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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

This is from IEC's rns on friday:

Fraccing is a recognised, proven and widely used method of stimulating and
enhancing oil flows from tighter reservoirs. It has been successfully used by
Imperial and the other major oil companies operating in Western Siberia making a
material difference to critical flow rates.

I found the following on a website discussing a public enquiry into an Oil and gas company's proposal to drill a twin well. The link is:
http://www.record-eagle.com/2005/aug/25gas.htm

To my mind it makes VOG's proposal to drill a twin well look exciting,especially reading the last sentence.

"Oil and gas companies want "twin wells" between 25 and 200 feet from existing natural gas wells. The second well would collect minerals from the top layers of the formation, while old wells would continue to collect from the bottom layers. The industry says twin wells will create a shorter production period, reduce environmental exposure and surface use.
The intention of the producers is to drill the wells on existing sites in projects where capacity is available to produce this gas."

TAKEN FROM ADVFN-concerned about.

Tiptree429 - 2 Apr'06 - 21:29 - 16916 of 16916


Incredible article showing what has ACTUALLY been acheived in RUSSIA with the use of fracing.

I like the quote "In TNK-BPs Rospan high pressure gas condensate field, which sits on the edge of the largest gas reserves in the world in northern Russia, fracturing resulted in more than tripling delivery from a single well."

It would also seem that some 3,000 wells used fracing to increase production in russia during 2004.

Tip



Fracs at forefront
Alongside drilling, TNK-BP is actively applying several other measures to improve the performance of its reservoirs and wells.

One highly successful technique is that of hydraulic fracturing controlled fracturing of the rock in a reservoir formation to make it more productive, thereby allowing more oil and gas to flow into the well. The basic procedure is to pump a viscous liquid gel into a well at pressures high enough to initiate a crack, millimetres wide, which propagates into the oil bearing zones (see link to diagram, below right). Once the desired crack geometry has been attained, avoiding water and gas zones wherever possible, a proppant very small beads of sand or man-made ceramics is added to the gel in increasing concentrations so that the proppant packs the frac, holding the fracture open and creating an enlarged and more permeable pathway to the well. The gel that has moved into the reservoir breaks and turns back to water over time.

In the largely sandstone reservoirs that we have in Russia, the permeability increase in the fracture achievable by this technique is measured in factors of several thousand, explains Martin Rylance, leading frac specialist in the well interventions team.

Fracturing is a well established and widespread technique, and was being practised in Russia before TNK-BP was formed. However, we have introduced more sophisticated methods into the market based on the latest technology, with some very positive results. On average we are able to increase the production from a well by two to three times, after a frac, which will last for some time, and the additional oil can be accessed for reasonable increases in the cost per barrel produced.

The amount of fracturing activity and benefits are worthy of note. Worldwide, the industry estimates there are up to 15,000 fracs a year, says Rylance, with about 3000 of these in Russia alone. In 2004, TNK-BP carried out 1250 fracs with 1400 planned for this year. Thats over 40 per cent of Russias fracturing activity and 10 per cent of the entire world market, adds Rylance. In 2004 our extra production volume due to fracturing was up by 50 per cent compared to 2003.

By smarter fracturing application and better quality control, TNK-BP has seen the cost of fracturing become more competitive. For example, in part of the Nyagan business unit the volume of oil delivered has been doubled for about $0.8 per barrel, around 40 per cent of the previous cost per barrel. In TNK-BPs Rospan high pressure gas condensate field, which sits on the edge of the largest gas reserves in the world in northern Russia, fracturing resulted in more than tripling delivery from a single well.


Click the link below to view panel 'Fracing in action'
Enlarge image d

Underpinning the success of this process is a strategy of selection, design and execution, which is continuously improving. The myriad of potential candidate wells is being tested and ranked for fracturing applicability, in order to help identify those wells that will enhance the oil delivery most efficiently. The most advanced software programs available are being applied to design the fracs in detail, including NSI Technologies StimPlan a commercial 3D frac simulator based on a finite element analysis technique which originated from BP and ARCO funding in Alaska. The fundamental mathematical formulations have allowed the software code to be modernised and improved as computing power has increased with time. StimPlan has also been translated into Russian with three training courses for TNK-BP employees completed to date and additional specialised training planned.

