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Started: pawnsacrifice, 4 Nov 2020 08:55
Last post: pawnsacrifice, 4 Nov 2020 08:55
could make 60m of possible play sound quite so dull and uneventful..
Novo Kurilovskiy prospect update
"Further to the announcement of 6 October 2020, testing operations have started at the Novo Kurilovskiy prospect. The formation will be tested by several perforation intervals in order to gather detailed information about the saturation and reservoir properties. The Group anticipates to complete the testing programme by the end of 2020."
picked just a few up on the dip. Doesn't seem to be a rush to "load up" but like the odds of a decent discovery - and do like to gamble. lol
Good jump on the news. Adds potential upside.
Started: Rajbury, 6 Oct 2020 08:37
Last post: Rajbury, 6 Oct 2020 08:37
Cautious RNS, but progress good.
Started: pawnsacrifice, 6 Oct 2020 08:33
Last post: pawnsacrifice, 6 Oct 2020 08:36
Isn't 60m about the same as RBD in the UK? Not completely up on their find but sounds about the same from memory.
As announced in the Interim Report, a well in the North Uzen structure established the presence of oil in a Triassic aged sandstone formation. This will be subject to flow testing after undertaking a fracture stimulation operation which management considers necessary as the oil pay is inferred to be of low permeability.
More significantly, drilling on the Novo Kurilovskiy prospect reached a depth of approximately1,200 metres. While the initial target interval, the cretaceous Aptian formation at a depth of 900-1,000 metres, had no shows of hydrocarbons, in the deeper Jurassic interval between 1,144 and1,218 metres a total of 60 metres of oil bearing pay was identified with cores taken during drilling. Since the potential pay thickness is in excess of the calculated depth of the structural closure from seismic mapping, this indicates a potential stratigraphic element to the prospect, with implications of significant upside in terms of gross oil in place.
I'm sure Renaissance know what they're doing
Bidding war?
Discussions going into October most likely hence RNS
Started: raharh, 11 Sep 2020 17:52
Last post: DShox, 15 Sep 2020 13:53
Waiting for FSP to complete. Management guided it will be Sept when process kicked off in April. Fingers crossed for a good result for shareholders.
There will be no result of FSP, no one will buy vgas. So should not be in a hurry because of this
All involved - I am not invested but thinking of doing so if I can free some capital up from my others shortly. Been looking a VGAS for a while now and I always try to look for a reason not to invest but as of now cannot see one. Wading through RNS and other research I get the fundamentals but there is added spice here.
The commodity prices don't worry me, VGAS has over £10m in the bank, a MCAP of £18m, only 81m shares in issue and is in an FSP that the BoD said should be completed by end of September (13 trading days).
I am playing with fire as I want my other investments to crystalise and expect this imminently and was planning on moving over (unless the FSP sales completes before I get the chance) but I wondered if any of the other LTHs have any alarm bells as I just see this as an opportunity that looks too good (so is it as they say?)
I also dont understand the incredibly quiet board based on all of this.
Started: comeonvog, 4 Sep 2020 17:15
Last post: comeonvog, 4 Sep 2020 17:15
Wont take much to move this .
Started: comeonvog, 3 Sep 2020 08:12
Last post: comeonvog, 3 Sep 2020 08:12
On a more positive note, early in 2019, management identified an opportunity to utilise slim hole well technology as an advantageous way of developing relatively shallow hydrocarbon resources. Initially using a contractor owned slim hole rig, the Company drilled a six slim hole wells in and around the Uzen oil field. This was in general a successful undertaking and provided the drilling team with valuable experience which has been put to use for the remainder of the programme. In mid-2019, the decision was taken to acquire a Company-owned slim hole rig at a cost of US$0.7 million, equivalent to approximately 18 months of rig rental. By the end of 2019, a total of six slim hole wells had been drilled and three others were in progress.
