Victoria Oil & Gas Share Discussion Threads

[dan de lion] 18/12/2017 17:13

That`s what they said in the earlier RNS:-

"The extension will enable ENEO and the Company's 100% owned subsidiary, Gaz du Cameroun S.A. ("GDC") to optimise all technical and financial elements of a long-term gas supply arrangement aimed at increasing the current contractual power supply of 50MW to beyond 100MW. The take-or-pay components will remain in place and, until year end, an interim gas price of US$7.50/mmbtu has been agreed."

[highasakite] 18/12/2017 17:07

Agreement with ENEO will be for a minimum of 100Mw power. The guess is at what price ? $7.5 ? higher or lower ?

[dan de lion] 18/12/2017 17:00

They must know the flow rate by now, I assume that there isn`t going to be an extended flow test, The agreement with ENEO is due to be renewed very shortly, the extra gas from these two wells gives VOG the ability to easily provide the current 50mw, I wonder if an agreement for the extra 50mw is on the table.

[peterpowell21] 18/12/2017 16:03

I see fatty making his excuses for no rise in share price from flow tests.
So i also expect he thinks the same about new contracts if they are months away from taking the gas.
So it seems we will have nothing to rise the share price
No Q3 update.
No contracts.
No flow rates.
No news on who bought the placing shares.
So same old VOG.

[fatnacker] 18/12/2017 14:50

dan, I could only guess and say the formations are probably interlinked? it depends on where they do the perforations, hence the need to do occasional work overs ie more perforations.

[highasakite] 18/12/2017 13:50

Prowler talking to himself on the other thread I see.

[dan de lion] 18/12/2017 13:35

In 108 they have penetrated the upper and lower gas fields, if they open both up the one with the higher pressure will flow into the other, so can the open up and test each area individually without this occurring.

[peterpowell21] 18/12/2017 13:07

This has got to be one the worst company on AIM.
Well its definitely got the worst management.
And its been one of the worst investments over the last 10 years.
What i expect soon is a rns saying more jam tomorrow.
You know the same old story, year after year after year.

[fatnacker] 18/12/2017 12:51

I've said it before and was slated for it but flow rates are pretty meaningless for the reasons stated above, volume is the key.

[fatnacker] 18/12/2017 12:48

the restriction is the well dan, not the field, for many reasons its preferable to have multiple wells producing say 50mmcfm all together than a single well, wells wide open destroy themselves in short order

[highasakite] 18/12/2017 12:48

What does that mean in English ?

[dan de lion] 18/12/2017 12:40

With the fact that they have a lot of contact with gas producing areas, I assume that they would like to test each area individually, so as to stop one area feeding into another there would need to be some sort of control downpipe, can they do that, or is it just the case of open the lot up and see what happens.

[fatnacker] 18/12/2017 09:23

108s in a p1 gas field Larry, gas under high pressure has been encountered already

[larry laffer] 18/12/2017 09:07

I don't think the flow rate when they test is the key number although it is important.

Any significant pressure drop during the flow test would be concerning, any minor drop would be worrying.

what they actually need is a sustained large flow rate with no pressure drop over an extended period. That would be mega news.

The wells are likely drilled into the same gas field structure so they provide insurance against failure and the ability to draw large amounts of gas at high flow rates with hopefully no significant reduction in well head pressures.

[peterpowell21] 18/12/2017 07:36

No news

God help us.

[fatnacker] 17/12/2017 18:11

I'd be happy for you to be right though

[fatnacker] 17/12/2017 18:05

It may well produce more distillate

[fatnacker] 17/12/2017 18:04

Not necessarily, if the pressures the same as I suspect it is the flow rates will be comparable, another 55 would be excellent.

[fatnacker] 17/12/2017 17:46

55 same as 107

[highasakite] 17/12/2017 17:12

70 mmscf/d maximum flowrate through a 70/64(ths) inch choke is my forecast for LA 108.

News this week hopefully.

[peterpowell21] 17/12/2017 13:21

Chipaway

with regards to those ii's that sold.
They may have sold for many reasons.
One of the reasons i bought back in here was the fact that we were led to believe one or two ii's had bought around 20% of the company. Well it looks not to be the case now.But someone bought a lot of share on the back of maybe the same news that we have been fed.BIG contracts due to be signed and the mass amount of power that is needed out there.
But since the placing 2 months have passed, we find out that ENEO are not getting paid by the government, still no Q3 update,still no news on contracts, to then top it off a delay in flow results.
Well tomorrow is another day,and soon we will have another new year.
Maybe things will be better next year, maybe they will be just the same.
One thing is for sure, FOO is a lot better off this year than he was last.
At least some one is doing well here, along with lying fatty and his side kick Haak.

See you in the morning for those remarkable flow rates.