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Where u bin Smoke?
bigsmoke yes my first "investment" in VOG was in 2010, then added in 2011,2012 & 2015. All I've had from the company in that time has been bs, certainly one of my worst decisions. Good to be reminded that others have been even more unfortunate, falling for what appeared at the time to be a very convincing story. Hope you're not one of those who have fared worse than me, and if you have, then like me you've been able to make good with other shares.
3card - i recall krustysmegma used to post years ago. i note the "ouchyness" of the holding. still a fraction of what some have lost.
Yes, this is my only remaining investment in Africa. Not sure how they will ever attract the funding they need to improve lives of people living there (even before COVID) when corruption is endemic across the continent. Very sad situation.
Yeah the problem with valuing assets is that what they cost is irrelevant other than in accounting terms.
Sure, comment re digging up pipeline was in jes,t but just imagine trying to get $200m for some dirty second hand gas pipe. And then receiving a bill from the Mayor of Douala for $100m for remedial work to the roads. lol
3card yes I really ought to change it. The "lads" used to sing it to the Hallelujah Corus tune from Handel's Messiah. It seemed funny at the time. I'd had 3 or 4 goes at creating a handle no-one else was already using on LSE. Maybe it was the handle (Handel??) that made me think of it. Anyway, there you go. Obviously the comment was tongue in cheek, but VOG has managed to turn my £8,281.55 investment into £171.63 so you could say I'm slightly bitter! Joking aside, I do wonder what the NAV of the company is? Surely the assets alone have to be worth more than £6m? Or is everything in hock?
What a delightful handle you've got. Perfect fit for someone posting on the VOG board. lol
£6m market cap now. Wouldn't they be better off shutting down, digging up the existing pipeline, selling it off & distributing the resulting funds?