Victoria Oil & Gas Share Discussion Threads

[hermanngoring] 06/3/2019 14:15

MALCY:

Victoria Oil & Gas

Raising money today and what is looking like quite a shake-up at VOG who are raising £12.6m of which £6.5m comes from YF Finance Ltd and there is a proposed placing of up to £6.1m at 13p. After the book build and raise is complete Kevin Foo, executive Chairman is retiring from the board as a director and Executive Chairman to be replaced by Roger Kennedy currently Senior Non Executive Director.

Ahmet Dik remains as CEO but it is noticeable that this shake-up comes with significant cost reductions including executive salaries and company wide ‘savage’ cost cutting. Some major league international investors are said to be behind this action and the Government in Cameroon are supportive, indeed if actions were louder than words commitment to Logbaba gas in the last quarter has been immense.

VOG has been a very difficult call of late and I have many people, perhaps justifiably, questioning my faith in the company that remains friendless in the Bucket List. I do feel that this is exactly what needed to be done and with the huge gas demand in Douala giving opportunities now as well as in the future as the company develop Matanda gives me significant optimism. Again more later…

[hermanngoring] 06/3/2019 14:15

VOG have been losing 43% of top line revenue since Q2 2016 !!!!

Before RSM (Grynberg Junior now) gets his revenue costs are taken off it.

[waterloo01] 06/3/2019 14:12

Foo don't care, his company still gets a % royalty override, not effected by dilution as are based on sales (tad under 3% If I recall).

With the cut taken out of sales by Gryn, they will be losing close to 45% of revenue straight off, regardless of ongoing costs.

[smokyjoe] 06/3/2019 14:04

'the Company can now look to develop its Matanda project and optimise its Logbaba operations with a view to becoming cashflow positive in the near term' - ,or , in other words, no, the reinstatement of the ENEO licence has not made VOG cash positive. Worth noting.

[barony] 06/3/2019 13:48

Might be worth a punt on a few more with new team and more money? What do folks think?

[fatnacker] 06/3/2019 13:04

wallet removal can be quite tricky.

[hermanngoring] 06/3/2019 12:56

It was major surgery and it was touch and go at one point.

Clearly he has realised life is too short.

[napoleon 14th] 06/3/2019 12:42

AIM O&G, so WTF do you expect?
VOG could well make a comeback from these levels.

K FOO had major surgery a month ago, so probably decided on living
rather than fighting this one to the end....

[the_boy_plunger] 06/3/2019 12:05

....obviously they were a tad optimistic, but surprisingly close?!

[hermanngoring] 06/3/2019 11:59

Look 6 months ago people were saying VOG were going bust and the placing would be at 5p !!!!!!

[deanroberthunt] 06/3/2019 11:55

come on children....

[noveckingood] 06/3/2019 11:11

its my thread - you silly little man !

Did you mean to write that down ?

[fatnacker] 06/3/2019 11:00

NOVECKINGOOD6 Mar '19 - 10:15 - 5106 of 5106(premium)
0 0 0
"what has it got to do with you anyway ?"



its my thread.

[captcash] 06/3/2019 09:59

who is laughing now eh?
going to toast the doc if this goes down.

[hermanngoring] 06/3/2019 09:51

NOV

Got more than a million now.

[hermanngoring] 06/3/2019 09:50

8. Askar Alshinbaev

Assets: $810 000 000

Field: stocks, finances, development, aviation

Age: 48

Last year «Novaport», which is controlled by Mr. Alshinbaev (41%) Meridian Capital Ltd. has 50%, has obtain a full control over Volgograd and Tomsk, and obtained permission from the Federal Antimonopoly Service of Russia for the purchase of 100% of the share capital JSC “Astrakhan Airport” by Cyprus Investment Company T.S. Trans Siberia Co. Ltd

[fatnacker] 06/3/2019 09:35

Noveckingood, what's someone else's position got to do with you exactly? If you want to argue pointlessly there's plenty of trashed threads out there, use one of those please.

[pillow] 06/3/2019 09:24

Disgraceful Aim company diabolical shareholder value, what a fiasco, anyone signing up to this must be bonkers. Sell before it's too late.

[hermanngoring] 06/3/2019 09:22

I have never ruled out a placing.

My average is below 20p not that it matters.

I am not concerned one iota.

Not a kick in the nuts at all.

What would you prefer no fund raise and no company ?

99% of AIM oil and gas companies raise capital repeatedly. VOG are not immune.

This raise should get VOG to profitability now.

[noveckingood] 06/3/2019 09:18

Really, that's another level of deluded then.

Your average based on all of your posts is around 23p, how is todays news not a complete kick in the nuts - whatever you believe about the future prospects ?!

They have rinsed shareholders time and time again - disgraceful !!!

[hermanngoring] 06/3/2019 09:03

What inside track ?

I didn't rule out a placing.

Go read my previous posts.

Not burnt at all.

As I said many times I bought in for the long term future of this company.

[noveckingood] 06/3/2019 09:00

Thoughts Herman ?

Your inside track was not as strong as you thought, so you've either been burnt along with everyone else - or you were on the BB's to try and do a job for them ?

Which is it ?!