Totally_Wired
05 Aug 2019
RNS-Historic From this morning: 5 August 2019 Victoria Oil & Gas Plc Grant of Options to Directors and employees Victoria Oil & Gas Plc announces that further to the Company’s circular to shareholders dated 11 March 2019, a long-term incentive programme (“LTIPâ€) for Directors, management and employees has been adopted by the Board on 31 July 2019 ('Date of Grant"). As conveyed to the shareholder circular dated 11 March 2019, the Annual Report and Accounts to 31 December 2019, and in our Pre-AGM Trading Update dated 27 June 2019, the options programme has been implemented to enable us to reduce Executive and Non-Executive Directors fees and align the interests of all of our Directors and employees to those of our shareholders. On the Date of Grant, options totalling 13 million Ordinary Shares (or 5.1% of issued share capital of the Company) have been granted at a price of 14p. All share options have exercise periods of 5 years following vesting dates. The share options have been granted to the Executive Directors and employees pursuant to the LTIP. Share options to the Non-Executive Directors have been granted as per individual Option Agreements. The following notification has been made to the FCA in accordance with the requirements of article 19.3 of the EU Market Abuse Regulation: Details of the person discharging managerial responsibilities / person closely associated See Link BOP urthermore, the Company announces that Dostan Investments Limited, a company owned and controlled by Ahmet Dik (Chief Executive Officer) has elected to exercise its options awarded as part of the Annual Bonus Plan of 2016. A total of 433,735 new ordinary shares (“Ordinary Sharesâ€) of 0.5p each in the Company have been issued pursuant to the exercise of these options. An application has been made to the London Stock Exchange for the admission of the new Ordinary Shares to trading on AIM (“Admissionâ€). Admission is expected to become effective and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 9 August 2019. Following Admission, the Company will have 256,861,796 Ordinary Shares in issue. The following notification has been made to the FCA in respect of the exercise of options by Mr Dik in accordance with the requirements of article 19.3 of the EU Market Abuse Regulation: See Link BOP [link]
Totally_Wired
30 Jul 2019
VOG-Interviews Forgot to post this yesterday: Aksa Energy deal to put Victoria Oil & Gas 'on the path to profitability’ Proactive Investors Stocktube Published on Jul 29, 2019 Victoria Oil & Gas PLC’s (LON:VOG) Ahmet Dik tells Proactive London’s Andrew Scott they’ve signed a non-binding term sheet for an energy supply deal in Cameroon. The agreement is with Aksa Energy to supply up to 25mln standard cubic feet a day of gas to Aksa Energy’s planned 150-megawatt power station in Douala. [link]
Dubai_tDodger
30 Jul 2019
RNS-Historic No one else following this share on here now? Used to quite lively in the days of Kevin Foo et al !
Totally_Wired
30 Jul 2019
In The Media Translated via google: Gaz du Cameroun to supply natural gas to the future Bekoko power plant in Douala Monday, July 29, 2019 (Invest in Cameroon) - Gaz du Cameroun, a local subsidiary of British producer Victoria Oil & Gas, has signed a non-binding natural gas delivery agreement with Aksa Enerji Uretim, operator of the future Bekoko power plant in Douala at the factory. Under the terms of the agreement, Gaz du Cameroun will deliver up to 25 million cubic feet per day to the 150 MW capacity plant for 25 years with a five-year extension option. The gas will be traded at a price of $ 6.75 per million Btu. The agreement is subject to several government approvals and the signing between Eneo, the public electricity distributor, and Aksa Energy, of an agreement to buy / sell electricity. For Gaz du Cameroun, this agreement could lead to the implementation of a long-term development plan that will support its existing network and the Logbaba and Matanda projects. Aksa Energy is one of the largest independent electricity producers in Turkey. Earlier this month, Cameroon’s energy minister and Aksa Energy signed a memorandum of understanding to develop the power plant. [link]
Totally_Wired
30 Jul 2019
In The Media Aksa Energy deal to put Victoria Oil & Gas 'on the path to profitability’ Proactive Investors Stocktube Published on Jul 29, 2019 Victoria Oil & Gas PLC’s (LON:VOG) Ahmet Dik tells Proactive London’s Andrew Scott they’ve signed a non-binding term sheet for an energy supply deal in Cameroon. The agreement is with Aksa Energy to supply up to 25mln standard cubic feet a day of gas to Aksa Energy’s planned 150-megawatt power station in Douala. [link]
Totally_Wired
29 Jul 2019
