Volga Gas Share Discussion Threads

[anusol] 29/3/2011 08:11

This is the para I liked:


During 2011, the strategic priority of the Group will be to make significant progress towards full commercial operation of the VM field. The Board is also evaluating opportunities to extend the Group's activities into new areas, where we have identified the potential to add significant value and incremental production volumes.

[tradermel] 29/3/2011 07:59

Good solid, but expected performance. The difference will be 2011 and the VM field coming online. This will alter 2011's bottom line significantly as the BOPD from exiting fields will not drop much if at all.

[eric76] 29/3/2011 07:39

Only had a quick glance so far but agreed. VM seems key but no debt and rising prices sounds pretty good so far.

[anusol] 29/3/2011 07:17

Good report IMHO. Reiterates the known disappointment from exploration drills, but then goes on to make steady production of 1300 barrels a day with no adverse weather impact. More interesting though is the focus on getting production ramped up at VM. This could make a significant change in financials. Plus a small mention of new tax rates for small oil producers.
What do others think?

[tradermel] 28/3/2011 18:21

Results this week, should be interesting.

[eric76] 22/3/2011 17:56

Agreed, certainly safer than Africa, most of Asia or the ME appear to be.
Good to see these starting to creep upwards again may have a few more in the morning if the markets look ok.

[utterberk] 18/3/2011 12:47

Russia looking quite a safe place to do business lately, relatively speaking.

[eric76] 09/3/2011 08:28

NAI but maybe worth a watch again here as the stocks close to breakout, has few shares available and has picked up 2 50k buys early this a.m.

[the big fella] 04/3/2011 08:07

If that 67k on the order book decides he wants to pay a bit more he could take out everything on offer

[tadtech] 04/3/2011 07:53

Market cap £85m

2p reserves 68m barrels

Production 1500 bopd

Cash $25m

Further cash or infrastructure to value of $20m awarded in court win

Reserves valued at only $1.20 barrel v the norm $3 to $4

Drilling programme ahead, at least 2 wells in H1

[eric76] 04/3/2011 07:44

T'is a nice chart and a fair recovery play with the court case out of the way.Will be interesting to see what newsflow comes out of them for ops on the field after this too imo.

[tadtech] 04/3/2011 07:38

I think after the Court win it is possible for the chart to complete the up move implied. Historically VGAS shares move very quickly.

Significantly the shares closed above the recent high.

[rodrod1] 04/3/2011 07:14

For anyone interested in the charts, fingers has updated his views of VGAS and has commented on my cup & handle formation suggestion:

fingers xxd - 3 Mar'11 - 23:26 - 14552 of 14562

[anusol] 03/3/2011 11:50

todays price chart is begining to remind me of my youthful days messing around with an etch-a-sketch......

[cupra kid] 03/3/2011 11:36

Slight resistance at 128p. 150p on the cards, 200p to possibly complete the cup formation. Let the buyer continue his buying!

[tradermel] 03/3/2011 11:36

pressure building towards results

[corrientes] 03/3/2011 11:36

They try all the tricks in the book to make you think otherwise.

[pilky3] 03/3/2011 11:29

Loving this re rating.

[tadtech] 03/3/2011 07:45

Volga Gas in court win

UK-listed Volga Gas

has won the third round of a legal dispute with Trans Nafta subsidiary Gazneftedobycha to recover a payment of 640 million roubles ($22 million) related to development of a Russian gas field.

Upstream staff 01 March 2011 11:18 GMT

Volga said a Moscow court has upheld an earlier decision by the Moscow Arbitration Court ordering Gazneftedobycha to pay the sum to Volga Gas.

Volga subsidiary Gaznefteservice originally paid 600 million roubles to Gazneftedobycha as a prepayment for the acquisition of a 75% interest in a gas processing unit to process gas and condensate from the former's Vostochny Makarovskoye field.

Gaznefteservice launched the legal action against Gazneftedobycha in May 2010 to recover the sum, plus interest accrued since November 2008.

"I am pleased to be able to update our shareholders with this positive result. Based on the facts presented to the court, we have won the third stage of the legal dispute and the court's decision is immediately enforceable.

Volga chief executive Mikhail Ivanov said the latest court ruling, which is immediately enforceable, represents a victory for the company in the third stage of its legal dispute.

"We are currently working towards final resolution of the legal, financial and commercial differences between Trans Nafta and Volga Gas to enable the Vostochny Makarovskoye gas condensate field to commence

[anusol] 02/3/2011 17:01

wow - nice close !

[tadtech] 02/3/2011 16:11

I think the penny is starting to drop that VGAS is undervalued to peers and have some catching up to do with events.

The positive RNS yesterday was a catalyst. A steady climb can be expected possibly back to £1.50p short term.

It seemed the recent 'drop' allowed a few large buyers in.

[eric76] 02/3/2011 14:27

Yes it would seem but these were well over 120p before the ME kicked off and looking to keep going then. Quietly hoping they'll continue on to close the gap at the 150p level before too long and there doesn't seem a lot of resistance beforehand imo.

[anusol] 02/3/2011 13:47

Nice price trend today - delayed action on yesterdays positive RNS

[eric76] 01/3/2011 15:20

Maximum I'm getting offered online through barclays is 3k shares. This mornings good news must be starting to bite. Be great to get an update on ops too though it does seem momentums getting stronger without it.

[tadtech] 01/3/2011 14:15

On-line limits are strong, they want your shares. This was the case just before the rise from 92p to £1.26.

I expect to see another RNS on operations shortly.