Victoria Oil & Gas Share Discussion Threads

[deanroberthunt] 26/5/2017 09:10

Malcy faking another orgasm

[trulyscrumptious] 26/5/2017 09:09

Malcy seems positive for the long term:

Victoria Oil & Gas
Full Year 2016 figures from VOG which although historic give a good idea as to the significant advances made last year and so far this year. Figures show net revenue of $32.8m and EBITDA of $13m on record gas sales of 10.2mmscf/d up 24%. It is useful to know that this is still less than 10% of local demand. These are good fundamentals despite a $32.7m write off which includes $22.7m on the Logbaba well La-106.
With $27m spent on capital investment on drilling and the further pipeline extension VOG still has $14.4m headroom on its BGFC debt facility. The revenue is in line with company’s guidance, getting rid of a royalty is good going forward as are the non cash items. Operationally, drilling continues slowly hoping for no more gas kicks and ENEO are still taking gas so progress is justified.
Chairman Kevin Foo records 2016 as “a great year” with acquisition of extra acreage at Matanda and in 2017 the Bomono deal probably “a game changer” for VOG. The company are now firmly in control of the Douala Basin and a recent visit showed quite how much potential there is in the City. VOG has come on in leaps and bounds and the investment community have so far appreciated that by doubling the share price so far this year. The headline figures have concerned some this morning but the underlying picture is still very good with huge upside potential in the share price.

[deanroberthunt] 26/5/2017 09:08

Victoria Oil & Gas

Full Year 2016 figures from VOG which although historic give a good idea as to the significant advances made last year and so far this year. Figures show net revenue of $32.8m and EBITDA of $13m on record gas sales of 10.2mmscf/d up 24%. It is useful to know that this is still less than 10% of local demand. These are good fundamentals despite a $32.7m write off which includes $22.7m on the Logbaba well La-106.

With $27m spent on capital investment on drilling and the further pipeline extension VOG still has $14.4m headroom on its BGFC debt facility. The revenue is in line with company’s guidance, getting rid of a royalty is good going forward as are the non cash items. Operationally, drilling continues slowly hoping for no more gas kicks and ENEO are still taking gas so progress is justified.

Chairman Kevin Foo records 2016 as “a great year” with acquisition of extra acreage at Matanda and in 2017 the Bomono deal probably “a game changer” for VOG. The company are now firmly in control of the Douala Basin and a recent visit showed quite how much potential there is in the City. VOG has come on in leaps and bounds and the investment community have so far appreciated that by doubling the share price so far this year. The headline figures have concerned some this morning but the underlying picture is still very good with huge upside potential in the share price.

[barony] 26/5/2017 09:03

Finally, returns to investors in plan - future divis. May not be much, but should pump up the share price

[broncowarrior] 26/5/2017 08:59

What was the write down for? Also pre 2017?

[deanroberthunt] 26/5/2017 08:56

I mean about the current wells, homes

[pjj71] 26/5/2017 08:54

slowly the ENEO gas to power contract is beginning to drop...

[sleveen] 26/5/2017 08:54

So you anticipated the write down then?

[deanroberthunt] 26/5/2017 08:53

bounced off 52p nicely so far

[sleveen] 26/5/2017 08:47

That's assuming everything's OK with the well, like everything was OK with the 2 producing wells until...

$22m write down, oops

[deanroberthunt] 26/5/2017 08:46

I think this'll be a case of all's well that ends well.....well, twin, being the operative word

[highasakite] 26/5/2017 08:43

'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.'

[deanroberthunt] 26/5/2017 08:32

aye. someat like that !

[baticle] 26/5/2017 08:25

There's plenty of buying at this level....Some II's might see this as an opportunity to accumulate as the RNS doesn't change the long term prospects of the Co.

[deanroberthunt] 26/5/2017 08:18

Malcy is paid to be positive

[temmujin] 26/5/2017 08:17

malcy has alot to answer for...ramping tool!

[john henry] 26/5/2017 08:15

60p support gone. No real surprises VOG always manage to pull some negatives out of the bag, they have been doing since day one.

[sleveen] 26/5/2017 08:15

You can fool some of the people all the time and all the people some of the time, but you can't fool all the people all the time.

I hope some of you took your profits above 70p, whilst the PR ramping was on full steam ahead.

[temmujin] 26/5/2017 08:11

what a disaster..im ruined!

[abacus2] 26/5/2017 08:11

Always something to try and keep you on the hook, I wonder what Malcy will have to say now, he's been very quiet since the extra drilling costs.

[deanroberthunt] 26/5/2017 08:09

52p is the key support