Victoria Oil & Gas Share Discussion Threads

[highasakite] 02/2/2018 15:17

we will do

[man1] 02/2/2018 14:14

Be nice to get an update soon on the current situation .

[highasakite] 31/1/2018 17:58

637k buy at 38p reported after the close.


Yanks again ?

[highasakite] 31/1/2018 12:23

400k buy at 38p

[larry laffer] 30/1/2018 11:25

Isn't that end of the business usually more profitable than the bits in the middle.

don't know if this fits exactly but

They have their hand on the isolation valve at the well, by controlling the licensing. They make a rake at that point.

Someone else does all the heavy lifting

They control the metering at the point of use and hence the pricing, prsumably they collect all the cash from the domestic payer's etc. And susbsequtly keep it.

seems like a good business model to me if you are part of the corrupt politics in the region, but not an ideal one for the utility companies.

[fatnacker] 29/1/2018 10:33

I'm sure that's what the intent is Larry, I'm struggling to understand the commercial framework, why is it state run when producers and end users are public?

[larry laffer] 29/1/2018 09:42

fatnacker

maybe the cam govt are trying to make sure the country benefits from their mineral & fuel resources. history would tell you that most african states have been pillaged for centuries by more powerful organised nations. i.e. the frogs, dutch & british.

but i agree they don't need to be too involved at the "doing" end of the job. Not many govt ministers are able to mix politics and commerce succesfully.

[highasakite] 29/1/2018 09:22

yes or his boyfriend. He is obsessed with the Chinese.

[fatnacker] 29/1/2018 09:21

Is that temmujin?

[bagi58s] 29/1/2018 09:04

Rumours of takeover by a powerful company / nation China???

[waterloo01] 29/1/2018 07:32

It will be sorted in a few days, says girl from the office. lol.

[fatnacker] 29/1/2018 07:27

I don't think cameroon indebtedness is unique, what I don't understand is the cam gov's end user involvement in almost every aspect of commerce.

[highasakite] 28/1/2018 21:53

Government skint:

[bionicdog] 26/1/2018 21:12

Don't listen Maestro , buy more.

[highasakite] 26/1/2018 18:36

What happened to Boraki's low 10's forecast ?

and where the hell is he anyway ?

only appears when we get a bad RNS. Once the shares start to recover he is not sighted.

[highasakite] 26/1/2018 16:48

I was watching level 2 this afternoon and as soon as a sale hit level 2 it was swallowed up IMMEDIATELY by a buyer.

[hashertu] 26/1/2018 15:55

Fatnacker. Thanks.

hxxp://fr.africatime.com/cameroun/articles/letat-camerounais-traine-une-dette-de-pres-2-000-milliards-de-fcfa-vis-vis-des-entreprises

After reading this article from AfricaTime, you can see that ENEO's payment problem is a small part of a bigger issue. Government control and financial mismanagement seem to go hand in hand, whereever you are in the world.

[hashertu] 26/1/2018 11:06

Fatnacker. You say:

"anyway it looks like the cam govs trying to pull a rabbit out of the hat"

Can I ask what you are referring to?

[fatnacker] 26/1/2018 07:37

well spotted pazzuz, he's a gonna.

[fatnacker] 26/1/2018 07:36

philippem, 109 was just one aspect of use for the funds raised, if the eneo contract was renewed and expanded I dare say 109 would have been a necessary reality, other aspects don't seem to raise much of an eyebrow, "gas to power solutions" is the first item on the list but we all clearly missed the nuance in favor of obsessing about the previously unmentioned well 109, myself included, anyway it looks like the cam govs trying to pull a rabbit out of the hat, this situation could resolve itself in short order.

the net proceeds of the fundraising, together with additional capital intended to be sourced from local banks will allow the Company to accelerate growth in gas production to meet the opportunity that exists in the Cameroon power sector.

This will enable the Company to:
-- Target the c1,700MW power deficiency in Douala with gas to power solutions
-- Deliver 100mmscf/d by the end of 2021
-- Drill additional well La-109 at Logbaba Project
-- Increase Logbaba gas processing plant capacity to 70mmscf/d
-- Expedite, subject to Government approvals, development of Matanda and Bomono Projects