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Victoria Oil & Gas Share Chat (VOG)



Share Price: 36.25Bid: 36.00Ask: 36.50Change: -0.25 (-0.68%)Faller - Victoria Oil
Spread: 0.50Spread as %: 1.39%Open: 36.25High: 36.25Low: 36.25Yesterday’s Close: 36.50


Share Discussion for Victoria Oil & Gas


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bigsmoke
Posts: 1,087
Off Topic
Opinion:No Opinion
Price:36.25
RE: sp at the moment
Today 09:34
Nicko60, I thought there was an operational profit last year... It was the write down of west med that scuppered the numbers
 
nicko60
Posts: 184
Off Topic
Opinion:No Opinion
Price:36.25
sp at the moment
Today 09:22
I hope the loss is vastly less than reported than last year end report, breakeven or better i hope
bigsmoke
Posts: 1,087
Off Topic
Opinion:No Opinion
Price:36.50
this was the day for news
Today 08:10
sector is doing well. are they really taking this to Tuesday?
bigsmoke
Posts: 1,087
Off Topic
Opinion:No Opinion
Price:36.50
RE: CHL Royalty - fixed vs sliding
Today 06:33
Thanks Space and snowball44. I see we are into the 30m to 240m phase given the charge in last years accounts. Shouldn't be too long before the 15% drops to 6%. In any event, given profits are being made. Do I really care? I was thinking on the way home how much I would get if VOG declared 1m div. it added a skip to my step! I guess MrJimV is right about the no of shares. I know we are a growth company and will be using profits. But it won't be long until 1m is easily distributable.
Snowball44
Posts: 100
Off Topic
Opinion:No Opinion
Price:36.50
RE: CHL Royalty - fixed vs sliding
Wed 20:59
Bigsmoke re your post of 19.21. Yes I had seen the sliding scale mentioned in the note to the accounts. In that connection, the RNS clearly states a sliding scale averaging 6.8% so there is no problem there. I see SpaceHoppa has already accurately answered your second point.
SpaceHoppa
Posts: 1,723
Off Topic
Opinion:No Opinion
Price:36.50
RE: CHL Royalty - fixed vs sliding
Wed 20:56
I am not 101% sure Mr Big.
I assume the CHL royalty %, like Mr Grims %, is just for the revenue derived from gas from the Logbaba field. CHL, I presume, have no claim on infrastructure, or it's use, & if no gas is used from Logbaba, ie Matanda gas is used, then they get 0% from sales.
Rsm, do however, have an interest in the facilities.

Glorious leader Mr Foo, may have found a way to essentially, sideline both Rsm, & CHL!
bigsmoke
Posts: 1,087
Off Topic
Opinion:No Opinion
Price:36.50
RE: CHL Royalty - fixed vs sliding
Wed 20:12
Good to hear you, SpaceHoppa. Good point. Still $1m is not HSS stuff. So, life of field is what? The P1 gas? The P2 and P3 gas too? Not the revenue from the use of pipes? Not mantanda gas through the infrastructure?
SpaceHoppa
Posts: 1,723
Off Topic
Opinion:No Opinion
Price:36.50
RE: CHL Royalty - fixed vs sliding
Wed 19:54
Vog, did not buy a rig back in 2009, it had some ''drilling equipment'', whatever that is,
however certainly not a jack-up drilling rig.
CHL, aka, Mr Foo's trust, have a royalty agreement for the life of the Logbaba field, as far as I know.
Happy to be corrected of course!
bigsmoke
Posts: 1,087
Off Topic
Opinion:No Opinion
Price:36.50
CHL Royalty - fixed vs sliding
Wed 19:21
SB44, the RNS appeared to state that the CHL interest is a 6.8% (fixed) royalty, but the note in the 2015 accounts state that it is sliding scale..."Sliding scale production royalty to CHL ranging from 0-15% of GDC revenue from the Logbaba project for the life of the Logbaba field (0% up to $30 million of cumulative GDC revenue from the Logbaba project; 15% of cumulative revenue greater than $30 million up to $240 million; 6% of cumulative revenues in excess of $240 million)". Maybe 6.8% is the expected royalty over the life of the project.

The payment for the 58% of PRM’s shares in CHL was $2.5M "and drilling equipment with an estimated value of US$1 million". Are we saying that VOG sold its drilling equipment in 2011 to get 1/3 of CHL to now take a $26M bank loan to hire new drilling equipment which seems to take forever to arrive.
bigsmoke
Posts: 1,087
Off Topic
Opinion:No Opinion
Price:36.50
RE: Trades
Wed 19:03
SB44, by 65% do you mean the 2/3 remaining interest in the 6.8% CHL royalty interest? Also, the RNS stated that it was "in its [VOG's] 95 per cent." that was before the arbitration award. So, are you reading that as 6.8% CHL royalty interest in VOG/RSM 95%/100% stake (don't think SNH ever elected for its 5%) or VOG's 65% interest (post arbitration) in Logbaba?




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