Victoria Oil & Gas Share Discussion Threads

[fatnacker] 29/1/2019 08:47

There is no claim against vog by "the residents" there are certain claims made by the residents, a clear difference in meaning.

[johnmp] 29/1/2019 08:33

As for the claim, I wonder how quick it will disappear once any deal is completed (if any deal is completed?).

[the drewster] 29/1/2019 08:28

Only a little over 12 months ago, they raised $26m @ 57p


In Sept '18 when announcing the results to June, they had barely any cash left, and no headroom within any of their existing credit arrangements.

It now seems clear they need cash, but who will give them any and on what terms is likely to determine the whole future of the company.

[dan de lion] 29/1/2019 08:24

They survived last year on one third of the current gas sales.

[deanroberthunt] 29/1/2019 08:23

there's a claim against them from the residents et al

[johnmp] 29/1/2019 08:18

have vog been paid yet for the lost revenue?

[johnmp] 29/1/2019 08:13

gas out usually is cash in?

[johnmp] 29/1/2019 08:11

At todays share price, VOG would need to issue 10% more shares to raise 2m.
Which is probably 3 months income now, so why bother.

No need to drill anything extra right now, maybe within the next 2 years?

Do not know of any other extra income going out, I assume that none of the current loans are due?

[larry laffer] 29/1/2019 08:10

Jonesy boy

If you had a pile of cash would you lend it to Foo et al.

Gas out of the gate isn’t the same as cash in.

As we well no from the last ENEO contract.

They also pulled the plug on the last debt financing application. Something to do with uncertainty in the business.

[mjones727] 29/1/2019 08:05

"Which plainly means they are looking for money again. Debt financing will be difficult. "


Why will debt finance be difficult oh wise one based on average 12 mmscf/s ?

[philippem] 29/1/2019 08:05

The problem cash position. They need a small reserve of cash to see them through any non payment.

[mjones727] 29/1/2019 08:04

"so confirmation that cash is needed and soon, but the arrangements haven't been made yet so it wont happen for a few weeks."

Sleveen

Cash is not needed soon.

At 12mmscf/d average sales cash is not needed soon


Admin costs down 55% (H1 2018 compared to H1 2017)

Zero capex

At $24 million annual revenue VOG will be generating cash I can assure you.

[dan de lion] 29/1/2019 08:02

OK, how much do they pay for the gas and to whom.

[larry laffer] 29/1/2019 07:59

In the RNS it says

“and currently is assessing various potential funding options......”

Which plainly means they are looking for money again. Debt financing will be difficult. They appear to have done the rounds looking for the market to fundraise. Wonder what price they pitched at. Might explain the increasing frequency of production updates since gas to ENEO was restarted.

[deanroberthunt] 29/1/2019 07:58

2 unnecessary RNS in days...wonder why

[bigsi2] 29/1/2019 07:55

Out of the ground for free ?? that's a new one

[sleveen] 29/1/2019 07:54

Ask yourselves, if VOG genuinely want to impress with how much cash is being generated then why not state it.

Give a figure actual cash generated after all costs inc G&A, rather that provide a revenue figure.


What are VOG hiding?

[deanroberthunt] 29/1/2019 07:50

ddl

there's a lot of fat fingers in the pie mate

[dan de lion] 29/1/2019 07:50

The gas comes out of the ground for "free" how much can it possibly cost to clean it up and distribute it over the existing network, for Christ sake.

[deanroberthunt] 29/1/2019 07:48

..the statement didn't refute the claim that they were looking to raise funds via a placing or similar

[deanroberthunt] 29/1/2019 07:46

they need to pump it so they can attract buyers so the places can offload, they can't offload into no buying it would decimate the share price below their blended avg.

[deanroberthunt] 29/1/2019 07:45

this is just chaff to extend the period the placees can sell their shares

[sleveen] 29/1/2019 07:45

----> so confirmation that cash is needed and soon, but the arrangements haven't been made yet so it wont happen for a few weeks.

[johnwalton] 29/1/2019 07:45

Clearly states . When we are ready we will let you know.Migjt not need much if any due to increased cash flows.