VOG.L Share Chat (VOG)

Has anyone got any idea of when adminstration will be complete.

Supra3 😁

Unfortunately we have to wait the administration process - which is a shame as we will have to wait until 2027 to declare the loss

Chambersiain2 did you seek any advice as I was under the view that we can't declare losses until the admin process is concluded. Although unlikely say ..we get the $112million then the. Company clearly will have assets to distribute....

I've taken a significant bath on this stock and having read the HMRC guidelines around reporting this as a capital loss it would appear we can now do so as the likelihood of anything coming back to shareholders is negligible. What are others doing here with regards reporting their loss?

22 Sep 2025 Administrator's progress report

https://find-and-update.company-information.service.gov.uk/company/05139892/filing-history/MzQ4MTk3OTYzMGFkaXF6a2N4/document?format=pdf&download=0

https://find-and-update.company-information.service.gov.uk/company/05139892/filing-history

Has anyone got access? I got the notification but now have a logon issue, waiting for response from Administrators but wondering if I am even missing much, based on earlier updates... Thanks

Insolvent UK company Victoria Oil & Gas plc has brought a long-threatened Energy Charter Treaty claim against Kazakhstan, seeking at least US$112 million over an alleged corporate raid on its local assets. Toby F. reports.

Victoria is represented by Sarah Vasani FCIArb of CMS and Baiju Vasani of Twenty Essex. The case is being financed by Therium Capital Management.

https://www.linkedin.com/posts/global-arbitration-review_insolvent-uk-company-files-ect-claim-against-activity-7310058735299670018-JsrL

Posted 24th March. Global Arbitration review.

Could be VOG.

UPDATED: An insolvent UK oil and gas company has brought a long-threatened Energy Charter Treaty claim against Kazakhstan, seeking at least US$112 million over an alleged corporate raid on its local assets.

26 Mar 2025 Administrator's progress report

https://find-and-update.company-information.service.gov.uk/company/05139892/filing-history/MzQ1OTM3ODY2MGFkaXF6a2N4/document?format=pdf&download=0

If anyone wants a copy of the admin report issued today drop me an email

rayfenn68@gmail.com

I thought this was old news but apparently not. Looks like the project has been revived.

GDC were at the AEW conference toward the end of last year looking to farmout Matanda.

Administrators should be providing an update within a week or so. Could be interesting. On more than 1 front.

Cameroon continues its efforts to strengthen its energy production capacity by initiating two gas-fired power plant projects with a combined installed capacity of 500 megawatts (MW). These projects, planned under the Public-Private Partnership (PPP) model, involve facilities in Bekoko, near Douala, for 350 MW, and within Douala itself for 150 MW. According to Cameroon’s Ministry of Water and Energy, both plants are technically ready to proceed, but their implementation remains conditional upon the National Hydrocarbons Corporation (SNH) confirming the availability of natural gas at the selected sites. No precise official timeline regarding construction or completion dates has yet been provided.

Bekoko project

The planned thermal power plant in Bekoko, with an installed capacity of 350 MW, represents the primary project among the two new energy facilities. The Turkish company Aksa Enerji Üretim A.Ş. has officially expressed interest in this project and has already conducted the mandatory preliminary Environmental and Social Impact Assessment (ESIA) studies. To secure natural gas supply, a preliminary, non-binding agreement has been established between Aksa Enerji Üretim and Gaz du Cameroun, a local subsidiary of Victoria Oil & Gas, a British company involved in natural gas operations in Cameroon. However, the definitive financial terms of this public-private partnership have not yet been made public.

Douala project

The second thermal power plant, with a smaller planned capacity of 150 MW, will be located directly in the city of Douala, the country’s major economic hub. Unlike the Bekoko project, details concerning potential private partners, planned investment amounts, or specific financing modalities for this project currently remain confidential. As with Bekoko, natural gas availability for this facility will also be assured by the SNH, an essential condition emphasized by the Cameroonian government to ensure the project’s economic viability.

Cameroon to Build Two New Gas Power Plants, Adding 500 MW to Grid

(Business in Cameroon) - Cameroon plans to construct two new gas-fired power plants with a combined capacity of 500 megawatts (MW) to strengthen its electricity supply. Minister of Water and Energy Gaston Eloundou Essomba announced the projects on February 26 during an economic forum in Yaoundé.

The plants will be located in Bekoko (350 MW), near Douala, and in Douala itself (150 MW). Both facilities will be developed through public-private partnerships (PPP), though the government has not yet disclosed the private investors involved. “The projects are already in place. We are only waiting for confirmation from the National Hydrocarbons Corporation (SNH) on gas availability at the designated sites,” Essomba stated.

The new power plants are expected to increase the share of gas in Cameroon’s energy mix to 10% by 2035. Industry projections suggest this figure could rise even further. In 2019, Adolphe Moudiki, Managing Director of SNH, estimated that gas could account for between 20% and 30% of the country’s electricity supply in the future.

Currently, Cameroon operates only one major gas power plant, a 216 MW facility in Kribi, which plays a key role in stabilizing the national grid when hydropower production fluctuates. The Kribi plant is managed by Kribi Power Development Company (KPDC), a joint venture between the Cameroonian government and British energy firm Globeleq.