Based on the experience acquired with slim hole drilling, an extended drilling programme fully utilizing two rigs has been proposed comprising 8 new wells during 2020, 6 on Uzen and 2 on VM, and a further 20 wells during 2021-2022. In addition to the development drilling programme there are plans for seven exploratory wells to be drilled on identified structures in the Group's Karpenskiy licence area. While success with any one of these cannot be assumed, management is optimistic of being able to report a measure of success in finding new oil reserves for the Group. Equally importantly, any newly discovered oil reserves can be rapidly and cost-effectively brought into production.
Included among the eight production wells included in the slim hole drilling programme are two new wells on the VM field, which will be required to produce the identified remaining reserves in the field, and a new well on the Sobolevskoye field, a small currently non-producing field in the Group's Urozhainoye-2 licence area.
Started: tqhussain, 2 Sep 2020 18:51
Last post: comeonvog, 3 Sep 2020 08:00
tqhussain As you say an increase of $2.1 million in a month i would say is damm good with oil priced under $45. So they have cash of $12.1 million and production at 4,317 boepd and news by the end of this month on possible sale.
The Company is pleased to report that it received a number of non-binding proposals regarding the sale of the Company or its entire business and assets, directly from potential buyers and through Renaissance Capital as financial adviser to the Company. Such potential buyers who wished to participate in the formal sale process were required to sign a non-disclosure agreement, after which they received further information on the Company.
The Board is now engaged in ongoing discussions with certain of these parties about the sale of the Company (or its entire business and assets) and aims to conclude negotiations on or before 30 September 2020.
Once the approved audit report is out (this month sometime) and clarity on the potential "bid to buy" this stock will re-rate back to the 40p range - simples! ALB
Cash balance increased 2.1m from the pervious month. This is silly cheap, hopefully sale soon or divi/special divi or even an acquisition.
Started: BurtonD, 2 Sep 2020 13:04
Last post: Kwota, 2 Sep 2020 14:03
Well I took up a small position here this morning, and willing to wait till minimum end of September to see the outcome of the sales process. If not that this will rerate eventually.....and it will double from here easily.
Look forward to reading. As with earlier post - I have the same question - what am I missing here?!
Look forward to reading. As with earlier post - I have the same question - what am I missing here?!
With today’s news from #VGAS that average production in August has climbed 20% monthly to 4,317 barrels of oil equivalent per day from 3,590 in July, is it time to find out a little more about the company?
...Here, we covered the company in late May.
https://total-market-solutions.com/2020/05/18/volga-gas-plc/
Started: Kwota, 2 Sep 2020 11:36
Last post: Kwota, 2 Sep 2020 11:36
Am I missing something here. They are producing oil and gas are debt free and has £12m in cash and the company is only valued at £20m?
Saw the runs this morning and started looking into VGAS a bit. Seems to be very much undervalued unless there is something I’m missing? How much oil and gas do they have.....
Also see people are talking about take over....might be a good one.
Started: DShox, 2 Sep 2020 09:26
Last post: DShox, 2 Sep 2020 09:26
Started in April following multiple expressions of interest and access to data and directors provided.
Volga describes as moving to "harvesting stage".
Directors stated expected to complete in September.
Strengthening production, oil prices and cash in this final month key to closing best deal.
Started: Rajbury, 2 Sep 2020 08:21
Last post: comeonvog, 2 Sep 2020 09:18
Was priced at 39p in jan/feb with less production, Gas prices on the up as is oil.
No DEBT . This could bag today .
Rajbury Think this has been over looked by the market, excellent RNS with $12 million cash and 4,317 boepd tells me it will go higher.
This is good news, and the SP is due for a re-rate. Maybe Volga will get a bit better noticed.
MC is way too low, the company is consistently producing 3500+ bopd.
Not a lot to chat about really...just waiting to see if an offer matures and at what price
quiet here.
My guess, around 45p and then we £10m cash on the books.
Commodity prices have increased from the June avg. which hopefully helps conclude a sale.
Any inkling at what level...
Decent monthly update, £100k cash build up from previous month seems a little low but that might be due to planned shutdown maintenance cost.
