Noted that my earlier - 'who are you?' - post has been reported and removed. I must have touched a nerve with that one? JRich20020 your reply is acknowledged by me but I'm still not convinced. Oh what a very curious bunch of (some) posters we have got on this board. JRich20020 posts that Victoria Oil and Gas will be in the 'doldrums' for more than five years before Matanda is firing-on-all-cylinders, (my interpretation), and the post gets 2 'thumbs up'!
JRich20020 if I see you in 'Stamford's Wine Bar' again - I'll buy you a proper drink - okay? Here's wishing everyone a nice weekend.
JRich20020's posts are not the only posts that stand out for me in the way that they do.
If any London South East member posts anything that is well written of a 'negative' nature - based on proper research - and that can be backed up with hard facts ... ... there is another 'once-in-a-blue-moon' poster that dives in with a lengthy post that looks to me to have been copied and pasted from a 'library' of ready-to-use 'put downs' expressly for the purpose of not just contradicting the other researched poster - (which alone would be fair enough) - but to ridicule that poster and to get maybe a 'bovver boy' on board to post that the poster is a troll. It is all too laughable really! Also noticed is that this poster doesn't allow a proper length of time to allow them to format a reply. The subsequent post from them is on this board quicker than a rat up a drain pipe.
A share that would have once cost you over 300p to buy and that is now reduced down to a shameful less-than-a-penny! Time for change, methinks.Will Ahmet Dik be the man to put the changes into motion? Time for the Gravy Train to reach the Terminus. When will the V O G goose lay its last golden egg and the B o D cease to trouser 'their cut'?
One of the best write-ups that I have ever come across: http://www.thefiringroom.com/oil-gas/who-is-getting-4-5-of-victoria-oil-gas-plc-revenues-straight-off-the-top/ Obviously written by a troll - lol. Excerpt from thefiringroom website: 'In the scheme of things, this is small beer, but I couldn't help noticing that deputy chairman Grant Manheim received a $13,000 cash advance for reimbursable expenses last year. I can just about accept that Mr Manheim might need to spend $13,000 in places where company credit cards aren't accepted, but it’s harder to understand why $12,000 of this advance was still outstanding at the end of the year. This suggests to me that whoever decided on the amount of the advance massively overestimated Mr Manheim’s requirements, and has effectively gifted him an interest free, indefinite loan'
Now cue m**voger to jump on here posting - 'He's retired ... you Muppet!' Is he really? Oh, well - that makes everything okay then ..... doesn't it?
If Ahmet Dik isn't part of it and he'll be saddling up his golden charger to ring in the changes ... then he'll have his work cut out.
Thanks for the thumbs up.We're all getting older unfortunately. We'd all like things to happen faster but it's the nature of business that nothing happens overnight.
Re Matanda. I'm assuming they will move this new development on as fast as possible. Nothing much is going to happen on the ground until the end of the year. The work program and the subsequent interpretation of results will be 18 months from then + submission time to SNH. Then some drilling and if successful, application for exploitation licence. Then build new processing plant. I reckon around 4 years in total at least before gas and condensate sales start, but they could be substantial if the P50 reserves turn out to be real and they go for LNG as a means of getting to the condensate in volume given the much higher yields that have tested so far. 136mbl will generate a significant amount of income over time and those numbers are conservative based on limited surveys conducted to date. It is quite possible that VOG have reserves of between 5 and 10 TCF of gas + a shedload of condensate. Just need to prove it now.
As far as the existing setup is concerned, if they can establish supply certainty and get big power up and running selling 50mscf a day overall (6 themal and CNG, 44 power), which is not impossible over the next 2 years if Dibamba comes on stream + planned expansion, my estimate of VOG's profit after tax and RSM's share is around $60m. It's certainly do-able and Mr Dik has my vote to do it. The SP won't be languishing as it is at the moment if he can pull it off. Add in Matanda and you could be looking at $200m+ net profit after tax and minority interests p.a .in 5 or 6 years time. SP = several pounds.
All imho of course. All possible and Ireckon they have the leadership in Dik to do it.
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