Member Info for maisydaisy

OK - so another option. Assuming VOG carry on trading then CHL take a stake then in likely the Doula gas plant etc and perhaps Matanda etc. I assume that VOGs 'tipping point' of carrying debt (from screwed up operations since the start of the company - Kem, West Med, drilling etc) is not actually that large, so hope that CHL or whoever it is will bring some cash to the table in lieu of a share in the company. VOGs issue has been cash flow - never quite enough to service the debts in place. Can this be reconciled? Still assuming a write off, but fingers crossed.

Morning. Hoping that there are options perhaps. Interested that CHL will be at the meeting since they perhaps tipped the balance for VOG to enter administration. Wonder if assets can be wholly or part sold to fund the bulk/all of any debt repayment and if there is a surplus as Kever suggests that VOG take on Matanda with enough cash in hand to do the job. Basically become an explo co. What is Maranda valued at - nothing? something? Hoping that there is some form of positive outcome for the browbeaten shareholders!! GLA.

Thanks for the detail K. So screwed by dodgy accounting on the RSM split, a payoff and now a hungry creditor. Hollywood blockbuster somewhere there.

There maybe life after administration with improvements etc being made...but can't believe dear old VOG based on history to date will be the lucky one.

Dreadful. Couldn't even tell us shareholders. Checked company house and administrators appointed. A real shame. Run into the ground through a series of bad decisions, from Siberia, kazak and finally cam not paying the bills.

Afternoon. Believe that since VOG is still trading albeit effectively privately that there is no loss to claim.

Shares were suspended back in early April last year. Not too far off a year ago. What have VOG been living on - cash?scrapping by and assume close to profit/in profit ?Cut overheads? Delisting has stopped any cash raise by share issue and borrowing too. RSM assume not applying any pressure as yet. Just wonder what the state of play is!!

Home page of VOGs website - glad to see !

VOG (or “the Company”) has been cancelled and delisted from the AIM stock exchange effective 16 December 2022 as a result of its failure to reach a settlement agreement in an acceptable timeframe with RSM Production Corporation (“RSM”). The Company will maintain its website and will use this medium to keep stakeholders informed in due course. We would encourage you to sign up to email alerts

No expert in this, but todays RNS is not by VOG but AIM cancellation VOGs admission to AIM due to lengthy suspension. If VOG had ceased trading then assume shareholders would be informed, and yes, VOG can reapply for a listing when capable. Bigger question is perhaps is the delay good or bad? Means I assume VOG and RSM and any other parties still in dialogue but also that VOG have I assume no means to raise money in any shape or form.

Believe this is AIM protocol and does not mean VOG have ceased trading. Effectively VOG is now a privately owned company ...by us the shareholders.

It was a shame that if we're unable to prove any reserves in matanda. Cast iron bargaining chip. That said RSM own none of it, and if I were them I would not want to be only involved in logbaba with a rival gas source nearby. Makes sense for them to take a stake imho. Entinde seems a long way off, and any local power contracts impossible given current economic situation on the funding side , the inadequacies of the supply grid - let alone any repayments being made. If matanda can produce LNG of which cam are already exporters of, then a win win for vog, RSM, cam gov and beleaguered European etc power supply. That's what I'm hoping! What could possibly go wrong....

Not so sure on that - VOG initmated a 'term sheet' was being worked on, and this I have no doubt will be going to and fro until agreed. If RSM said we want the cash now, then I suspect we would have been informed and would be all very unhappy. All supposition as usual!!

May be we are not 'angry' (a pointless exercise) since there is yet to be a demise of VOG confirmed. Hence nothing accepted until confirmed by the directors of the - our - company - the last RNs intimating they are hoping for a 'term sheet' with RSM to be agreed and then hopefully can move on. The phone line works by the way - just goes to answer machine - so VOG still paying the bill, and I assume and not wanting to talk to 'angry' shareholders perhaps.

From BLVN results today - FLNG is being done it looks like near to Matanda. Perenco may be intersted ....don't hold your breath!

"It has been a year of progress and we continue to focus on maximising the economic return to our shareholders. The most significant event to update on is New Age's ongoing transaction to sell its operatorship and share in Etinde development project to Perenco.

