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STOCK MARKET WATCHLIST: Is the well running dry as energy firm seeks capital?

The rumour swirling in the City is that AIM-listed gas producer Victoria Oil & Gas is on the hunt for more funds.

The word on the street is that the company – which operates as Gaz du Cameroun in the Francophone West African state of Cameroon – has been tapping up shareholders for a new share placing to raise cash.

All of this might not come as too much of a surprise to those who monitor the company’s activities.

The firm is known to have a large following of private investors.

Victoria Oil & Gas warned at the end of September that it was keeping a close eye on cash levels, which stood at just $3.2 million (£2.4 million) at the end of June, after burning through $3.8 million in six months. It seems the well has at last run dry.

The shares have been on the slide in 2019, leaving it with a market value of just over £20 million.

Even an update on its increasing gas production levels last week failed to lift the share price.

A spokesman for the company, which is led by Kevin Foo, said it did not comment on ‘market speculation regarding capital raisings’.

STOCK MARKET WATCHLIST: Is the well running dry as energy firm seeks capital?

The rumour swirling in the City is that AIM-listed gas producer Victoria Oil & Gas is on the hunt for more funds.

The word on the street is that the company – which operates as Gaz du Cameroun in the Francophone West African state of Cameroon – has been tapping up shareholders for a new share placing to raise cash.

All of this might not come as too much of a surprise to those who monitor the company’s activities.

The firm is known to have a large following of private investors.

Victoria Oil & Gas warned at the end of September that it was keeping a close eye on cash levels, which stood at just $3.2 million (£2.4 million) at the end of June, after burning through $3.8 million in six months. It seems the well has at last run dry.

The shares have been on the slide in 2019, leaving it with a market value of just over £20 million.

Even an update on its increasing gas production levels last week failed to lift the share price.

A spokesman for the company, which is led by Kevin Foo, said it did not comment on ‘market speculation regarding capital raisings’.

https://www.dailymail.co.uk/money/markets/article-6635895/STOCK-MARKET-WATCHLIST-running-dry-energy-firm-seeks-capital.html

found it:
https://www.dailymail.co.uk/money/markets/article-6635895/STOCK-MARKET-WATCHLIST-running-dry-energy-firm-seeks-capital.html

Where's the link to the source you quote?

https://oilprice.com/Energy/Energy-General/BP-Remains-Bullish-On-Oil-Demand-Growth.html

https://oilprice.com/Energy/Energy-General/The-7-Factors-Driving-Oil-Prices-In-2019.html

Russia-Saudi alliance abandons assault on US shale as oil supply crunch looms

https://www.telegraph.co.uk/business/2019/01/25/russia-saudi-alliance-reaches-truce-us-shale-oil-supply-crunch/?WT.mc_id=tmgliveapp_androidshare_Ar5vlnbc8lWS

with all respect, why would the Chinese be interested in a poxy stranded gas utility when they are gaining political capital and UN votes via the hydro projects? if anywhere else perhaps this could be the visa qualifying pet project for a child of the nouveau riche. But in civil war torn Cameroon, i think not. They even had a footie comp. pulled from them. Give the Chinese more credit.

sitting. duck.

there is no litigation war chest

good point . human rights action ongoing??

of all the things they DO NOT RNS, but they release this....?

And it was only a few weeks ago I suggested moving out of the Big Smoke to save money.

Goodness

and i suffered abuse for suggesting 15p this week.

chunky post close buy

this board has woodworm.

well said, naks.

Share Price: 16.65
Bid: 15.90
Ask: 17.40
Change: -0.10 (-0.60%)

"apparently we should be grateful for that".

'nuff said.