Volga Gas Share Discussion Threads

[russman] 06/1/2021 09:41

Doubt you could outtrade the MM.

[gfrae] 05/1/2021 14:25

Anyone know why these are offered at less than the cash offer ?

[novicetrade68] 18/11/2020 19:05

Poor result for share holders, but perhaps can't rule out an improved offer in my opinion, the acquirer does not even have a position in VGAS - and actually if you look at the company I think it is worth at least 50% more.

[ntv] 16/11/2020 08:35

well, well. What a surprise!!!!!!
I guess the drilling results will be poor and later they will make a massive find
Take a pick on what Russian company will be next? lol

[bad gateway] 16/11/2020 07:28

great 60m of pay and they delay results and steal the co. for 23p.
Not too much more worth saying, no point in filling the thread with expletives.

[bad gateway] 05/11/2020 07:57

Maybe, but they're doing what they said in the first RNS just with none of the usual bells and whistles you get from smallcap oil and gas.Better this way really imo. If the 60m's does come up noncommercial then no ones particularly spiked and if its a gusher then pi's who are in make some cash on the market reaction.

[russman] 05/11/2020 06:01

or maybe the drilling results have not been as good as hoped.
so they keep trying.

[bad gateway] 04/11/2020 12:26

Hoping so. Would have been nicer if they'd been able to add a bit of meat to the bones but yes presume they must have plenty to test as they previously stated 10-20 days for testing depending on the number of intervals.

[ntv] 04/11/2020 11:41

Looks like they may have found something decent as before they mentioned being finished in a month in the previous update
Promising?

[bad gateway] 04/11/2020 07:45

Can't accuse them or ramping the prospect.

"Novo Kurilovskiy prospect update

Further to the announcement of 6 October 2020, testing operations have started at the Novo Kurilovskiy prospect. The formation will be tested by several perforation intervals in order to gather detailed information about the saturation and reservoir properties. The Group anticipates to complete the testing programme by the end of 2020."

[bad gateway] 30/10/2020 14:11

Day 24 and counting...

[russman] 26/10/2020 05:10

Could be a jackpot. Lets hope so.

[bad gateway] 25/10/2020 12:26

Getting closer to finding out if these have a co. changing well. Should be about on the workover rig stage by now.
6 October 2020
Volga Gas plc

More significantly, drilling on the Novo Kurilovskiy prospect reached a depth of approximately1,200 metres. While the initial target interval, the cretaceous Aptian formation at a depth of 900-1,000 metres, had no shows of hydrocarbons, in the deeper Jurassic interval between 1,144 and1,218 metres a total of 60 metres of oil bearing pay was identified with cores taken during drilling. Since the potential pay thickness is in excess of the calculated depth of the structural closure from seismic mapping, this indicates a potential stratigraphic element to the prospect, with implications of significant upside in terms of gross oil in place.

The commercial significance of this discovery will depend on the characteristics of the reservoir which are still unknown.

The immediate plan is to complete drilling down to Permian salt layer, open-hole logging and casing, which could take 10-14 days. On completion of the drilling phase, a workover rig will be moved onto location to proceed with cased hole logging, perforations and testing. This could take additional 10-20 days, depending on the number of intervals selected for testing.

Prior to drilling, management had assessed unrisked potential recoverable oil in the Novo Kurilovskiy prospect at approximately 8 million barrels of prospective resources. The thickness of the pay logged to date and the possibility of a stratigraphic element to the prospect suggests that this could be a significantly larger size. However, commercial viability of the discovery depends on cased hole testing and it will require additional wells and new seismic will be necessary to give a level of confidence to calculate reserves in accordance with SPE standards.

[bad gateway] 13/10/2020 13:16

Bit disappointed with these. Hoped they'd drop off a bit more before the next update. Seem too illiquid and tightly held.

[russman] 10/10/2020 06:15

Its very difficult to raise new capital unless it is a bankable story.
Most oil juniors are going bust.

[novicetrade68] 06/10/2020 15:20

A flow test would be interesting - when feasible - would expect some fire works here when it's a decent number.

