Volga Gas Share Discussion Threads

[gizmohican] 29/10/2009 12:50

Thks o1lman

[azalea] 29/10/2009 12:39

An excellent 'outlook'.

[o1lman] 29/10/2009 09:46

VGAS conference presentation here



Outlook for 2H 2009
 Continued growth in oil production
 Oil production averaged 1,600 b/d in July and August 2009 from 3 wells.
 Currently (early September 2009) running at 2,000 b/d from 4 wells.
 Production to average c. 2,000 b/d in 4Q 2009.
 Sales prices rising – gross price of RUB 9,300/tonne in September (RUB 8,400 in August).
 Positive EBITDA and positive operating cash flow
 Unit cash operating margins increasing with rising prices.
 Drilling to focus on Grafovskaya#1
 With recently completed drilling, the current phase of Uzenskaya development is complete.
 Focus on safe operation with minimal disruptions and to deliver a well within budgeted cost.
 V. Uz #10 appraisal well to spud in 4Q 2009
 Capital expenditure controlled
 Capex for 2H 2009 expected at $16 million including $8 million progress payments on
Grafovskaya #1.
 Licence commitments for VM are fulfilled, for Karpenskiy will be fulfilled by end 2009

[azalea] 29/10/2009 09:25

With the potential to make a find oil gas and oil in the near future that will transform the company and its sp, its essential to ignore global market indices, every cloud has its silver lining. VGAS (and a few others with drilling results this year) fall into that category.

[tradermel] 28/10/2009 21:20

At least the share price held up well today, others had much carnage.

[coco] 28/10/2009 21:15

Thanks for the info Stobie - appriciated.

[gizmohican] 28/10/2009 15:34

Aminex PLC's presentation already out from todays conference. Can't find any of the other presentors presentations though!

[o1lman] 28/10/2009 12:35

Remember VGAS is pitching at the Oilbarrel Conference today.

[stobie1] 28/10/2009 10:42

Coco - I am told that as of the date of the RNS they had not hit the higher secondary target, which if they are through the salt does not fit with my understanding of the pre-drill seismic interpretation (which given 3.5km of salt is hardly surprising). I believe that they will reach the secondary target mid-Nov (though again I am not sure why the delay) with TD by year-end. Now that would be a Christmas present.

[coco] 27/10/2009 17:58

Azalea - Casing is run to protect the well bore from formation damage - I would have expected them to set the casing down to 3700 m before entering the target zone to be honest - either the target zone ended up being deeper or a test of the proposed target rock has been taken to establish the possible contents. ?

[azalea] 27/10/2009 17:31

COCO
A seemingly knowledgeable poster on NOP(it too is drilling for two gas targets)reckons that running the casing is related to depth. That said(and I draw NO inference from it in relation to VGAS))the NOP casing coincided with an unexpected gas find. What else could VGAS do but run into the shallower(secondary) target, does not one lead to the other?

[coco] 27/10/2009 17:07

'Volga Gas Plc ("Volga Gas" or the "Company") is pleased to announce that
drilling on the Grafovskaya #1 well, the Company's first deep sub-salt
exploration well in its Karpenskiy Licence Area, is progressing ahead of
drilling schedule. Having started on 28 August 2009 and set initial casing at
650 metres on 10 September, the well has been drilled through the main salt
section and has reached a vertical depth of 3,950 meters after 54 days of
drilling. Intermediate casing is currently being run ahead of drilling on
towards the planned target depth of 5,400 metres.'

After reading the rns - does anyone think they have dipped in to the first target to be sure it was worth running the casing - if so the indicators are looking rather favourable - just a thought.

[swiss tony] 27/10/2009 17:00

What a lovely graph. Almost makes it too easy to pick top-up opportunities....

[coco] 27/10/2009 15:50

Large buys going through - DYOR

[anusol] 27/10/2009 08:00

great day yesterday given the general turmoil elsewhere. 300p looking like an early christmas present. good strong trend developed now.

[coco] 26/10/2009 10:46

bigfella - one more big buy like that last 10k buy and this could POP.
5k 221 - 10k 225 then 233.

At least weve made it down to the strike zone and when redrilling starts we can have a really good sniff about.

[o1lman] 26/10/2009 10:41

azalea, see your point, expect the first target was deeper than the analysis showed so they have added to add that on.

[the big fella] 26/10/2009 10:38

What's l2 looking like at the mo?

[azalea] 26/10/2009 09:44

Of course, but they may have decided to extend the depth they first calculated.

[o1lman] 26/10/2009 09:35

Azalea, they know to the metre the drilling depth by the amount of pipe they have in the hole.

[gizmohican] 26/10/2009 08:00

Fingers crossed...only to right!

[azalea] 26/10/2009 07:47

With their stakes in the company, if they are "very satisfied" ,then so am I. I don't think the drilling depths can be too precise any more than the time to drill them - "progessing ahead of schedule".Fingers crossed!

[coco] 26/10/2009 07:33

Well we are there setting casing before drilling through the prospects - once that casing is set then an announcement could come at anytime, I note the final depth has been extended by 200m any thughts on that anyone.

[martincoops] 26/10/2009 07:10

TIDMVGAS

RNS Number : 3360B
Volga Gas PLC
26 October 2009

?
26 October 2009
VOLGA GAS PLC


Grafovskaya #1 drilling update


Volga Gas Plc ("Volga Gas" or the "Company") is pleased to announce that
drilling on the Grafovskaya #1 well, the Company's first deep sub-salt
exploration well in its Karpenskiy Licence Area, is progressing ahead of
drilling schedule. Having started on 28 August 2009 and set initial casing at
650 metres on 10 September, the well has been drilled through the main salt
section and has reached a vertical depth of 3,950 meters after 54 days of
drilling. Intermediate casing is currently being run ahead of drilling on
towards the planned target depth of 5,400 metres.


The Grafovskaya #1 well is targeting two potential gas/condensate bearing
prospects in the Yuzhny Ershovskoye structure, as explained in the Company's
announcement of 28 August.


Mikhail Ivanov, Chief Executive of Volga Gas commented:


"We are very satisfied with the progress to date of drilling our first sub-salt
exploration well, which is an important well for the Company. We look forward to
providing updates on progress of this well as and when appropriate."