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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Victoria Oil & Gas Share Chat (VOG)



Share Price: 56.75Bid: 56.75Ask: 57.25Change: 0.00 (0.00%)No Movement on Victoria Oil
Spread: 0.50Spread as %: 0.88%Open: 56.75High: 58.00Low: 56.50Yesterday’s Close: 56.75


Share Discussion for Victoria Oil & Gas


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banjomick
Posts: 1,779
Off Topic
Opinion:No Opinion
Price:56.75
RE: Eneo deal
Sun 23:23
HeidHoncho, I'm no expert and your reasoning sounds good to me, cheers.
 
HeidHoncho
Posts: 1,784
Off Topic
Opinion:No Opinion
Price:56.75
RE: Eneo deal
Sun 22:23
mick, why do you appear to be fixated about the 3 cellars, and why do you believe this means that VOG have been planning on drilling it in direct continuation of 107 & 108 from the outset ?

The rig is a rail/train style rig, and as such surely the reason for the third cellar was in case they required to respud a well had they encountered issues with either 107 or 108 in either of their top hole sections.

In the lower sections if you had problems you could conduct a sidetrack, but if it happened in the top hole sections you would have greater problems recovering from an issue, and it would likely be more economical to respud.

If that were to be the case, and given the rig is rail mounted, if you did not have an additional cellar in before the rig was mounted on the rails, you most likely couldn't latterly build a third cellar for respud ding, as you would require to dismantle the rig to do so.

Therefore, I would find it a more credible reason that the third cellar was installed prior to the rig arriving to make allowances for a respud to be attempted, rather than your theory that management had planned on drilling 109 prior to the campaign beginning.

It would have been foolhardy to start the campaign without making allowances for such a contingency, IMHO.
banjomick
Posts: 1,779
Off Topic
Opinion:No Opinion
Price:56.75
RE: My advice
Sun 21:43
Rather than trying to guess what's next why don't you read and look at the pictures from the announcement last month:

http://www.victoriaoilandgas.com/sites/default/files/171025%20Placing%20RNS%20final%20clean.pdf
naks
Posts: 3,175
Off Topic
Opinion:No Opinion
Price:56.75
ENEO
Sun 21:42
Eneo currently average about 6m scuffs per day they might take 12 m scuffs average if we are lucky, we have107 54m scuffs and 108 even more Si behave yourselves we have enough to get a deal done but as we are extended to end of December Vog will take us beyond that because that’s what they do.
Victoryv
Posts: 393
Off Topic
Opinion:No Opinion
Price:56.75
My advice
Sun 21:32
Wait on eneo deal ,if good share price should hit early 80's you may have to wait on 109 , Vog must know what eneo want to get that deal which is why 109 is being drilled I'm sure the board have shared this information with the ii (C ocean ) I believe which triggered the fund raise when Vog realised 107 and 108 were not going to be enough , so what's the next move after eneo ? Borneo and matanda Vog will have to get a good enough deal from eneo to make a big enough profit for the banks to lend or guess what folks foo will be back to the market !!!
Victoryv
Posts: 393
Off Topic
Opinion:No Opinion
Price:56.75
Bigsmoke
Sun 21:21
You are correct if 108 flow results are bad the share price will drop ,if they are good the price will remain the same . The eneo deal may not come till 109 is drilled as I posted reason before,if so expect Vog stalling news on it and as the board can't help mentioning freeing up reserves, They now know they can't get the industrial customers that we need ,eneo can see this we can only hope that by Vog bringing in the Cameroon gov that it will give them favourable terms as really eneo have Vog by the balls and could offer whatever they want .forget west med to what makes you think Vog really want to sell it ?? Perhaps the plan all along was to get GDC to a point where it is a profitable arm of Vog then use funds fromGDC to develope west med not a bad business move .whatever happens we are a very long way from seeing value here and many will come and go while long termers holdings are worth less and less
bigsmoke
Posts: 5,382
Off Topic
Opinion:No Opinion
Price:56.75
RE: Share Price
Sun 20:52
everything (the years of pain) comes down to two events 1. 108 flow results (this week?) and 2. contracts (the first (likely ENEO) before Christmas - within 5 weeks). They stall, the SP dives. plain and simple. The miss, the SP dives. They add in a surprise (sale of west med ... 109 has already been drilled ... deal with norweigans) then SP flies.
bigsmoke
Posts: 5,382
Off Topic
Opinion:No Opinion
Price:56.75
RE: Share Price
Sun 20:50
in 3 years time? we will live on mars and the earth will be populated by robots
ABLE
Posts: 123
Off Topic
Opinion:No Opinion
Price:56.75
Share Price
Sun 20:16
If I read the situation correctly all the hard graft has been done and it is now down to determining the amount of gas available for sale and to tie up the contracts. This company has in the past been fraught with difficulties as I found out to my cost however, I have stuck with the company through thick and thin and I do believe we are now on the home run and that is the reason why I applied for the excess in the open offer. In my experience this is typically the type of company that one can make their fortune in. As so often put one for the brave and not for widows and orphans but I do believe we shall see a totally different company in 3 years time.
banjomick
Posts: 1,779
Off Topic
Opinion:No Opinion
Price:56.75
View Thread (4)
RE: Eneo deal
Sun 09:31
Morning JimmyPT, It's the table on page 14 from the initial announcement "7:00am Proposed Placing Subscription and Open Offer"! (25 Oct 2017):

Number of Wells ( to 2040)

http://www.victoriaoilandgas.com/sites/default/files/171025%20Placing%20RNS%20final%20clean.pdf




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