Victoria Oil & Gas Share Discussion Threads

[temmujin] 08/1/2018 22:38

bigsmoke..you could be right about the II being chinese.. i reckon this price fall has been orchestrated by Foo and his city mates

[temmujin] 08/1/2018 20:27

this debacle to me seems if its been planned all along just like the john scott resignation...maybe there are not enough shares in the 'right' hands and these bad things that happen all the time is done for a reason..like the stuck drill bit and lightening strike...i always thought Foo WAS STRAIGHT but im having my doubts now

[highasakite] 08/1/2018 18:58

h ttps://www.voxmarkets.co.uk/blogs/ascent-resources-ast-versarien-vrs-nostra-terra-ntog-malcy-vog-eog-edr-ujo-panr-pmo-hur-sdx-savp/


32:30 onwards

[broncowarrior] 08/1/2018 18:15

I don't think this can be spun in any way as good news. It is definitely bad news.

The hope is that the government sees sense and the stations reopen and start to take power; at the moment they are trying to force the government's hand which has had an obvious impact on VOG.

With this sort of fund raise VOG could look to buy a stake in a producing asset elsewhere if necessary. There are lots of corporate action/corporate decisions that can be made with this amount of cash.

[temmujin] 08/1/2018 17:44

you know 'maestro' is always right...takeover of vog this year...trust me

[temmujin] 08/1/2018 17:43

Chinese oil giant Sinopec is investing $1.02 billion in a US shale field as it teams up with Chesapeake Energy Corp. in a 50-50 joint venture, the companies said Monday.


China Petroleum & Chemical Corp. (Sinopec) will buy a 50 percent interest in Chesapeake's 850,000 acres in Mississippi Lime shale in northern Oklahoma, they said in a joint statement



Read more at: hxxps://phys.org/news/2013-02-sinopec-1bn-shale-stake-chesapeake.html#jCp

[highasakite] 08/1/2018 17:41

h ttp://www.proactiveinvestors.co.uk/companies/news/189676/there-may-be-long-term-silver-linings-for-victoria-oil-gas-expert-189676.html

[temmujin] 08/1/2018 17:40

Sinopec buys share in Angola assets. Money; Monday 24 June 2013 - 11:44am. Chinese company Sinopec has agreed to fork out $1.52 billion for American Marathon Oil's oil and gas field. Angola - A Chinese company is to buy a huge oil bloc off the coast of Angola. Sinopec has agreed to fork out $1.52 billion for ...

[temmujin] 08/1/2018 17:38

maybe that was Foo's plan all along to sell out to the chinese...just hope we get a decent price around 500p to 1000p

[temmujin] 08/1/2018 17:36

Sinopec is Still Shopping for Acquisitions Following $2.1 billion Deal ...
hxxps://store.naturalgasworld.com/sinopec-casts-eyes-on-overseas-targets-3495
Sinopec, which recently announced the $2.1 billion acquisition of Canadian oil and gas explorer Daylight Energy Ltd., is on the lookout to further expand its overseas presence with oil and gas acquisitions to feed the growing energy demand in the country.

[highasakite] 08/1/2018 17:36

htt p://www.proactiveinvestors.co.uk/companies/news/189637/victoria-oil-gas-hit-as-major-gas-customer-deal-expires-189637.html

[temmujin] 08/1/2018 17:26

hxxp://www.sinopec.com/listco/en/

Already present in exploration and oil and gas mining in Cameroon through Addax Petroleum, China’s largest oil and gas group, Sinopec, created Sinopec International Petroleum Service Corporation Cameroon or Sinopec Service Cameroon Ltd for short on October 2, 2014. According to the legal announcement, the new entity significantly broadens Sinopec’s product range in Cameroon.

Apart from exploration and oil and gas mining, Sinopec Service Cameroon Ltd plans to be involved in some or all of the following: oil product trading, bitumen production, oil product quality control, lubricant production and sale as well as oil refinement. In the latter area, Sinopec is first in Asia and number three worldwide.

