Member Info for NOVECKINGOOD

On the Thomas Cook website from the Grim Share Reaper Jed Clueless Clampit.
The irony will be lost on him no doubt. Hopefully they stay in business until this evening I’m flying with them at 5..

So come on some of you posters, just why are you here.
If you were a holder of these why would you keep up your negative posting, you wouldn't so your not already invested. But looking to get in lower.
Many of you have already said whatever we say on here doesn't change the sp up or down, so why do it.
So many of you must have lost money big time in other stocks and just cannot take it any more and so rubbish everything.
SO if it is as many say to stop others losing money , why would you care.
Many I guess just get a kick out of trying to make others unhappy.
But you can bet your life that once tcg starts to move back up to say 50p+ we will not here a sound from you again and you will troll off onto another share that you don't own.

I was wondering where you had gone - I was actually worried.

Why the ban ??

How's it looking over at Thomas Cook Jed ?

Tried to help you with DEB and TCG but you're too focused on trolling on here to be able to see the wood for the trees on the shares that you do own..

If you don't buy any VOG they may have a better chance of turning things around - just saying

Your £1000 commitment to this is very worthy.

As the capital holiday on the c$20 million is just about to finish and VOG aren't getting enough income to pay their bills let alone amortise the debt - do you think he might give VOG the c$5 million a year now needed over the next 4 years to sort this hurdle out too ?

They obviously cant afford to be losing more money with a huge increasing debt pile that needs to be serviced.

The lack of positivity on the numbers for the airline purchase is a red flag too.

Not looking good at all !!

They can't - ENEO have them over a barrel and they know it. If they cut the supply they will be shut down within weeks - too much expenditure/not enough income and the debt would likely be called in. Speaking of which any news on the renegotiations on the debt. They don't seem to update on important stuff just regurgitate the same old boll0x "one day Rodders we'll all be millionaires"

I have no clue whether any of this has been created to gain some sort of advantage or whether it's just corruption and ineptitude. Maybe ENEO are fundamentally honest but they just see an opportunity to profit from people who don't know what they're doing and are too desperate to spin out news about re-supply - without getting their ducks lined up first.

Someone knows something.

Big sells coming in - I don't see the debate going on for too much longer.

The BOD will have to convince shareholders that they're on top of this or it's going down the pan.

When I say convince I mean CONVINCE not spin..

The placing definitely wasn't cheap - they were trying to hold the price up for weeks to get it away within 10% or so of the agreed price. This issue has legs but hopefully those that have spaffed another several million will have more of an axe to grind to fight it.

Unless someone on here wants to put the effort in ?!

I've known for years which is why it took me so long to buy ANY shares.

I thought once ENEO came back on board, providing VOG didn't then continue to spend more money that they haven't got on developing product that they cant sell then they were worth a punt.

The odds are totally stacked against a reasoned strategic investment though as the new lot seem just as IFFY.

Dik on $700k - that's bordering on criminal if it's true.

On what basis, until this company start to play with a straight bat (just for once) it's not an investment it's a pure punt.

fanfares and celebrations about giving some gas to ENEO and then not telling your long suffering shareholders for 4 months that they're not paying for it.

A new level of disgraceful from a company that seems totally devoid of any moral compass....

Not being pedantic but it doesn't say ALL gas consumed in 2019 just "gas consumed in 2019"

How did they get the placing away AND not have to issue an RNS before now if they weren't being paid by their biggest customer ? I held shares during this time, I care why doesn't anyone else - is it because this sort of thing is accepted because it's the VOG way of doing business ?

What are you implying, there is a massive difference between the concept of stopping payments on a certain day and just not paying when invoiced ?!

Especially from regulatory perspective - so what do you know ??

I'm reading things differently than most on here and ADVFN regarding the RNS.

Total sales equate to give or take $2m a month, half of this is being consumed by ENEO who therefore (owing $3.6million) haven't paid anything or at best very little for the gas since the big announcement on the 24/12/18.

Stopping the royalty payments whilst being strategically prudent will only work if it's legally binding - it smacks more of desperation than a front foot approach to getting things sorted - why didn't they announce it as part of the funding ?????

No news on Debt restructuring no more money being spent on stuck guns or matanda - just plans.

I've just sold my last £10k (£43 loss so no reason to apart from perception of bigger problems) and won't buy back until as a minimum ENEO start paying for their gas...

Definitely not a buy Bigsmoke - sadly

Not being paid by the main user, being chased for money by others and stopping an agreement that’s probably legally binding doesn’t sound particularly positive.

The devil is in the detail not the headline optimism.

Invoicing or making - big difference

Agree Naks, not the most upbeat update.

Absolutely no point getting the stuck gun and developing Matanda if you can’t sell what you’ve got and what you are selling you aren’t being paid for.

Good use of $700k per annum for Dick though..

The net proceeds of the Fundraising will enable the Company to:

· maintain and expand its existing operations in Cameroon, with a focus on securing new customers and increasing revenue;
· complete Well LA 108 at Logbaba and fund the ongoing planning of the Matanda project, a key focus for the Company;
· continue to implement its cost reduction programme in both the London and Cameroon operations; and
· fund its working capital requirements.

