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Share Name Share Symbol Market Type Share ISIN Share Description
Victoria Oil & Gas Plc LSE:VOG London Ordinary Share GB00BRWR3752 ORD 0.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 3.65 594,911 12:49:00
Bid Price Offer Price High Price Low Price Open Price
3.50 3.80 3.75 3.65 3.65
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 9.62 -6.45 -2.57 9
Last Trade Time Trade Type Trade Size Trade Price Currency
14:08:34 O 269,781 3.7067 GBX

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DateSubject
25/9/2021
09:20
Victoria Oil & Gas Daily Update: Victoria Oil & Gas Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker VOG. The last closing price for Victoria Oil & Gas was 3.65p.
Victoria Oil & Gas Plc has a 4 week average price of 3.40p and a 12 week average price of 3.23p.
The 1 year high share price is 8.02p while the 1 year low share price is currently 2p.
There are currently 257,067,218 shares in issue and the average daily traded volume is 317,316 shares. The market capitalisation of Victoria Oil & Gas Plc is £9,382,953.46.
21/9/2021
07:08
rayfenn: How can you average be 3.49p when that price is the ultimate share price low ? Did you have Dianne Abbott as your maths teacher ?
20/9/2021
20:12
spartyl: Arbitration ruling by the ICC has come down strongly in favour of VOG. You heard it here first. VOG simply adhered to the agreement/ participation agreement in place and did nothing wrong. RSM need to pay their share of capex for the 107/108 drill campaign. 37% of it. The overspend on the drill costs are not a valid reason for RSM not paying the overspend figure. RSM are liable for it. Contractual rights / obligations mean RSM have to pay their 37% share of the LA 107 and LA 108 drilling costs. VOG 1 RSM 0 Fill your boots. Wonder if VOG will get all their legal fee's reimbursed ? Also haven't heard about VOG's counter claims. My source couldn't tell me this.
26/8/2021
17:43
rayfenn: Sparty I have told you before I don't sit watching the VOG share price or this forum every minute like a hawk. It is only you that does this and you own no shares. For your information I went fishing today. I got out of the house very early and had a lovely day. Caught a lovely crucian carp. You should try it.
26/8/2021
09:52
speny: Precisely, im not sure what is so good about that. It also points towards vog not being able to generate enough revenue to make a profit anytime in the near future. For this reason no sensible investor would touch this, so the share price will likely languish is the low single digits. Any news on West Med?
26/8/2021
07:15
johncasey: boom! 25 August 2021 To the holders of Ordinary Shares Dear Shareholder, PROPOSED APPROVAL OF WAIVER OF OBLIGATIONS UNDER RULE 9 OF THE TAKEOVER CODE NOTICE OF GENERAL MEETING Introduction On 18 June 2021, the Company announced that it had entered into a definitive financing agreement with MCL (the "Loan Agreement") to raise maximum gross proceeds of US$7.5 million, through the issue of two series of unsecured loan notes (the A Loan Notes and B Loan Notes), which each have a term of two years and attract interest at 10 per cent. per annum accruing daily and compounding monthly (together the "Loan Notes"). The A Loan Notes, which have a principal amount of US$3.3 million and have no conversion rights, were fully drawn down by the Company following its entry into the Loan Agreement. The B Loan Notes have a principal amount of US$4.2 million, which can be drawn down in tranches at the Company's option. Any amounts drawn down under the B Loan Notes and interest thereon will be convertible, wholly or partially, into new ordinary shares of GBP0.005 each in the capital of the Company ("Ordinary Shares"), at MCL's option, from the first anniversary of signing the Loan Agreement and on certain other specified events. The conversion price is GBP0.078 per new Ordinary Share, which represents a 30 per