Victoria Oil & Gas Share Discussion Threads

[highasakite] 15/1/2018 09:39

3waysout

"VOG will have to make a provision, net cash flow (in the highly unlikely scenario of a contract resumption) will shrink, volume will disappear"


What utter nonsense.

Are you saying gas/power won't happen in Cameroon ? utter claptrap and you know it.

There have been grants galore to IPP plants to move to gas from the world bank.

[fatnacker] 15/1/2018 07:30

well someone clearly disagrees with you, over 5% holding declared 0700

[3waysout] 15/1/2018 06:35

Even if the ENEO deal on settling the outstanding materialises, this revenue stream is over from a profitability p.o.v. VOG will have to make a provision, net cash flow (in the highly unlikely scenario of a contract resumption) will shrink, volume will disappear. Lots of gas now with no where to go. And you can forget about Matande - no one will ever fund this now.

The Directors knew this which is why the capital raising was made to secure their salaries for the coming years. There needs to be an investigation here. The future of sales via the power grid is so far off and without multilateral agencies credit intervention these deals will never be achieved in the 3-5 year time frame. So what are shareholder waiting for to justify the share price at this level - thermal sales ! Only the foolish will by this soundbite. The business will collapse and shareholder are simply funding the director/management lifestyles. Until the cash from the equity raise runs out. And workers in Cameroon will benefit, so in fact VOG should be re-classified as a listed charity.

[highasakite] 14/1/2018 13:53

"HAAKs my favourite pick."



Thanks for making me your favourite pick fella. Much appreciated.

[highasakite] 14/1/2018 13:45

"without Gas to Power VOG is not viable in the longer term with the levels of debt it has on the books."


drh

you are totally wrong on this one. The recent fund raise clears the debt in one hit.
If ENEO deal doesn't come through ( I think it will be very shortly) then VOG will slash capex to virtually zero.

If big power is finished in Cameroon (which I doubt very much) VOG will have to concentrate on thermal clients and CNG.

[deanroberthunt] 14/1/2018 12:35

lets see who's the first to spin a positive from "I've had a long chat with the company and decided to remove the stock from my bucket list"...

HAAKs my favourite pick.

[deanroberthunt] 14/1/2018 11:45

all you have left now are those that make the story fit their delusion....which is otherwise known as dealing with hope not facts....and hope is just the denial of reality, aka delusion

[deanroberthunt] 14/1/2018 11:43

took him long enough....that fat brown envelope and free trips and lunches probably clouded his judgement for a while :)

[waterloo01] 14/1/2018 11:12

So even Malcy's finally seen the the light!

[jam2day] 14/1/2018 10:22

Nice - you have a great weekend.

[jam2day] 14/1/2018 09:42

"Malcy removing it from his bucket list" not according to this - releases 8th Jan. Would you mind awfully to post your article!
Profile Photo
Malcys Blog
Analyst
15:180 8 Jan
Victoria Oil & Gas

VOG announced late on Friday that it had been informed that GDC had been informed by ENEO that it ‘was not in a position to extend the gas supply agreement’ that had been currently been under negotiation. As a result it had to stop receiving gas from GDC who switched off the supply. ENEO said that the reason for this was that it was due to growing arrears from the Cameroon Government and therefore specifically not a pricing issue.

VOG has said that this is a ‘temporary issue and expects a resolution in the short to medium term’ but clearly will affect GDC for the time being. Apart from a sharp cut back in costs, VOG can accelerate its focus on thermal customer demand in Douala where it already has 30 existing customers, and is already building solutions for new ones, albeit that will take a little time.

Gas is still, after hydroelectric power, the cheapest fuel for power generation in country and in the dry season increasingly one upon which industry and business has become dependent. For this reason one must carefully consider whether the Government, by starving ENEO of money to pay for gas supplies and hence electricity through the grid, is making a wise choice. This will result in load shedding and blackouts which would be increasingly unpopular in what we must remember is election year.

Whilst losing 53% of one’s business overnight is hardly business school protocol, longer term there is much to be gained from this move. It will, as I have said, accelerate GDC’s move into the thermal customer market which it should be remembered carries a much higher margin, and in future lead to significantly less of a reliance on ENEO. After all the Douala and Cameroon energy blueprint envisages the use of not only Logbaba but Matanda gas for power generation and thermal supply to business customers, it is unlikely that this action will have been fully thought through and may yet prove unwise. Having said that it will increase to focus of GDC to engage with other customers across the board and lessen their dependence on a small number of power generators.

[fatnacker] 14/1/2018 08:48

the country's skint drh, imf cash is the key, when the brown outs bite and Paul Biyas looking for votes the bills will be paid and the light go back on, the biggest clue in all this would be Altaaqas gen sets remaining in place, or not.

[deanroberthunt] 14/1/2018 08:34

Malcy removing it from his bucket list....VOX market update 9th Jan
The first time he's been less than upbeat, even saying "I don't think it's game over but losing over 50% of revenue overnight is not good...", hmmm....yeah, but it's in the back of your mind.

without Gas to Power VOG is not viable in the longer term with the levels of debt it has on the books......they really have exposed the equity by not securing some of the expansion costs...lucky they got that placing away, eh...should pay the BODs salaries for the next few years.

being restorative, they've done a sterling job technically with the infrastructure and getting another 2 wells into production, Kudos to that....just in the wrong location....Africa just doesn't have the GDP growth to make these sort of investments worthwhile....I can see this going sideways now for the rest of the year, whilst your money would be worked much harder in a number of Oil stocks highly leveraged to POO.....some of those could easily 4-5 bag in the next 6 months, some even more, bit like the Miners did a couple of years back....even some of the big mid caps could 1-2 bag in short order.

[fatnacker] 13/1/2018 08:29

drh IMF rules say that wont happen, check out the criteria for the recent $660 million funding, it specifically mention's the governments poor record on power sales/distribution.

[deanroberthunt] 13/1/2018 08:18

this will end up State owned...

[philippem] 12/1/2018 16:00

Will we get an RNS at 4:31 ???

[highasakite] 11/1/2018 19:13

When are we going to find out who this mystery buyer is ?

[highasakite] 11/1/2018 19:11

another 250,00 buy at 40p reported after the close of play.

[deanroberthunt] 11/1/2018 16:51

all the gas in the world but nowhere to sell it...thermal customers, lol...taking 0,001 scuff a week

[deanroberthunt] 11/1/2018 16:51

no higher than it was in 2013, 5 yrs later...

[highasakite] 11/1/2018 16:48

A shade under 13 million shares traded now so far this week.