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http://www.moneyam.com/action/news/showArticle?id=4381032
http://www.moneyam.com/action/news/showArticle?id=4381151
http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/final-results/201310250700053729R/

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VOG is presently drilling Well 104 in its West Medvezhye field,and expected to reach depth in 4 weeks from spud date of 30th June, that makes 27th July(this week).
Results of testing will be sometime mid/late August, with a positive outcome
it could be HUGH.
With estimates of 134BILLION cubic metres of GAS and 201 Million barrels of Gas
Condensate,it will be a Company Maker. The field is in the area of the largest gas field in the WORLD.
Other assets include Kemerkol in Kazakhstan, with C1 reserves of 8.7MBO
and C2 reserves of7.8MBO. Another acquistion is Tamdykol with potental
reserves of 34MBO, it also has interest in 2 blocks in the North Sea.
You can check it out on www.uk-wire.com, and its own site of www.victoriaoilandgas.com.
It has excellent management team led by Kevin Foo, who hopes to turn it into
a Mid Cap Company(�500m+) in the not to distant future.
As i stated earlier in the post, Drilling is almost complete so it won't be long to Lift Off?
Well, Well worth checking out.
cyril

http://www.investegate.co.uk/Article.aspx?id=201111040700164867R

http://www.investegate.co.uk/Article.aspx?id=201111290700139263S
http://www.investegate.co.uk/Article.aspx?id=201112200700132888U
http://www.investegate.co.uk/Article.aspx?id=201207090700051587H
http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/rsm-default/201401130700074445X/
http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/interim-results/201402280701321590B/
http://www.investegate.co.uk/CompData.aspx?code=VOG&tab=announcements

nice bit of recoVery im only 25% down on my 10k now just hope we get a good flow test or we will see 50p im trying to remain confident eVery other co in the same area has big gas for next 20 years.

Amities . exactement ! Do you think Lord Browne is some type of moron ? To risk selling 7.8 billion worth of BP assets in what Woods and Mckenzie called the "old and tired North sea " to invest in this remote, cold , barren hinterland unless it was positive both gas and oil deposits existed . The USSR knew; but lacked both the technology and capital to extract it . With todays technology like satellite imaging and electro-magnetic and 3d seismic "wildcatters are almost something of the past. Revisions are most common. Look no further than the oil company Cairns for an example of that. Or conversely RPT who showed what happens when you lie about reserves- down from 480p to less than a 100p . .Look at Monterrico with its massive silver deposits who upon revision illustrated 18X its initial estimates .. Revision is commonplace in the world of mining as drilling progresses thus allowing the geology of the well to become better interpreted and understood. And following the debacle @ Shell who lied and bullied assayers reg. their reserves on five seperate occassions and paid dearly- both fiscally and by reputation , l dont think a small minnow like VOG has either the clout to persuade assayers of the calibre of DEGoyler and McNaghten to lie for them nor the inclination to do so : and in doing so self impact ."D and N " did the original assayal and also prepared this resource statement. lt is not as if another assaying team has been brought in to massage or bolster numbers. .@+ J

TheFrenchConnection

The amount of extractable oil or gas from any find varies between zero and the maximum extractable which by its very nature is always less than what is under the ground. That is all we know at the moment and no amount of high tech test gadgets are going to prove anything . What we need is several wells with good flow!!!

1. This leads to Lord Brownes scatter gun principle of finding oil.Find a promising area and sink lots of wells and on average youll get a good number of productive hits.

2.Regal(rpt) only foundered when 2nd well proved negative so not home and dry till all wells in place.(no pun intended!)
3.More drilling will increase understanding but this can swing both ways.

4.Upward revisions common...okay.

5.Even honest assayers can get it wrong or right and still no commercial flow.

Even the directors of this company seem to be showing that they understand the value of a bird(or is that poulet)in the hand compared to two in the bush(or Tundra) ie raising funds before drilling flow wells.

This situation really begs only one question at the moment and that is how much do you like to play RUSSIAN ROULETTE????????

Already in profit and nicely too from my buy on friday.

cheers GF.

Postlifted from another board...


D&M is the chief reserve auditor for many major Russian producers including Gazprom and Novatek and is one of the most respected names in the business.

Using the latest data obtained JUST from Well 104 at West Medvezhye a resource range estimated a maximum amount of 2.3 trillion cubic feet of recoverable gas resources present by D&M. This is over 130 times the previous maximum estimate released by D&M in August 2005.

