We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
If anyone wants a copy of the admin report issued today drop me an email
rayfenn68@gmail.com
Extension to FEB 2025. Asset sales being looked at.
No major "new" news as far as I could see though
Kevin Foo
He has held CEO and Chairman positions in several AIM-listed companies including Celtic Resources Holdings Plc, Eureka Mining Plc, Bramlin Limited and Bakyrchik Gold Plc.
New update today on the admin portal
Admin period extended until FEB 2025
Seeking a restructuring / asset sale
CHL who initiated this admin have now ceased paying babr.co.uk (the first admin) and babr have now resigned
resolve now sole admins
Today 19th Sept the administrators have issued a new updated report. if you want a copy e mail me:
rayfenn68@gmail.com
After reading Kever's report that he kindly forwarded from the Administrators it would appear that VOG is still alive but on its last legs. I suspect there will be an announcement in the near future that the company has folded and share holders will get nothing.
My question...
Do you know if it is possible to do an interspousal transfer of a delisted company? We would like to make use of the forth coming loss but against me and not my wife who holds the stock
Many thanks
Iain
If anyone wants a copy of the latest adminis report email me
rayfenn68@gmail.com
Any news ?
Has anyone heard anything since the presentation, out of which we mere shareholders were kicked before any juicy chat? Tks
Price approval
This increase in production costs in industrial companies has resulted in an increase in final consumer prices for households. “ In the same wake, we noted a significant increase in final consumer prices for households of 6.3% in 2022 (i.e. more than double the 3% accepted as the tolerance threshold in the CEMAC space, editor’s note) . So companies have not fully deferred producer price increases to final consumption, but have cushioned the blow, either through government measures in the form of subsidies or by cutting their margins,” points out the INS analysis note.
Among the companies forced to reduce their profit margins to cope with rising production costs, we can cite those whose product prices (rebar, cement, sheets, palm oil, refined oil, etc.) to the consumer are regulated by the approval procedure. Indeed, despite the explosion of their costs, these companies cannot pass on the additional costs to the final prices for the consumer. This insofar as the government, which is responsible for approving prices, has systematically opposed for years any increase in prices on the market, despite the context of generalized inflation.
Because of this opposition to any price increase, the last approval of rebar prices in Cameroon dates back, for example, a decade ago, notes the Cameroonian Organization of Steel Processing Industries (Ocita). Whereas after the oil and gas industry, the steel and metallurgy industry, from which concrete reinforcing steel and many other ferrous materials come, is identified by the INS as the 2nd branch of activity suffering the most significant increase in production costs for at least 2 years. The increase in electricity and natural gas prices, two sources of energy of which steelmakers and metallurgists are the main consumers, should complicate the situation in this sector during the year 2023.
Brice R. Mbodiam
(business in cameroon) - in a letter sent on may 15, 2023 to its customers, gaz du cameroun (gdc), which supplies natural gas to around thirty industrial companies in the city of douala, the country's economic capital, announces a 20% increase in its prices, starting june 1, 2023. the cameroonian subsidiary of the british victoria oil & gas (vog) explains this “first price increase in 10 years ” by “ the significant increase in its operating costs », because of the global situation.
the rather significant increase in the prices of natural gas intended to supply the main production plants of the economic capital of cameroon comes after the extension to natural gas of the special tax on petroleum products (tspp). contained in the 2023 finance law of the state of cameroon, this extension has since january 2023 required companies that consume industrial gas to pay the tax authorities a tax of 70 fcfa for each cubic meter of gas consumed.
at the same time, since january 2023, the electricity sector regulatory agency (****l) has also increased electricity prices by nearly 30% for "key account" customers, a term that includes industrial companies reputed to be energy-intensive. to this must be added the increase since february 2023 in the prices of super, diesel and kerosene used by manufacturers. on these energy sources, the proportion of the price increase varies between 15.8% and 36.5%.
russian-ukrainian conflict
the explosion of energy costs in the industrial sector in cameroon since the beginning of 2023 should result in a much greater increase in production costs for companies. indeed, since the post-covid period, aggravated by the outbreak of war between russia and ukraine in february 2022, these companies have already seen the ex-factory prices of their products experience significant increases, due to the skyrocketing prices for sea freight and raw materials on the international market.
indeed, according to the industrial producer price index (ippi) published by the national institute of statistics (ins), production costs in industrial companies in cameroon in 2022 experienced the largest increase in 6 years. , reaching 13.3% year-on-year. according to ins data, two main sectors of activity are particularly affected by this increase in production costs.
these are the extractive sector, in particular the oil and gas industry, and the steel and metallurgy sector. in these two branches of activity, ex-factory prices increased by 29% and 16.9% respectively during 2022. against only 5.8% in the chemical, pharmaceutical and plastics industry; 1.9% in the textile industry; 10.9% in the food industry and 15.9% in the leather industry.
price approval
this increase in production costs in industrial companies has resulted in an increase in final consumer prices for households. “ in the same wake, we noted a significant increase in final consumer prices for households of 6.3% in 2022 (i.e. more than doub
Because I have to pick up the children from school at 3pm
If you are a VOG shareholder why didn't you take part in the zoom meeting if you care so much ?
Did anyone attend the zoom meeting?
Is there any hope left?
Todays Zoom meeting cancelled as more administrators have been appointed.
Zoom meeting now 3pm Thursday 11th May
I was unfortunately unable to attend, was there any "new" news, or was it just procedural? Thanks
Zoom meeting for shareholders WED 10th MAY 11am UK time
Thanks for the continued updates.
Roy Kelly (CEO) has had his employment terminated along with a NED.
Rob Collins (CFO) and Kennedy (Chairman) stay on
Victoria Oil & Gas Shareholders
Dear Sir/Madam,
Please be advised that it is necessary to adjourn this morning’s virtual meeting to consider the Joint Administrators’ proposals.
Please accept our apologies for the short notice and an explanation of the reasons for this adjournment will be circulated to all creditors and shareholders under separate cover with formal notice of the adjourned meeting date and time.
For and behalf of Tommaso Ahmad and Paul Bailey
Joint Administrators of Victoria Oil & Gas Plc (In Administration)
Yours faithfully
The affairs, business and property of Victoria Oil & Gas Plc ?(in Administration)?
??are managed by the Joint Administrators, ?who act as agents of the Company
?and contract ?without personal liability.
Victoria Oil & Gas Shareholders
020 3393 6938
victoria.shareholders@babr.co.uk
www.babr.co.uk
There will be no RNS. We are not listed on AIM anymore. We are a private company currently. We will get an email off babr at some point if you are on the shareholder register
RNS next week at some point?
@Kever - so we can expect reinstatement at some point?
Cancelled as its looks like an agreement has been reached between CHL and VOG over payments.