Plans to expand the Kribi plant’s capacity from 216 MW to 330 MW have been under discussion since 2016, but the project has yet to materialize. The African Development Bank (AfDB) had expressed interest in providing CFA15 billion of the estimated CFA65 billion needed for the expansion, but no progress has been made.

With growing electricity demand and frequent power shortages, the government hopes that these new gas plants will provide a more stable energy supply and reduce dependence on hydropower.

https://www.businessincameroon.com/energy/1103-14518-cameroon-to-build-two-new-gas-power-plants-adding-500-mw-to-grid

Admin report out today.

Admin period extended to Feb 2027. Asset sales taking place

Not sure but whatevers left if amything is, it will be swallowed up with admin fees they never lose like we do

Thanks for sharing the info, Cassius, but what does it mean for us retail investors, if anything?

Https://www.ca5.uscourts.gov/opinions/pub/23/23-20583-CV0.pdf

Hxxps://www.ca5.uscourts.gov/opinions/pub/23/23-20583-CV0.pdf

24 Sep 2024 Administrator's progress report

https://find-and-update.company-information.service.gov.uk/company/05139892/filing-history/MzQzNjU1NjU5M2FkaXF6a2N4/document?format=pdf&download=0

Today's latest administrator update confirms CVA plan dead in the water, so all about the success or not of asset sales now.

Thanks Kever, still have fingers crossed here - but goes against the email apparently sent to Cassius40?

The next progress report will be published on the portal by no later than 19 September 2024.

The Administrators have been exploring a possible exit from Administration via a CVA, but we have not yet made any formal Proposal. For more information in relation to a potential CVA, please see progress report Section 4 “Assets”.

Here the link to SIA Group where the asset sales are mentioned.

[LINK REMOVED]

Dear Sir/Madam,

SIA Group is pleased to present the unique opportunity to acquire the rights to the proceeds of a potential legal claim against the Republic of Kazakhstan from a UK-based entity (the “Claimant”).

The Claimant is pursuing a denial of justice claim, following the invalidation of the Claimant’s effective acquisition of an exploitation license relating to an oil and gas field by the judiciary of Kazakhstan.

Please find a copy of the Project Phoenix Opportunity Teaser providing a high-level overview of this opportunity attached, along with a Non-Disclosure Agreement (NDA) – once signed, we can provide further information, including access to a virtual data room.

Deadlines

All expressions of interest should be registered by no later than Monday 19 August 2024 at 12pm (BST).

Final offers must be submitted by Tuesday 27 August 2024 at 12pm (BST).

Please let me know if you have any further questions – we are available to discuss the opportunity in further detail and provide any additional information you may require.

Kind regards,

Emre

Emre Turan

Intellectual Property Manager

SIA Group | Asset Ingenuity

Dear Sir/Madam,

SIA Group is excited to present Project Borealis, a unique investment opportunity in Russia’s oil and gas sector. This opportunity is an excellent prospect for strategic investors seeking to capitalise on the strong historic performance and significant potential of oil and gas-related assets in the region.

Please find a copy of the Project Borealis Opportunity Teaser providing a high-level overview of this opportunity attached, along with a Non-Disclosure Agreement (NDA) – once signed, we can provide further information, including access to a virtual data room.

Please note that any sale must be compliant with the provisions contained within the Sanctions & Anti-Money Laundering Act 2018 (SAMLA), along with any other relevant legislation.

Deadlines

All expressions of interest should be registered by no later than Monday 19 August 2024 at 12pm (BST).

Final offers must be submitted by Wednesday 28 August 2024 at 12pm (BST).

Please let me know if you have any further questions – we are available to discuss the opportunity in further detail and provide any additional information you may require.

Kind regards,

Emre

Emre Turan

Intellectual Property Manager

SIA Group | Asset Ingenuity

Dear Sir/Madam,

SIA Group is excited to present Project Atlas, a unique investment opportunity in Cameroon’s burgeoning natural gas industry. This acquisition represents a prospect for strategic investors seeking to capitalise on the rapid growth and substantial potential of the natural gas sector in the region.

Please find a copy of the Project Atlas Opportunity Teaser providing a high-level overview of this opportunity attached,

I maybe presuming by that , that there is no official update as yet then

But latest update on there is from March...?

Folliw this link daily for updates from Admin

https://find-and-update.company-information.service.gov.uk/company/05139892/filing-history

Hi Kever, have you heard any more? I got some comms from the administrators before but nothing recently... Thanks

Crossed

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.

Thanks for the info. Yes, important to clarify that VOG is in "trading administration" which does not necessarily mean that all is lost (though I am not banking on getting any of my investment back). Let's see.

In recent days a creditor of VOG has forced the company into liquidation. This creditor was none other than Cameroon Holdings Ltd who Mr Foo is a shareholder in. This action by CHL came out of the blue. We will all be getting a letter off the administrators soon. They are https://babr.co.uk/ Meanwhile gas flows and GDC carries on as normal. All VOG Directors now don't control the company. Any questions email: kristine.lapa@babr.co.uk

Also give Mr Foo a call and email him.

His number is 07768238847
kevinafoo@gmail.com

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