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Victoria Oil & Gas Share Chat (VOG)



Share Price: 1.36Bid: 1.34Ask: 1.38Change: -0.005 (-0.37%)Faller - Victoria Oil
Spread: 0.04Spread as %: 2.99%Open: 1.35High: 1.40Low: 1.33Yesterday’s Close: 1.365


Share Discussion for Victoria Oil (VOG)


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voger
Posts: 6,711
Off Topic
Opinion:No Opinion
Price:1.50
View Thread (3)
jim
3 Nov '14
FOO IS NOT VOG.
HE CAN BE MOVED ON TOMORROW.
if he owned 51% of the company that is another thing.
but as he only holds a small % he can be moved on tomorrow as i said.
 
voger
Posts: 6,711
Off Topic
Opinion:No Opinion
Price:1.50
View Thread (3)
lutonnews
3 Nov '14
well foo may have one eye on that anomaly.
but i want both his eyes on what he set out to do here.
he got kem up and running and lost it, he got westmed up and running and not touched it in years,
he''s got started here and things seem to have have started to grind to a halt.
he needs to stick to one thing,he has been like a child in a sweet shop over the years, starting something then getting bored and moving to the next project.this is reflected if you look in the share price from day one.
lutonnews
Posts: 2,656
Off Topic
Opinion:No Opinion
Price:1.50
Info
3 Nov '14
Info posted by kingtrader on the BLVN website last night is well worth a read.
Vog gets a lot of mentions .
Very interesting the number of oil seeps recorded in the Douala Basin.
For those that are not aware of the potential of huge commercial resources of hydrocarbons within the anomaly after digesting this info they will be now.
I don't think it will be too long before VOG decide to prioritise the impending anomaly drills.
Grahambr
Posts: 80
Answer
Opinion:No Opinion
Price:1.50
View Thread (3)
RE: VOG takeover?
2 Nov '14
Bowleven has hardly got any gas to sell (none at the moment).
Lukoil will have the gas and the clout..

Also BVLN and LUKOIL are interested in power deals not indusry as VOG so its unlikely they will
interested in any pipework.

Incidentaly that is probably why VOG may gat a 2 year trial deal with ENEO for the electric
because the other GAS will be available then maybe from Lukoil and ENEO is hedging its bets.
markettimer
Posts: 27
Answer
Opinion:No Opinion
Price:1.50
View Thread (3)
RE: VOG takeover?
2 Nov '14
I would be happy with 5p but it is a very long way from 1.5p to 5p

--------------------------------------------------------------------------------------------------------------------------------------------------------
Alright folks dont want to rattle anyones cage here but got a few questions regarding VOG and a possible buyout by BLVN. Has this ever been seen as a possibility before? are VOG now heading towards operating profits? As a share holder of BLVN it seems like there could be a real benefit of VOG's infrastructure and gas outlets especially with bonomo drills coming up. Its obvious VOG has worked really hard building what they have and share holders have taken hits with dilution so i was wondering what share holders thought about a sell out and what sort of price you would be happy with? Just a bit of speculation with BLVN due some cash after their farmout. Thanks for any thoughts.
markettimer
Posts: 27
Answer
Opinion:No Opinion
Price:1.50
VOG and BLVN
2 Nov '14
I have had similar thoughts myself re one of the following:

A merger between VOG and BLVN as VOG will be generating positive cash flow and profits to help finance BLVN's development costs and BLVN will have plenty of gas

VOG and BLVN to enter into a JV so that VOG sells BLVN's gas via VOG's gas pipework system

Anyone have any thoughts?
----------------------------------------------------------------------------------------------------------------------------------------------------------
Alright folks dont want to rattle anyones cage here but got a few questions regarding VOG and a possible buyout by BLVN. Has this ever been seen as a possibility before? are VOG now heading towards operating profits? As a share holder of BLVN it seems like there could be a real benefit of VOG's infrastructure and gas outlets especially with bonomo drills coming up. Its obvious VOG has worked really hard building what they have and share holders have taken hits with dilution so i was wondering what share holders thought about a sell out and what sort of price you would be happy with? Just a bit of speculation with BLVN due some cash after their farmout. Thanks for any thoughts
Mr.B
Posts: 154
Observation
Opinion:No Opinion
Price:1.50
VOG
2 Nov '14
I am a long term investor in VOG and as long as the company is still around in 5 - 10 years and delivering profits for it's shareholders then I will be happy.

VOG is still in it's infancy and FOO, whether you like him or not, is attempting to build a utility company in Douala, which is a major industrial hub for Cameroon and Africa.

VOG is the first gas company in Douala attempting to convince potential customers to covert to gas..

Most of the industries in Douala I suspect have never experienced gas before so convincing these potential customers to convert isn't going to be easy.

One way to achieve these conversions is to target the major companies in Douala ( Guinness / Dangote etc ) and then hopefully the smaller companies will follow suit when they see the benefits.

I believe that Douala is hungry for power as there are problems / shortages with the electric grid system.