RNS-Historic 29 July 2019 Victoria Oil & Gas Plc Term Sheet signed with Aksa Enerji Uretim A.S. to supply up to 25mmscfd of gas to 150MW Douala Power Station Victoria Oil & Gas Plc, whose wholly-owned subsidiary, Gaz du Cameroun S.A. (“GDCâ€), is the fully integrated onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, is pleased to announce that it has signed a non-binding term sheet with Aksa Enerji Uretim A.S. (“Aksa Energyâ€) (“Term Sheetâ€) to supply Aksa Energy with up to 25mmsfd of gas to Aksa Energy’s planned 150MW power station, to be located in Bekoko, Douala, Cameroon. The Term Sheet is subject to various conditions precedent, including government approvals and the signing of a Power Purchase Agreement by Aksa Energy with Eneo Cameroon S.A. (“ENEOâ€) or “Sonatrel†(the Cameroon Government owned manager of the national electricity network). The key commercial terms between Aksa Energy and GdC include: · Gas Price: US$6.75 per mmbtu; · Term: 25 years, plus option to extend for an additional 5 years; and · 70% Take or pay component. Aksa Energy is one of the largest independent power producers in Turkey, selling 14 TWh/year of energy globally. On 2 July 2019, the Minister of Water Resources and Energy of Cameroon (“Ministerâ€), on behalf of the Government of the Republic of Cameroon, and Aksa Energy, entered into a Memorandum of Understanding to develop a 150MW of power plant project in Douala, subject to receipt of the requisite approvals and licenses The location of the proposed power plant is expected to be near the Bekoko substation, near to GDC’s existing gas pipeline network. GDC’s management has been working closely with Aksa Energy and ENEO to develop this exciting gas-to-power project, and GDC, Aksa Energy and ENEO gratefully acknowledge the support and guidance they have received from the Minister. The Term Sheet, which the Company expects to lead to a long term grid power contract requiring natural gas from GDC gives support to the long term field development plans of GDC in Cameroon for both the Logbaba Field and Matanda Block in order to deliver the contracted gas for this project. Ahmet Dik, Chief Executive Officer of VOG commented: "Considerable progress has been made in our Gas-to-Power strategy, as evidenced by the term sheet signed with Aksa Energy, one of the largest global independent power producers. Upon commencement, which is planned for late 2020, production levels would dwarf the current level of gas sales and propel VOG into a profitable trajectory of growth which has always been our aim. Much work and effort by all stakeholders has gone into progressing this project and I am confident the additional power expected to be generated will be highly beneficial for the Cameroonian people and the economy as Douala continues to attract industry into the busy port town. We are delighted to have begun a partnership with such a high-profile, professional and reputable company such as Aksa Energy which has a depth of experience in installing and operating successful gas facilities across Africa. Additionally, I would like to thank the Government of Cameroon for their support of this project, and we look forward to working closely with them through to the delivery of first gas and power." [link]
Average_Dave
26 Jul 2019
The Plot thickens Business in Cameroon British Actis still keeping the mystery around ENEO’s sale - Business in... Today July 24, 2019, Nafiatou N’Daw (photo), chairwoman of Energy of Cameroon (Eneo)’s audit committee, could have ended the rumors according to Didn’t know ENEO was part owned by a British company and the Cameroon gov’t have not been paying their bills. Funny stuff. A_D
Totally_Wired
22 Jul 2019
In The Media Please remember Malcy is just a share pundit at end of day! Victoria Oil & Gas The social media world has been very excited about VOG in the last few days after an article by respected journalist Jamie Nimmo suggested that the company has signed a huge deal with Turkey’s biggest power company, AKSA Energy. The deal to supply as much as ’25 million cubic feet a day’ to a new AKSA power station in Cameroon would indeed transform VOG and according to the article is ‘only subject to Government sign off’. As usual the VOG share price has not thought this worthy of consideration but I do think that should this be true it will make a significant change, one which to be honest should already be reflected in the price for greater operational performance this year so far. All the investigations I have made make me believe that this story is correct and I would expect all being well an announcement imminently. [link]
Totally_Wired
22 Jul 2019
General Interest VOG have a new website ran by a different developing company! [link]
Totally_Wired
21 Jul 2019
In The Media A land of opportunities In this edition of your magazine, we talk about some of the multinationals that are faring well in Cameroon. This is proof that the country is a good place for investors. A condition it owes first to its geographic location. Indeed, Cameroon lies between Nigeria and ECCAS (Economic Community of Central African States) countries and thus serves as a gateway to a market of more than 300 million consumers, straddling West and Central Africa. Moreover, the country has many natural riches and comparative advantages that are poorly exploited, and unexploited even. Let’s take for example the Eastern region where many world-class ore deposits have been lying for eons, awaiting to be exploited at an industrial scale. Same goes for Cameroon’s hydropower potential; it is the third largest in Africa, after DRC and Ethiopia. Yet, the country, ironically, still is plagued by power outages. Between 2015 and 2017, Cameroon imported about XAF1000 billion of frozen fish and rice, despite having abundant arable lands and a sea coast that spans nearly 1,500 