Victoria Oil & Gas Share Discussion Threads

[barony] 19/12/2017 16:38

Next time I see Russia, or Africa, in a prospectus I will run a mile. Having both is guaranteed suicide.

[barony] 19/12/2017 16:36

Looking like another banana republic - like Tanzania.

[the drewster] 19/12/2017 15:45

They have built an excellent business model, massively profitable, totally at the mercy of the Cameroon Govt.

If Cameroon wants to encourage international investment, then they have to show honesty and good governance... VOG is effectively a gamble that they will.

If they do, £3 could easily be on the cards, if not, zero.

Seems William Hill see the odds at around 5/1 meaning massive upside, but with significant risk of failure!

[max_cady] 19/12/2017 15:31

Yes VOG is toast and the Cameroons get the gas and the infrastructure for free.

At the best VOG have allowed themselves to be blackmailed by the Cameroons.

[the drewster] 19/12/2017 15:12

From VOG in October: ... sign was an increase in trade receivables, as a result of payment delays from the company's main customer, ENEO, which has provided US$10.1 million of promissory notes.

[the drewster] 19/12/2017 15:03

ENEO issued us with "IOU" for gas used to end April from memory... we borrow against those IOUs but if they fail to honour their debts, VOG is toast.

I'd like an official confirmation about whether the state has cleared, i.e. paid off ANY promissory notes yet.

[the drewster] 19/12/2017 14:56

From 25th November:

If ENEO are not paying the power supplier, how will they pay their suppliers?

How much does ENEO, either directly or indirectly, owe VOG?

[fatnacker] 19/12/2017 14:26

clearly not dodge

[peterpowell21] 19/12/2017 14:04

Drewster

Was there one before?
Or was the first we heard of it in the Preliminary Results in May.
Where you had to hut for this very important info.

[dodge city] 19/12/2017 13:46

Have VOG just raised millions to provide an infrastructure to provide free gas?

Are VOG a charity?

[highasakite] 19/12/2017 13:40

14:30 onwards.

[the drewster] 19/12/2017 13:08

If ENEO are not playing ball, given the scale of the potential impact on VOG, you'd imagine some sort of formal announcement might be forthcoming.

[squibno1] 19/12/2017 13:01

Unpaid supplies is having a continual dampening of the share price Need some positive news to turn this round.

[larry laffer] 19/12/2017 08:28

Unless ENEO win the lottery I don't see any contract with them bringing about any re-rating.

If they signed up for 100 trillion scuffs a day but can't pay then VOG earns nowt.

The first thing that needs to happen is for the Customer to pay when invoiced.

Then all these suppliers can take the brakes off and get going.

[temmujin] 19/12/2017 04:23

Natural gas consumption surges in China
Xinhua | Updated: 2017-12-19 09:55
BEIJING — China's natural gas consumption has surged in the first 11 months of 2017 due to strong demand from industry and winter heating, official data showed Monday.

The country saw a 18.9-percent year-on-year rise in natural gas consumption, which totaled 209.7 billion cubic meters in the January-November period, according to the National Development and Reform Commission (NDRC).

The growth was 12 percentage points higher than that in the first half of the year and more than 8 percentage points higher than the average growth in the previous five years, NDRC spokesperson Meng Wei said at a press conference.

During the first 11 months, domestic natural gas output rose 10.5 percent year-on-year to 133.8 billion cubic meters while imported gas soared 28.9 percent.

Meng attributed the increased gas use to rapidly growing demand in the industrial sector and residential use as millions of households changed to gas instead of coal for heating this winter to help combat air pollution.

To better meet household demand, gas supply for industrial use will be reduced moderately, said Meng.

China's major state-owned oil firms have been told to maximize production at domestic gas fields.

Xu Bo, a senior analyst with China National Petroleum Corporation's Economics and Technology Research Institute, estimated that natural gas use is expected to reach 230 billion cubic meters this year, with 20 billion cubic meters coming from the coal-to-gas transition.

Xu projected a growth rate of 17 percent for the natural gas consumption this year, compared with 7 percent last year.

[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.