IMO If the sale goes through it will most certainly be above the current SP. GLA
Started: Stretchum, 26 Jun 2020 11:00
Last post: Stretchum, 26 Jun 2020 11:00
Gaining traction. Anything north of 50p is on the cards imo. Gla
Started: Stretchum, 26 Jun 2020 09:09
Last post: Stretchum, 26 Jun 2020 10:24
Keep buying. This should rocket.
Big potential here and still legs left on thsii mornings jump that's for sure.
Multiple interests. No debt over 10m cash.
Do hope so, bought some about 4 weeks ago.
This is going to pop.
Started: BurtonD, 18 May 2020 13:19
Last post: Stretchum, 26 Jun 2020 09:21
At least 50p for sale.
Still ongoing yet the sp hasn't reacted at all. Is the market missing a trick here or are they really going to be bought out at under 30p?
"The Company is pleased to report that it received a number of non-binding proposals regarding the sale of the Company or its entire business and assets, directly from potential buyers and through Renaissance Capital as financial adviser to the Company. Such potential buyers who wished to participate in the formal sale process were required to sign a non-disclosure agreement, after which they received further information on the Company.
The Board is now engaged in ongoing discussions with certain of these parties about the sale of the Company (or its entire business and assets) and aims to conclude negotiations on or before 30 September 2020. "
https://www.investegate.co.uk/volga-gas-plc--vgas-/rns/update-on-formal-sale-process/202006260700051487R/
Surely minimum 40p/share - £40m Cap.
End of June for sale of a business where directors / board have lots of equity. That's not long to wait! Priced at £20m with over 50% cash and energy prices recovering. Seems really cheap!!!! "It is the Board's current intention to complete the strategic review by the end of June 2020 and further announcements regarding timings for the formal sale process will be made when appropriate. "
Russia-focused Volga Gas has had an eventful week. Investors may have been puzzled last week to see shares mysteriously rise 30 per cent in a day.
On Monday, after the Bank Holiday Weekend, they got an explanation – and it probably wasn’t what many were expecting.
https://total-market-solutions.com/2020/05/18/volga-gas-plc/
Started: Stretchum, 26 Jun 2020 09:13
Last post: Stretchum, 26 Jun 2020 09:13
Bidding war.
Started: karlp606, 18 May 2020 11:19
Last post: karlp606, 18 May 2020 11:19
pick up some shares here, will there be any FCA intervention - with the whatsapp debacle?
Any suspension etc?
Started: Cliveas, 11 May 2020 10:41
Last post: cattleman, 12 May 2020 09:36
Formal sales process...not FCA
FCA sniffing around. How about suspension?
Has this RNS been missed by the market?
Multiple parties involved with the FSP and as stated SP undervalues company going forward.
A bit naughty re leak of info but what price in a bidding war?
My guess more north of 50p!
GL.
Yes takeover likely...very cheap these shares now. 50p incoming
Current MC way to low for a business that can produce 4k BOED and up for sale.
Something going on here...news coming?
Nt to buy
Last post: tqhussain, 6 May 2020 05:21
May numbers should read a lot better, all relevant commodities are doing well compared to the first 4 months avg.
As at 30 April, the Group held cash balances of US$ 10.6 million, and has no debt.
This should reRate very soon. 50p next stop please !!
RNS - production down due to demand.
Bad month of April out of the way now, demand should start picking up with lockdown easing around the globe.
had a small nibble at this @ 21p. Sale or no sale it should be up from these levels.
4k production (mix of oil/gas/LNG)
No debt
Someone's in a hurry.
Nice
Started: iaintgotaclu, 17 Apr 2020 15:47
Last post: faz7475, 21 Apr 2020 17:38
Investors that know the fundamentals of this sleeping giant are going in BIG.. this will reRate to 50p soon..
I think that the MMs are trying to hold it here to flush out a couple more traders who will get bored as the SP has not gone up 50% plus in less than a day.....................
SP etc seems to be frozen
MMs using the spread to print trades as sells, last couple of trades are buys as have the majority of trades this morning.
20p to buy..will bounce hard on news...or open 50% up on news...on stealth mode