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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

http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/rsm-default/201401130700074445X/

Down we go again then!

Sure has a curse on it, this company...

StockMarketWire.com
Victoria Oil & Gas, the emerging African energy utility company, has signed a loan agreement and Customs bond facility between its Cameroonian operating subsidiary, Gaz du Cameroun S.A. (GDC), and BGFIBank (BGFI) of Cameroon.

The principal facility of about $8.3m would be deployed by GDC to fund its share of near-term revenue producing customer connection work.

This included pipeline extensions for recently signed Dangote Cement and will also support the installation of Gensets to customers such as Guinness, Icrafon, Camlait and SCTB.

The Facility is for an initial term of 6 months, which is renewable once on the same terms for a further 6 month period, with interest payable at a rate of 7.25% per annum. It can then be converted into a 3 year term loan re-payable in 36 monthly instalments at the same interest rate.

The second facility agreed with BGFI was for a 12-month, $1.7m Customs bond to be provided to Cameroon Customs in support of the temporary import of the Gensets, which have recently been released to GDC following the grant of a temporary import licence by the Ministry of Finance and reduction in the applicable duty payable.

The Bond allows GDC to import the Gensets without payment of import duty for a period of one year from release. At the end of the year, GDC can apply for an automatic 12 month extension of this exemption, or the Gensets can be re-exported without payment of the duty.

Another fund raising exercise...once again....how many times is that now ?....I've lost count...

... as predicted :


Dil - 26 Oct 2013 02:35 - 2445 of 2454

Only thing Foo is worried about imo is getting the next fund raising away to keep him in the life he's accustomed too.

StockMarketWire.com
Victoria Oil & Gas said it and operating subsidiary Gaz du Cameroun (GDC) have signed a settlement agreement with RSM Production Corp in relation to the Logbaba gas project in Cameroon operated by GDC.

The settlement included:

- $16.3m paid by RSM towards the cash call for expenses issued by GDC on 23 December 2013 with agreement for an audit to determine the final balance payable by or to be refunded to RSM.

- The audit will be undertaken by an independent auditor, jointly instructed in accordance with the terms of the Operating Agreement. The audit is to commence in Q1 of 2014 and be completed within 90 days.

- RSM's Emergency Application to the ICC and Third Arbitration Request have been withdrawn.

- The Notices of Default served by GDC on RSM have also been withdrawn.

- The 2014 Work Program and Budget have been deemed approved by RSM with RSM to pay its share of cash calls for 2014 in accordance with the parties' Operating Agreement upon completion of the audit.

That was quickly settled,....I thought it would drag on for months... now might be a good time to take the plunge once again into VOG....

SOCAVER Thermal Gas Online
Victoria Oil & Gas, the emerging African energy utility company, today announces that its Cameroon operating subsidiary, Gaz du Cameroun ("GDC"), has successfully completed a new thermal gas connection with glass manufacturer SOCAVER.

The SOCAVER plant is now substantially online and is expected to consume an average of 400,000 scf/d running 24 hours per day, with peak demand estimated at 764,000 scf/d.

SOCAVER is a subsidiary of SABC breweries, a major drinks and beverage manufacturer in Cameroon. This connection supplies gas to up to six burners, following their conversion to gas from Heavy Fuel Oil ("HFO"). For several months GDC's team worked alongside SOCAVER to build the case for conversion. Both teams then worked together to implement the project and ensure a clean and safe changeover.

This represents the 20th thermal gas connection made by GDC since commercial operations began.

