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I guess it all depends on just how much money vog need to keep going , and that will help them decide how many shares they need to place.
If they need about £15m to run their business then they would need to place about 150m shares at 10p or 1 for 1.
If it's less shares than that say to raise £5-£10m just how long does that money need to last before vog can stand on it's own legs again .
They were penny shares then. Equivalent today would be 10 million shares.
I only touch it when I go to bed....
200k.....nothing would surprise me here.
who has a barge poll in their hand?
The order can be removed, can it not?
But then again someone did sell 200k shares at the low
What price will the placing be at and how did this information get to the press first ? Surely that’s fruad
if placing at 15p - did we ever exceed 57p after the last placing? post placing, could be 10-12p.
looking back at the rns history we see vog has issued all these shares.
If you want to go back and count them up I think you will find it's a lot.
2017 Oct an Equity Placing
2013 Feb an issue of Equity
2011 Sept an Equity Placing.
2010 Nov Fund raising.
2010 Sept an Equity Placing.
2010 March a Placing.
Still Not making a profit
So we are about due another 1 now.
Is that a fair look at history and their finances !!!!
They can isue 25% more shares.
Didn't vog issue some 430m extra shares in 2010 !!!!
They can do what they like.
" A minimum work programme obligation of one exploration well plus seismic reprocessing to be completed in the first 2 years of the assignment following the Presidential Decree
As consideration for the assignment, GDC will become Operator and will assume responsibility for carrying out the Work Programme agreed with the Government of Cameroon. The agreed obligation for this work programme is one exploration and appraisal well plus reprocessing of existing seismic in the first 2-year period of the PSC"
Knowing VOG's track record on drilling wells you should assume that work starts by end of year one so not too much time to build up cash reserves. Bear also in mind that even before Eneo was .lost, we had used up cash reserves and started to borrow.
OK , so please tell all just how many shares vog will be placing and why.
That might help everyone.
I am happy to see all / any buys in vog and wish them all the best, it doesn't matter to me as I am not invested in this company, and will continue to do more research so I don't lose any money if/ when I do invest.. I am also happy to post my views and any press articles i see that might help other posters.
lol - never going back to a million shares again. doesn't matter how cheap they are.
happy to hold a small amount. this share is tooo risky.
Is that you bs? Wanting to bye 1 mill shares?
Foo trust trying to kibosh any major dip?
lol - sure.
down she goes.
Yes they are in a tight spot. But I think they Will wait to raise mony untill the sp is more faveruoble. Level 2. 1 mill shares to bye at 15 p
Usually rumours have some truth in them, and being very tight on cash they would be negligent not to access their options and put the feelers out. They should have released an RNS.
It will be interesting to see the share price reaction today.
Only rumors. 14 June 2018 Victoria Oil & Gas Plc ("VOG" or "the Company") Restructure of the BGFI Debt Facility Victoria Oil & Gas Plc, the Cameroon based gas and condensate producer and distributor, is pleased to announce that, further to the operational update announced on 24 May 2018, its wholly-owned subsidiary Gaz du Cameroun S.A. ("GDC") has restructured its outstanding debt balance with BGFIBank Cameroon S.A. ("BGFI"), effective from 15 July 2018. The initial debt facility, entered into on 4 April 2016, was for an amount of XAF 15 billion (approximately $26 million). The facility was fully drawn down in 2017 and, having enjoyed six months of interest only repayments, GDC has progressed to making monthly principal and interest instalments. The amount outstanding as at the date of restructuring was $20.5 million.
Oh oh
Someone won’t face facts and wants to go down with the ship.
spouted today!