[under the radar] 06/10/2020 12:07

BOR breaking out of triangle now and it’s up 19.7%

465mb of light sweet crude
No debt
Own 100% of acreage
BOD have skin in the game
Quick payback time
Under $35 a barrel costs
Could be a oil rim below Darwin
$2.5m enough to last 2 years
Mkt cap £3m
Potential 1mb total sourounding Darwin
Huge prospects on our acreage
Fairway play

Great news today about PMO merger for all Falkland companies.

Well worth tucking a few away imho


ATB and GL whatever you decide

[russman] 06/10/2020 11:40

good news at last.

[gfrae] 06/10/2020 07:29

Yes, as you say bad, and also gives VGAS a good reason for extending it's own deadline for talks from the 30th of September.

[bad gateway] 06/10/2020 06:25

Very nice for timing for Vgas. Could do wonders for the level the bidders are offering.

6 October 2020
Volga Gas plc

EXPLORATION DRILLING UPDATE

POTENTIALLY SIGNIFICANT OIL DISCOVERY

Volga Gas plc, the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to announce a potentially significant discovery of a new oil field in its ongoing exploration drilling programme.

As announced on 14 August 2020 and in the Interim Report released on 30 September 2020, the Group is undertaking a programme of drilling six slim hole exploration wells within its Karpenskiy Licence Area in structures separate from its existing oil reserves in the Uzen field.

As announced in the Interim Report, a well in the North Uzen structure established the presence of oil in a Triassic aged sandstone formation. This will be subject to flow testing after undertaking a fracture stimulation operation which management considers necessary as the oil pay is inferred to be of low permeability.

More significantly, drilling on the Novo Kurilovskiy prospect reached a depth of approximately1,200 metres. While the initial target interval, the cretaceous Aptian formation at a depth of 900-1,000 metres, had no shows of hydrocarbons, in the deeper Jurassic interval between 1,144 and1,218 metres a total of 60 metres of oil bearing pay was identified with cores taken during drilling. Since the potential pay thickness is in excess of the calculated depth of the structural closure from seismic mapping, this indicates a potential stratigraphic element to the prospect, with implications of significant upside in terms of gross oil in place.

The commercial significance of this discovery will depend on the characteristics of the reservoir which are still unknown.

The immediate plan is to complete drilling down to Permian salt layer, open-hole logging and casing, which could take 10-14 days. On completion of the drilling phase, a workover rig will be moved onto location to proceed with cased hole logging, perforations and testing. This could take additional 10-20 days, depending on the number of intervals selected for testing.

Prior to drilling, management had assessed unrisked potential recoverable oil in the Novo Kurilovskiy prospect at approximately 8 million barrels of prospective resources. The thickness of the pay logged to date and the possibility of a stratigraphic element to the prospect suggests that this could be a significantly larger size. However, commercial viability of the discovery depends on cased hole testing and it will require additional wells and new seismic will be necessary to give a level of confidence to calculate reserves in accordance with SPE standards.

Further announcements will be made as results become available. The 2020 exploration drilling programme on the other four exploration targets in Karpenskiy Licence Area continues in addition to the appraisal and evaluation of the prospects already drilled.

Cautionary note regarding resource estimate

The potential indicative management resource estimates described in this release are conceptual in nature and are based on mapping and interpretation of seismic data carried out by the Group's in house geological and technical departments. There has been no independent determination of a resource to SPE standards and the Company cautions that there is a risk further exploration will not result in the delineation of a resource or reserve. The data should therefore not be relied upon until the Company can confirm such estimate to a Standard.

[bad gateway] 03/9/2020 06:44

True it may come to nothing but they seemed fairly positive on the sale process so with production rising happy to see what happens.
Not long to wait either way now.

"The Company is pleased to report that it received a number of non-binding proposals regarding the sale of the Company or its entire business and assets, directly from potential buyers and through Renaissance Capital as financial adviser to the Company. Such potential buyers who wished to participate in the formal sale process were required to sign a non-disclosure agreement, after which they received further information on the Company.

The Board is now engaged in ongoing discussions with certain of these parties about the sale of the Company (or its entire business and assets) and aims to conclude negotiations on or before 30 September 2020."

[russman] 03/9/2020 04:40

or no sale review.

[bad gateway] 02/9/2020 07:09

Better again and a trade this morning too.
Can't be too long before they have to update on the formal sale process.

[russman] 07/8/2020 21:02

better than last month