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Victoria Oil & Gas Share Chat (VOG)



Share Price: 35.75Bid: 35.75Ask: 36.50Change: 0.00 (0.00%)No Movement on Victoria Oil
Spread: 0.75Spread as %: 2.10%Open: 35.75High: 0.00Low: 0.00Yesterday’s Close: 35.75


Share Discussion for Victoria Oil & Gas


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SpaceHoppa
Posts: 1,838
Off Topic
Opinion:No Opinion
Price:35.75
RE: rns
Today 14:05
Mr Banjo, very true & a good point, Vog indicated late August, however it looked like the crew had cracked on well, & the Derek was in position on the 18th. The rig back in 2009 was 6 weeks from landing to spud. Perhaps I was too optimistic as this is a different beast.
 
banjomick
Posts: 601
Off Topic
Opinion:No Opinion
Price:35.75
RE: hmmm
Today 13:43
"longer term benefit" links into "replicate this model in other African locations" quite well!

From an abstract giving VOG's point of view:

"The AFEs that RSM approved on July 7, 2016 specifically called for use of the Forpetro Rig and for Savannah to be the drilling contractor. Id. ¶¶ 26–29

(“We propose to proceed with Savannah based on the suitability of their drilling rig for our project, their competitive rates, and the longer term benefit to GdC from having a locally based drilling contractor.
The combination of these factors gives Savannah a clear lead over the other options.”)."
banjomick
Posts: 601
Off Topic
Opinion:No Opinion
Price:35.75
RE: rns
Today 13:38
I'd expect an RNS on Spudding or an update on progress of setting-up/trsting rig by end of this week.

Space, why would you expect an RNS last week when they stated:

"Drilling operations are expected to begin by end August 2016."
SpaceHoppa
Posts: 1,838
Off Topic
Opinion:No Opinion
Price:35.75
RE: rns
Today 13:34
I thought the same for last week Mr Yoyo
yoyo
Posts: 556
Off Topic
Opinion:No Opinion
Price:35.75
rns
Today 13:19
should be sometime this week??
SpaceHoppa
Posts: 1,838
Off Topic
Opinion:No Opinion
Price:35.75
RE: hmmm
Today 13:00
The idea that Vog have borrowed money to buy a rig
to drill two holes, is fanciful.
Savannah may have bought the rig, that is there business
Vog are not in the drilling services business
I am concerned though, that we have not yet spudded
The rig arrived in Douala in June, was on site on 26th July
If we do not spud soon, have they a problem, or have Rsm got an injunction??
bornagain
Posts: 404
Off Topic
Opinion:Buy
Price:35.75
RE: hmmm
Today 12:37
Very good thoughts, sounds like the truth, not the usual nonsense we get on here
bigsmoke
Posts: 1,447
Question
Opinion:No Opinion
Price:35.75
RE: hmmm
Today 12:26
JRich20020 - sorry to come across all snuffalumpous, are you saying it is likely RSM object to the purchase because they felt renting a rig would have been cheaper as (1) they had a rig to offer, and (2) RSM's interest is in Logbaba and a rented rig would do for that (while a purchased rig would benefit other licences (Matanada) where RSM have no interest)?
JRich20020
Posts: 376
Observation
Opinion:No Opinion
Price:35.75
RE: hmmm
Today 12:11
That would tie in with Roger Tandem's info re new rig:-

https://www.linkedin.com/in/roger-tamdem-77564642

The rig won't be going back. Forpetro are a manufacturer - no suggestion they rent. Every report I've seen says Savannah are providing the rig.
banjomick
Posts: 601
Off Topic
Opinion:No Opinion
Price:0.00
RE: hmmm
Today 11:54
Was busy last week getting ready for festival but after reading those abstracts again it could be read that Savannah Oil Services Cameroon, S.A. (“Savannah”) have purchased the new rig which may tie up with VOG's future direction
IE "It remains our longer term plan to replicate this model in other African locations and we continue to look for the right opportunities."




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