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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

Yeh ! what a bummer ! We'll need to wait another 2 months for the news we've all been waiting... SP will most likely drift down for the next 4-6 wks so will habg on for now as still in profit (just about!)

I'm going to keep an eye on this through April. May get some interesting info from EGM and 106.

For now, risk is too high for me and news in RNS way below what was expected.

Summary from top of RNS:

Development Update on West Medvezhye Project, Russia

Fracture stimulation of Well 104 and drilling of a twin well to optimise
on-going testing with results expected May 2006
Drilling commenced on appraisal Well 106 with completion expected April
2006
Drilling commenced on new exploration well, Well 103, with completion
expected in May 2006

Sounds to me like they are taking their time and making sure they've got their facts correct, maybe there's more down there than even they anticipated!!

This could be an amazing find!!! remember Cairn anybody

Let's see where the the SP support level is after the intial panic subsides and maybe top up again.

On the other hand this could be a 'cats on the roof story'!!

If they are, 'maximising the information gathered' they already know something that could be released if only to steady the SP.

Is that fish I can smell?

Still in though having missed the fall whilst unloading the wife's shopping - if only she knew!

Ellio - are you thinking of something specific with Cairn or just the dramatic rise in the SP? (Which is fine by me!)

My point of view is that I'm not into panic-selling, so am trying to look on the positive side: Firstly, there's lots of potential for good news over the next two months.

Secondly, although the Well 104 story appears inconclusive, it may be good news in disguise. I mean, surely nobody drills a second hole to almost the height of Ben Nevis without being seriously convinced that there's gas down there ????

Finally, Wells 103 and 106 will test two completely independent structures, leading again to the possibility of a gas hit. This in one of the FSU's most prolific gas regions.

Between these possibilities plus the fact I can't trade in and out quickly due to being limited by banking compliance regulations, I'm inclined to hold.

ST,

Just because the potential seems huge, they are exploring in a region that is proven and as you say, they wouldn't continue to drill for no good reason?

I want the whole news not just a snippet to be able to make a reasonable judgement, but steady as she goes imo.

Dead right Ellio. I hope our optimism will be justified in April/May !!!

It's irritating when things don't quite go to plan, but look at NOP over the last six months or so - went through a spot of bother in the middle of 2005 but now motoring nicely.

Soul, what is "limited by banking compliance regulations"?

Disappointing to say the least,perhaps to much expected from one well result?
But then the independant's D&M are known in the business for their cautious
estimates.
Agree with soul and ellio's points, so another month or two before we get to know.
The saying transfer of funds from the impatient to the patient might just
apply here?
cyril

Myownmoney,

Apologies, I probably confused a few people there!

I work for a custodian bank looking after pension funds' assets (NB this is not the same as being a fund manager, so I have no more stock-picking expertise than anybody else on this website) and hence am obliged to observe so-called "compliance regulations" to ensure that I am not involved in insider trading or day-trading. These include holding stocks I buy, (or not re-buying any I sell) for a minimum of 30 days. Hence I can't move in and out of stocks as quickly as some of the investors you'll meet on these bulletin boards.

Sometimes it's a drag, but can also be quite positive as it obliges me to think carefully about my trading decisions.

Soul, thanks for explanation.
I though there was something I had to watch out for when trading, not that my level would do any harm.
Roll on the good news for VOG.

After taking stock of things today, I have come to the following conclusion regarding Well 104:

It is not a 'duster' and they have had a positive result from it. However, they obviously feel that there is the potential for a lot more- hence the fracture stimulation.

I say this as the MD talks about 'maximising the information gathered', so they have obviously got something from it.

I also believe that the bit about hoping to 'further increase the potential recoverable resources at the project' is based upon the test results they currently have (the 'information gathered') from Well 104.

Therefore I believe that any talk of Well 104 being a 'duster' is nonsense.

In view of this, the best course of action is to sit tight for a few weeks. If they had announced this Developmental Update a few weeks ago, the share price probably wouldn't have reacted in this way, as fracture stimulation is no big deal in this game.

Nothing has really changed except the time frame

But time frame or delays in any business means money!

dt014... hope you're right mate! am holding on for now...normally, when I hold after releases like this I usually end up regretting it !.

Maybe it is a "duster" and the're just trying anything possible to minimse the impact when they announce the disappointing outcome... perhaps the're just making sure that they have tried everything and left no stone unturned....

Still going south but am a commited VOG fan - I reckon the support level will be 2.00/2.10 - any takers ?

crap isn't it !

Can't see why the've marked it down so badly if the news is going to be ok but just delayed!... it's an opportunity for them to pump and dump. the've pumped.. so now the're dumping... hopefully we'll see the bottom soon and it'll be time to top up with some more...

sky, mm's are there to make a market and they make money by trade volume. They mark it down and people sell...they make money. Just part of the game. Personally, at this stage I don't see this as a sell signal. There's no doubt that there is much good news factored into the price, but I'd rather hold than let the mm's have my shares cheap. I DO NOT agree that the price can be marked down 20% odd on this news. Just my opinion chaps!

I'd consider the current prices to be a buying opportunity - but am already overweight this one so am just sitting it out till May. Definitely not scared of the MM's or the bears.