cent. premium to the volume weighted average trading price of the Company's Ordinary Shares as traded on AIM over the 10-day period immediately before the date of entry into the Loan Agreement. The conversion price represents a premium of approximately 120 per cent. to the closing middle market price for the Company's Ordinary Shares at the 24 August 2021 ("Last Practicable Date"). MCL is owned equally by Askar Alshinbayev and Yevgeniy Feld, and is an associate of Askar Alshinbayev and YF Finance (a company controlled by Mr Alshinbayev), all of whom are presumed to be acting in concert as defined in the Takeover Code (collectively, the "Concert Party"). As at the date of this announcement, the Concert Party holds, in aggregate, 60,913,330 Ordinary Shares, representing approximately 23.48 per cent. of the issued share capital of the Company. In the event that the Company draws down the maximum amount under the B Loan Notes at the earliest expected opportunity under the Loan Agreement (assumed to be 13 September 2021) and conversion occurs on the date falling two years after the Loan Agreement was entered into, being 16 June 2023 (the "Latest Conversion Date") for the full principal amount and all accrued interest, the Concert Party would have a resultant holding of 107,728,578 Ordinary Shares, representing approximately 35.18 per cent. of the then issued Ordinary Shares (assuming a prevailing GBP:USD exchange rate of 1.37 and that no other new Ordinary Shares are issued by the Company in the interim). The number of Ordinary Shares ultimately issued to the Concert Party on conversion of the B Loan Notes will vary in line with the GBP:USD exchange rate. For illustrative purposes, assuming that there was a 10 per cent. decrease in the assumed GBP:USD exchange rate at the Latest Conversion Date (such that the exchange rate was 1.233), the Concert Party would have a resultant holding of 112,930,273 Ordinary Shares, representing approximately 36.26 per cent. of the then issued Ordinary Shares following conversion, assuming no other new Ordinary Shares are issued by the Company in the interim. Should the conversion of the B Loan Notes occur at the date falling one year after the Loan Agreement was entered into being 16 June 2022 (assuming the Company does not serve an early repayment notice in the period leading up to 16 June 2022, whereby MCL could elect to convert rather than receive cash repayment) (the "Earliest Conversion Date") for the full principal amount and all accrued interest, the Concert Party would have a resultant holding of 103,291,075 Ordinary Shares, representing 34.23 per cent. of the then issued Ordinary Shares (assuming a GBP:USD exchange rate of 1.37 and that no other new Ordinary Shares are issued by the Company in the interim). Accordingly, under most reasonable scenarios, assuming full draw down and conversion of B Loan Notes and that no other Ordinary Shares are issued prior to conversion, the Concert Party's maximum holding is likely to be between 30 per cent. and 50 per cent. of the issued share capital in issue following conversion of the B Loan Notes. Accordingly, the Company's ability to draw down the facility under the B Loan Notes is conditional on Independent Shareholders passing the Whitewash Resolution approving a waiver of the obligation for the Concert Party to make a general offer pursuant to Rule 9 of the Takeover Code that would otherwise arise in the event that the Concert Party were to convert the B Loan Notes.
04/8/2021
09:20
speny: It's a poor update when nobody can be bothered to even comment on it. Seems the same old vog, very little progress as usual, west med interest all but evaporated. Could the RSM arbitration be the final nail in the vog coffin? On the flip side, if the ruling is in vog's favour, could that start a positive turn of events? I mean for investors who actually undertake a reasonable amount of research, at present vog must shout avoid at all costs.
