The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVOG.L Regulatory News (VOG)

  • There is currently no data for VOG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Annual Report and Accounts & Trading update

30 Jun 2021 07:20

RNS Number : 6174D
Victoria Oil & Gas PLC
30 June 2021
 

 

30 June 2021

Victoria Oil & Gas Plc

("VOG" or the "Company")

 

Annual Report and Accounts & Trading update

 

Victoria Oil & Gas Plc provides the following update in relation to its Annual Report and Accounts and trading position.

 

Annual Report and Accounts

Due to the impact of the COVID-19 outbreak on staff availability and interaction time with our auditors, the Company will be unable to post its annual audited accounts to shareholders for the year to 31 December 2020 ("Annual Report") by the 30 June 2021 deadline pursuant to AIM Rule 19.

 

Further to the guidance provided by AIM Regulation in "Inside AIM" on 27 January 2021, the Company requested an additional period of up to three months to publish its Annual Report. AIM Regulation has granted the extension, and therefore the Company will publish its Annual Report by 30 September 2021. However, VOG expects to publish the Annual Report well ahead of that date.

 

The Company has also applied for and been granted an extension to delay the filing of its audited annual accounts by Companies House until 30 September 2021.

 

Trading Update

 

Revenue

Gaz du Cameroun S.A.'s ("GDC") operation in Douala, Cameroon has continued to deliver natural gas to 30 or so industrial customers, supplying safely and continuously throughout 2020 and the year to date.

 

Unaudited attributable revenue for calendar year 2020 was US$13.2 million (2019: $20.8 million). The overall reduction in revenue year-on-year is due to the reversal of any revenue invoiced to ENEO in 2020. The attributable revenue in 2019 included US$8.0 million related to grid power provided to ENEO. Thermal and industrial power revenue was US$13.0 million in 2020 compared to US$12.0 million in 2019, a 8% increase year-on-year and a healthy increase considering the backdrop of Covid-19 and its effects on business. Unaudited revenue to 31 May 2021 was US$6.2 million (2020 for the same period: US$5.4 million).

 

Cash and Cash Equivalents

Unaudited cash and cash equivalents at 31 December 2020 was US$1.8 million (31 December 2019: $7.2 million). Cash as at 1 June 2021 was US$2.5 million (1 June 2020: US$5.0 million). Unaudited net debt as at 31 December 2020 was US$12.8 million (31 December 2019: US$10.7 million. The Company continues to manage its creditors and cash flow as appropriate. As announced on 18 June 2021, VOG has arranged additional finance through a loan note instrument with Meridian Capital (HK) Limited, part of which is conditional on a Rule 9 waiver being granted by The Takeover Panel and approval by independent shareholders on a poll in due course.

 

The Company will publish a comprehensive quarterly update to 30 June 2021 in July.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

For further information, please visit www.victoriaoilandgas.com or contact: 

Victoria Oil & Gas Plc

Roy Kelly Tel: +44 (0) 20 7921 8820

Kate Baldwin

 

Strand Hanson Limited (Nominated and Financial Adviser)

Rory Murphy / James Dance Tel: +44 (0) 20 7409 3494

 

Shore Capital Stockbrokers Limited (Broker)

Mark Percy / Toby Gibbs (corporate advisory) Tel: +44 (0) 20 7408 4090

Jerry Keen (corporate broking)

 

Camarco (Financial PR)

Billy Clegg Tel: +44 (0) 20 3757 4983

Nick Hennis Tel: +44 (0) 20 3781 8330

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTURANRAWUNORR
Date   Source Headline
24th Jan 20147:00 amRNSRSM Settlement and US$16.3m Received
17th Jan 20147:00 amRNSLoan and Customs bond with BGFIBank
13th Jan 20147:00 amRNSRSM Default
10th Jan 20144:40 pmRNSSecond Price Monitoring Extn
10th Jan 20144:35 pmRNSPrice Monitoring Extension
8th Jan 20147:00 amRNSCommercial Developments, Gaz du Cameroun
19th Dec 20137:00 amRNSPresidential Visit Video
13th Dec 20138:45 amRNSRestoration of Trading on AIM
13th Dec 20138:45 amRNSRestoration - Victoria Oil & Gas Plc
13th Dec 20137:00 amRNSRSM vs VOG and RDL Arbitration
12th Dec 20134:16 pmRNSICC International Court of Arbitration Award
12th Dec 20133:52 pmRNSSuspension - Victoria Oil & Gas plc
2nd Dec 20139:36 amRNSUpdate re Arbitration
27th Nov 20132:35 pmRNSResult of AGM
19th Nov 20138:22 amRNSPresidential Visit & Gas Launch
8th Nov 20137:00 amRNSAdditional Customer Online
1st Nov 20137:16 amRNSUpdate re: RSM Arbitration
25th Oct 20137:00 amRNSFinal Results
10th Oct 20137:00 amRNSTrading and Operations Update
2nd Oct 201310:45 amRNSHolding(s) in Company
1st Oct 20133:10 pmRNSShare Price Movement
30th Sep 20137:00 amRNSDirectorate Change
27th Sep 20134:40 pmRNSSecond Price Monitoring Extn
27th Sep 20134:35 pmRNSPrice Monitoring Extension
21st Aug 20134:40 pmRNSSecond Price Monitoring Extn
21st Aug 20134:35 pmRNSPrice Monitoring Extension
18th Jul 20137:00 amRNSChief Executive Officer's Letter to Shareholders
3rd Apr 201311:38 amRNSHolding(s) in Company
6th Mar 20135:46 pmRNSHolding(s) in Company
6th Mar 20139:00 amRNSHolding(s) in Company
1st Mar 20132:00 pmRNSResult of General Meeting
28th Feb 20137:00 amRNSInterim Results
27th Feb 20137:00 amRNSAppointment of Renaissance Capital
26th Feb 20133:57 pmRNSStatement: re RSM Production Corporation
26th Feb 20137:00 amRNSAppointment of New Chief Executive Officer
13th Feb 20137:00 amRNSHolding(s) in Company
12th Feb 201310:59 amRNSHolding(s) in Company
12th Feb 201310:59 amRNSHolding(s) in Company
11th Feb 20133:52 pmRNSHolding(s) in Company
11th Feb 20132:00 pmRNSNotice of GM & Investor Presentation
6th Feb 20131:25 pmRNSResignation of broker
6th Feb 20137:00 amRNSIssue of Equity
30th Jan 20137:00 amRNSOperations Update & Societe Generale Commitment
21st Dec 20127:00 amRNSOperational Update and Additional Listing
18th Dec 20124:40 pmRNSSecond Price Monitoring Extn
18th Dec 20124:35 pmRNSPrice Monitoring Extension
30th Nov 20127:00 amRNSResult of AGM and Operational Update
14th Nov 20127:00 amRNSGas Market Study on Logbaba
6th Nov 20124:40 pmRNSSecond Price Monitoring Extn
6th Nov 20124:35 pmRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.