Victoria Oil & Gas Share Discussion Threads

[clunes100] 20/12/2017 09:39

Sleveen, yes but at a considerable cost! Although funnily enough, having bailed once before and then come back, I have sold these shares at a profit.

If contract news does not arrive soon, it will be a slow drift downwards from here and then it will be a race between contract news and further dilution. if the shares drop to 27p again I'll review the situation.

[sleveen] 20/12/2017 08:51

Clunes , you got there in the end :-)

[mr_blonde] 20/12/2017 08:44

Positive news ruined by a poorly written RNS.

[fatnacker] 20/12/2017 08:40

You've stuck with vog for a long while Clunes, I can understand your frustration

[dan de lion] 20/12/2017 08:39

Looks like there is a pressure differential between the upper and lower sands, perhaps explains why they have not attempted to open up the higher sands yet as gas would just flow from the upper to the lower sands, until they can put some sort of non return valve in.

[laurence14] 20/12/2017 08:36

Lot of round figure sells doesn't look like pi sells more like auto to me

[sleveen] 20/12/2017 08:36

Certainly drilling issues are a common occurrence during drilling, particularly for VOG.

[jam2day] 20/12/2017 08:33

sp drop down to windy pi's low volume will bounce back latter rns was positive

[larry laffer] 20/12/2017 08:32

Good price to buy at fatnacker

But this perforating gun being stuck can turn into another VOG nightmare.

The RNS states they only perforated the lower level and pretty obviously got the gun stuck. They changed their declared strategy and published their results for just that part of the perforation. Bigging up the numbers by comparing them with 107 to "prove" they had a highly productive well.

The reality is removing the perforating gun is going to be expensive, and they don't have the readies for that. They may have pulled stumps so they can supply the gas demand over the next few months LOL. The reality is retrieving the gun may prove difficult and may result worst case in having to sidetrack the perforating gun string.

The share price reaction is mild compared to what it could have been if they had revealed all the facts about this catastrophic event.

Quoting incomparable numbers in a different format to the norm is a sign of their deperate attempt to gloss over the failure.

and just for the record

its a sets stock.

[sleveen] 20/12/2017 08:27

Look at the emphasis on the long term (assuming 3-5 years) gas supply in the RNS.

As I stated previously, the sales targets for 2018-19 are unrealistic:

"this will help us meet the growing demand in the Douala market, which management believes will be forthcoming over the longer term."

[muffster] 20/12/2017 08:23

Ab, they may need to go fishing. Common to use inner/outer catch tools. Not unexpected and not a concern.

[fatnacker] 20/12/2017 08:17

Well that was a crazy overreaction, so I've taken the opportunity

[fatnacker] 20/12/2017 08:13

Probably none abacus, it's in the lower sands and a common enough ocurance

[raweden] 20/12/2017 08:08

I managed to sell 3/4s before went into auction. No news on deals being the issue.

[peterpowell21] 20/12/2017 08:05

well i just got out, good luck.

[philippem] 20/12/2017 08:04

Down so far.

[clunes100] 20/12/2017 07:55

So where is the share price going to go?

[baticle] 20/12/2017 07:46

Maybe Kribi Gas plant need some of our Gas

[fatnacker] 20/12/2017 07:36

Exactly that Baticle, haak looks like you were right about the flow rate being higher, struggling to get my head around it although like 107 it's theoretical anyway, encouraging that they're gearing 107 up for the high production period, suggests the payment worries are being over egged

[temmujin] 20/12/2017 07:28

looks good..flow rates exceeded expectations

[baticle] 20/12/2017 07:26

Right then, We're up and running...
Now we need a nice fat power contract to get things really moving.

[a44] 20/12/2017 07:18

With that RNS we will now find out how important flow rates news was!