Victoria Oil & Gas Share Discussion Threads

[deanroberthunt] 21/11/2016 11:22

even when VOG have 12 new customers and have drilled the development wells moving 2p reserves to 1p, Peter will still be anit-VOG/FOO

[deutsch3] 21/11/2016 11:06

OK then you try selling gas in competition to the Government approved energy partner and hence try to take bread from their mouth then!

[peterpowell21] 21/11/2016 10:42

deutsch3

well you cant, but they are not "heavily invested here" are they.
so you made it up.

in fact they have an option to take 5% but have never taken up that option.
why pay for 5% when in reality they could just take the lot.
As you say, this is Africa.

[peterpowell21] 21/11/2016 10:35

i wonder if there have been any royalties handed out for these drills.

as we know foo run the last two drills here and the overspend was massive.
look at the clowns he has doing these new wells.
on the cheap though, $40m lol.
these are complicated wells, so you need to pay the right people and the right price. Expect delays overruns and massive extra costs. like before.
just hope they dont blow the whole lot up.
its amateur night all over again here.

[deutsch3] 21/11/2016 10:23

You try building a pipeline in Africa without the government Mr!

[peterpowell21] 21/11/2016 10:20

deutsch3

can you point me in the direction of where the government are heavily invested here?

you people just make it up as you go along.

[sleveen] 21/11/2016 09:35

fair enough :-)

[fatnacker] 21/11/2016 08:58

sleveen, your interpretation is a possibility whilst prowlers on the other hand is an entirely incorrect assumption.

[sleveen] 21/11/2016 08:44

The global downturn in oil prices impacts the price of competitive substitutionary products, which can affect the way our customers consume energy. We continue to monitor the impact of the price of HFO and engage with our customers to maximize our profitability.


Says to me if VOG want contracts renewed (several due 2017) VOG will have reduce the price of gas supplied or the consumers will go back to HFO.

Que fatnacker response of "Oh no it doesn't".

[fatnacker] 21/11/2016 08:25

a remarkable claim tagatarga especially when you consider the age of the company, you'll fit in nicely on this thread.

[targatarga] 21/11/2016 08:03

your right peter - foo has milked this company for decades, only one winner here !imho

[peterpowell21] 21/11/2016 07:58

yes it does fatty.
that is all copied from the last results RNS.
the problem with you people is you cant or dont want to read it as it is.
well thats your problem.
you are like a blind person,you need leading by your hand to the facts.
even then you are that much in love here you wont believe whats in front of your eyes.

[fatnacker] 20/11/2016 20:09

Says nothing of the sort, read it again.

[peterpowell21] 20/11/2016 18:04

dean
20 Nov '16 - 08:05 - 33583 of 33586 0 1
the $13.4m is cash generated not revenue...net cash was $5m

cash is king, profits can be manipulated using all sorts of accounting methods
---------------------------------------------

i think you have really been taken in again.
cash is king, but vog have no cash.the numbers are done to fool you into thinking they have, but if you dig not very far down you can see the facts.in fact they tell you at the end of the accounts they have lost money.

you are right though accounts are open to manipulation and creative accounting.
saying that,when will VOG ever get around to having the accounts audited.

the fact here is you are selling as much gas as you can and still not making profit.They still have massive risk with the dills, they have pressure on there prices read below.

Despite the fixed price contracts that we have with our customers, gas prices came under pressure during the period. The global downturn in oil prices impacts the price of competitive substitutionary products, which can affect the way our customers consume energy. We continue to monitor the impact of the price of HFO and engage with our customers to maximize our profitability.

says they are having to reduce prices despite them being fixed.
these companies have vog by the balls.
prices are falling,have been falling, but some just hang on to the hope that these fixed price contracts are fixed.
once/if eneo contracts are renewed you will see prices will be reduced.

[peterpowell21] 20/11/2016 14:11

REVENUE FOR THE LAST 6 MONTHS was $23.6
not bad till you look at the Cost of sales of $15.2 million.
add all other costs on to this and you can see why there is no profit.

look the fact is this is a none profit making company.
it is not one of the best AIM companies, well if it is it does not say a lot about the others.

the facts are there.
this is why the share price is as low as it is.
its spent $300m to get to become a none profit making company.
sorry if you dont want to hear the truth.

blakieboy
20 Nov '16 - 11:42 - 33584 of 33585 0 0
Peter, I think you'll find this is the positive thread lol

well i'm positive my info is correct as its all from vog RNS.
How anyone could be positive after years of failure here is beyond me.
they just think that the share price was once 104 pounds so it must be worth 60p now.
well it dont work like that.
if its not making a profit now after spending $300m its never likely to.
i can see a placing coming soon.

[peterpowell21] 20/11/2016 13:40

dean

in the accounts at the very end where they have tried to hide this info from people that only read the first few pages they say theylost $3m.
are you saying they are lying?.
they also say this about borrowing.

Total borrowings have increased by $5.0 million from $7.2 million in the comparative period to $12.2 million at 30 June 2016 as the drilling programme and other capital projects progressed. The Group has $20.0 million remaining headroom on its facilities.

so they have as i said started eating into that debt facility.
and with all the capex that is being spent i expect they have eaten threw most of the cash they had left by now.
in fact they actually say this.

At 30 June 2016, GDC had $18.5 million of commitments pertaining to the drilling programme, the majority of which is expected to be incurred during 2016. At 23 September 2016 GDC has remaining drilling commitments of $17.6 million. Spudding of the wells is expected to occur shortly.
i can see a placing before christmas here.

also they say this under, Financial risk: Ability to fund the entire drilling programme with available funds, debt and operational cash flows.
well its not just the drills they have to finance is it, its the pipe laying and the committed to performing seismic activities on the Matanda Concession. The majority of the estimated costs (a range of $8.0-$10.0 million) will be incurred during 2017 and 2018.




they also say, the Group was in a net cash position of $1.9 million at 30 June 2016. well they could have said they had a cash position of $21.9m if they had drawn down all the debt facility.

but it gets worse.

[blakieboy7] 20/11/2016 11:42

Peter, I think you'll find this is the positive thread lol

[deanroberthunt] 20/11/2016 08:05

the $13.4m is cash generated not revenue...net cash was $5m

cash is king, profits can be manipulated using all sorts of accounting methods

[peterpowell21] 19/11/2016 15:53

dean

i think you can see the share price dropping as it always does and have decided to start lying and ramping.
give it a rest mate. you are only making yourself look silly.

if you want to ramp use the ramping thread with the other nutters.
thanks

[deanroberthunt] 19/11/2016 13:03

that would be a nice bowl yo form at 190p.....12 new customers and successful drilling campaign should set us on our way.....

[deanroberthunt] 19/11/2016 13:02

plus they have a loan facility.....$26m

I don't mind bear comments, just make the bear case realistic.