30/6/2021
16:41
rayfenn: MALCY COMMENT Victoria Oil & Gas VOG has announced that due to the impact of the COVID-19 outbreak on staff availability and interaction time with our auditors, the Company will be unable to post its annual audited accounts to shareholders for the year to 31 December 2020 by the 30 June 2021 deadline pursuant to AIM Rule 19. Further to the guidance provided by AIM Regulation in “Inside AIM” on 27 January 2021, the Company requested an additional period of up to three months to publish its Annual Report. AIM Regulation has granted the extension, and therefore the Company will publish its Annual Report by 30 September 2021. However, VOG expects to publish the Annual Report well ahead of that date. The Company has also applied for and been granted an extension to delay the filing of its audited annual accounts by Companies House until 30 September 2021. VOG has also posted a trading update saying that its Gaz du Cameroun operation in Douala, Cameroon has continued to deliver natural gas to 30 or so industrial customers, supplying safely and continuously throughout 2020 and the year to date. Unaudited attributable revenue for calendar year 2020 was $13.2 million (2019: $20.8 million). The overall reduction in revenue year-on-year is due to the reversal of any revenue invoiced to ENEO in 2020. The attributable revenue in 2019 included $8.0 million related to grid power provided to ENEO. Thermal and industrial power revenue was $13.0 million in 2020 compared to $12.0 million in 2019, a 8% increase year-on-year and a healthy increase considering the backdrop of Covid-19 and its effects on business. Unaudited revenue to 31 May 2021 was $6.2 million (2020 for the same period: $5.4 million). Unaudited cash and cash equivalents at 31 December 2020 was $1.8 million (31 December 2019: $7.2 million). Cash as at 1 June 2021 was $2.5 million (1 June 2020: $5.0 million). Unaudited net debt as at 31 December 2020 was $12.8 million (31 December 2019: $10.7 million). The Company continues to manage its creditors and cash flow as appropriate. As announced on 18 June 2021, VOG has arranged additional finance through a loan note instrument with Meridian Capital (HK) Limited, part of which is conditional on a Rule 9 waiver being granted by The Takeover Panel and approval by independent shareholders on a poll in due course. The management at VOG are flat to the boards working on the various processes including the results and annual report. Operationally I am convinced that they are delivering hence the recent support by Meridian.
18/6/2021
08:46
appychappy: Malcy: Victoria Oil & Gas Victoria Oil & Gas has announced that it has entered into a definitive financing agreement with Meridian Capital (HK) Limited (“MeridianR21;) (“Facility Agreement”) to raise maximum gross proceeds of US$7.5 million through the issue of unsecured loan notes (the “Facility̶1;). The proceeds of the Facility will be utilised for general working capital purposes, including long lead Items for the proposed well on the Matanda licence. I am reproducing the details in full so that investors can make appropriate calls, after I have spoken to the VOG management I will add further comment. The Facility is comprised of two series of loan notes – A Loan Notes and B Loan Notes (together the “Loan Notes”). The key terms of the Loan Notes are set out below: A Loan Notes: unsecured loan notes with no conversion rights total principal amount of US$3.3 million, fully drawn on signing of the Facility Agreement two-year term with early redemption permitted at no additional cost interest at 10% per annum accruing daily from the date of issue and compounding monthly B Loan Notes: unsecured convertible loan notes total principal amount of US$4.2 million, which can be drawn down in tranches at the Company’s option term expires on the second anniversary of the date of the Facility Agreement with early redemption permitted at any time at no additional cost, with Meridian having the ability to convert the outanding B Loan Notes interest at 10% per annum accruing daily from the date of issue and compounding monthly principal and interest convertible wholly or partially into VOG shares at the Noteholder’s option from the first anniversary of signing the Facility Agreement and on certain other specified events conversion price of £0.078 per share (being a 30% premium to the volume weighted average trading price of VOG’s shares as traded on AIM over the 10-day period immediately before the date of entry into the Facility Agreement) draw down conditional on The Takeover Panel (“Panel”) agreeing to a waiver of Rule 9 of the Takeover Code (“Code”) and independent shareholder approval being obtained (see below). Meridian (owned equally by Askar Alshinbayev and Yevgeniy Feld) is an associate of Askar Alshinbayev and YF Finance Limited (a company controlled by Mr Alshinbayev) and they are all deemed to be acting in concert as defined in the Code (collectively, the “Concert Party”). The Concert Party holds 60,913,330 ordinary shares of £0.005 in the Company’s share capital (“Ordinary Shares”), representing 23.7 per cent. of the issued share capital of the Company. In the event that the Company