Victoria Oil & Gas Share Discussion Threads

[muffster] 11/12/2017 11:39

Peter, we are aware. Get a life. Move on. Make money elsewhere.

[peterpowell21] 11/12/2017 11:33

Well comforting words from fatty
(which is why vogs market cap isn't zero currently)

so is he saying he is expecting it to go to zero.
CURRENTLY is saying hes expecting it.

[the drewster] 11/12/2017 11:06

for the avoidance of doubt, I remain long here. Eyes widely open to risk, and stakes tempered accordingly.

[fatnacker] 11/12/2017 11:02

Drewster the alternative is the country's plunged back into the dark ages, literally, its not just vog or eneo, there's a few banks in it for a few quid as well, its odds on a solution will be found (which is why vogs market cap isn't zero currently)

[muffster] 11/12/2017 10:59

Don't know why non investors still cast their dreary outlook here. Oh wait yes I do its because they want to be say they knew it all. Peter, seems you have a poor outlook ok, move on to another more positive looking share. Polite words used.

[peterpowell21] 11/12/2017 10:56

fatty

You must have been very happy to see that point in the wrong place.
But yes its now a lot of money.
So pleased you pointed this fact out.

Not looking good yet again here.
The wheels do seem to be coming of here yet again.
But we can see now why they rushed the placing through.
TO keep the lights on and give them a little breathing space.
I don't think we will be seeing any nice Christmas RNS here.

[the drewster] 11/12/2017 10:54

there's very rarely reward without risk ... legally anyhow.

[deanroberthunt] 11/12/2017 10:35

I wish you all the best here, and a joyous Christmas and a very happy and prosperous new year...

[the drewster] 11/12/2017 10:28

it's not a comfortable place to be when the customer has you by the short and curlies, and knows it. Cashflow problems have been the death of many promising businesses.

[fatnacker] 11/12/2017 10:22

I would hope the promissory notes attract the same rate of interest and/or amounts adjusted acordingly.

[the drewster] 11/12/2017 10:17

borrowing (and paying interest) against promisory notes which could still go up in smoke.

[abacus2] 11/12/2017 10:12

In theory they now have the funding and so that cuts the risk by 50% so what's not to like!

[the drewster] 11/12/2017 10:05

Going Concern

The Directors draw attention to the uncertainties surrounding the renewal of the gas supply agreement with ENEO, the Group's major customer, and the funding risk whereby the Group may not get access to necessary financial resources. These uncertainties, if they were to materialise, may have a significant impact on the Group's ability to continue operating as a going concern.

[the drewster] 11/12/2017 10:05

The question is whether Cameroon wants to emerge as a country open for international business and investment. Political suicide if they invite international entities in, but then don't pay their bills.

Risk clearly remains, though if cleared up, the rewards remain potentially significant.

[fatnacker] 11/12/2017 09:07

100 billion fcfa is considerably more than £13 million, try moving the decimal point to the right, ffs

[deanroberthunt] 11/12/2017 08:29

they cn only pay if they have the money, it's not called 3rd world for nothing

[deanroberthunt] 11/12/2017 08:28

if the gas deals don't transpire and the current deal is just extended, this will head back to the 30's

[peterpowell21] 11/12/2017 08:23

Lets just say i think Cam Gov will pay ENEO in the end. They have too.
Well we are told they need all this power, they can't be lying, can they?
They are also going into the dry season now so the gas will be needed.
Some times you have to cut customers of to focus there minds.

Also 100b fcfa works out to 13m pounds.
So yes a lot of money but not as much as a 100b sounds.

[chipaway] 10/12/2017 13:29

What do you think the risk vs reward is for VOG?

If I had my way again I wouldn't touch this company or FOO again with a barge pole!


Kribi Power Development Company SA (Kpdc), a company controlled by Globeleq which operates the Kribi plant, confirms that it has had to reduce the production of the 100 MW plant, since 1 November 2017, following “the increase in arrears payment of electricity supply bills to its sole customer Eneo Cameroon “. In the words of Kpdc CEO Hans Francis Simb Nag (photo), the arrears of Eneo, a subsidiary of Britain’s Actis, have reached “a critical threshold”. Mr. Simb Nag does not give a precise figure. The CEO adds: “the depletion of the resources necessary for the operation of the plant, no longer allows Kpdc to finance its operations adequately”. Kpdc said it continues to work closely with Eneo and the Cameroonian government to find a solution to the crisis affecting the entire power sector. The company is ready to restore the usual level of production of the Kribi gas plant as soon as a satisfactory solution to the problem of arrears is found. On the side of Eneo, authorized sources explain that the financial challenges of the company are related to the fact that the State also owes him an amount of 100 billion FCFA.

[fatnacker] 10/12/2017 09:29

you can be sure a solution will be found, the alternative is a complete shutdown of all fossil fuel'd power generation.

[deanroberthunt] 10/12/2017 09:07

we'll know soon enough whether it's dead in the water, on or before the 31st Dec.