Velocity Composites Share Discussion Threads

[jonwig] 18/5/2017 08:05

Clearly there used to be a company with ticker VEL which seems to have knackered the chart.

I looked at it and thought it quite risky and expensive (no profit 2016, Brexit risk) but I suppose the EIS breaks will help.

[timbo003] 18/5/2017 07:57

Thanks SE

I have my rocket animated "gif" at the ready for this one.

It was very difficult to acquire shares in the IPO, the VCTs were all over this one apparently.

[status epilepticus] 18/5/2017 07:39

t003

As requested

Cheers

[timbo003] 18/5/2017 07:36

I was fortunate enough to acquire a few in the IPO at 85p/share

They qualify for EIS tax breaks, so effective purchase price for UK tax payers is 59.5p

Can we a link to the Admission document and the web site in the header (please)

[status epilepticus] 18/5/2017 07:21

!FOLLOWFEED



They qualify for EIS tax breaks, so effective purchase price for UK tax payers is 59.5p

Can we a link to the Admission document and the web site in the header (please)

[dropside] 02/7/2015 20:33

Nice quote right now:


Last Price
0.015

Change $
0.01
Change %
200.00%
Tick

Bid
0.01
Bid Size
1,552,000
Ask
0.015
Ask Size
30,000

[dropside] 02/7/2015 18:22

Something stirring? 2.3m shares traded today so far, nearly all of them buys.

[dropside] 10/4/2015 20:39

Received this today:

The Final exercise Opportunity for the Vanoil Energy Limited CA$1.00 Warrants arises on 17 May 2015. Each Warrant is convertible into a Vanoil Energy Limited Ordinary Share at an exercise price of CA$1.00 per Warrant.

Please note that Vanoil Energy Limited Ordinary Shares are currently quoted with a mid-market price of CA$0.005 on the Toronto Stock Exchange. For each Warrant you exercise you are therefore paying CA$1.00 in order to receive an Ordinary Share currently valued at CA$0.005.


Decisions, decisions....

[dreggspicker] 19/11/2014 18:08

nope. just feels like we have all been kicked in the nuts..

[napoleon111] 19/11/2014 16:24

does anyone know what at all is going on?

[dropside] 18/11/2014 21:28

Haha I agree with you on that pisces, its painful and even a bit of communication would be like a drop of water to a man dying of thirst.

[pisces4] 18/11/2014 21:05

what a slow painful death this have been, would much rather have been shot!

[vauch] 06/10/2014 10:12

BUNCH OF WASTERS

[dreggspicker] 01/10/2014 18:51

Vanoil has just announced proceedings against Kenya, asking for $150m in damages,




VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2014) - Vanoil Energy Ltd. (TSX VENTURE:VEL) ("Vanoil" or the "Company") has commenced an international arbitration against the Government of Kenya (the "Respondent"). This action has been filed to resolve a dispute arising from the Respondent's breach of the Production Sharing Contracts (the "PSCs") for Blocks 3A and 3B.

Vanoil commenced drilling operations at the Madogashe-I drill site (Block 3A) in Kenya prior to July 31, 2013, as part of the Company's commitment specified in the amended PSCs for Blocks 3A and 3B. The Company was unable to drill, however, because drill site operations were significantly impaired by a number of incidents of local disturbance and unrest. The Company was directed by local government authorities to reduce and then delay operations until a safe return to the site could be provided. The Company's decision to proceed with a formal arbitration demand follows prolonged discussions with Kenyan officials regarding an extension of the PSCs for Blocks 3A and 3B in order to accommodate the lengthy delays experienced at the drill site and give the Government of Kenya sufficient time to provide Vanoil with secure and safe access to its site, in order to complete its two-well program.

Vanoil is seeking not less than US$150 million as full and proper restitution for its seven years of exploration and development, based upon the net present value of its investment in Kenya, to which it is entitled under the PSCs.

On behalf of the Board of

VANOIL ENERGY LTD.

James Passin, Chairman


Read more at

[dropside] 19/9/2014 21:22

At £1.6m cap it is very cheap, but the liabilities make this high risk. However there are still deals to be done - with Kenya direct or through arbitration; Seychelles and L9. Compensation from Kenya could be rolled onto the liabilities and Seychelles (once settled) and potentially L9 could be farmed down. The intellectual property (3D seismic etc) on 3A and B could be sold. In time the Glencore deal and Witkop could be worth something. Just can't imagine Passin is throwing the towel in while discoveries are being made near 3A and Seychelles is looking promising.

It would certainly help of course if they communicated properly with shareholders, no doubt that has damaged the share price.

On the principle of buy when there blood on the streets I've added some more. Its very high risk but potentially high reward. Definitely no advice intended!

[pisces4] 16/9/2014 16:53

Passin never has cared about private investors dreggs,thats why you never get any newsflow, they only put statements out when they are forced to! hardly investor friendly.