issues the maximum amount of B Loan Notes to Meridian at the likeliest earliest opportunity under the Facility Agreement and conversion occurs at the latest date under the Facility for the full principal amount and all accrued interest, the Concert Party would have a resultant holding of 106,848,390, representing 35.3 per cent. of the then issued shares (assuming the current £/$ exchange rate), assuming no other shares are issued. The Company will apply to the Panel for a waiver from the obligation for the Concert Party to make a general offer that would otherwise arise as a result of the issue of the Ordinary Shares in the event that the Concert Party were to convert the B Loan Notes in full, subject to the approval, on a poll, of independent shareholders (the “Whitewash Resolution”). Accordingly, with the consent of the Panel, the Whitewash Resolution will be proposed at the General Meeting and will be taken on a poll at the General Meeting, notice of which will be set out in the Circular to be distributed to Shareholders shortly. Given Askar Alshinbayev’s and YF Finance Limited’s current interest is more than 10 per cent. of the issued ordinary share capital of the Company, and they are therefore a substantial shareholder, the entry into the Facility Agreement is deemed to be a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies (“AIM Rules”). For the purposes of the AIM Rules, the Directors of the Company, having consulted with the Company’s Nominated Adviser, Strand Hanson Limited, consider that the terms of the transaction are fair and reasonable so far as its shareholders are concerned. Roy Kelly, Chief Executive Officer, commented: “We are delighted and appreciative that our major shareholder is backing our efforts to resolve legacy issues and increase our working capital. The use of such funds includes helping us progress our very prospective Matanda licence in which we have a 75% interest prior to state back-in.” A flash blog as I am away from my desk, and finally really only about England v Scotland at Wembley tonight and Royal Ascot in the rain…
24/5/2021
13:47
rayfenn: Gas supply from the Etinde field is very important to VOG. VOG to then sell gas on to AKSA power plant. Currently gas supplied from the Logbaba concession and sold to customers has a revenue split of 57% VOG / 5% SNH and 38% to the shysters at RSM. Matanda gas (if found) is currently 75% VOG and 25%W AFX If VOG can get gas from Etinde then 100% of the revenue for AKSA gas sales goes to VOG. Remember the gas from Etinde is a by product of their condensate production. I would guess that VOG might pay a token $1-2 per mmbtu for it. VOG have agreed a price of $6.75 from AKSA. Lets assume VOG get a net $5 per mmbtu. Min take or pay is 70% of 25 mmscf/d = 17.5 mmscf/d. 17.5 x 5 = $87,500 a day or $32 million a year. Based on a GSA being signed with AKSA then debt finance would be forthcoming to pay for the 60km pipeline from Limbe into Bekoko power plant. As this is all motorway then pipeline laying should be pretty easy along the route. No urban districts to go through. Just can't work out if the Etinde partners would process the gas in a suitable processing plant or if VOG would need to pay and build such a plant.
22/4/2021
13:32
appychappy: Posted for HappySparrow, hope they don't mind....RE: AltaaqaToday 09:09interesting post from Rayfenn on advfn:' "We offered to develop, in less than a month in Douala, a 300 MW electricity generation project, which will immediately start producing electricity at less than XAF40 per kilowatt," said Zeynep Harezi, Karpowership's commercial director. All well and good but electricity generated by AKSA's new power plant works out at XAF28 per kilowatt based on paying VOG $6.75 per bbtu of gas. In other words elecy from the ship is much more expensive than from using VOG gas....'.From RNS 20/01/16: GDC price for gas to customers ranged from $9 to $16 per mmbtu, a weighted average price of more than $60/BOE.From RNS 26/06/17: Eneo contract extended to 31/12/17, and interim gas price of $7.5 mmbtu has been agreed. (They take more than 50% of our gas)From RNS 22/10/18 : average gas price to customers now about $13 per mmbtu.From RNS 24/12/18: Eneo contract renewed at gas price of $6.75-6.95 mmbtu.From the above, the point I wish to make is that if Karpowership produces at XAF40 per kilowatt, and AKSA at XAF28 per kilowatt (giving us $6.75 per mmbbtu), then there is considerable scope (a competitive price gap) to increase the price paid by Eneo for short-term supply through Altaaqa gensets at Logbaba power plant. Karpowership and Altaaqa gensets are the two current alternatives for an immediate increase in supply; whereas AKSA power plant (reliant on Etinde FID and pipeline build) is probably one year or more away. So, if Eneo needs supply asap, which their recent re-financing, their quick settlement with VOG, the recent powercuts, and the trouble with hydropower projects, all suggest, then I would not be surprised to see VOG negotiating $9+ per mmbtu for a one to two year contract. Ray - any thoughts on this? (perhaps post your reply and calculations, on the other side, please).
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