Too many fingers in pie before shareholders get a look. From iii chat -- "depending on which report from VOG you read the royalty figure ranges around somewhat. There is therefore considerable confusion over the extent and nature of Foo's royalty. The last accounts have it that it is '15% of cumulative revenue greater than $30m up to $240m' and then '6% of cumulative revenue above $240m' until the end of Logbaba. The reported figure has trended upwards over most recent years, so don't hold your breath on the 2016 accounts." Also where are the paid customers is the big question - told previous that all scuffs be taken up with gusto so 15 per cent increase worrying.
What does it matter if it's litigation, arbitration or sanitation. The value of VOG is decimated and many pi's are down to the tune of 1,000's if not 10,000's. While fatty fingers at the top keeps dipping his fingers in the Plum pie. Mr Kevin mentioned in his last statement I quote "The settlement of the reserve bonus and termination of the 1.2% royalty was an important matter to resolve and will mean greater revenue for the Company going forward.”
Well the sub committee looking at Kev's pitiful 4.5% straight off the top are dragging their heels are they not? How long does it take to sit Kev down with a bottle of Castel beer and say "right Kev what works for you"
I particularly like this snippet of information as I know this is very close to AJ's heart:
"Elsewhere, Victoria paid professional fees of $400,000 last year (2013: $800,000, 2012: $1.1m) to Blackwatch Petroleum Services Limited, a firm of upstream oil and gas consultants of which Victoria’s chief operating officer, Radwan Hadi, is a director".
Wouldn't want to be out of this over the weekend....
Lot of chat yesterday about no IIs would invest in a co which is the subject of continual litigation. While Banjomick is right to point out that it is arbitration not litigation for the case at hand, can I direct the editors of Troll Daily News to the real news and RBS..
First off - Thanks for the reply! Is a quid 'out-of-reach' - in my opinion NO it is not. If - (as you say) - all of the goals \ targets are met. Unfortunately the record - (over the years) - for Victoria Oil and Gas re' goals and targets being achieved - (and on time) - is dismal i.m.h.o. As far as 300p is concerned ... I cannot ever for the life of me see that un-likelihood occurring!
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