Victoria Oil & Gas Share Discussion Threads

[rayfenn] 04/8/2021 20:08

Ray - Please correct me if I've got this wrong: My understanding of the case was that RSM was claiming that we had overbilled for the 107/8 drills. I assumed they had paid, and now wanted money back; hence they sought arbitration. If we win, we do not return monies already paid by them, but reclaim our fees. Your post suggests they haven't paid; hence we are seeking money from them through arbitration. Have I got this wrong? IN REPLY: RSM are claiming that the drill over spend was not valid and so are disputing the 38% of the over spend on drilling. I am not sure if RSM have paid or not. Given that VOG is operator of the Logbaba concession then VOG might have taken the drill over spend (and well remediation costs) out of RSM's share of Logbaba revenue. Remember VOG get 57%, RSM 38% and SNH 5% The second arbitration case by RSM is about the well remediation costs and what RSM have to therefore pay.

[haff1] 04/8/2021 11:05

The share price doesnt give us confidence about the likely arbitration outcomes?

[rayfenn] 04/8/2021 10:01

"RSM is indeed a concern - if it goes our way we will get a lot of fees returned; if it doesn't, then hopefully we can claw back money from CHL payments." Mr Sparrow If the firat arbitration goes VOGs way (as I expect) then it just means RSM have to pay 38% of the "over budget" costs for drilling well 107 and 108. As it was a well blow out issue I can't see how RSM can't pay these costs.

[rayfenn] 04/8/2021 09:25

Thermal / industrial sales of 5.4 mmscf/d compared to 4.6 for the same quarter last year. That's a 17% uplift. West Med interest hasn't "all but evaporated" at all. Go read the RNS again. Most sensible VOG holders don't contribute here as the nutters have taken over. Nothing constructive on here anymore. Just non holders like Sparty trolling.

[speny] 04/8/2021 09:20

It's a poor update when nobody can be bothered to even comment on it. Seems the same old vog, very little progress as usual, west med interest all but evaporated. Could the RSM arbitration be the final nail in the vog coffin? On the flip side, if the ruling is in vog's favour, could that start a positive turn of events? I mean for investors who actually undertake a reasonable amount of research, at present vog must shout avoid at all costs.

[johncasey] 04/8/2021 08:41

before this winter

[donaferentes] 03/8/2021 13:49

Wine, women and the rest he squandered (pace George Best)

[dannythelark] 02/8/2021 23:16

Wonder what Kevin Foo spent the money he stole from shareholders this weekend?

[johncasey] 02/8/2021 18:44

sparty...mini ice age coming...snow in south africa,they will need all the gas they can get soon...step in vog

[rayfenn] 02/8/2021 18:09

MS are my broker you tit. Have been for 26 years now.

[sparty1] 02/8/2021 17:08

Fenn Holds no Morgan Stanley account but lies about their broker notes..

[sparty1] 02/8/2021 17:07

Every hour? Fenn cannot count either.. How's the due diligence on West Dead Fenn? Must be checking back to the Jurassic era.. I wonder if Kev and Co have spent their monthly pension from VOG yet? Everyone get's something from VOG except the shareholders. So many snouts in the trough.

[sparty1] 02/8/2021 15:40

JC With all due respect... What on earth has that to do with the price paid in Cameroon in a corruption fueled economy..? Going way back to the "re discovery" of the French drilling in the 50`s the price has never followed any world trend..

[rayfenn] 02/8/2021 13:47

Another potential customer in Douala. hTTps://www.investiraucameroun.com/agriculture/0208-16699-l-agro-industriel-agrivar-cameroun-veut-investir-15-milliards-de-fcfa-dans-une-unite-de-transformation-de-soja-a-douala

[rayfenn] 31/7/2021 17:26

Welcome back Mr S Ambo

[dil 21] 31/7/2021 16:24

Ray won’t reply he’s in Brighton for the weekend with his mates.

[biggie3] 30/7/2021 11:07

Don't mention the war... AKSA?