The problem is convincing these businesses that gas is the answer.

FOO is right to target the major power suppliers in Douala as that is where the majority of the revenue will come from for VOG and us shareholders.

Whether FOO is successful in this task we will have to wait and see.

As long as the supply of gas is guaranteed for the electric company then surely it is only a question of what cost will the gas be supplied at.

I like many others though do have my concerns;

The signing of contracts and connections appear to have dried up.

The connection of Dangote in fairness to FOO is out of his control, it has to do with the congestion at the port delaying the delivery of equipment for the factory.
http://www.cameroonweb.com/CameroonHomePage/business/artikel.php?ID=311904

There are three connections due once the pipe under the river has been pressure tested but there is no mention of any other connections due on the other side of the river.

To get further customers the trunk of the gas pipe is going to have to be extended through the centre of the industrial are, so branches can be feed off the main supply, as can be seen by the lines in red...
http://www.victoriaoilandgas.com/gaz-du-cameroun/douala-–-our-market

But where is the money going to come from for the extension.

I understand the $16.3 m received from RSM and the $8.3 m loan were used to fund the pipe laying to Dangote and the river crossing.

VOG should get a further of sum of cash when Deloitte have given their verdict. How much this will be nobody knows but it should give a boost to the company. My concern is, as FOO highlighted in his 2014 company presentation, if RSM fail to cough up it's back to the courts. Not good for company profile or shareholders.

I believe that the lack of interest in the company by investors at the moment is lack of customer connections.

On the positive we appear to be at cash break and generating revenue albeit not as much as we would like.

As long as VOG doesn't go bust and keeps making headway then i'm happy.
Bordersman
Posts: 2,605
Answer
Opinion:No Opinion
Price:1.50
View Thread (4)
RE: Cash
2 Nov '14
Well JimV

I like the project. I like the idea of going long on a development project with FTSE 250 ambitions. Logic told me you bridge to profits with debt.....because its normal. The company told us it would and still has at least £5m assets it could monetise, then just after telling us it had a bridge to profits it had a monster dilution. It flagged the path to 40 mmscufs in the 2012 an report and in Oct 2013 flagged near but confusing path to exceed 10. Here we are.

It would be great to believe :

1. Local bank loan financed gensets are going to grow consumption lots
2. Dozens of GSA's mean loads of hookup thermals at $16 / scufs
3. Gas for Powergen is just about to make the sp fly
4. Bottled gas is the bees knees and its coming.
5. Midcap possibility

...........but believing is heck of a difficult.

1. No info
2. Not a few GSA's on existing pipe. No explanation as to why there havent been lots of hookups.
3. Gas from VOG to power grid seems even likely. If the price isn't right the ROCE wont be there.
.......my guess is that we wont know the price till we work it out from an annual report.
4. Condensed gas. Well I am prepared to believe if there is some evidence on price and demand.
5. Midcap FTSE is likely until there is a credible Board including a credible FD.

I want to believe. Its difficult and I am ovexposed. I would double up for the next 3 years if I really believed, I suspect I am not alone ( apart from Voger). Credible volume and price projections from the company and I probably would believe. Its difficult.

Mel
Ramayer
Posts: 94
Off Topic
Opinion:No Opinion
Price:1.50
View Thread (3)
VOG takeover?
2 Nov '14
Alright folks dont want to rattle anyones cage here but got a few questions regarding VOG and a possible buyout by BLVN. Has this ever been seen as a possibility before? are VOG now heading towards operating profits? As a share holder of BLVN it seems like there could be a real benefit of VOG's infrastructure and gas outlets especially with bonomo drills coming up. Its obvious VOG has worked really hard building what they have and share holders have taken hits with dilution so i was wondering what share holders thought about a sell out and what sort of price you would be happy with? Just a bit of speculation with BLVN due some cash after their farmout. Thanks for any thoughts.
mrJimV
Posts: 7,843
Off Topic
Opinion:No Opinion
Price:1.50
View Thread (4)
RE: Cash
2 Nov '14
Just to make a very clear point to you voger , Mr Foo is not going to leave VOG as he is VOG , you can say what you like and think but as he is the CEO he is VOG . so if you you dont like KF you dont like VOG , he will more than likely be CEO of VOG long than you will own shares in VOG even if you are in the next 3 years .
As for dilution you have spouted on about VOG diluting since the last dilution in Feb 2013 , guess what he hasnt , and I will tell you he doesnt intend to , he has got VOG to a position not needing to dilute but needs to consolidate to a better position for the company and investors ,
I am not sure why you bought into VOG certainly why you bought more the way you knock the company (KF) , as for getting to a £1 .00 , lets wait and see . but IMO sooner than you think . as for your prices you haven`t seen what VOG gets or pays out or what is in the pipeline on what VOG tends to do in the next month .
all the time you were spouting off last month a few hard workers were getting that pipeline under the river across the otherside all done just testing and on time .
Stop moaning .



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