Some 'interesting' posts of late. Along the lines of - are we making profit, how much gas are you selling and at what rates.
How can the company be expected to answer the first one when it doesn't know how much it may spend later in financial year on say drilling or CNG etc. Impossible to answer and six monthly accounts will show a position and no more.
If I were VOG I would not be telling all and sundry what rates I was selling my gas for - allows clients to start to ask why they are paying more than next door etc.
We get periodic scuff updates and that should suffice.
I can appreciate why holders and indeed shorters carve information - positive or negative - just have to be patient.
It's good however that the company spokesman agrees with my main point about transparency. The more information out in the public arena the better. He's probably right it doesn't need to be monthly. Just tells us if VOG is making money and how much and what the costs are.
As my initial post re e-mailing VOG about gas production updates caused so much hostilities amongst certain posters I thought it only fair that I should post the reply I received from Lawrence this morning. -------------------------------------- Dear Mr xxxx,
Thank you for your email. We are currently look at gas production reporting methodologies as I agree we can do more with disclosure now the rates are so high. It will not, however, the monthly.
Victoria Oil and Gas
Hatfield House | 1st Floor | 52-54 Stamford Street | London | SE1 9LX
Main Line: +44(0)207 921 8820 | Direct Line: +44(0)20 3289 9923 | Mobile: +44 (0)75 5767 2432 -------------------------------- My understanding is that he agrees more can be done re disclosure of gas sales but it won't be monthly.
I didn't expect a reply in all honestly but at least VOG agree they can do more, so let's wait and see what happens......
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