Operational Break-even Achieved, Cameroon
Highlights
· Gaz du Cameroun operational break-even on a cash flow basis achieved
· Average 3.2mmscf/d rate achieved to date during February 2014
Victoria Oil & Gas Plc ("VOG" or "the Company"), today announces that gas supplied to customers by the Company's operating subsidiary, Gaz du Cameroun ("GDC"), has averaged 3.2mmscf/d for February production to date. At this supply rate the Company is pleased to confirm that GDC is now above break-even on a cash flow basis.
This production rate has been achieved following increased usage by existing customers in combination with a major new connection made this month with Socaver, a bottle manufacturing plant and subsidiary of Cameroon's largest brewer Societe Anonyme des Brasseries du Cameroun ("SABC").
The average production rate of 3.2mmscf/d is an increase of 0.6mmscf/d from the 2.6mmscf/d figure announced in October 2013. The rate has been calculated by dividing accumulated daily production volumes by days under consideration and includes weekends and holidays when consumption is at reduced levels.
GDC has recently secured new customers including Dangote, Quality Habitat and Buetec for thermal gas provision. Gas fired generator ("Genset") installations are currently underway at existing customers' sites.
A dedicated team has been allocated to work with AES-Sonel, the national electricity supply utility. The plan is to provide gas - fired electricity generation at two existing power plants in the Douala area. The plants currently rely on heavy fuel oil to generate electricity for the local grid.
Commenting on the announcement today the Company's Chairman, Kevin Foo, said: "After making major changes within VOG and GDC, we are now seeing real increases in gas supply volumes. Achieving operational cash break-even is also an important milestone and we look forward to building on this momentum."

http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/interim-results/201402280701321590B/



Financial Highlights



· Operating profit for the period of $3.7 million (2012: Loss $3.7 million)



· Revenue for the period of $6.0 million (6 months to 30 November 2012: $1.7 million, 12 months to 31 May 2013: $6.9 million)



· Revenue during the period comprised:



o gas sales totalling $5.4 million at $16 per million British thermal units (6 months to 30 November 2012: $1.5 million, 12 months to 31 May 2013: $6.3 million)



o condensate sales totalling $0.6 million at an average price of $107.22 per barrel (6 months to 30 November 2012: $0.2 million, 12 months to 31 May 2013: $0.6 million)



· Improvement in liquidity of the Group with Net Current Assets of $12.3 million (6 months to 30 November 2012: Net Current Liabilities $27.6 million, 12 months to 31 May 2013: Net Current Liabilities $1.7 million)

Operational Highlights



· Inauguration of gas plant and pipeline by President Biya in November 2013



· Production levels rose from 2.0mmscf/d in July 2013 to 3.2mmscf/d in February 2014 and

Gaz du Cameroun operational break-even at these levels



· Collaboration agreement with AES-Sonel to evaluate supply of gas for 45MW of power generation



· All 1.5MW gensets cleared customs and at customer plants



· BGFIBank loan for XAF 4,000,000,000 ($8.3 million) drawn down



· Resolution of RDL- RSM arbitration



· Permits for drilling under Wouri River to access Bonaberi market received

StockMarketWire.com

Victoria Oil & Gas operating subsidiary Gaz du Cameroun S.A will start the 1km gas pipeline crossing under the Wouri River to Bonaberi.

Preparation work for the crossing, including ground surveying, has begun and drilling was scheduled to begin in May, with completion planned 40 days later.

GDC had completed initial project planning, including environmental and safety analyses and has received all the necessary permits, including the grant of Certificate of Environmental Conformity by the Minister in Charge of Environment, Nature protection and Sustainable Development.

Looks like the heavy sell institution is done. Held up well.
Future is looking positive

And I thought us Cardiff City supporters were optomists AK !!!!

Should be a rise on the cards here with all this gas they are pumping....the only worry is : future restrictions towards Russia....that is a problem....

If you look at the current price, I think Russian asset have been completely discounted here. Value zero.
I think they have done well to turn around business in very difficult period and did not give up after VOG was screwed on the Russian deal. If they made 9 m.... Increasing production, charging premium to current market price and the only supplier in the country ??? Well done to the board

We'll done to the board my ar#e !

Those clowns are the only ones who have ever made any real money out of this disaster of a company.

Must be due another fund raising soon to pay the boards salaries for another year.

Hold on, they have produced profit and delivered production levels. Signed customer.

http://www.victoriaoilandgas.com/

video looks good