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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

So whats the EGM about then folks???

They want authority to issue shares in the future. Possibly got a couple of acquisitiosn lined up. I'm interested by the timing. Why not hold it sooner? Unless they want to offer a couple of sweeteners in the form of 104 and 106.

that's a way off! expect a lot more news then!! time to top up?????

300p soon one expects!

http://www.victoriaoilandgas.com/archive/060313Cletter.pdf

Having considered this yesterday, my view is this:
1. VOG already have an acquision target....and a rough estimate of costs to purchase it and the potential asset value to VOG.
2. To buy the target, VOG have to get shareholder agreement to issue shares to buy....they will therefore do this after the (good) results of 104/106, so that shareholder confidence will be high (hence the EGM in April and not sooner).
3. After the results of 104/106, the share price should be at a premium and therefore VOG will have to exchange less shares for the target.

NB1: VOG seem confident that the new target owners will accept shares instead of cash in the deal, which bodes very well for the results of West Med....as why would a new partner choose shares instead of cash, if the previous partners had lost out...
NB2: Remember the directors holdings....far greater than ours.

Yes, I acknowledge that I am being overly optimistic (so no ramping comments please)....but thats how i see it for now.

D,

Interesting points; you may well be right. However, being slightly pedantic, I would query whether VOG are bound to issue shares as consideration for a new acquistion. They could just as easily issue the new stock in a market placing and plan to pay for any acquisition in cash (as SBE has recently done).

Could VOG not also be planning to raise more cash to speed the development work on existing assets? This would also bode well for an imminent news release regarding 104/106.

Theres definately news, real news on the way, share price is dipping in readiness imo, something happening. hope it's good!

Can someone explain to me how they can issue another 200 million at 0.5p, when the current sp is 240p, and why this won't simply dilute the sp significantly when they are issued??

Have I missed something here or is this not bad news for the current sp??

This is not a deramp, as I have a vested interest in VOG, I'm just reading it as increasing the no. of shares by 200m must surely dilute the sp significantly?

Cheers,

H

Further thought - is it the difference between "authorised" and "issued" shares that is important?, i.e. they can authorise as many as they like, but issue them at an agreed price at a later date?!

If this is the case, and I have answered my own question, then I can only see this as being good for the sp and VOG, and would tend to agree with the previous summary provided concerning purchases.......

Please ignore my posts - I'm an idiot who had a brainmelt!

:D

LOL - Hi Aero!

HEAVY SELLING! OR TREE SHAKE?

tree shake? Nobody who thinks that well 104 is going to be successful would be selling right now. I'm not normally a conspiracy theorist, but if I was an MM I'd be trying to lay in some stock on the hopes that the reserves are going to be confirmed any day now . . . I choose to believe, even though the SP has dropped 10p while I was typing this!!

If I had some spare cash, I'd add, might do a deal to free some up, short term target still 300p?

Makes sense to me. Although I prefer medium-terming this out to around 9 :o)

BTW the SP has now recovered 5p - clearly a few big lumps of stock going through the system? I also notice that about 74 millions' worth of CNE has been traded today; it could be that VOG is feeling the effects of some sectoral churning going on.

don't panic!!!

Ellio, you have never seen me cooler . . . :o))

Bounce late morning/midday, up 6.5 on the day although the interval from the lowest price is more like 16. Nice to see some blue after all this red!

I notice SBE is doing similarly; meanwhile NOP, which has been rising like crazy the last few months, has dropped 4.

Anybody have any inclination as to what the E.G.M. concerns.