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Cambridge. Foo doesn't do thousands
How Foo isn’t in prison yet is beyond me.. he orchestrated one of AIMs biggest ponzi schemes and remains free!!! How many thousands did he steal of f PIs!!!!!
Lea - 2016 Logbaba report from company website:
https://www.victoriaoilandgas.com/wp-content/uploads/2017/07/160815-Blackwatch-Logbaba-Reserves-Report-August-2016-Final.pdf
RNS 28/01/21:
· La-108 Remediation work was completed mid November 2020 and during initial testing the well flowed at the 19 to 20 MMscf/d limit of the surface equipment, with a Flowing Well Head Pressure (FWHP) of 3,580 psig. The full potential of the well is highly likely to exceed the capacity of the plant, which is 20 MMscf/d.
RNS 12/11/20:
La-108 Remediation and Initial Testing (details below)
· We are pleased to confirm that the fishing operation in well La-108 has been successful and the well was cleaned out to below the target perforation intervals
· Following the perforation of 2 of the sand intervals in the Upper Logbaba formation, an initial clean-up flow test was commenced on 11 November 2020
· These operations were conducted safely, with sensitivity to environmental impact, and with frequent consultation with local communities
· The well was opened up on a 16/64" choke and was beaned up to 32/64", and as of 5 p.m. GMT yesterday was flowing approximately 19 MMscf/d with a Flowing Well Head Pressure (FWHP) of 3,580 psig. The full potential of the well is highly likely to exceed the capacity of the plant, which is 20 MMscf/d
Matanda licence (RNS 24/11/20):
The project has progressed well in the first two years of GDC's involvement, and notably in July 2020 the Company was pleased to report a material increase in management's estimate of Prospective Resources, onshore Matanda. Gross unrisked, mean Prospective Resources increased to 1,196 Bcf in the Matanda Licence (onshore) from the previously reported 903 Bcf (ERCL Consultants Evaluation: 'Prospectivity and Volumetrics Report, Matanda Block, Cameroon', 2017).
This increase was the result of a detailed internal prospect evaluation which identified 19 gas prospects in shallower Tertiary-aged reservoirs, plus 7 prospects in deeper, Cretaceous-aged prospects. The Company believes the larger of these prospects has mean unrisked, Prospective Resources of over 65 Bcf, with geological Chance of Success estimated at better than 40%.
(See 'Background on Matanda' at end of RNS).
What they have is currently under review with 108 on test, hopefully loads, the last description was a hopper full!
What they have is currently under review with 108 on test, hopefully loads, the last description was a hopper full!
I guess that's why we hang in there, there's no point in selling just for a "tripe supper!!"
Just how much gas does VOG have in terms of both flow and P2 mboe?
Unfortunately they've already got the price down to fourpence half penny so I fear they want it for even less. Ha ha.
Seriously you are right though everything pointed to this being good, but hopefully there is still time.
Absolutely, I can't (or prefer not to) remember when I got involved with this demon. I know that shares are a gamble but when a company has an abundance of product like natural gas in an emerging third world state, one would think ,erroneously as it has turned out, that the figures would be stacked in ones favour. This company has been shafted by its former management and the country that it operates in. It almost seems as though there is an underlying plan to drive VOG to the wall then pick it up for fourpence halfpenny, asset strip - the gas etc., and send the rest of us to eternity licking our wounds
Lol
3CB, its exactly that same reason I've not sold. Sods law a day later they'd announce the whole of Africa wants to take Vogs gas, obviously they wouldn't pay for it, but the price would spike to 50p!
Very much a toss up between an announcement of a sale or JV , or placing to keep the gravy train going. All I know is that if I sell at these prices, the former will be announced 24 hours later.
Whilst these members you speak about are still being paid their handsome salaries each month, I doubt the thought of us royally shafted shareholders, keeps them awake at night.
if i was a member of the board of this company i would be embarrassed to see all the other shares going up and this going nowhere you could put money on it to constantly disappoint. im ashamed to be a holder of shares in this company but i do live in hope and that one day a miracle will happen. ps not holding my breath though .