Good execution of the frac is crucial to the success of the job, notes Rylance. There are about 35 full fracturing spreads in Russia, including the big international service companies, and we work with most of them. As TNK-BP is performing around three frac treatments each day, we have up to six to eight fleets pumping at any one time a major logistics challenge given the distances and remote locations involved. We endeavour to have a fully trained supervisor working with each spread to ensure the desired standards are applied. Some of the Russian fracturing companies have come on in leaps and bounds since we started and are comparable to many in the USA. They want to be the best.

TNK-BP is introducing other techniques into Russia to improve its fracturing successes still further.

New, lower viscosity gels are being used to control frac geometry and reduce the chance of breaking into water zones, while the proppants will increasingly be tailored some of them manufactured in Russia to suit the well. One example of this is the use of resin-coated proppants which bond in the cracks to prevent the material flowing back into the well-bore this flow-back control helps prevent downhole pumps from mechanically failing. To improve the efficiency of the fracturing spreads typically a fleet of 10 to 15 trucks carrying pumps, tanks, blenders and chemicals, sometimes working at -40˚C hydration units will be employed to speed up and simplify the gel blending process into a continuous operation rather than an hours-long batch process. The end result will be cheaper fracs and more efficient operations. Finally, coiled tubing, an area of particular BP expertise, will be employed to clean out the bottom of wells after fracturing, which will result in the wells being put back into production more rapidly.

http://www.bp.com/genericarticle.do?categoryId=9004378&contentId=7007827

dthompson014,

thanks for those excellent posts, adding some great illustration to the definitions I provided - it's good to get some hard facts rather than a lot of the fear, uncertainty and speculation that has been going around recently. Here's hoping that VOG will experience the kind of positive results that others have reported.

SP off a penny or two this morning - I can't believe that some people are still dumping VOG. If they'd read what we've just posted here, I think they'd be adding. Must be a lot of nervous PI's who aren't in the know, as I can't imagine that the institutions would get caught out. Roll on May !!!

There will be a lot of people locking in profits for this tax year.
Expect a resumption of the upward trend once the new tax year begins on Thursday.

;o)

You're right. Being locked into the German tax system, I tend to forget these things :o)

I'm really not expecting anything to come out of the EGM regarding news, although if one or two of you have a chat witht the directors, you should get some kind of vibe as to how things are going.

Let's face it, nobody knows when the news on 106 will come, early, mid, or late April beginning of May, but what we do know is that 3 doses of news is due within 8 weeks. Not long to wait for what will definitely be the 'make or break' in terms of VOG future.

They seem to know what they are doing however, and their statement at the interims on Feb 24 was extremely positive. I very much doubt that with testing ongoing prior to the interims, they would have posted their plans for 2006 in such a forthright manner if there were problems.

Let's look at the facts:

-The MD has already stated on record that he thinks VOG will be a $1bn company by year end.(If you trust him!)

-The interims clearly state that the directors 'feel that there is still significant value from your company still to be realised and we have the ability and desire to realise it'. Very bold statement to make at the time of 104 testing.

- The last RNS did not have one single negative sentence in it. In fact it finished by saying that in coming months, they 'hope to further increase potential recoverable resources at the project'. It's only the timescale that has changed, not the potential for West Med, as far as they are concerned.


I think in summary that maybe some of us are expecting a little too much too soon. I say that as the interims told us 'that a great deal more work must be done on the property in order to attain D&M's best estimate recoverable resources at the project'. This is probably why they are drilling the second well at 104 now, to 'maximise the information gathered' as Bill put it. There would be NO information to gather if there was nothing to go on!!

Patience is the key to this one, and I wouldn't be surprised if they announced 103, 104 , 106 and upped estimates in a single MEGA RNS in May sometime. Doesn't bother me, whatever.

