Victoria Oil & Gas Share Discussion Threads

[blakieboy7] 19/4/2023 10:57

There's a f surprise

[sparty1] 19/4/2023 10:14

Net result post current proceedings..

Employment secured for key personnel / shareholders shafted.

[sensemun] 18/4/2023 13:26

2.13 Inviting key stakeholders to attend a virtual meeting in an attempt to ascertain whether there
was common ground between them which may result in a restructuring proposal being put
forward. Whilst not all parties attended, we have since been advised that dialogue is continuing
independently, and good progress is being made.

[sensemun] 18/4/2023 12:37

Progress Since Appointment
Since our appointment, we have carried out the following (amongst others):
2.6 Completed our initial statutory obligations in relation to the Administration process, which
includes (amongst other things) statutory filings at Companies House, securing bank accounts,
recovering Company records (electronic and physical), notifying directors of their obligations
and obtaining a Statements of Affairs from them, liaising with employees, notifying creditors
and other key stakeholders of our appointment.
2.7 Appointed and worked closely with Armstrong Teasdale, given their prior knowledge and
involvement in the Company’s affairs. This appointment was made following recommendations
from both the QFC and the Company’s board, and also given their insolvency expertise.
2.8 Holding numerous meetings with the QFC and the board to ascertain the current position in
relation to assets, cash availability and group structure.
2.9 Taking urgent steps to preserve assets, including dialogue with the various subsidiary entities.
2.10 Working with our legal advisors to make necessary board changes to subsidiary entities where
required to protect the Company’s position.
2.11 Working with overseas lawyers in relation to ongoing claims affecting the Company and/or
subsidiary entities, details of which must remain confidential to protect the Company’s position.
2.12 Making unfortunate but necessary staff redundancies given funding constraints.
2.13 Inviting key stakeholders to attend a virtual meeting in an attempt to ascertain whether there
was common ground between them which may result in a restructuring proposal being put
forward. Whilst not all parties attended, we have since been advised that dialogue is continuing
independently, and good progress is being made.
2.14 Engaging with a creditor of a key subsidiary entity where action was taken in relation to an
outstanding debt to freeze assets in the local jurisdiction. The subsidiary’s leadership team
were successful in agreeing a settlement.

2.15 We have been in regular dialogue with the QFC who has offered to support the administration
process given that it has a good understanding of the Company and its subsidiary operations
and assets.
2.16 Dealing with various ad hoc matters and communications in relation to the Company and its
subsidiaries as they have arisen.
Administration (including statutory compliance and reporting)
2.17 Following our appointment, the strategy for the Administration was carefully assessed to ensure
that a coherent planned process for the case could be achieved. This work may, where
appropriate, have included liaising with solicitors to deal with any legal considerations
surrounding the Company’s insolvency and liaising with valuation agents about the most
appropriate means of realising the value in the Company’s business and assets.
2.18 We have also dealt with a number of statutory formalities which are required of us under related
legislation. Typically, this includes issuing and filing all appointment notices with creditors and
the Registrar of Companies and advertising our appointment in the London Gazette, together
with preparing these proposals to creditors outlining how the purpose of the Administration may
be achieved.
2.19 Other statutory duties performed are outlined in further detail in the fees estimate/fees
information which can be found at Appendix E. Please note that much of this work will have
been performed to comply with statutory requirements and as such may not necessarily add
any value to the insolvent estate.
2.20 One particularly complex matter that needed to be dealt with was the Company formerly being
an AIM quoted company. We had to negotiate with and obtain the release of the share register
database from a third party before being able to give notice to more than 3,000 shareholders.
This resulted in a high volume of communication and queries from shareholders and a
dedicated telephone line and email account being created.

[sensemun] 18/4/2023 12:35

It is a big document. Lots of scenarios

You need to read it all.


eg

n. In conjunction with the Company’s solicitors, Armstrong
Teasdale, we have made significant progress ahead of exploring restructuring and recovery options with the QFC and other key stakeholders.

[talais] 18/4/2023 12:07

Can you explain in short what it say, cheers

[sensemun] 18/4/2023 11:38

LSE today:

Anyone who wants a copy of the pdf document just released by the administrators drop me an email:

[e-mail]

[sparty1] 17/4/2023 10:40

Re Ray Fenn plus several AKA`s..

Definition of a Fen



" flat low-lying areas of eastern England, mainly in Lincolnshire, Cambridgeshire, and Norfolk, formerly marshland but largely drained for agriculture since the 17th century."

VOG Certainly drained Ray... Wrectum season tickets going up next season Fenn in league 2. Maybe ask Roy for a sub?

#RoyandRay show.

[sparty1] 17/4/2023 10:26

iceage..
"if you all invest in block energy tomoro you wont have to worry about this share ever again..a proper oil and gas company thats going places and not down the swanee"

er..BLOE down today on underwhelming news..@ 1.50 11% down? Unfair assessment by the market? Not a great tip..

[dil 21] 15/4/2023 01:18

Oh ffs my mates want Wrexham promoted .. sorry ex mates :-)

[dil 21] 14/4/2023 10:07

Nah still plenty of time for them to bottle it like they do every year.

[sparty1] 14/4/2023 10:00

looks like WRectum will be playing with the big boys next season..ie Barrow and Sutton united. RayFenn will be able to travel to exotic towns ...and get a better selection of sheep girlfriends.

[pjj71] 13/4/2023 14:32

Worth a punt?

[sparty1] 13/4/2023 09:11

iceage... I don`t hate the idea of BLOE but that rise soon melted away..Needs a big rns.

[dannythelark] 11/4/2023 21:40

Kevin Foo, you dirty, lying, thieving scumbag your a frukin thief!

[iceagefarmer] 11/4/2023 10:51

told you so..block up 27% today,just the start

[iceagefarmer] 10/4/2023 22:09

if you all invest in block energy tomoro you wont have to worry about this share ever again..a proper oil and gas company thats going places and not down the swanee

[dannythelark] 31/3/2023 19:34

I thought that fat crunt Foo had some illness that’s why he resigned! Another frukin lie JadeVault. Dirty thieving scrumbag

[westhambrian] 30/3/2023 17:46

Sensemum, I used Halifax to deal my shares, they told me they are no longer trading vog shares, I can’t sell them there’s just a number to call, I have 3065 shares, I’ve never had a dividend yet Kevin foo got money all the time, as a share holder why didn’t I get a dividend ?
Are they in administration or not, as there still supplying gas and oil aren’t they ?

[sensemun] 30/3/2023 17:08

VOG are in a "trading administration"