I bet Laurence Read is pestered by moron's all day every day. If you have questions then get off your backside and get to the AGM on Monday were you can ask as many questions as you want. All relevant VOG news comes via RNS's to everyone.
"Operationally they are doing what they say they are going to do. they don't speculate and they don't tell small shareholders what is happening as they blurt it out on bulletin boards often misquoting what has been said. I know the last point because I was told it by the company, They are better off updating the market when things happen and not before. When they have enough figures/money in, they will evaluate whether they are making money and no doubt will let us all know."
I have tried in the last two weeks to get answers from Laurence Read at VOG, but whereas on the past he was prepared to discuss the company, now whether it is the proximity to the AGM or just the fact that they don't give a damn about private investors any more I don't know. Disappointing that he has not even got the courtesy to respond, which I regret to say sums up the performance if the company in recent times other than one good deal. If you look back I have been a very strong supporter over time, now getting really frustrated but still holding.
Victoria Oil & Gas has made solid progress on its strategic goals this year. The company’s gas sales nearly tripled year-on-year over the nine months to the end of September, and gas production doubled during the third quarter. Also, Victoria is planning more drilling activity during 2016, which should see gas production and sales increase further. During the third quarter, group gas production reached an all-time high of 15.2m standard cubic feet per day. And Victoria is cash-rich, which is rare for such a small player in the world of oil and gas. At the end of the third quarter the company had $12.8m of cash, down from $14.2m as reported at the end of the second quarter, but the company reduced debt by $2.4m during the period. In other words, cash generated for the three months to the end of September was around $1m.
Overall, as Victoria is the only company in this piece that’s cash-rich and generating cash, it looks as if Victoria is the AIM champion that should take a place in your portfolio.
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