Victoria Oil & Gas Share Discussion Threads

[fatnacker] 08/1/2018 15:20

a lot of it was already in the price Boraki.

[highasakite] 08/1/2018 15:10

The ENEO situation will be resolved (it has to be).

If Cameroon want to progress as a country they need gas to power transmition.

It is that simple.

VOG will recover as fast as you know it when resolution comes and will increase way beyond 50p when the new ENEO contract lands as it will.

[peterpowell21] 08/1/2018 14:48

Holding up well really. lol
still about 55% to get back to OO price.

[boraki] 08/1/2018 14:32

Well I have to hold my hands up.

I called this completely wrong.

I thought it would be 20p today and for the next few months.

Well done all vog'ers

[pjj71] 08/1/2018 13:16

i bet the recent '20%' buyers are filling their boots today... can't tell me that they felt this was good value and at 57p and not even better at 37p... ENEO payment problems were well flagged last year at other power plants... all part and parcel of frontier markets.. use it to make money!!

[fatnacker] 08/1/2018 13:11

with hindsight on site power generation should have been more of a priority and still should be, I bet it is now.

[highasakite] 08/1/2018 12:52

You speak sense PJJ71

[pjj71] 08/1/2018 12:50

Also must make selling a direct connection to GDC much easier when the grid isnt working!!! I bet their phone hasn't stopped ringing from the worried industrial companies who have been waiting to commit... short term pain could lead to a very nice long term gain....

[pjj71] 08/1/2018 12:48

And Biya will want positive news on new power plants ahead of the election.. great buying opportunity today make the most of it!!!!

[highasakite] 08/1/2018 12:46

I'll go for 2 weeks

[pjj71] 08/1/2018 12:46

I think the gas will be back on in 4 weeks...

[peterpowell21] 08/1/2018 11:59

boraki

yes it said production, but are they not the same thing,production-results.
Anyway i would be more worried about losing your biggest customer and them running up a $9m debt.

But as long as you are happy with your gamble, thats all that matters.

the fact is if this is not sorted very fast, the q1 PRODUCTION numbers are going to look bad, so another drop. Then the year end results will look bad. these are facts.
Hoping for this mess to be sorted fast is just hoping.

As for the price being higher, forget it, you are dreaming.
The government has both hand on VOG's ball's and they will now start to squeeze.
Well would you not do the same thing.

[jam2day] 08/1/2018 11:08

Bottletop hows this for derision - filtered for stating the obvious and reposting it.

[highasakite] 08/1/2018 10:57

No derision from me. We all know the risks of doing business in such countries.

[deutsch3] 08/1/2018 10:54

The pipe is laid - the gas is in the ground - Switch off and sit back! - Up to now we have had to drill 2 new wells to secure the contract, job done! - Sit back and re-write a completely new contract with a premium built in for damages and risk ( ie. a higher price). - The ball is now in our court. - This is a Commonwealth country and politics need to be 21st Century. Strong management required!

[bottletop] 08/1/2018 10:54

Here is a re-post of item 3258 (originally posted only about a week ago) I should add that I've been an investor for more than 10 years.

"Sounds good technically at VOG. My main concerns have been (and remain) all of the usual issues for doing business in central Africa: political stability; potential for corruption; actually getting paid for gas supplied; weaknesses in legal systems."

This drew the usual derision.

[fatnacker] 08/1/2018 10:06

Indeed haak, this is ENEO putting the squeeze on.

[highasakite] 08/1/2018 09:56

The governemnt either wants gas to power in Cameroon or it doesn't.

If it does it needs to pay ENEO regularly and on time so they can pay suppliers.


I wonder if the hydro companies are owed money by ENEO as well ?

[baticle] 08/1/2018 09:45

Given the Gov get a percentage anyway it just seems Silly on their part.

[fatnacker] 08/1/2018 09:38

I don't think it's that simple Baticle, cam gov not paying eneo is the issue, gas price is secondary, imagine the cam gov's reaction if the lights were turned out because of a gas price squabble, it's the gov's fault 100%, I can't find a reaction from altaqua (the gen set suppliers) their action over this would speak volumes.

[highasakite] 08/1/2018 09:23

The problem is ENEO.

Now if we supply Grenor/Dibamba both of these companies will supply power through ENEO.

If ENEO aint paying coz they are skint then both these new power deals can't take place.


Cam gov need to pay ENEO and keep payments up to date or the whole system falls apart and gas to power won't happen.

[baticle] 08/1/2018 09:18

I'd go with something like that, VOG was trading at about a 40p range before they even got the Power deal and their in a much better place now, this doesn't change the asset value of the company and I would assume operations can be scaled back to remain profitable. I'd like to think another energy Provider will step in to take gas, the demand is there, it's just everyone wants a taste of the profits without putting the price of electric up.

[highasakite] 08/1/2018 09:00

42p close today.

[muffster] 08/1/2018 08:59

World Bank loan

[a0469514] 08/1/2018 08:58

Shorters out in force today and this weekend. If you hold, I would sit tight. This will get sorted out. The country has to have power. Hear what Malcy says. Bet he says the same.