NannyTess1
26 Apr 2016
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.
Duffer
26 Apr 2016
Half the drawdown used already, within days of availability, expect dilution before Xmas. Foo needs investigating.
NannyTess1
25 Apr 2016
Some investors still lack clarity when they view VOG. They are mired in detail and are unable to see through the fog of war. VOG is no longer an entity which can be explained simply, but is lost in a maze of complexity and double entendre. If we cut to the chase, VOG< out company, is being exposed to the prospect of unspecified debt by Chairman Foo and his lieutenants, each of which will receive a handsome remuneration package come rain or shine, at our expense. They write their own blank cheques. VOG in contrast needs cash in the bank and a Board who do not see VOG as a cow to be milked. Every time the Board tries to blind us with technical details, they vex investors sorely to the point of despair. Keep it simple. VOG should be making cash now, not haemorrhaging investors money.
Duffer
21 Apr 2016
After six years investing in VOG I am many thousands of pounds down, because I believed Foo was a decent honest man. How wrong I was, he is millions up while still waving the unattainable carrot in front of gullible investors stupid enough to fall for his projected numbers, and accept his colossal salary bonuses and royalties.
NannyTess1
20 Apr 2016
VOG is like a plane heavily laden with cargo which wants to take off but just can't. It accelerates faster and faster on the runway to the point where someone has to make a decision either to jettison some of the cargo, or else risk overshooting the runway and crashing. The cargo happens to be Chairman Foo and part of the Board. VOG is in its infancy as a producer and cannot afford to be burdened with debt. VOG needs cash and lots of it. Ask yourself why news of Matanda and yesterday's Quarterly Update failed to impress the market. Just who is telling porkie pies?
Duffer
19 Apr 2016
We'll never see fair value while the bumbling exaggerating untrustworthy Foo is running the show, the institutions people who matter can no longer trust him
NannyTess1
18 Apr 2016
Can VOG allow Chairman Foo to gamble on Matanda? If the wells prove dry, then what? How low will the SP go? Has Chairman Foo lost his way and is has he the best interests of shareholders at heart? Shareholders must not allow themselves to be led into these new Board ventures blind.
Duffer
14 Apr 2016
Mr Foo has borrowed a substantial amount of cash to guarantee his and the BOD massive remuneration for some time to come. He will not dilute until this pile is near depletion.
NannyTess1
14 Apr 2016
Some VOG investors have capitulated to the idea of "No dilution" or "Back-up" regarding the US$ 25 m loan facility recently mooted for VOG. My medicine, in contrast, aimed at rewarding the long suffering shareholders, who are first priority on my list of company targets, would be to fill the war chest with cash. Cash is king, not debt! A very healthy balance sheet would propel VOG to the stars. Those who wish to stay for the drilling phase could do so. Those who wish to cash in their stock could do so too. I am against new drills will burden the company with debt or raid what little cash we have or will make in the near future. Let us not be led by a ring in our noses.
Duffer
12 Apr 2016
Greedy Foo and the directors are VOG shareholders main concern and should be replaced with honest men of repute and interest in the shareholder value, not only their own ridiculously massive remuneration. This company should not only be run as their personal gravy train
NannyTess1
11 Apr 2016
VOG is not in a position to drill new wells in a bid for more gas reserves, as its credit line is weak. We need to stop the drilling, at least for the moment, and ramp up production. When there is enough cash in the pot, then, and only then, do we return to exploration. If we start a drilling spree and hit a series of dry wells, then VOG is history. If Chairman Foo refuses to listen, then we should use shareholder muscle and vote him out. After all, his responsibility should be first and foremost to the shareholders. Another possibility is for a white knight to appear, see the potential in VOG, excise the rot within the Board, and start making some real cash. There is absolutely no reason why VOG should be mired in debt. Heads need to roll starting at the top, to protect this valuable gas utility, which equates to progress in the Cameroon economy.
MrJinx
10 Apr 2016
The share value won't improve, until Mr Foo acts on the royalty and bonus issues holding share value back.
Duffer
09 Apr 2016
This company appears to be run solely for the satiation of the greed of the CEO and directors via extra share issues. Expect much more dilution in the coming years
NannyTess1
07 Apr 2016
Matanda is an exploration project. VOG is a production project. One burns money -- shareholder's money, and the other rewards shareholders. Chairman Foo gets paid either way. In fact, it looks better for him if he conjures up dreams of huge gas fields and promises of a company flowing with milk and honey. In reality we toy with unspecified debt, shareholder dilution, and low SP. Why have we not got £50 million in the bank? Why not? The SP would rocket. Investors would be rich. First build up a generous war chest and then talk exploration. Discovery of dry well has sunk many an oil company, as their coffers have been drained. None of us should be led by our noses. We should all be asking tough questions.
NannyTess1
02 Mar 2016
VOG needs to slow down and consolidate its cash position. Some projects burn up cash at an alarming rate, and these need to be put on hold. The cash cow is not there to be milked either, especially in the form of gratuities, remuneration or greedy fingers. Build the cash up first, and then forward looking projects can be considered. Stop the cash burn, and VOG would rocket ahead on full throttle. Notwithstanding, all things being equal, I don't think there will be much more downside action on SP, and i would expect the SP in the near term to plateau at about 50 p in the wake of the recent interims. If however a Mr Gekko appears on the scene, then a 100 p SP is not out of the question.
