pop. The company has an approved mandate to buy back 10% of stock at an average price of £1.42. (£5,500,000) all stock bought below means the top price payable goes up. MAYA : Mayair. Very limited PI interest showing in MAYA (Mayair) still, but with just 2 small PI trades showing of £3,700 total the share price has risen some 8%. The company has an approved mandate to spend over £5,500,000 on share buy back program. Its a squeeze of epic proportions. Do some research people... Im like an over excited kid as I have not seen this situation for many a year. MAYA : Mayair Close to £5,500.000 still to spend on share buy back program. Averaged out that equates to over £1.40 per share, but all those bought lower means the upper price to pay can well exceed that marker. Tripling of the share price is easy once stock is in demand. Its a squeeze of epic proportions in the waiting. And yet another RNS from MAYA showing a further share buy back. Each and every time the rns comes out the price increases. Yesterday just 2 purchases. 1 from a PI buying 2,500 shares and the other purchase was a share buy back by the company. They have the mandate to buy approx a further 4 MILLION shares back. The share price will explode... Anyone else here excited about MAYA? (Mayair) They want to buy back 4,247,500 shares (10%) for a maximum of £5,755,750 They have already bought back 340,000 shares for £205,611 So they still have to buy back 3,907,500 shares with £5,550,139 They can pay up to 142p (£5,550,139 / 3,907,500) to acquire the outstanding stock but for every share they buy below 142p, they can pay more than 142p to complete the buy-back, so the price should keep stepping up. The objective of the buy back seems to be to get the share price up. This could triple from here. 19th Oct -2016 RNS today showing they bought back more shares.. In a lightly traded stock like this they have the mandate to buy back almost 4,000,000 more. Where will the share price be by then? Many many multiples of todays price is my best guess.
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