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Perhaps I've underestimated the value of this asset?
In my mind I had more or less written it off.
Let's see what Roy can do - a big big plus if he can transact a sale, imho.
According to the documents published by the WikiLeaks magazine, the Nadym gas pipeline unit is named the most critical gas facility in the world.[11].
The total proven reserves of the Medvezhye gas field are around 83 trillion cubic feet (2370 km³), and production is slated to be around 4.89 Billion cubic feet/day (140×105m³) in 2013.[1]
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This was followed by several giant and large dry gas fields in the Aptian-Cenomanian Pokur Formation, including the Medvezhye Field and Urengoy Field, which commenced production in 1972 and 1978 respectively.
The thick continental Aptian– Cenomanian Pokur Formation above the Neocomian sequence contains giant gas reserves in the northern part of the basin.
Three total petroleum systems are identified in the West Siberian basin. Volumes of discovered hydrocarbons in these systems are 144 billion barrels of oil and more than 1,300 trillion cubic feet of gas
https://en.wikipedia.org/wiki/West_Siberian_petroleum_basin#/media/File:West_Siberia_structural_map.png
https://en.wikipedia.org/wiki/Medvezhye_gas_field#/media/File:West_Siberia_oil_and_gas_fields.png
VOG holds 100% of the West Medvezhye oil and gas exploration project near Nadym, Russia. The field has C1 plus C2 reserves of 14.4mmboe (under the Russian resource classification system, analogous to proven and probable reserves under Western conventions) in addition to best estimate prospective resources of 1.4bboe.
http://www.gazprominfo.com/terms/medvezhye-field/
2006: https://www.rigzone.com/news/oil_gas/a/28866/reserves_increased_at_west_medvezhye_gas_field_after_feasibility_study/
https://www.gulfoilandgas.com/webpro1/main/mainnews.asp?id=4729
https://www.eurasiareview.com/02022018-russia-energy-profile-economic-growth-driven-by-energy-exports-analysis/
I take it you are not aware that Westmed is completely locked on and at the mercy of Gazprom and various oligarchs who will seek a heavy price for access to their infrastructure.
Good god talking about west med again,we all know that it would could more to develope than whats it's worth with roads pipeline etc etc.
Why would anyone buy west med when they can buy all of vog for what about £8m-£10m and then they would also get another pipeline for free, although I don't know who would want to hold another pipeline they could sell off. More pipe dreams by the new team looking to get support for another placing and using west med as a hook to draw them in.
Re "3CB's mention of £50m, for an £8m market Cap company is a dream (and perhaps where it will stay?). I'd be very happy for a tenth of that."
Sparrow - you need to take a leaf out of your mate's book and do some research.
A little over 3 years ago VOG's m/cap was well over £80m. If you read my earlier post you would have seen mention of a 95% loss which roughly fits in with that m/cap.
You are right though that Westmed had no value because a few years ago the directors gave it a 100% writedown causing a huge loss that year. Prior to this they had been bandying about stupid figures of what they were going to sell Westmed at until they realised shareholders weren't falling for the bullsshhitt anymore.
I was in Moscow in Summer 1977 - It was snowing. Hard to believe it is 40 degrees C. in Siberia at the moment.
https://www.themoscowtimes.com/2020/07/27/well-preserved-mammoth-discovered-in-russian-arctic-as-permafrost-thaws-a70993
Still, perhaps that will make drilling easier there?
Our team has evaluated and managed many oil and gas assets of KazMunaiGas, West Siberian Resources, Rosneft, RussNeft, TNK-BP etc. The evaluation led to execution on number of acquisitions and divestures in various counties. The key members of the team participated in number of oil and gas discoveries in Russia, including the recently discovered huge oil field Velikoye in Astrakhan region. Among other discoveries are oil and gas fields in Eastern Siberia and Timan-Pechora province of Russia etc.
Projects geography covers FSU (Russia, Kazakhstan, Georgia, Ukraine etc.), Middle East (Iraq, Syria, Jordan), Africa (Nigeria, Ghana, Egypt, Algeria etc.), both Americas, the North Sea etc.
