Member Info for Scotty77

I can remember one of my previous aim stocks ever reaching their brokers target prices. They always seem like a complete waste of time.

is the SP was dragged down last week on tiny volume and today we might see a small rise (if we are lucky) bringing it back to 6p. Any other aim company with jam tomorrow RNS would see a 25% rise.. with this kind of news.

it feels like a divi or buyout is the only way we are going to make some money here.. its just not a sexy stock. I dont think its a management issue either. I initially feel management could be doing a better job getting the company known and publicised but in his defense Toby does seem to attend investor events, opening bell at the stock exchange with alibaba management in tow etc.. not sure what else he is supposed to be doing ?

sound like you have some issues to work out with yourself. You sound like a closest porn addict who is so disgusted with himself he cant face it and justifies his depravity by posting in a chat room about how bad a dirty domain name is and how somehow there is karma at play.. What a nutter

sound like you have some issues to work out with yourself. You sound like a closest porn addict who is so disgusted with himself he cant face it and justifies his depravity by posting in a chat room about how bad a dirty domain name is and how somehow there is calmer at play.. What a nutter

If there is nothing in the offing they will drag it out as long as possible to keep getting paid until the money dwindles to nothing. I dont know how licenses are issued but maybe then we will see BPC close up shop and that major come along and take over the licences... any potential suitor has to be looking at why BPC need to be in the mix if they dont have long before the license come up. Again I don't know how these licenses are regulated and issued but if a major sees potential and offers enough money why would the Bahamian gov re-issue to BPC..

Apologies I am late to this and trying to get the basics. Is he not saying because they are still in talks or simply desperately trying to find a way forwards and they know if they say that it is all over.

Im also struggling to find the latest position on the licences ? The last ive found was an extension to April 2018 but assume this is not the case given the company is still going ?

is not knowing why the major pulled out. If their due diligence proved it was not a viable option it must be pretty safe to assume that other potentials will conclude the same ? I assume we have zero info on why the major pulled out ?

:) fair do's i will leave you be..

bobmill RNS states "· A minimum work programme obligation of one exploration well plus seismic reprocessing to be completed in the first 2 years"

it reads to me this needs to be completed in 2 years.

not saying they need to repay the entire 20m in June but looking for other funding while only paying interest on a large existing loan isn't going going to wash when assessing risk of lending more money to VOG. So i can only see a requirement to refinance that amount plus the additional that will be needed for matanda. The 12m matanda spend is an estimate so expect that to increase and this must be complete within 2 years and the clock is running.

Im not saying its all doom and gloom as there is a chance other moneys could come to the rescue but I cant see funding without some pain thrown in.

if there were only ongoing running costs then yes no cash would be needed. But the 20m interest only loan comes up for re-negotiation in June and they now need to pay for the matanda obligation estimated at 12m.

The only way this gets paid for without a placing or farm out (that comes with other costs) is if the insurance claim for 24m pays off and or west med is sold for something significant. its a 50/50 gamble imo

"Whilst gas supply for grid power to ENEO and to others will always be a key strategy of the Group, the Board, as previously announced, is focussed on the importance on the diversification of the customer base to reduce dependence on any single customer. "

Really... 2 years to late. the rest of were thinking that two years ago while the board were walking around patting themselves on the back because they were selling so much gas to one customer and then deciding to spend 20m on another well in case that one customer wanted more... so frustrating when you think how much more stable this company could have been at this stage.

12m is the estimate for matanda and that has to be completed by end of 2020. Plus the 20m debt that is due in June. And these are figures 6 months out of date. There is a lot of money to find and unless the ins claim and or west med sale come through there is a big hole..

a couple of things that could turn the tables here very quickly but its complete 50\50 if any of them pay off. Im out having been burnt again by VOG..GLA

yes I reckon. They have no cash to pay down unless they place a huge amount of shares to pay for matanda and pay off a chunk of debt.. Either way shareholders will likely be screwed again.

now they have signed a three year deal I reckon the debt arrangement will be extended after June 2019. 12m is needed for the matanda obligation which lets face it can only come from a placing imo

looks like there maybe a daily seller off loading 50k to 60k shares a day. Once this clears we may see a steadying sp.

After so many years being out I cant believe I bought back in at 23p. Especially given the uncertainty of how they will pay for the matanda obligation. Hopefully the obligation is to simply start in 2 years so putting a shovel in the ground in late 2020 would meet the requirement. A statement saying this work will not start until 2020 once the bank balance has improved will go a long way. VOG need to stop drilling and adding pipeline on force promises of future customers. These customers need to be contracted with penalties so the company shareholders are not footing the bill. VOG have year on year mentioned the demand and not once come close to producing the max output of Logbaba so they need to reign it in and produce for actual demand not fantasy demand.

just my little rant for the day

Agreed, the "obligation of one exploration well plus seismic reprocessing" at matanda has to be paid for. VOG have history for running before they can walk at the shareholders expense. I hope we see a significant ramp up in sales otherwise we remain a one trick pony,

I'm really talking myself out of holding...

The problem now is that the new contract wont reflect in the figures until next years accounts. We will get the 2018\19 numbers in May\June that will look poor. Then an update on the 6 months from beginning of 2019 which will look positive again. The question is when will the market start pricing in the new future numbers and how much will it fall in the interim. A rising phoenix is fine but not if the levels it rises from are so low it doesn't help current price holders.

There should be some news end of Jan to confirm "The parties are committed to executing Fully Termed Agreements and providing appropriate payment guarantees by 31 January 2019." which may give the SP a little tickle.

I was expecting a steady climb back to the early 30s so once again VOG has done me as I bought in again at early 20s only to see losses within a few days.. some people never learn.

is that them reducing or just an adjustment notification of their % given the issue of additional shares ?