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Up over 1p now
Some of you guys live in dream land and don't listern , I am NOT that poster I have never bought into vog.
I have bought some Debs as a gamble but only under £5k worth, so you can go on all you like it's water off a ducks back.
Fortunately for me the way things are going with vog I will NOT be losing money like some But could buy in when if they agree new funding at say 10p.
2017 : $23.5 million revenue (2016: $32.8 million)
2019? $24 m
Mel
He sold out of VOG to buy DEB and can't move on - needs the VOG share price to get to less than 50% of when he sold.
Then he'll feel more vindicated and less of a plonker...
But then DEB will go bust and then he's a plonker all over again - plonker is what plonker does.
Not lying just basing my numbers on whats out there.
Did they have $3.2 million in the bank in September ?
Is that enough to pay the bills - NO
Is ENEO and everything else currently being fully paid - not a chance.
Are they cash positive - maybe soon but not yet.
My position hasn't changed, i'm bullish but only when they come clean on the numbers.
Not FOO clean or VOG clean - CLEAN !
As per normal after an rns, but sp will drop down again today , but to what?
No fcuckin' way. We'll be paying for the last one for evermore. Unless of course you were being ironic.
More Pratting around.
Yes, he generosity personified.
A few million dollars and more royalties forever.
If he gave a **** he would have told the market ages ago he was cutting costs/salaries/royalties.
Hmmmm, so why would anyone buy now at this price when the placing will be at a much lower price, you might as well wait. 10p 0r 12p or 14p ?????????
The obvious solution is foo to dip his hand into his pocket and do a short term loan. Don’t want to lose the gravy train! It has to be worth a few million a year.
Very disappointed for the Shareholders here, no light at all at end of tunnel Cameroon is run by dictators
We know a few things but they won’t push the price up.
What’s certain then ?
Vog have got options and this has been sold down so we should be in for a nice rise today
They might not be able to tap “the large shareholder base” anymore - hence the repeated updates. Could be administrators calling shots soon.
Banjo, you’re talking about the BOD Production updates, right?
$3.2 million in the bank at the end of September, low production and burning through over $600k per month the pot is empty.
I thought it would be tight, interesting that the average is 80% of the total (so $1.6million net) and that assumes it’s being fully paid already.
I suspect the delay is because of the decision whether to try and make this the last fund raise and/or whether a smaller one will see them through. Deal with the drilling another way or from possible revenue from other sources.
Interesting..
I shoul not have topped up yesterday.
If they only came clean and tagged to Dec RNS
Old FOO is trying his hardest to get the SP higher so he can do a placing unfortunately we see straight through him now .....reading the RNS there is one coming and soon...
Smacks of desperation.
No confidence at all.
Where’s that article? Bozzo
Lol
Agree, with the likely cash burn up until this point and the cost of the day to day running I think they will need to raise funds. The question is do they deal with just now or do they try to put something in place for the next drill at the same time.
£2 million a month will possibly just about cover the bills, the royalties and the amortisation of the debt - possibly.
Production Update
Tue, 29th Jan 2019 07:00
RNS Number : 3762O
Victoria Oil & Gas PLC
29 January 2019
29 January 2019
Victoria Oil & Gas Plc
("VOG" or "the Company")
Production Update
Victoria Oil & Gas Plc, the Cameroon based gas and condensate producer and distributor, is pleased to provide a further update on the increasing production levels at the Logbaba Project.
· 9.6mmscfd average gas consumed January 2019 to date
· 12mmscfd average production for week 19-25 January
· Current gas and condensate production levels provide estimated monthly net revenue of approximately $2.0m at 12 mmscfd.
Grid power customer ENEO resumed gas consumption on 22 December 2018 after nearly a year offline and this has led to 9.6mmscfd average consumption for January 2019 to date. If condensate production is added, this equates to 10mmscfd.
At the 12mmscfd level, approximately 56% of gas is consumed by ENEO and the balance is to thermal and Industrial Gas consumers. This is the product balance that the Company wishes to maintain and focus on non-grid solutions is ongoing.
At the 12mmscfd gas production level net Gaz du Cameroun (VOG subsidiary) monthly revenue from gas and condensate is approximately $2.0m.
Press Speculation
The Company notes the recent speculation in the press with regards to a potential fundraising by VOG. As with many other AIM companies, VOG continually assesses its cash requirements and funding, both debt and equity and currently is assessing various potential funding options. In adherence with market regulations any announcement in relation to any fundraising decisions would be made in consideration of due process via the formal channels and VOG has nothing further to announce at this time. However, the Company is encouraged by the strong cash flows projected from its Cameroon operations, which reflect the January figures above.