km. There are also opportunities in mass retail. The country, according to French mass retail giant Casino Group, is one of the very few in Africa to have 10 cities with at least 100,000 residents each. The last thing that makes Cameroon a perfect destination for investors is its business climate which the government keeps improving through multiple reforms and incentives. The most important of these reforms is the 2013 law facilitating private investment in the Republic of Cameroon. This law, revised in 2017, provides investors tax exemptions, and other incentives, for a period of 5 to 10 years. This has got many investors flooding to the country and so far, even if many projects are taking time to be concretized, the Investment Promotion Agency (API) has identified 181 contracts inked with various investors. This shows that, in spite of more or less justified concerns (the country has been experiencing major security crises since 2013) expressed by institutions like Coface or U.S ratings agency Standard & Poor’s, Cameroon still finds support from many investors. There is a simple reason explaining this: the plethora of opportunities the country holds overshadows any other concern. [link]
Totally_Wired
21 Jul 2019
In The Media The July/August edition of ‘Business in Cameroon’ is out with a repeat of the 27th June article about Gaz du Cameroun (GDC). [link]
Totally_Wired
20 Jul 2019
In The Media Couldn’t find this article before but only had a quick look, anyway I found it! "The Mail on Sunday14 Jul 2019jamie.nimmo @mailonsunday.co.uk Contributor: Ben Harrington My sources say the AIM-listed firm, which extracts gas from Cameroon, has signed a deal to supply gas to Aksa Energy, Turkey’s biggest power company. VOG will supply up to 25 million cubic feet per day of gas to Aksa’s planned power station in Cameroon. The deal is still subject to government sign-off and won’t start until next year. But it will be a big step towards profitability." [link] Below is a link to the Aksa Group website: [link]
Totally_Wired
18 Jul 2019
Tr-1: notification of major interest in shares I forgot to update, better late than never! Securities in Issue Number of shares in issue: 256,428,061 Percentage of shares not in public hands: 33.43% Free Float: 66.57% Holdings of Significant Shareholders As of July 2019 the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are attached: Name Number of Shares Percentage of issued share capital YF Finance Limited 60,913,330 23.755% Hadron Capital LLP 27,440,962 10.701% Zug Finance 8,471,991 3.304% Forest Nominees Limited (GC1) 7,775,366 3.032% [link]
Totally_Wired
08 Jul 2019
RNS-Historic 8 July 2019 Victoria Oil & Gas Plc Directorate Change Victoria Oil and Gas Plc today announces that John Bryant has resigned as an independent non-executive director of the Company with immediate effect. Roger Kennedy, Chairman of VOG, said, “We thank John for his service and contribution to the Company over the last 4.5 years and we wish him well in his future endeavours.â€
Totally_Wired
05 Jul 2019
RNS-Historic 5 July 2019 Victoria Oil & Gas Plc (“VOG†or the “Companyâ€) Post-AGM Q2 2019 Operations Update Victoria Oil & Gas Plc, whose wholly-owned subsidiary, Gaz du Cameroun S.A. (“GDCâ€), the fully integrated onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, is pleased to provide an update on the 27 June 2019 announcement (that included gas production and sales figures from 1 April to 25 June inclusive) to include the full production and sales figures for the period from 1 April to 30 June 2019 inclusive (“Q2 19†or “the Quarterâ€). Highlights: · Overall Q2 19 average gas production rate during the period of 9.66 mmscfd (Q1 19: 10.10 mmscfd) · Q2 19 gross gas sales of 882mmscf (Q1 19: 903mmscf) · ENEO Cameroun S.A (“ENEOâ€) payments received for January and February 2019, with management confident that regular payments will be in line with the existing binding term sheet Logbaba - Quarterly Production Update Q2 19 (1 April 2019 to 30 June 2019) gross and net gas and condensate sales at Logbaba are as follows: Amounts in bold are gas and condensate sales attributable to GDC (57%): Via link at BOP Grid Power Update The Company is pleased to announce that further to the 27 June 2019 announcement, in which VOG detailed that it had received the ENEO invoice for January 2019, the Company has received further payment from ENEO to settle the February 2019 invoice totaling $0.8 million (net). An amount of approximately $2.6 million (net) remains outstanding, not including amounts to be invoiced for June. Now that all the necessary financial processes have resumed, the GDC management team is confident that all future ENEO payments will be forthcoming in accordance with the existing binding term sheet. As noted in the announcement of 27 June 2019, this term sheet will soon be supplemented by a fully termed agreement and payment guarantee. Cameroon Holdings Limited (“CHLâ€) Royalty Agreement CHL has commenced proceedings against both Gaz du Cameroun S.A and Victoria Oil and Gas Plc with regard to payments CHL believes it is entitled to under the Royalty Agreement. The Company proposes to vigorously defend such claim and is currently preparing its defense. Further updates as required will be made in due course. [link]
