Victoria Oil & Gas Share Discussion Threads

[pazzuzu] 25/1/2018 20:43

Coatsax, that company is beyond over valued and you posting this on every thread is never gonna help your ramping efforts.

[philippem] 25/1/2018 20:18

Good find.

[highasakite] 25/1/2018 19:52

Cameroon government raising funds so they can soon pay their debts to ENEO and get gas to power back on the agenda in Cameroon.

[philippem] 25/1/2018 19:28

I have no proof but the fact that 109 was never talk about before the found raising is a bit suspicious. Of course nothing official just my view on the placing. IMHO as usual.

[highasakite] 25/1/2018 19:28

Massive trades today.

Someone stake building ?

Takeover ? or ENEO taking gas again very soon.

Clearly well undervalued.

[bionicdog] 25/1/2018 18:29

Great news! Who told you btw?

[fatnacker] 25/1/2018 18:26

At the time of the fundraising the hope was for eneo contract renewal and further contracts, you can speculate that it was known at the time of the fundraising that the contract would be disrupted and the funds raised were to "carry the company over" that's not an allegation I would feel comfortable making publicly.

[temmujin] 25/1/2018 18:00

rocket...cheers,you might be right


Been told tonight vog will be taken over by the chinese..you all heard it here first

[philippem] 25/1/2018 17:46

The issue is relatively old. And the fundraising was to cover VOG as ENEO sort out the payment issue with the government during the dry season in Cameroon. Hopefully the issue will be resolved quickly.Currently ENEO doing maintenance work to explain electricity disruption to the network. Check ENEO Cameroon website.The situation will become worse as the dams producing electricity become dry.

[pazzuzu] 25/1/2018 16:46

Hello new here. Any opinions on this eneo business and when or if that will get resolved. Cheers

[fatnacker] 25/1/2018 16:14

bit of movement, more buying or news driven? be nice if the payment issue was resolved and supply resumed to eneo.

[philippem] 25/1/2018 14:10

Something up. RNS soon. Today or tomorrow. IMHO

[rocket fuel] 25/1/2018 12:33

maestro, bobsworth is on the VRS thread, come join in on the potential 10,000 bagger over there. It's the graphene revolution, don't miss out.

[robbiekeane] 24/1/2018 11:11

why not ask him?

[bigsmoke] 24/1/2018 07:13

Yes, one would think one of our 150 or so employees has been spending years developing the CNG or LNG plan. Especially since the clear impression was given by the BOD that it was underway. Surely they (KF) must answer for his statements.

[temmujin] 24/1/2018 04:34

SO WHY ARENT WE SELLING OUR GAS TO THESE GUYS?

New Africa Gas Comes at the Right Time for Europe
By Angelina Rascouet and Anna Shiryaevskaya
15 December 2017, 00:01 GMT Updated on 15 December 2017, 12:05 GMT
Cameroon is said to start exports of LNG in February next year
Shipments could help ease Europe’s supply squeeze over winter
A week ago, Cameroon was getting ready to jostle for space in a global liquefied natural gas market already crowded with new supplies from the U.S. and Russia. Now the extra output couldn’t come at a better time.

France’s Perenco SA and U.S.-traded Golar LNG Ltd. will start shipments from their $1.2 billion LNG project off Cameroon in February, according to people familiar with the plans. That’ll be just in time for a surge of almost a third in European imports, according to consultants Energy Aspects Ltd., after a cold snap and disruptions at supply hubs in Austria, the U.K. and Norway sent gas prices to a four-year high.

“It’s good to see a new African exporter coming into the market,” Trevor Sikorski, head of natural gas and carbon research at Energy Aspects, said by phone. “An obvious market is Europe, particularly when the markets can be a bit stressed.”

Cameroon enjoys a geographical advantage in the European market. It takes about 11 days to ship a cargo to Britain, while a tanker from Qatar, Europe’s biggest supplier of LNG, takes about two weeks. Saving a few days may prove crucial during freezing weather or a sudden supply crisis -- a growing risk as the region’s own gas infrastructure ages and becomes vulnerable to breakdown.

Floating Facilities
The Cameroon project -- named Hilli Episeyo after its production vessel -- is only the second floating LNG facility to come into production worldwide, after Malaysia launched a vessel last year. While the latter was built from scratch, the Cameroon unit is a converted LNG tanker. Its success could trigger more investments in the technology, potentially helping companies such as Ophir Energy Plc, which needs funds for a project off Equatorial Guinea.

“Once this project demonstrates its technical, operational and commercial viability, smaller E&P companies and funding sources should become more willing to develop and finance such projects,” said Claudio Steuer, senior visiting research fellow at the Oxford Institute for Energy Studies.

The recent price jump on the continent has made northwest Europe a more attractive destination for tankers carrying the super-chilled fuel. The U.K. is now set to take the first LNG from Russia’s Yamal project, rather than Asia as initially expected. The $27 billion plant in northern Siberia started production earlier this month, while Cove Point in Maryland is readying for operations too.

The premium for LNG supplies into northeast Asia, the biggest buyer, over southwestern Europe narrowed to $0.80 per million British thermal units this week from as high as $2 in October, according to prices published by World Gas Intelligence.

Net Exporter

Russia’s Gazprom PJSC has an eight-year contract to sell Hilli Episeyo’s LNG. While the project is reasonably small -- 2.4 million tons a year compared with 5.5 million tons from Yamal’s first of three planned units -- it will make Cameroon a net gas exporter and the sixth African nation to supply LNG. Neighboring Nigeria is the biggest, while Angola, Algeria, Equatorial Guinea and Egypt also produce the fuel.

Perenco declined to comment, while Golar LNG didn’t return calls. Gazprom’s marketing and trading unit in London declined to comment. The unit chartered LNG vessel Clean Energy to help transport Cameroon’s volumes.


LNG projects such as Hilli Episeyo, while small, could be vital for meeting accelerating demand, according to OIES’s Steuer.

“Demand for LNG is growing three times faster than pipeline gas,” he said by email. “The industry needs a technically and economically feasible solution for smaller-capacity projects.”

Ship tracker Pan Eurasian Enterprises Inc. agrees, saying all extra production capacity will help to feed expanding need, especially in Europe.

For consumers on the continent, the Cameroon supply “won’t be a game changer,” Pan Eurasian President Zach Allen said. “But every little bit adds up.”

[temmujin] 24/1/2018 04:20

Victoria Oil and Gas Plc (VOG), an oil exploration and production company that supplies thermal gas from the Logbaba project in Cameroon, is planning to produce compressed natural gas.

On April 4, the oil and gas company announced that it had begun “discussions with strategic and financial partners to launch the project in 2015” in Douala, Cameroon’s economic capital, which VOG considers to be an important market.

[highasakite] 22/1/2018 11:30

Why are you so worried waterloo01 ?

I am not in the slightest.

[waterloo01] 22/1/2018 11:25

But if they don't get paid for it, no point. Still predicting they will get the power deals back 'any day'? Company line is that GDC will come out of this 'stronger'. Really, certainly smaller.