Victoria Oil & Gas Share Discussion Threads

[biggie3] 03/1/2024 16:38

Both administrators resigned.



So what is next?
20% more sales and first profit in 2024?

[dusty101] 02/1/2024 16:51

Any chance of Vog relisting this year. Probably more chance of a meteorite strike. Preferably one lands on Dorking, as we all know what grunt lives there.

[sparty1] 29/12/2023 14:41

We are due another ice age Farmer but even if the earth wobbled off it's axis a few hundred thousand miles the planet will still be heating up.
Don't worry though, neither of us will be around and VOG will still not be making a profit.

I reckon you have "Bloe"wn it.

[iceagefarmer] 26/12/2023 08:05

oil and gas stocks will recover when we get the mini ice age later

[iceagefarmer] 26/12/2023 08:03

i'm into bidstack now...gaming getting more popular, 100 bagger in time

[dannythelark] 25/12/2023 22:11

Happy Christmas Kevin Foo you frukin, lying thief. I hope Santa brings you what you deserve.

[sparty1] 21/12/2023 16:09

Iceage seems to have melted away. No posts since october, looking at Block Energy not surprised.
Failed ramper just like Fenn..
Even Danny's given up the FOO Fighting! or given up the ghost..

[sparty1] 21/12/2023 16:05

iceagefarmer. You have gone very quiet about BLOE.. been sinking faster than Ray Fenn's bank balance..

[sparty1] 06/12/2023 14:11

I doubt anyone noticed he resigned. Shame the Board did not resign a few years ago..

[jonesy100] 05/12/2023 20:36

Does anybody know what happens next now that the administrator has resigned. Sorry if I missed posts on this. Thanks

[biggie3] 23/11/2023 01:22

The world’s a stage…
Biggest SHS some trust Companys…
Buying a Company worth half a billion for only 25 million?

[sparty1] 22/11/2023 12:35

Are you suggesting some sort of collusion with government ministers and the VOG BOD? or the CEO Ned Kelley? Surely not!
Well if there is corruption it`s not working. Those price rises prove that..

I just wonder what the biggest shareholder thinks of all this. Must be very angry.

[biggie3] 22/11/2023 08:47

‘The way vog are acting currently the government may take terminal action.’

Probably one or more members of the naturally non-corrupt government are into the scam, working together with ….?

[sparty1] 17/11/2023 12:20

The Scenario is clear .Shareholders have no value unlisted. VOG does not make a profit..it never has. = No listing and shareholders shafted.
The only hope is to sell the lot but that will turn into a mechanism to take away any residual value or voting rights from current holders.
The way vog are acting currently the government may take terminal action.

[biggie3] 15/11/2023 18:18

S1,

List again? Why?
Making a fortune? At least the mayor SH?

If not relist, what is yoy scenario if VOG and/or GDC profitable?

[sparty1] 13/11/2023 18:06

Loving the optimism biggie. Why the F` ck would they list again? and Bia FFS! must be nearly 90! I hope he lives long enough to spend the cash in those brown envelopes..

[biggie3] 10/11/2023 07:31

Sparty1:

There is still life in the scenario, where GDC receives permission from President Bia to increase the sales prices of gas, retroactive to the beginning of this year.
Perhaps not the full 20%, but a little less.
In any case, this greatly increases the chance that GDC will become profitable for VOG from and including this year.
If the administration is maintained until at least the next annual figures of GDC and VOG, VOG may come out of hibernation, re-register on the stock exchange, and the VOG shares will move to a stable value and price.

Patience is a virtue.

Toi, toi, toi...

[sparty1] 09/11/2023 13:37

No doubt the fearless Roy is on his way to Cameroon to face down the government and justify VOG`s price rise..
I hope he enjoys prison food Cameroonian style.
I wonder how many times Kelley has actually set foot in Cameroon.
Meanwhile salaries are still being taken no doubt? and all you shareholders who did not heed the warnings over the years are basically foo ked.

[sparty1] 09/11/2023 13:33

"(Business in Cameroon) - Gas supplier Gaz du Cameroun (GDC) is still defying official orders to suspend its price-hiking decision. Indeed, after a meeting held on July 13, 2023, in Yaoundé, the Minister of Commerce Luc Magloire Atangana ordered the suspension of GDC’s plan to increase the price of industrial gas by 20%. In its June and July 2023 invoices to clients, GDC went ahead and applied the 20% price hike, overlooking government orders. It is now threatening to stop supplying industrial companies opposed to the price hike.

