Member Info for oldtimer

Will soon be down to the 28p open offer , or less !!!!!!

I think that's why the company has been brought to it's knees over the last few years. I can see trouble ahead now. maybe the open offer will not go ahead if they cannot count on CW rent reductions etc.

Lost me after the first 5 lines, all I want to know is are we better off now or worse? Simple.

But now they are probably going to say they achieved the reserves growth target. !!!!! and that's why it just been released before the agm

So we have a gas up-date which that all looks great, so is this the reason we haven't been signing up new customers because we didn't know how much gas we had. Or have we been waiting for this result so we can now sell off GDC with all it's reserves.??????? But I guess the real question is will it do anything for the sp.?

I am and just gone straight on to my account via my computer which seems to be ok, I don't use my phone though. So maybe it's just related to phone log on's. Sorry I cannot help any more than that.

So it's a go then to raise approx �28m in this open offer at 19p, so is that another 147m shares to issue. I think that will mean the sp will fall to about 19p , so what's the point in buying any shares until after or on the day at 19p.

It sounds to me like you are trying fear tactics now, the sp has if anything got stronger over the last few months and with some hedge funds building their stakes I think this could go to �1.50 again.

Wow look at the big buys after hrs today, some 1017000 208,000 386,000 plus 4m buys to end the day. Now something must start to happen.

Yes this sp p**** me off, we now seem to be happy of the thought of it going above 40p, well this was under valued when we had the rights at 50p years ago and still cannot get get back above that. The company is in a much better state now than it was but the city and the market just DO NOT trust the management. should be 65p + by now.

Yes they have to ,until they get below 3% as I understand it.

Looks like those shares were bought on 23 rd & 25/6th April, so that's taken a month to be announced. Who sold?

So that 5% is about 42m shares,I don't think there has been that many shares traded/ bought over the last few days so that must mean they have bought them off someone else, I wonder who has been selling their stake? Unless they have had a broker buying up all the sold stock behind closed doors.

What have we got to lose by trying to get some action going, we either sit on our buts and see our money drain away while the bod's get rich or we try to put them under pressure and force them to give more info.

Yes great to see a new institution buying 5%, someone has faith and shows they could know more than us. Must be running short of stock now with what 3 or 4 major holders all trying to build a stake, sp must start to rise very soon.

Thank you for your email. As Hargreaves Lansdown is a nominee service, we hold shares on behalf of our investors. As such the holding of 5% you are referring to, is more than likely held by multiple investors held in the name of Hargreaves Lansdown Nominees Ltd. I am afraid we do not get involved in any personal shareholder disputes and as such you would need to contact individual shareholders to form a shareholder action group. Although we do have an extensive list of individual investors who hold the Victoria Oil & Gas stock on our platform, I am afraid due to security reasons we are unable to disclose this list. I am sorry I cannot be more of assistance to you. If you have any further queries, please view our Help and Support centre or contact us on 0117 900 9000.

"Successful completion of the well drilling programme on Logbaba" How do you define successful completion of the well drilling programme on Logbaba? Is spending way over the amount predicted by the Board prior to the commencement of drilling not relevant in deciding if the drill was successful or not? Per the RNS of 20th December 2017 the Board stated: "This work will also recover a spent perforating gun which currently remains stuck in the well" Does a perforating gun being stuck in the well mean the drilling was successful? Page 40 of the year ended 31st December 2016 accounts states: The performance targets for the year ending 31 December 2017 include the following: Relative Total Shareholder Return performance relative to the AIM All Share Oil and Gas index Extension of the ENEO gas sales agreement Reserves growth targets Successful completion of the well drilling programme on Logbaba Agree and initiate development plans for Bomono and Matanda Management of capital funding for required activities The annual bonus plan does not contain any claw back provisions Only one of the targets effects the profitability of the Company in the short term and that is the Extension of the ENEO gas sales agreement and it has not been extended. It will be interesting to see what bonuses are going to be included in the year ended December 2017 accounts considering that the Company has yet to become profitable! A key metric for shareholders is positive Earnings per Share and so far they have only been negative. I think our group should be paying closer attention to the targets that the Remuneration Committee are setting as they need to be aligned to profitability. Major questions regarding Power stations Do we have any intentions? Of dealing with ENEO again or are we trying to tie up a deal with another third party regarding the power gas supply. Questions regarding 5% Government Contract From 4th July 2017 RNS SNH is entitled to a 5% share of revenues from the sale of all hydrocarbons from the Project and is also liable for 5% of exploitation costs of the Project. The parties have agreed, in accordance with the Participation Agreement, for SNH to conduct an audit of the exploitation costs for the Project to determine the Participation settlement. Not sure what exploitation costs relate to? Has that work been carried out and what money/ costs is the government liable to and has that been paid to vog?

Questions for Victoria oil and Gas Compressed natural gas (�CNG�) I refer you to the year ended 31 May 2014 accounts as on page 1 it stated the following: Compressed natural gas (�CNG�) We are currently evaluating a CNG project where CNG is transported by road tanker from a compressor station to customers without the capital-intensive requirement of a pipeline. CNG enables gas to be sold economically to businesses via a �virtual pipeline� within a 200km radius of the operations. It is now May 2018 so 4 years have passed by and the Board have earned a shed load of money and they have to date failed to explain what has stopped them from making progress on CNG! Major questions regarding New customers Over the years the board of directors has continually said there was many many customers just waiting to be connected to gas, and yet many customers still do not want to take up the gas supply. Why is that? Perhaps the Board can inform the shareholders what we need to do as a company to secure these contracts for gas usage. Major questions regarding Savannah, Why was Savannah drilling company chosen to drill our last 2 wells without the experience needed to do the job within budget and time. How likely are we to get a good outcome and money back in our Insurance claim? Directors Remuneration and bonuses The Remuneration have only set one target that would lead to profitability in the short term and that is the renewal of the ENEO contract and yet with the Boards many years of experience, knowledge and contacts they have failed to do so. The board will argue that the renewal is outside of their control but that is irrelevant as their remuneration should be linked to results whether they have control over them or not in the same way that the shareholders are affected by the share price going down. Although the other targets are commendable they are not worthy of bonuses being paid because the Directors have failed to generate positive earnings per share and they have also failed to improve the share price. One can understand that the transition from a Gas Company from being a gas explorer to a gas utility Company is going to take quite to generate profits but this transition has taken far too long. One could forgive them if the Company was yet to become profitable if it was compensated by capital appreciation via the share price but they have failed to do this as well. The Directors remuneration is set at a level that one would expect much greater things than they have so far managed to achieve. Shareholders are fed up with the Board keep on repeating jam tomorrow statements". Re target 1 below which is: "Relative Total Shareholder Return performance relative to the AIM All Share Oil and Gas index" I would expect this to say "Relative out performance of total shareholder return relative to the Aim All Share Oi

From 4th July 2017 RNS SNH is entitled to a 5% share of revenues from the sale of all hydrocarbons from the Project and is also liable for 5% of exploitation costs of the Project. The parties have agreed, in accordance with the Participation Agreement, for SNH to conduct an audit of the exploitation costs for the Project to determine the Participation settlement. Not sure what exploitation costs relate to? So has that work been carried out, how much is the Cam / Gov liable for and has that money been paid to vog?

I have already emailed 3 of the major shareholders with approx 15% , asking them to help and join an action group but who knows if I will get any replies for help.