Recoverable Resources

The D&M volume range of recoverable resources below is based on an independent interpretation of the data gathered from Well 104 in August 2005 that recorded two productive gas intervals at depths of 610 and 1,100 metres:

Recoverable gas

Low 92.3 Bcf
Expected 500.8 Bcf
High 2.3 Trillion cubic feet

Attributable recoverable gas resources per share expected is 4.6 Mcf
with a current high estimate of 20.7 Mcf!
______________________________________________________________________


Rough Valuation

For a reserved estimate, Let us use a price of $40/1000 Cubic Meters (although the actual price could be three times that, as per the article above):

Low:

92000 mil CF = 2600 mil CM * $40/1000 = $104 mil = 62 mil

Expected:

500,000 mil CF = 14000 mil CM * $40/1000 = $560 mil = 329 mil

High:

2.3 mil mil CF = 64,000 mil CM * $40/1000 = $2560 mil = 1.5 bil



Again, to elimiate risks of high valuation let us discount the high number as very optimistic (although possible) and take the average of the other two to make a reasonable (in fact rather minimum) valuation of 200 mil or about 2.50 per share. That is without any other assets or future findings, etc.

Goldfinger

I reckon you're generally to high for your valuation. This is gas in the ground in Russia. Your expected case , 500,000 mil CF you give a value of 329m . I reckon given recent sales prices in the North Sea -- this is more than you would get for that amount of gas in the ground in the North Sea !! Its worth about $250m in the North Sea and $60-70m in Russia (c50m). Hence upside to high estimate would get us to c200m value. This does however get us to your 250p target if the high estimate is hit

Cheers for that confidant. By no means an expert on Oilies so have to rely on others I can trust and in saying that I see Evil K is still long and switched over from being short.

Here is a post I have lifted from the other big board Quote from Evil K...

"Being Britain's most ruthless trader means that one must sometimes turn on a sixpence. The Foo man called me in a state of great excitement from Kazakhstan last night and says that I have Victoria Oil & Gas (VOG) all wrong and that its find could be enormous and so I have bought a shed load of the stock at 107p. If it is good enough for the Foo man it is good enough for me."

I bet E K will know the placing price before the RNS.

For the Foo man presumably he means the chairman of VOG. I guess in this phone call then EK did not get anything he thought was insider information or he would not have been able deal without breaking the law........ . So I wonder what extra insight he thinks he has ??


Goldfinger

These are my guesstimates no super knowledge on oils either, so pls check elsewhere to make sure. Got these figures from one of my spreadsheets, but didn't keep a record of the North Sea deal I worked them out from. Will have to go over the records

To look at it another way, current value of the company is 81m. (from FT.com)

Using Goldfingers equations...

81m = $135m = 40/1000 * volume needed

so volume needed = 3375 mil CM = 119171 million cubic feet

Anything above that and we win.

By the way, I used to work for an oil well monitoring company... but my memory is crap! If only I could remember how it all works!

Guys if I here anything from Evil I will post it.

cheers GF.

All the action on REGAL OIL (rpt) today!!!

I don't know have you guys got this or already this......


Victoria victorious

Consultants confirmation of a potential 500 billion cubic feet of gas at Victoria Oil & Gas West Medvezhye project in Russia has done wonders for the companys shares, which have more than doubled since Growth Companys last mention on 16 November to 129.5p. Floated on AIM last year at 20p by broker Brewin Dolphin to take on some of the already AIM-quoted Celtic Resources Kazakhstan oil and gas projects, the company turned its attention to Russia, at the instigation of director William Kelleher, and the move seems to be paying off.

Independent consultant DeGoyler & MacNaughton has confirmed a recoverable gas resource of 500 trillion cubic feet at West Medvezhye, which Kelleher says could be worth 180 million and 260 million against Victorias 97 million market value. The consultant also predicts a possible increase in the resource to 2.3 trillion cubic feet.

Victoria has 75 per cent of the West Medvezhye project and now needs to conduct well and drill a second well. The company also needs to negotiate with Russias Gazprom about putting the gas into its pipeline system and work out how much premium-priced condensate it could produce.

First recommended by GCI in February at 64p, Victorias shares fluctuated before the latest Russian news. Keep holding.

Put this post on the EKA thread, there was a rumour about sister company EKA and permits recently, and now a rumour in the mail about VOG and gas problems ! EKA and VOG are sister companies, so is someone having a dig at Kevin Foo ?


"The anti Celtic Resources rumour mill are hitting Foo's VOG and EKA with lots of negative stories, like the one recently on EKA about permits. Now they are having a go at VOG again I see.

A conspiracy going on ?

Anyway, good top up time with the price of EKA now and Molybednum production on line and generating cash in Q1 06."

Has anyone seen the article in the Daily Mail about VOG only having 8 weeks cash left? Lots of chattering about this on the iii board....nothing here. Also understand RNS expected at 1130. Anyone seen this/heard anything??

Maybe this link will work:

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=405618&in_page_id=23

they are getting very nervous over on advfn due to the lack of news re raising money , speculation that Foo cannot get the placing price he wants - take a look

no position , waiting for rns - the rapid movement and wide spreads have made me nervous!

I wondered where everyone was!! Don't think I'll look over there...I'm nervous enough as it is! Thought there would be more comment here though??

we're in this together Mr Mole! sounds as though people are scaremongering to drive the price down-nervous but I'm staying put for now.