In an e-mail sent on August 22, 2023, to the executives of the thirty or so industrial companies it supplies natural gas to in the Douala-Bassa industrial zone, GDC announces the decision will become effective on September 1, 2023. If the companies concerned fail to pay the 20% surcharge on their June and July 2023 invoices, they will have to submit a request for direct negotiation with the gas company. The 20% surcharge demanded by GDC represents the proportion of the tariff increase, since, according to sources close to the matter, industrial companies continue to pay their consumption at the initial tariff in respect of the government’s decision to suspend the price increase unilaterally decided by GDC."

[sparty1] 07/11/2023 11:04

What a mess and it`s been the same for years..

(invest in Cameroon)????? No Chance.

[totally banjo] 06/11/2023 17:21

Globeleq Development

"(GLOBELEQ) - In a statement made public on social networks, dated November 2, 2023, the company ENEO (The energy of Cameroon), concessionaire for the production, distribution and sale of electrical energy in Cameroon, thought it necessary to justify its failure to supply electricity to the entire interconnected-southern network of Cameroon by the intentional shutdown of the Kribi power plants, (Kribi Power Development Company) and DIBAMBA (Dibamba Power Development Company), two entities of the GLOBELEQ Group.

"Since then, faced with the deficit in energy production, ENEO has been operating rotational rationing of the supply of electrical energy, commonly known as "load shedding", in certain cities and localities in the Centre, South, Coast, West, North-West and South-West (constituting the southern interconnected network) which undergo rotations of six hours on average".

Also, in order to inform public opinion, Globeleq confirms that it has suspended production in the Kribi and Dibamba power plants, two major structures in the Cameroonian electricity system, for reasons of arrears of payment of its customer ENEO, which have reached a worrying level, and imposing this precautionary measure.

GLOBELEQ thanks the Government of Cameroon for having taken this concern head-on by initiating immediate payments and organizing emergency solutions likely to significantly reduce the payment arrears accumulated by ENEO towards KPDC and DPDC."

hxxps://www.investiraucameroun.com/energie/0611-19941-mise-au-point-de-la-societe-globeleq

[totally banjo] 06/11/2023 17:18

Electricity: deprived of Globeleq's 304 MW, Eneo forced to intensify load shedding

(Invest in Cameroon) - Since Tuesday, October 31, 2023

"Eneo has launched a new rationing operation for the supply of electrical energy. In accordance with the instructions given by the Ministry of Water and Energy, these load shedding should primarily target companies. But households should not be spared. "When we target industries, riverside homes are also concerned," explains an authorized source within the concessionaire of the public electricity service in Cameroon.

In addition, the depth of the deficit is such that "the erasure of industries should still not be enough". According to our information, this deficit was 165 MW on Tuesday evening and varied between 30 and 145 MW between midnight and 17 p.m. Added to this is the fact that the current cash flow pressures are limiting the capacity of the subsidiary of the British investment fund Actis to supply thermal power plants (back-up plants) with fuel. Power cuts, which have so far been mainly due to the failure of transmission and distribution facilities, are therefore expected to increase in the southern part of the country, where two production facilities have been shut down since 31 October.

Since then, Globeleq, the British company that manages the Dibamba (88 MW) oil power plant in the Littoral region and the Kribi gas plant (216 MW) in the South region, has decided to shut them down. This independent producer of electrical energy, which notified its decision to Eneo the day before, is protesting against the accumulation of unpaid bills with the electricity distribution company, which is waiting for the clearance of the unpaid bills from the State and its subdivisions, in order to be able to pay the slate to its suppliers."

"With a loss of 180 MW of capacity, the rationing envisaged is expected to be much more pronounced. As a result, companies lose production and turnover. Including for the twenty or so companies that use natural gas as a supplementary fuel in Douala's industrial zones. And who, since May 2023, have been engaged, alongside the government, in a tug-of-war with the supplier Gaz du Cameroun (GDC).

Against the advice of its customers, and despite the government's injunction to postpone its project, this subsidiary of the British Victoria Oil and Gas (VOG) intends to increase its prices by 20%. An increase too much, according to its customers, after the 30% increase in electricity tariffs for companies since January 2023, the increase in the prices of petroleum products in the country from February 2023, and the extension to natural gas of the special tax on petroleum products (70 FCFA per m3 consumed) enshrined in the 2023 finance law."

hxxps://www.investiraucameroun.com/energie/0111-19918-electricite-prive-des-304-mw-de-globeleq-eneo-contraint-d-intensifier-les-delestages