Malcy9 May 2019 15:35
Victoria Oil & Gas
I will update more on VOG tomorrow, this blog is already late thanks to rubbish internet on a railway but wanted to comment on the Q1 update.
The update shows gross production up 127% to 10.1mmscfd in the quarter with ENEO making 5.5mmscfd of that. The company signed two new clients that both took thermal and industrial power which is a good way of reducing the reliance on ENEO.
The Weatherford dispute is still in dispute but VOG are working to complete the matter. With Roger Kennedy now Executive Chairman and added to by two more highly experienced non-execs, the balance sheet strengthened by tge £13.6m raise and a doubling in revenues VOG looks in good shape, recent history has meant that the shares remain a bit in the doldrums but the upside now is there for all to see.
For the “mockers” etc, perhaps look in the mirror, time your investments, and make a bit of cash. I have been open here on my position, for years, along with many others, - so forget the sour grapes, and get a better grip on your strategy