out of interest Jack Gryburgs take on winning back his rights has not been published so here it is.;~
"This is a significant victory for RSM and vindicates our long held position. The Board of Victoria Oil and Gas has repeatedly made inaccurate and incomplete claims concerning the ownership of their major asset, which is a hydrocarbon concession in the Cameroon. As I have pointed out before, their claim that they owned a "95% working interest" in the Logbaba Concession was false and has resulted in protracted, expensive and unnecessary arbitration on account of Victoria Oil and Gas. This has now ended with a unanimous finding that RSM owns 40% of the Logbaba Project, along with certain other incidental rights. The arbitration also confirmed that RSM owns 100% of the Logbaba No. 101 and No. 103 wells and VOG has 0% in these two (2) bypassed natural gas condensate wells. "As President and Chief Executive of RSM I have been involved in the Logbaba Concession since it was initially granted to RSM in May 2001. I intend to review all strategic decisions that have been made unilaterally by VOG without regard to RSM's rights in the project. Going forward, RSM will be actively involved in the management and operation of all commercial projects in respect of the Concession and I will continue to take such steps as are necessary to protect its interests."
RSM has written to VOG requiring an audit of its project management and requiring that it now pays to RSM its overriding royalty on gross production estimated by RSM to be $510,000.
Meanwhile, RSM's International Centre for Settlement of Investment Disputes (ICSID) case against the Republic of Cameroon is proceeding to arbitration. RSM's claim is for declaration, rescission and damages on the basis that VOG and Cameroon made unilateral detrimental concessions on gas price and licence area without the authority and agreement of RSM. The case was registered on 1 July 2013 and a first hearing is expected early in 2014.
Did the fool mention the on going claim for contracts damages against CAM.gov.,?Nothing to do with the 40% thats sorted
I dont think many on here think KF has done a good job far from it in fact. KF and his merry band of clowns including fox dilution have done very well out of the continual screw ups.. everyone else not so much. I just pray they dont screw up the power contracts and that Cameroon Holdings (KF) isnt allowed anywhere near next years drilling. Thats all I hope for these days with our pathetic market cap
As for posters making fools of themselves look to yourself.
As in 'near future' that would be before the new year otherwise we are into Q1,so we can expect a sustained rapid lift in the sp towards your £1.00 target,on the expected RNS,~ no chance. The same as your researched opinion ~ traders interest would not fall off,that interest has fallen off a cliff which is one little reason amongst many why the sp will not react in a sustainable fashion~ only the mms will move the price in hope.
jim the bloke cant get 3 customers connected that he said was ready to connect a month ago. but you have this crazy idea that these 2 power stations will be connected by march? i am telling you now, it will be a miracle if we get a contract this side of christmas. in fact i will go as far to say there is no chance this year, looks like we are stuck on 3.9 scuffs for this year, so much for the 12 he said had slipped into this year.
god give me strength from fools that just can't see the facts in front of their nose. Jesus said turn the other cheek, well i did for 3 years and the man just kept on slapping it, there was, and is a time you just have to say enough is enough. for the love of god man, open your eyes and speak the truth. foo is not up to the job, admit it.
Voger is correct in respect of the 3 connections . Even you cannot think of an excuse for that one which was only a case of connecting the pipe .To which there would be an announcement !!! . As for your power stations , yes they would be lovely for the shareholders . It is not going to be early next year is it , being realistic as the contract hasn't even been signed yet . Having said I am confident that VOG gas sales will increase but there is no excuse anywhere for constantly failing to deliver on timelines and then keeping shareholders in the dark of the reasons why .
i hate to say this, but there is a problem here. its been a month now, we all thought he was holding the news BACK to support the SP after consolidation. HE said all the work was done just a case of connecting the pipe.? come on people, how can you have any faith in this man Foo.? he is a walking liability. how can anyone keep getting things so wrong is beyond me. he will have to get his paid supports out in force today to try and put some sort of spin on what is beginning to look like another cock up. i honestly give up on this man.
Well KF isn`t going anywhere and quite a few on here think he has done a good job , now nearly all the pipelines are in VOG just needs to connect up new customers , early next year he would have connected up 2 power stations , then most invested in VOG will be happy with KF .so if you think VOG wont work with KF best you leave because as I said he isnt going .I am suprised you didnt go to the AGM and tell him to go and point out what you think of him , but I think you would have been on your own as most were happy what VOG was saying for the near future in operations.
jim lets get one thing strait, i have never said VOG have no prospects. i would certainly NOT be invested here if i thought that. the fact is foo is one man,a man that HAS NOT done a very good job here,for shareholders or the way he has gone about his business here.he his not the right man,and needs to go. history shows that as a FACT. you see many of the top 100 companies move there ceo on if they have not done the job.they bring a new man in and turn the company around, only a fool can argue that foo has done a good job here. if he was CEO of any large company he would have gone after the kem fiasco. and thats a fact.
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