Directed by Huang Xialong, its first Managing Director, the new subsidiary of the Chinese oil and gas group, which has increased its overall oil production by 40% in Cameroon, is based in the country’s economic capital, Douala

[temmujin] 08/1/2018 17:24

ask yourself if the chinese can trade successfully in cameroon then why not VOG?

last year China became the second largest oil producer in Cameroon. China’s prominence in Cameroon’s oil production occurred after China Petroleum and Chemical Corporation (Sinopec) acquired 80 percent of the shares previously held by Shell in Pecten Cameroon Company controlled by the Addax company, with Cameroon’s National Hydrocarbons Corporation (SNH) holding the remaining 20 percent of shares. The new Sino-Cameroonian entity goes by the name Addax Petroleum Cameroon Company (APCC). APCC general manager Yi Zhang said, “I am delighted with the efficiency with which the purchase transaction was conducted. I thank on the other hand the government of Cameroon for having agreed to this initiative.” Yi had reason to be pleased, as Sinopec’s acquisition brought the company 11 exploration blocks and 42 producing fields

[temmujin] 08/1/2018 17:18

been told tonight a chinese company might be interested in vog...watch this space

[waterloo01] 08/1/2018 17:03

Best of luck with it. I'm not thinking of investing so will leave you to it.

[highasakite] 08/1/2018 17:02

The debt that VOG currently have is covered entirely by the recent fund raise. The recent fund raise was for capex spend in 2018 including another well. VOG have stated already that capex spend will be looked at for 2018 and can be reduced to buttons as will happen going forward until ENEO issue resolved.

The only capex needs to be small lengths of pipe to connect thermal customers to network.

[waterloo01] 08/1/2018 16:56

Whatever the outcome, be it the current owners or a govt proxy, the stations will probably reopen, and maybe soon, but I doubt VOG will get the money owed to it nor a premium on the gas price going forward. The margin they would end up with isn't enough to service the debts let alone build anything out. It's also only seasonal. IMO

[highasakite] 08/1/2018 16:49

waterloo01

Are you suggesting the gas/power phenomena is dead in the water for Cameroon ?


What will happen to Grenor and Dibamba power stations which have had big world bank grants to be constructed and to use gas ?

Are these dead in the water now ?

[waterloo01] 08/1/2018 16:45

highasakite, because it's where the volume is and where the volume will be (or would have been) going forward. It supports the rest of the business. Think for a second, what would have happened if rather than this news they had announced, more power deals (the 'low value' business). The share price would have doubled.

Following your and Malcys logic, the share price should have sunk if they won more low value but massive volume business. The 'higher' value customers are few and far between (and less so if there is limited grid power) and many not much more reliable in paying bills than the Govt.

All IMO and best of luck. Might be a storm in a tea cup, but only if they get the power stations back and at a rate that's profitable.

[highasakite] 08/1/2018 16:37

"The only profitable part of the business is power generation, not gensets, so effectively the business model for the current owner is screwed."


Thermal is up to $16 mmbtu
mini gensets up to $10-12 mmbtu

ENEO was $7.5 mmbtu


ENEO were paying the cheapest rate. Thats is when they could be bothered paying.

Why is the business model screwed ?

[highasakite] 08/1/2018 16:22

waterloo01

Your talking nonsense.

The real profit is in thermal power at up to $16 per mmbtu.

Now if ENEO aren't going to pay for gas for Logbaba and Bassa what will they do at Grenor/Dibamba which have recently had big grants to set up as gas plants ? The gas to power initiative has been highly touted by the Cameroon governemtn for years.


If ENEO can't pay now then they can't pay for Grenor or Dibamba gas which means the whole concept of gas to power transmition in Cameroon will end. I don't think so as gas is the best alternative to hydro which as we know is seasonal.

VOG (GDC) survived perfectly well before Logbaba/Bassa came online and can do well without them especially as they aint paying for the gas they use.

[waterloo01] 08/1/2018 16:17

Just read malcy's comments. Basically suggests it might be for the best. Fool.

Assuming the company survives (Vog not GDC) and that is far from a given, the most likely outcome is either the govt use this to take over the power station,(would be an election winner, done in the name of 'national' interest). VOG won't get paid what it's owed and they will be forced into supplying gas at market rates at best (they have a situation now where there is a surplus of gas so buyers market).

Given the margin to VOG they will barely if ever break even. Add in Grym and who knows.

The only profitable part of the business is power generation, not gensets, so effectively the business model for the current owner is screwed.

Govt will probably own the lot and sell it off down the road.

[highasakite] 08/1/2018 16:11

It's a storm in a tea cup Bronco.

[broncowarrior] 08/1/2018 16:01

With the placing there is no financial distress in the medium term and when this power BS is resolved it should re-set.