melrosian
24 Jul 2018
Issue of Shares TW ENEO does not really do it for me. Remember VOG did not openly acknowledge that 106 was not a fully operating well from the point of drill completion. VOG + the cash flow from new power stations and converted expanded Dibambe would be a whole new cash positive animal - if there is the liquidity in Cameroon to ensure gas supplies are paid for. Unfortunately getting to that point ( huge supply and Huge cash +ve flow )is not going to be cash/investment free. VOG’s cash flow from ENEO had stopped and supply now stopped too. Had 108 drill stopped at proving gas ( but not all) - then VOG would have replaced failing 106 with excellent 107 and waited until actual power station build ( and supply) was at letters of agreement stage . At a time when the drilling fraternity had seen a downturn in demand - I would be amazed if a drill deal could not have been achieved where risk/cost of delays was not shared by the drilling company. As investors - we still have no idea about the new entity which carried out the drilling. It all leaves big questions in the light of the dilution. Directors have a duty in company law to act in the interests of shareholders. Frankly any additional costs backed up by real actual supply prospect would have been worth paying. As VOG told us in their Soc Gen RNS …it is possible to “Bridge to Profitsâ€. No company can borrow to bridge to vague point. I have not joined the shareholder group ( yet) but I am pretty clear there are some very reasonable questions which should be answered . The recent damage to shareholder value is material and part of it probably unwarranted, Mel
legionrider
13 Nov 2017
I find it strange why anyone would want to take up the open offer when you could have purchased as many as you wanted for less on the open market
legionrider
26 Oct 2017
No point in buying more unless you can get them at a sufficient discount to sell them again at a profit, I have been in VOG for years and there is no way I would add to my holding other than a straight buy and sell. Jam today seems the company's policy, with current cash burn there will probably be another placing next year to keep the directors in the salaries they have become accustomed too.
legionrider
31 Jul 2017
I don't think the share price will do anything positive today after the RNS, increase in borrowing from $10million to £20million, reduction in cash from $10million to $7million, lower sales than last quarter. We have all been told how well the company is going to do, but the only thing that really makes a difference is how profitable you are today, not what might be in years to come.
legionrider
08 Jun 2017
I dont think they should be paying any bonuses until the company makes a net profit, they already earn too much for a loss making company
legionrider
15 Mar 2017
BWLN share holders have managed to get rid of their board 'As a consequence of the business conducted at the General Meeting, Kevin Hart, Kerry Crawford, John Martin, Tim Sullivan and Philip Tracy ceased office as Directors with immediate effect.' This means that the deal for Bomono is up for renegotiation. it will be interesting to see how this plays out.
legionrider
06 Mar 2017
Interestingly if you look at this link you can see why COC are unhappy. [link]
legionrider
06 Mar 2017
We will find out how the market view the deal at the end of the day, depending on increase/decrease on either company is usually a good indication on how the deal is viewed.
legionrider
06 Mar 2017
I am unsure to the real benefits of the deal, it looks better for BLVN. We have a current capacity for 20mmscf, we currenty only have a market for 17mmscf, so we currently cant sell all our own gas. We have just paid a fortune to drill 2 further wells to increase our capacity by another 20mmscf. Why do we now want to pay BLVN for more gas when we cant sell the gas we currently have.
legionrider
09 Feb 2017
If they go up another 40% I will reach breakeven
legionrider
20 Dec 2016
on the plus side, he does not expect the shares to go lower that 28p or he would not have taken them.
Saltyjack
09 Sep 2016
I voted "Yes" in the Victoria Oil & Gas poll: Should Kevin Foo of Victoria Oil and Gas lose his Job [link]
Saltyjack
08 Sep 2016
I just created a Victoria Oil & Gas poll: Should Kevin Foo of Victoria Oil and Gas lose his Job What do you think? [link]
Saltyjack
08 Sep 2016
Another Mish Mash RND Who have we settled with? When are we gonna get FOO settled 8 months now trying to come to an agreement to get his royalties removed from him. This guy is taking everybody for a ride he needs to be booted out FAST!
Saltyjack
07 Sep 2016
Sick and F***** tired of this company and FOO! He is a disaster........
