Volga Gas Share Discussion Threads

[flirker] 12/10/2011 23:08

Haha good job volga got a vostok box. bit of a gut ache but were up again.

[flirker] 12/10/2011 22:01

Oil barrel article sums it up nicely "volga gas enjoying rising oil and gas production from prime russian assets" @Macrus, yes nice to have a few more institutions on board but not surprising considering the 'legal tussle' and delays which saw them all off over the last couple of years. But that was then and this is now and now were moving in the right direction. So you could say I believe they will be back and holding a company that you think will attract institutions is positive and especially if its one like VGAS with so few shares out there. I didn't attend the conference so why so underwhelming? must of attracted you a little if you checking out the BB's?

[tradermel] 12/10/2011 21:55

Then add the anticipated cash flow for next year from the VM field (apologies for banging on about this prospect) plus a couple new wells, what share price then?

[djalan] 12/10/2011 21:51

Good calcs there Shiny add in a 40% discount for Russian unknowns to give a fair value circa £1.66

[shiny1000] 12/10/2011 20:45

Put the production/revenue and profits on a p/e of 10 (not undemanding for this type of growth and potential for increases) and you are talking £200 million Market cap Inc net cash.

2,500 bopd x 300 days x £25 per barrel profit = £18,750,000 per year x 10 = £187,500,000. plus net cash = £195 million = 4 x this Market cap and share price = 276p target!!!

[makday] 12/10/2011 16:26

Bally these were £3.00 not so long ago so I see £1.50 in the short term...good spot our kid!!!!! Someone is buying big .....Mmmmm wonder who????

[the ballcock] 12/10/2011 16:17

SLE worth a peep at boys

[christianf12] 12/10/2011 16:03

SOMEONE IS BUYING IN 11K BLOCKS, CHECK THE AUTO BUYS!!!!!

[the ballcock] 12/10/2011 15:53

whens the short term mate? don't be greedy, 90p book the profits

long term it's 200 pennies

[makday] 12/10/2011 15:50

So Bally mate where do you see this one going? £1.50 in the short term???

[the ballcock] 12/10/2011 13:35

inching up

[christianf12] 12/10/2011 12:39

EXI up 8%, VGAS turn next.

[the ballcock] 12/10/2011 12:07

we're looking at 100 pennies soon, but u r getting too carried away CF12

[christianf12] 12/10/2011 11:54

HERE SHE GOES : )

[christianf12] 12/10/2011 11:20

VGAS usually like to bounce in the afternoon, FTSE has gone from red to blue and looks strong, VGAS turn next : )

[macrus] 12/10/2011 11:19

@Flirker - don't hold your breath. Weakness on back of underwhelming presentation to Terrapin conference. V. few institutional followers these days. VGAS high correlation to delta in margin calls/fear factor to retail investors

[tradermel] 12/10/2011 09:20

Nicked this from iii .... SpikeyDT




Things have been fairly quiet from independent Volga Gas recently, but then in Russia, where the company is exclusively focused, maybe that's not such a bad thing.And the company's share price is just about as low as it has been all year, which might - depending on what stance you take - indicate good value.

Things have been fairly quiet from independent Volga Gas recently, but then in Russia, where the company is exclusively focused, maybe that's not such a bad thing.And the company's share price is just about as low as it has been all year, which might - depending on what stance you take - indicate good value.
The AIM-quoted group holds an interest in five licenses in Russia's Volga region, through various wholly-owned subsidiary companies.We last looked in detail at the Volga story back at the start of September. At that time, Russian officials had just backed the company on a legal tussle, allowing it to resume work on the stalled Vostochny Makarovskoye (VM) project.

Volga's title to the field had been challenged by a shareholder of Trans Nafta, the company that sold Volga the field prior to its 2007 initial public offering.It was a distraction at a time when investors were keenly awaiting news of testing from the company's first sub-salt well in European Russia.Oilbarrel.com regulars may recall that Volga had hoped to bring this gas-condensate field, which has C1/C2 reserves of 54 million barrels of oil equivalent (boe), onstream in late 2008.

That, of course, did not happen, but such delays, like full-scale legal challenges, are far from uncommon in this hydrocarbon-rich corner of the world.Soon after this news came out Volga released its half-yearly results for the six-month period ending June 30, 2011.Included in the interims were reasons why Volga has cultivated plenty of positive interest, with group-wide production averaging 2,092 barrels of oil equivalent per day (boepd) during the six months, more than double the same period a year earlier (920 boepd).

For the remainder of 2011, production is expected to average above 2,600 boepd, another very healthy lift. The expanded production meant better financial figures too with net profit reaching US$3 million, reversing a US$0.2 million net loss a year earlier, and revenues shooting up to US$14 million, against US$5.2 million in the first half of 2010.

The message at the time from chief executive Mikhail Ivanov was upbeat after the company reported what he called a "material profit".During the period Volga maintained continued steady production from the Uzen oil field, and notched up significant first revenues from the Dobrinskoye gas and condensate field.

This, Ivanov said, had performed in excess of expectations since its acquisition.The key development for Volga during the first half of 2011 was the acquisition of Gazneftedobycha from Trans Nafta, landing the group 100 per cent ownership of the producing Dobrinskoye gas/condensate field and related processing and transport infrastructure.

The company does carry a bit of debt - US$6 million is owed by one of its subsidiaries, Gazneftedobycha, to Trans Nafta - but there is cash in the bank too, generated by production activities, though this has dropped during the past year. This cash stood at US$13.9 million as at June 30, 2011, roughly half that recorded a year earlier.

Overall, the production rise and the financials told a pretty encouraging story.But since mid September there has not been much in the way of detailed news although work is still ongoing with the completion of the VM field development.Presenting the mid-September interims Ivanov also flagged the drilling of two new exploration prospects, which could "add new production streams within a short timeframe". He also alluded to possible further acquisit By SpikeyDT

[christianf12] 12/10/2011 08:58

Yeah but watch how quickly it rises when a few buys appear : )

[eric76] 12/10/2011 08:57

They like to start these down? Must be glasshalf empty mm's.

[christianf12] 12/10/2011 08:04

Nice early shake from the mm's. They must be desperate for shares as there have been no sells lol

[the ballcock] 11/10/2011 21:45

well i tipped it yesterday for the boys over in AFR, rang me broker and he says its totally undervalued.