mad_chick
26 Aug 2018
VOG-Interviews SP indicates that the market believes ENEO will be back soon. I have no idea if the terms will change, but expect there will be more guarantees in place this time regarding payment and hopefully it should be fairly long-term. My main worry is a placing. I almost wish they wouldn’t say that there wouldn’t be a fundraising if there is going to be one as it just destroys confidence in anything they say. If I recall correctly at the end of the interview he says no fundraisings this year, but at the beginning he says no fundraisings planned (directly after saying that they have enough cash to see them through to the end of the year), which makes it sound as if there won’t be any fundraisings at all. I think the statement at the end is clearer (no fundraisings this year - implication being next year there may be).
mangeli
25 Aug 2018
VOG-Interviews It’s all very encouraging but the contract with ENEO still isn’t signed. Kevin Foo has certainly put his head on the block so I’m pretty certain we’re nearly there. But you never know! I’m also apprehensive on the terms of the new contract. The talks have lasted too long. What concessions will Ahmet Dik have to give? ENEO know VOG are running out of money.
mad_chick
24 Aug 2018
VOG-Interviews Fairly long interview - enough money until end of year and says won’t need to raise funds. However, not sure they do have enough (and end of year isn’t long) and would suspect they are hoping for ENEO to come back, so that the SP goes up and they can do a placing at a higher price than currently, maybe on the back of CNG. Foo seems confident they can manage as they are, though. No more drills in the foreseeable and it seems that next year’s focus will be CNG. Do we have a commitment for Matanda?
Totally_Wired
24 Aug 2018
VOG-Interviews Haven’t had chance yet to listen to all the video but great to see Kevin in the studio with positive news regarding ENEO: Proactive Investors Stocktube Published on Aug 24, 2018 Kevin Foo, chairman of Victoria Oil & Gas plc (LON:VOG), spoke to Proactive’s Andrew Scott following the release of their Q2 operations update. Foo says he’s confident a solution can be found ‘within weeks’ to end the suspension of gas sales to their main customer ENEO Cameroon SA. He also discusses their recent deal with Naturelgaz regarding compressed natural gas solutions, as potential alternative products to diesel and heavy fuel oils. Foo says active discussions are underway with a number of potential customers. [link]
Harwood_Investors_Club
20 Aug 2018
Quarterly Operations Updates How rare it is to see an exploration company morph into a utility supply company and then end up with capacity in excess of demand. The diversification efforts are commendable but we need more of them and we need them faster. VOG could still come good, but I think it is still going to take a while. I have held this share so long and had my hopes raised, only to be dashed so many times that I am prepared to give it a little longer. Harwood
Totally_Wired
17 Aug 2018
Quarterly Operations Updates 17 August 2018 Victoria Oil & Gas Plc Q2 2018 Operations Update Victoria Oil & Gas Plc, the Cameroon based gas and condensate producer and distributor, provides an update on the Group’s operations for the three months ended 30 June 2018 (“Q2 18†or “the Quarterâ€). Highlights: · Gaz du Cameroun S.A. (“GDCâ€) remains confident of a resolution with ENEO Cameroon SA (“ENEOâ€) with regards to the grid power supply issue · CNG agreement to partner with Naturelgaz Sanayi ve Ticaret A.S (“Naturelgazâ€) announced on 26 June 2018 provides GDC with the opportunity to reach larger customers beyond the current pipeline infrastructure · GDC added two new customers during Q2 2018 · Positive reserves update following the completion of the drilling campaign GDC remains engaged with ENEO following the non-renewal of the grid power gas sale agreement at the end of December 2017, as announced on 5 January 2018. As a result of sales to ENEO not recommencing during Q2 18, the gas consumption levels from GDC’s 57% participating interest in the Logbaba Project in Douala, Cameroon, are at similar levels to those reported in Q1 18. Logbaba - Quarterly production update The Q2 18 gross and net gas and condensate sales for Logbaba and GDC, are as follows; amounts in bold are gas and condensate sales attributable to GDC (57%): See Link at BOP ENEO update The Government of Cameroon, ENEO, Altaaqa Global (“Altaaqaâ€), the genset providers to ENEO which consume GDC’s gas, and GDC continue to seek a resolution to the suspension of sales to the ENEO owned Logbaba and Bassa power stations in Douala. GDC remains confident that a solution will be found, and all parties are actively engaged in the process. The shortfalls in power supply in Cameroon continue, with hydroelectric schemes not meeting the current demand. Customer developments During the quarter, GDC commissioned one new thermal customer and one new retail power customer. In addition, an existing thermal customer, Camlait, commissioned a retail power solution. Production levels have increased from 3.3mmscf/d during Q2 2018 to 4.4mmscf/d during August 2018. Because of the current power shortages in Douala, several existing and new customers have expressed interest in the retail power solutions which GDC is offering and we expect to have several of these customers signed up by year end ready for consumption of gas for power generation. GDC is expediting its support to manufacturers and producers in Douala who are facing regular power disruptions by providing bespoke gas fired power generation for individual customers or groups of customers. As most of these proposed power customers are already connected to the gas pipeline network, adding a gas to power generation solution would increase gas consumption with minimal capital costs for GDC. On 26 June 2018 the Company announced an agreement to partner with Naturelgaz on CNG projects. Naturelgaz is Europe’s largest CNG supplier and distributor and brings valuable expertise within this field to support GDC. The project will afford GDC the opportunity to reach larger customers beyond the pipeline infrastructure and aims to replace diesel and heavy fuel oils in a variety of applications. As part of a customer diversification strategy, active discussions are underway with a number of such potential customers. Reserves update On 4 June 2018, the Company announced that a full subsurface reinterpretation of the Logbaba Field had been completed following conclusion of the 2017 drilling campaign. This incorporated the reprocessed historic seismic data and the new well data as a basis for ongoing reservoir development, which led to a material upgrade in the reserves of the Logbaba Field as follows: See Link at BOP [link]
Totally_Wired
14 Aug 2018
Malcy At the end of the day it’s just another persons view but possibly a more informed view point? Malcy’s Blog bucket list (Update-Aug 14, 2018) VOG 17
8 in: [link]
mad_chick
07 Aug 2018
Tr-1: notification of major interest in shares Yes, it would definitely be good to get ENEO back, although I wonder how much confidence has been dented with the current fiasco. I also wonder if the SP will get knocked back again with a placing. Timing is everything and mine is often wrong!
mangeli
07 Aug 2018
Tr-1: notification of major interest in shares Well I think we all hope so. We just need that ENEO contract to be back on stream. Then we’ll see the SP surge back to 50/60p.
Dubai_tDodger
07 Aug 2018
Tr-1: notification of major interest in shares At least YF showing some much-needed signs of confidence in VOG (or just cheap buying opportunity?) It has certainly livened up the SP ! DD
1al
05 Aug 2018
Tr-1: notification of major interest in shares Nothing notified
mangeli
05 Aug 2018
Tr-1: notification of major interest in shares I see. So do we know if other big institutional investors have also bought too?
1al
05 Aug 2018
Tr-1: notification of major interest in shares Indeed they certainly know something. ENEO back to taking gas is a possibility, remember elections are just around the corner in October. Good news from the newly formed cng arm or new account signings? The thing I fear most is that yf might be working in concert to bump up the sp ahead of a placing
mangeli
03 Aug 2018
Tr-1: notification of major interest in shares Now what do YF know, that we don’t know?