Board Changes
Kevin Foo stepped down as Director and Executive Chairman at the conclusion of the General Meeting. Roger Kennedy, formerly Senior Independent Director, has assumed the role of Executive Chairman. The Company was pleased to announce the appointment of two Independent Non-Executive Directors to the Board: John Knight, appointed Senior Independent Director, and John Daniel, both of whom bring a wealth of experience and expertise to strengthen the Board.

Logbaba - Quarterly Production Update
The Q1 19 gross and net gas and condensate sales at Logbaba for Gaz du Cameroun S.A., ("GDC"), are as follows:

Amounts in bold are gas and condensate sales attributable to GDC (57%):


Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Gas sales (mmscf)





Thermal
211
370
200
352
194
341
174
305
179
313
Industrial power
14
25
15
27
9
15
9
15
10
17
Grid power
290
508
15
25
0
0
0
0
0
0
Total (mmscf)
515
903
230
404
203
356
183
320
189
330
Average gas production (mmscfd)
10.10
4.45
3.72
3.30
3.50
Condensate sold (bbl.)
3,825
6,710
2,701
4,738
2,298
4,032
1,657
2,907
1,654
2,900

The material increase in consumption (173% increase on Q1 18) is as a result of ENEO resuming gas consumption at the end of December 2018. Thermal customer consumption increased 5% quarter on quarter (18% on Q1 18).

Industrial Customer Updates
Gas Sales Agreements have been signed with two new customers during the quarter, each with thermal and industrial power requirements. Commissioning of these customers is anticipated in Q4 19, and mid 2020 respectively.


Grid Power Update
ENEO have consistently consumed gas from GDC in excess of 5.5mmscf/d, which is above the contracted consumption volume. The parties are currently operating on a signed binding Term Sheet and are working together to finalise a Fully Termed Agreement, which includes the provision of an appropriate bank guarantee. The invoices for gas consumed in 2019, totaling approximately $3.6 million (net), remain outstanding. Management expect payment shortly and is actively engaging with both ENEO and the Government to resolve this.

Trade Indebtedness
The Company has settled with a large creditor from its last drilling program and now trades with its creditors within trading terms. GDC has received a statutory demand in the BVI from Weatherford Services and Rental Ltd ("Weatherford") for payment of invoices relating to various services provided by Weathe

RNS Victoria Oil & Gas PLC - VOG
Q1 2019 Operations Update
Released 07:00 09-May-2019

RNS Number : 4551Y
Victoria Oil & Gas PLC
09 May 2019



9 May 2019
Victoria Oil & Gas Plc
("VOG" or "the Company" or "the Group")

Q1 2019 Operations Update

Victoria Oil & Gas Plc, owner of Gaz du Cameroun S.A. ("GDC"), the Cameroon based gas and condensate producer and distributor, provides an update on the Group's operations for the three months ended 31 March 2019 ("Q1 19" or "the Quarter").

Highlights:
· Overall Q1 19 average gas production rate increased by 127% during the period to 10.10mmscfd (Q4 18: 4.45mmscfd), driven by the resumption of the contract with ENEO
· ENEO gas consumption consistently over 5.5mmscfd during the Quarter having recommenced on 22 December 2018
· Peak rate of 12.85mmscfd reached in Q1 19
· Q1 19 gross gas sales of 903.2mmscf (Q4 18: 403.8mmscf)
· 2 new customer gas sales agreements signed
· International Organization for Standardization compliance ("ISO") 9001, 14001 & 45001 audits successfully completed, emphasising the Company's commitment to international standards in its management systems

Post Period End:
· Completion of £13.57 million (gross) fundraise to strengthen the Company's financial position and provide a stable growth platform for the business
· Completion of Board Changes:
· Kevin Foo stepped down as Director and Executive Chairman
· Roger Kennedy assumed the role of Executive Chairman.
· Appointment of John Daniel and John Knight as Independent Non-Executive Directors

Roger Kennedy, Executive Chairman of VOG commented:
"The past month has marked a positive new beginning for VOG, as the business restored a stable platform for future growth through the delivery of a strong set of Q1 19 production figures, in addition to the post period end completion of the fundraising and the reshaping of the Board.

VOG is in a much improved financial and operational position. As the only onshore gas supplier and operator of a gas pipeline network, we are well placed to take advantage of the increasing gas demand in Douala, Cameroon.

As a management team, we are confident about the future of this business, and are firmly focused on the development, diversification and expansion of our operations and customer base in Cameroon."

Corporate Update
On 7 March 2019, the Company announced that it had conditionally raised £13.57 million (gross), with new and existing shareholders, comprising a Placing of 59,357,488 New Ordinary Shares and a Subscription of 45,000,000 New Ordinary Shares, with 270,000 Fee Shares issued in connection with the Fundraising. The issue of the New Ordinary Shares was conditional upon, inter alia, the passing of the Resolution at the General Meeting held on 3 April 2019, which was duly passed.

The net proceeds of the Fundraising will enable the Company to:

· maintain and expand its existing