Victoria Oil & Gas Forum

If we are not in group profit, why is Foo taking royalties?

Just looking at last years accounts, directors remuneration $1,792,000 quite a good wage for Cameroon, Foo taking the lion's share of $573,000, he gave himself a $260,000 pay rise over the year before, so he must have been working hard to justify it. I wonder how much he will pay himself when we actually make a profit.

VOG's share price will stay in the doldrums until Foo goes.

VOG. I hope their is no contagion from the terrorist attack at Kerawa yesterday, in the extreme north of the country, bordering Nigeria, resulting in the deaths of at least 30 souls. These actions occurred about 800 km from Douala as the crow flies. The effect on SP at the moment is not apparent.

VOG. If the market holds until the next quarterly report, we might see a 10p increase in SP. If it cracks, Wall Street and every other market will crash like no one has ever seen before. Investors will be obliged to dump many positions, and in particular AIM for margin calls. Then, VOG could be in for trouble. It will not go stony-broke as it is a cash generator, but a downturn of -15p may well be possible. So that's it -- the good news and the bad. Sleep well good people!

VOG. Stockholders and speculators had a tough day trading on low volume in a tight 50p to 51p band. I hope this is near the bottom of the sink, and a black hole like the one they envisage at CERN on 23 September, doesn't suddenly appear and swallow up what little we have left. I hope Mr Foo, in his next address to stockholders, describes how stockholder value has been consolidated. Anyway, I'm going for a brew.

VOG Hello again! It'll soon be good afternoon. The silence here is killing me. Wot! No news. I'm slowly losing the will....

VOG. Good morning. Hope you had a nice Bank hol. VOG down again, is spite of improving crude prices and the encouraging words of our soothsayers. I wonder if I would have been better off buying tulip bulbs and hoping for a return of times gone by.

Sell VOG buy ACE.

Stii, Foo's doing well with his double salary, royalties, contracts awarded to his other company, and God knows what else.