[dreggspicker] 15/9/2014 19:50

Hi dropside,
Been away, saw the news, can't really get much worse, just what the hell is Passin playing at? if we are that short of cash then surely we could farm with someone for the Seychelles and have a free carry, a very small % of it is better than nought! It seems to me now that he does not care, and it will just be a tax write off, I thought this had so much potential, but now it is convincing me that I should never invest in any company - ever.......

[dropside] 31/8/2014 20:19

hxxp://www.vanoil.ca/s/NewsReleases.asp?ReportID=671940&_Type=News-Releases&_Title=Vanoil-Provides-Update-on-Seychelles-Property

Oh dear.

[napoleon111] 25/7/2014 09:42

"Aaron d'Este, CEO of Vanoil Energy, has joined Macquarie to build their principal and corporate advisory platform in London"

[dreggspicker] 23/7/2014 16:27

closer to a day or two in court........

/www.nation.co.ke/lifestyle/smartcompany/UN-Vanoil-Energy-Canada-Kenya-government-contract/-/1226/2391782/-/wqtfvxz/-/index.html

By IMMACULATE KARAMBU
More by this Author
The government is preparing its defence before appearing at the United Nations Commission on International Trade and Law in a case in which Canada's Vanoil Energy is seeking arbitration.

Energy principal secretary Joseph Njoroge said the Canadian firm has written to the ministry expressing its interest in having the row between the two parties resolved by the UN agency.

Vanoil Energy is dissatisfied with the action by the Cabinet Secretary for Energy and Petroleum, Mr Davis Chirchir, of revoking its licences for blocks 3A and 3B located in Garissa in February.

This was after the firm failed to carry out work as specified in the production sharing contract it signed with the government in 2007.

"These are expectations and they are allowed for in the production sharing contract. They have written about their intention of going for arbitration and we have already started preparing our response," Mr Njoroge said.

He was speaking on the sidelines of a consultative workshop of the World Bank-supported Kenya Petroleum Technical Assistance at Utalii Hotel, Nairobi, on Friday.

He defended the cancellation of Vanoil's licence, saying the ministry was keen on expediting oil and gas exploration.

PLAY HARD-BALL

"It is important that these resources are exploited as soon as possible. We must play hard ball. We do not want to have people who just delay on these blocks and deny a chance to interested firms which would carry out the work," said Mr Njoroge.

Vanoil Energy announced its intention to seek a formal demand for UN arbitration on the matter early this month after Africa Oil Corporation announced discovery of natural gas deposits at Sala-1 well in Anza basin, where blocks 3A and 3B are located.

Vanoil said in their update that they believed the value of the blocks had increased following the discovery of natural gas in the area.

"Following the discovery of hydrocarbons with oil in Sala-1 well, announced by Africa Oil Corp, Vanoil believes the economic value of blocks 3A and 3B may have increased.

"While we would have preferred to proceed with the two well programme approved by the Ministry of Energy, we are looking forward to pursuing all legal remedies," said Vanoil's chairman James Passin in a statement.

INCREASED VALUE

In the arbitration, the Canadian firm will be seeking to recover its investment costs in the two blocks.

Local exploration blocks have generated increased interest from exploration companies following the first oil discovery at Block 10BB in March 2012.

This has prompted the government to embark on revision of current petroleum exploration laws and enlist the help of the World Bank and the International Monetary Fund to develop contract terms for companies exploring for natural gas in a bid to secure maximum revenue once production starts.

Delay in enactment of the revised law has, however, derailed fresh issuance of licences for blocks that have been surrendered by some exploration firms, despite pressure piling on the government to carry out the allocation.

Kenya is expected to start producing oil by 2018, according to reports by the Ministry of Energy and Petroleum.

Since the first oil discovery, 16 exploration wells have been drilled, of which eight located in blocks 10BB and 13T were found to contain crude oil deposits.

Two wells are for natural gas and one, located in block 10A of Lamu Basin and operated by BG Group, has both crude oil and natural gas deposits, according to the Energy Ministry.

[dropside] 29/5/2014 12:21

Any statements or hints by the company would run the risk of de-railing netgotations so I guess we just have to be patient. I suppose most of us have parked this on the back-burner and left the management to sort it out. Not worth the stress of checking every day. Its priced as if the licence will not be extended so any good news will do us nicely.

[dreggspicker] 29/4/2014 22:36

I certainly do not remember seeing this before, why would you put that on your website at this time if you did not have the nod! Very, Very interesting thanks drops, heres hoping to some good news......

Also what is meant by

12,192 km2 (pre 35% -relinquishment which awaits government approval)


Is that part of 3b or do they mean a farm-in partner???????

bloody hell, I wish I was at that conference .......


dreggs

[dropside] 29/4/2014 21:41

I don't think this was ever announced and I don't know when the website was updated with this information, I've never noticed it before...says 3A to be drilled in Q2 2014. No idea how old or recent this is, anyone know?

[dreggspicker] 26/4/2014 19:21

its all sooooo weird drops, I just can not get my head round it.......