Message to all shareholders, this company is a disaster run by a greedy buffoon who has destroyed any chance of shareholder returns to line his own pockets, it's that simple.
CHL is a parasite company draining the potential growth and investor value from VOG.
I left VOG a few months ago for greener pastures elsewhere, but still keep a tab on VOG from time-to-time. Now that the Q2 2016 results are out, Kevin Foo says that we should be rejoicing. But his jubilation has fallen on deaf ears in the Market, which has greeted the news with a drop in SP. I don't wish to decry the good work that VOG has carried out in the Cameroon, but there are still those 2 wells to spud and 6 months drilling to a depth of 3 km at a cost of US$ 40 million. If one or both wells fail to provide economically viable amounts of hydrocarbons, then investors should run for cover. Press the panic button. Before the drilling phase is completed, investors are more than likely to feel the chill winds of a serious economic meltdown in the US and may be forced sellers for reasons nothing to do with VOG. Finally, Chairman Foo should be able to rationalise Board Remuneration with SP, so his position is robust.
I suppose old Kev and the BOD will feel justified in grabbing their self awarded 100% bonus, the broken long term holders certainly won't.
More pie in the sky and jam tomorrow predictions, we all know Foo's GSA's can evaporate overnight.
There will only ever be enough money to be made to keep the top half dozen in clover. Courtesy of foolish and complacent shareholders.
Foo's total remunerations amount to many millions too much, at the shareholders cost. Very shady character indeed.
I voted "He should dispose of his royalty payments and stay on as chairman" in the Victoria Oil & Gas poll: Do you think Kevin Foo from Victoria Oil and Gas either sort out his royalty payments or resign from the board? [link]
I voted "He should dispose of his royalty payments and stay on as chairman" in the Victoria Oil & Gas poll: Do you think Kevin Foo from Victoria Oil and Gas either sort out his royalty payments or resign from the board? [link]
I just created a Victoria Oil & Gas poll: Do you think Kevin Foo from Victoria Oil and Gas either sort out his royalty payments or resign from the board? What do you think? [link]
Foo's royalties are depriving investors of dividends.
Interesting video, if only he had a crystal ball [link]
I don't wish to scare anyone..... But if debt in the US unravels and the petrodollar ceases to exist -- All very probable events -- before VOG finds more gas, the company would be in tatters. If the drilling is concluded with no hydrocarbons found, even without global stockmarket turmoil, the clock would be turned back 5 years on VOG. Stock prices could easily collapse below 10 p. Investors shoulD ask themselves if they want to live with these sorts of worries. Will you be taking bread from your childrens' and grandchildrens' mouths?
Quarterly update well overdue as usual. Very poor show.
Most LT shareholders have realised VOG is regarded as a cash-cow by Foo and the directors, the shareholders nothing but a nuisance, but can be taxed when the coffers run down. The CEO and BOD don't worry about the share price as they receive massive salaries and bonuses.