Useful info, RF68. In my mind I'd written the assets off.
3CB's mention of £50m, for an £8m market Cap company is a dream (and perhaps where it will stay?). I'd be very happy for a tenth of that.
This was the RNS of 27th July: The Company is pleased to announce that a third party Technical Report has been completed by Well Energy Group (Russia) on the Company's 100% owned Western Medvezhye Licence in YaNAO, Russia. Based on this Technical Report, the Company has commenced a formal process to divest the Western Medvezhye Field and is in discussions with buyers of the field. Whilst a prospective buyer is conducting due diligence, the Company expects an extended sales process due to the COVID-19 crisis and the volatility of crude prices. '
In discussion with 'buyers' (plural) and ' a prospective buyer is conducting due diligence'.
The area produces 22% of World gas output. Clearly a lot of infrastructure here, and strong knowledge base, with many operators here.
https://globalvoices.org/2013/01/23/russias-siberian-state-within-a-state/
RF : I'd be very interested to get some idea of the range of value or rough 'ball park' figure that you've heard might be discussed - or a good comparative to look at.
Rf68 twisting my words as usual. You forgot the word YET.
It could become a recovery stock in the future, but so far, the only thing that has changed is the senior management. You certainly wouldn't have called it a recovery stock prior to Roy taking over and I don't see anything since that justifies that title.
Meanwhile, f you really eed to know why I still hold the stock, I will merely repeat what I've said before, namely that being 95% down, I have nothing to lose by holding, on the off chance of a reasonable spike.
Bit like you really. Only difference is I'm not wearing rose tinted spectacles.
Sparrow that is a ridiculous comment to make. The definition of a recovery stock is one that has fallen in value but has the ability to recover. The first bit applies but vog is nowhere near the second bit yet, unless it's a recovery stock just because you say it is
Jed you need to forget the past and move on or you will be a very sad and bitter person. This share has legs. What you need to do is sell up, offset your losses for CGT, then buy masses of shares at sub 4p. Within 6 months they'll be at least 7p, possibly even 13p and you'll make shedloads of dosh. And you won't worry about the previous losses cos you've moved on. Love from your counsellor RF68
Understandable that this company has been a disaster.
But it is now under new management.
Very simply, its called a recovery play.
Why is it so hard to get this concept across to the negative posters here?
Why not just wait and see how things progress in the next 6 months?
(I'm not expecting any rational response to this post - I have given up on that long ago.)
When you look back some 8-10 years there was thousands of pi's that invested in vog because they / we all saw a great business and future in what vog was doing, alass everyone of these pi's has lost money and many thousands of pounds in vog.
In those 8-10 years alone the way a number of times great new fisions came out from the bod's that kept many still invested hoping that some day things might change, alass almost every new fision fell flat or died on it's feet because of some un foreseen problem but still the bod's kept raising more money.
Is it because all / many of the pi's that invested in vog are coming on here just for the fun of things I guess not it's more because they are trying to help and new investors to just keep a clear head and not believe everything that comes out. I must say you are just like me and I guess many others that know at some time things will change for the better, but just bear in mind that might just not happen. I wish you well and hope you make some money from vog it's about time someone did.
You keep going on about small money lost in DEbs and TC but that's nothing to whats already lost in vog and water under the bridge so stop the worries. I would be more worried about the placing / issue to raise more money at 2p than my losses.
After what about 8-10 years vog need at least 3 miracles,
After what about 8-10 years vog need at lwast 3 miracles,
1) customers
2) cash payments from outstanding sales.
3) Stay afloat.
Come on let's be honest now how many other companies have spend about £250m on assets and end up with a company with MC of about £8m, outstanding cash debts, not enough customers , not making a profit and still in need of more cash.
VOG must be one of the worst run companies still listed and looking for more investors.
At least they hold a record for something.
the stock continues to prove it cannot grant a profit.
3p is as good a punt as any.
must be aching about now
you get called a troll for being positive now? make up your mind, newbies.
not me.
another 100,000 today