Perenco has a formidable operating history in Cameroon with oil and gas productions of 85,000 boepd (51,000 barrels per day and 24 million m3 of gas per day) mostly from the Rio del Rey basis (to the north of Etinde) and at the Sanaga Sud field complex near Kribi. Here Perenco, in conjunction with SNH and Golar operates the very successful FLNG gas export business using the Hilli Episeyo vessel.

At the January 2022 TCM held with SNH, the JO partners formally told SNH that the partnership had reached the decision that the Equatorial Guinea development had been selected as the development basis for Etinde. After extensive study, the conclusion was that this was the only economically and commercially viable development option for that JO partnership group. With the accession of Perenco, other additional options may now become feasible to study.

As we move into 2023, we will work with our JO partners on both commercial and financial matters in relation to the Etinde development options and to further progress towards FID."

Anything could happen from cessation of trading so full share loss, selling off all assets and possibly a small residual for shareholders to say RSM writing debt off for say 25% share in Matanda or larger take from Logbaba or both. If the Roy-K alluded to 'term sheet' can be carried through, then in theory VOG share price may well rise - last (?) skeleton sorted out. Suspect VOG will need to cap raise come what may to cover litigation etc costs and prove up and monetise Matanda I hope and then could go from strength to strength. The delisting just means co. no longer listed on AIM - all else, so day to day gas sales are still ongoing. In basic terms, sort out RSM debt hopefully and prove up a monetizable asset to sell outside Cam.

This came out last night 5.30pm - not sure if this is AIM or if Russell index is a differing animal. Any deletion seems perhaps not too important in that VOG need RSM 'term sheet' agreement to settle the arbi, then relist and then I would assume raise cash to assist/trade and I hope dig in Matanda to prove assts and move to a better JV proposition etc.
27 October 2022.


Further to the notice released on 29 September 2022 , the following companies have been suspended
40 business days without indication of resumption. In accordance with the Suspension of Dealing
rule, they will be removed from the FTSE Russell indexes for the open of 01 November 2022
at nominal value (0.0001).

-- Fox Marble Holdings (B7LGG30, FTSE AIM All-Share Index)
-- Revolution Beauty Group PLC (BP7L1T6, FTSE AIM UK 50 Index, FTSE AIM 100 Index, FTSE
AIM All-Share Index) - please note, this company was intended to be removed from the fixed
indices at the September review but was retained due to its suspension, consequently it will
not
be replaced.
-- Victoria Oil & Gas (BRWR375, FTSE AIM All-Share Index)
-- Windar Photonics (BTFR4F1, FTSE AIM All-Share Index)

Prob fixed rate tariffs on existing pipeline and yes, why not get some of the heavy fuel oil business unless too costly (and if you haven't any cash down the sofa back) to extend and hook up to the pipeline itself?? £ v $ should have boosted cashflow etc too.

RSM and VOG still talking and a 'term sheet' to reconcile the ICC arbi MAY be lurking. So, if done then share hopefully unsuspended and VOG can raise cash somehow. Placing no doubt, albeit better then the alternative imho. This then I hope takes us back to Matanda and can VOG monetise this asset?? - so far they put in an access road etc and no drilling etc I believe. Can't see how positive cashflow can be maintained without another income stream that is ideally not waiting for the vagaries of Cams energy problems.

And another potentially large ICC dispute, again 'unmerited'....so was RSMs claimed I believe. Final nail with that one

Dealing with RSM will not improve cashflow and unproven assets at matanda of no help with JV, assets to back debt. So no tangible improvements since suspension as far as I can see. Not a RNS that gives any real plan of hope. So just a waiting game.

Not so sure I have a problem with delisting (not ideal I know) - as long as we then at some point relist. The co.is owned by shareholders and a couple of firms (Hadron etc) I believe own c.40% and have loans in place (repayment was waived at present). They are investment vehicles and thus profit and liquidity is a prime need. They also have conversion options. VOG need to be listed to raise money in future (all O&Gs do this!!) via placings etc. So, can't see any rationale in being privately owned - by the shareholders still. Only way to relist is via trading clarity - RSM repayment /agreement of some sort which takes us back to either explo at Matanda (not a clue as yet) ,alternative funding/JV at Matanda/giving RSM more of Logbaba etc. imho these are the key variables to VOGs survival. Suspect any 'info' RNS may well be 'we are in discussions etc' sadly.