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Victoria Oil & Gas Share Chat (VOG)



Share Price: 56.00Bid: 55.00Ask: 57.00Change: 54.67 (+4,110.53%)Riser - Victoria Oil
Spread: 2.00Spread as %: 3.64%Open: 50.25High: 57.50Low: 49.00Yesterday’s Close: 1.33


Share Discussion for Victoria Oil (VOG)


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SpaceHoppa
Posts: 832
Off Topic
Opinion:No Opinion
Price:1.38
View Thread (5)
RE: my two-penneth
7 Nov '14
''RSM will have to give VOG about $20mill now ''

Mr Jim, I do not think Rsm will be paying anything like that amount as they have already paid $20m!!,

Drilling costs are recouped via gas sales so unless Vog have spent a massive $100m on infrastructure, which they have not, then Vog will be getting a lot less. Furthermore if Rsm have been paying this years cash calls then the only dispute is over the initial $26m, of which they have paid the majority and wanted an audit for the whole of it ,so Vog may not get very much if the audit finds some discrepencies!
 
Bordersman
Posts: 2,620
Answer
Opinion:No Opinion
Price:1.38
View Thread (5)
RE: my two-penneth
7 Nov '14
B
I too am concerned about cash. However I assume that in the next 12 months :

1. Dangote ( 1.2 scuf - couldbe more)
2. say 5 Thermals ( 1 + scuf)
3. half of the 10 scufs for the grid
Total 7 + more scufs

That certainly should ensure ongoing profits and cash generation. I dont think it will be enough to cover expensive new drilling......but VOG should be able to borrow more on future cash generation. As JimV notes - chunky cash also due from JG.
You could be right about need to raise more finance. However if it is a "short bridge" to another 5 scufs for the grid,
it would be surprising if VOG was not then in a position to borrow most rather than dilute.
mel
mrJimV
Posts: 7,879
Off Topic
Opinion:No Opinion
Price:1.38
View Thread (3)
RE: Just
7 Nov '14
voger
Not burying my head in the sand but investing in a company that is performing very well , (not day trading) , no bad news today and it stopped the SP dipping with a little increase , also let some buy in before coinsolidation or sell before , most had thought the pipeline test would have been ok but the rns just rubber stamped it , also most would have thought it wouldnt have made the SP just high , pretty well factored in , it`s that 4.3 bill i want to see sorted out 109 mill will be far better for VOG . then I can see a steady rise .
PottyTime
Posts: 4,113
Off Topic
Opinion:No Opinion
Price:1.38
Dear Potty
7 Nov '14
I undertand why VOG isn't performing according to the Newtonian Universe. For the same reason my sleigh can fly pulled by celestial reindeer and that I can wriggle down every chimney in Christendom without getting sooty and blackened.
It's all absolutely potty my friend. That's why I breed reindeer and not bother with blessed shares.
P.S. Thank you for the pies and sherry, much better than what the Vicar left me last time.

your faithfully,
Father Christmas
mrJimV
Posts: 7,879
Off Topic
Opinion:No Opinion
Price:1.38
View Thread (5)
RE: my two-penneth
7 Nov '14
Another Big bill is on it`s way to RSM which includes their share of the river crossing , what with the audit which is eye on complete , RSM will have to give VOG about $20mill now .
mrJimV
Posts: 7,879
Off Topic
Opinion:No Opinion
Price:1.38
View Thread (4)
RE: steny
7 Nov '14
steny
No not saying that , the heading was right but it was saying they have just got to test the pipeline , but todays news (RNS) said testing is now complete , the news link was good but we have past that stage hense news today .
Mr.B
Posts: 158
Observation
Opinion:No Opinion
Price:1.38
View Thread (5)
my two-penneth
7 Nov '14
What concerns me about VOG is they appear to be running out of cash.

The money they got from GRIMM and the loan at the beginning of the year appears to have been spent on the river crossing and the connection to Dangote.

Which is all well and good but the river crossing is only going to increase customer connections by 3 and they won't be using huge amounts of gas and there are no immediate plans to expand the main pipe line to reach the 10 (alleged) further gas customers with contracts signed.

With the exception of Dangote I am unable to find any further customers due for connection in the main Douala industrial area that has the potential to increase revenue.

VOG do appear on the surface to be make progress with supplying the grid with gas.

If VOG can pull this off then all well and good but this will take time before the revenue starts rolling in.

But where are they going to get the money from to finance it because they are only just breaking even at the moment.

My view is that there may well be a share dilution towards the end of next year to fund further projects including the drilling of two further wells.

I hope I am proved wrong but I wouldn't trust FOO although I am invested in his company for my sins.
PottyTime
Posts: 4,113
Off Topic
Opinion:No Opinion
Price:1.38
Down the roof we go... .
7 Nov '14
Dear Father Christmas,
Please can you help me understand why progress does not equal an upward shareprice trend ?
We have gas and we have pipes, we have a portacabin and a computer, we have an executive stress toy (a brick), and a photo of George Soros and we've got Beri Beri. Also Damngoat and plenty customers and some power station talks.
Hope you like the sherry and the mince pies.

thanks and bless you and yours,

Potty 'About' Time **
kmyb
Posts: 1,202
Off Topic
Opinion:No Opinion
Price:1.38
Friday afternoon read...
7 Nov '14
An article published in Cameroon in May 2014 about the takeover of AES Sonel by the British company Actis.

https://www.cameroon-tribune.cm/index2.php/bible.cc/index.php?option=com_content&view=article&id=81571:actis-promises-continuity-better-infrastructure&catid=2:economie&Itemid=3

Looking at Actis' website, they certainly appear to have plenty of experience in the energy field within Africa.

Have a good weekend all, including Voger. :- )
rodlin
Posts: 2,439
Off Topic
Opinion:No Opinion
Price:1.38
voger
7 Nov '14
Why the negativity today, we got a decent RNS with more to follow. what little credibility you have left is going the same way as the bar of soap in my downstairs loo. Disappearing fast!!



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