Victoria Oil & Gas Forum

After all the song and dance over the recent VOG Presentation in London, VOG performed a cartwheel and fell flat on its face. The same happened to the SP. Forward looking news means nothing if you are leaking cash! VOG is stuck in the mud and the tide is coming in fast.

Is this a signal ( $26,000,000 drawdown loan) for present day holders to cut their losses to make way for the next generation of mugs.

Melorosian, I thought you might be representing the Board of VOG, and delivering a cannonade to ward off prying investors. This could well be the sort of nonsense VOG might publish. But it does not wash with me. If the plan is not simple and investor friendly, investors would do well to bale out, whilst they still have a parachute. For VOG, it's earned cash in the bank or nothing.

MetalMuppet, please see Duffer's report regarding last Saturday's presentation of VOG. Here you see through a window, without the window dressing. You are probably another bona fide investor who is licking his wounds. But I could not help but notice the uncertainties which plagued your report. Words like "seems," "highly likely," "should be," can be a death knell for junior companies. They send a shiver down my spine. Chairman Foo is playing roulette with our money!

Nanny,

I completely agree shareholders have been led up the garden path far too long here with the jam tomorrow promises. VOG has been a litany of promises, failures, surprises and huge salaries for a minnow.

We have a BOD and directors big enough to run shell let alone a Cameroon Gas station. I would be up for getting rid of Foo as well.

I was too busy getting my hair done on Saturday to attend what our man on the ground "Duffer" has so succinctly summarised as "jam for tomorrow.....for the benefit of the gullible." Not good enough Mr Foo. Your shareholders are fed up being led astray, the company's assets being wasted and VOG being plunged headlong into debt. In any other company, shareholders would demand a cull of those at the top. We need a change of leadership. Do other shareholders feel the same, and how do we call an extraordinary meeting to put this into effect? VOG investors should be rich now, not counting their losses. No excuses!

Usual guff and blarney and incredible forward looking statements at the presentation. Plenty of jam tomorrow, 3rd power mentioned, for the benefit of the gullible.

Nobody knows why Grant Manheim, a non shareholding director, continues to be paid a kings ransom for apparently contributing SFA to the running of VOG.

The tin can labelled "VOG -- It's good for you" can be tarted up as much as you like during this Saturday's presentation, but scratch the can with your nails, and you see it is full of holes. These holes are leaking cash, and at an alarming rate. VOG investors don't need another presentation. If the company is sound, it will be reflected in the SP. It will be the market that will herald a turnaround in the fortunes of VOG -- not Chairman Foo. If Chairman Foo continues risking the finances of VOG on drilling and exploration, I think investors should really be thinking about some new faces at the top. It would be a great tragedy if investors allowed their company to be bled to death.

Chairman Foo and Board of VOG say one thing and woo investors with promises of sweets and treats in the future, but the market tells a different story. VOG share price is treading water. Why is it that the SP is paralysed and yet VOG makes cash daily? What is it that the Board are doing which does not make sense to the investment community? I can answer that one. They are spending rather than saving. It is appalling that cash reserves are below £5 million. Duffer reports VOG has already used half of its drawdown facility, leaving our company in debt. Thank you Chairman Foo. I see further spending crippling VOG, sending the SP plummeting. A saving grace would be a hostile takeover. Then the SP would rocket. Investors should not follow the Board over the cliff.