I wonder if there will be an RNS before the EGM,maybe an update on KEMERKOL,increase in production levels perhaps!!!!

Any news from the EGM yet?

seems like the results are out lets hope its good news

Victoria Oil & Gas - Result of EGM
RNS Number:1342B
Victoria Oil & Gas PLC
06 April 2006

6 April 2006


Victoria Oil & Gas Plc


Victoria Oil & Gas Plc announces that all resolutions proposed at its
Extraordinary General Meeting, held earlier today, were duly passed.

Is that it??

Yes.

Oh, and the SP's dropped again: 210/215, down 5.25p.

Doesn't faze me - May is going to be a blinder and I'm looking forward to it :o)

post from other board (xxxheroxx)
this chap posted these bits on way back to work from egm.

Ok ladies/gents the moment you have all been waiting for. A bit of feedback from the EGM. Can only apologise I have work at 2pm so I have to rush this however I know your all eager to find out. I took notes so I will give you an insight to what I picked up on. Read my next post.........
Ok to start with Mr FOO and the management were pleased to announce that everything was on schedule. There were three resolutions which were 1) Increase share capital 2)Directors to allot shares 3) Allot shares for cash. The majority of peeps in attendance voted in favour of the above
Spoke about well 104 apparently they are waiting for materials to arrive which will take approximately 2-3 weeks to arrive.

With regards to well 104, someone asked why a futher well was to built. I did not record the exact answer. However, something along this line was said. The well hole was to small for the volume of the flow causing it to 'choke'. 'choke' was the word he used.

IMO they had a v.large flow, probably larger than anticipated and it got caused problems. Thats why they have decided to use fracture stimulation to unlock the full potential.
Anyway with regards to the results (RNS), he did bring it up and he stated that the market had high expectations.

He explained the difficulty of working conditions out there. Permafrost (Dont know what it means)LOL and also that at times they had equipment shortages.

It was said how they had someone in place to keep down costs and to make sure things were done on time.

Sorry if this is all over the place. I did just scatter down notes so thats the reason.
They spoke about kermakol. They said everything was going well. Apparently in the last 5 days they have been doing something to the reservouir pressure. It was said that they cleaned the well today and they will turn it on tomorrow. (this was done to allow all the build up to come out, salts etc and other things that i didnt note)

Ohh there was really good news, apparently it produces with absolutely no water. He said the quality of oil was good producing 34-39api (like diesel). (Something I will have to look up later)
He said something about well 45. I think in kermakol, he said that they are hoping to produce a further 150 barrells per day in the next 2 weeks.

Stating that they hoped for 400 barrels of oil per day between now and the end of the month.

1500-2000 barrels of oil by the end of the year.
This was very interesting.
Apparently they are selling the oil they produce to a freight forwarded.
They cant export it until they get an export licence.

He mentioned that they were hoping to try and get one at the end of the 4th quarter. (Whilst this was being mention Will Kelleher said we had got one before, dont know if this was for another company that he used to work in but he seemed confident about it).
Anyway I have a bit more to list. I will try and stick it on here when I finish work tonight.

With all my last posts I can only say they are as accurate as the notes that I took down.

Anyway to those that appreciate the feedback

Thanks Jimward9 and to the guy who posted - I have just upped a bit more VOG into my coffers - wish I could make it more, but am happy to sit pretty, am sure this is going to fly soon.

Thanks Jimward9 and to the guy who posted - I have just upped a bit more VOG into my coffers - wish I could make it more, but am happy to sit pretty, am sure this is going to fly soon.

TAKEN FROM ADVFN.Gooner I agree with you. WK obviously couldnt say that but it is usually obvious when you are face to face with someone and they are trying to ramp something up there was absolutely NO indication of us having anything to worry about re 104 or the other prospects.

One thing I forgot in my report which I found interesting, it was around the point when KF was telling us it was no time to sit back because of all the good prospects out there. There was a quick dialogue between KF and WK about the time they spend on new potential and they agreed that at least 30% of their time collectively is spent on new potential. It seems there is a guy (Nigel I think) who is the master at digging around the FSU and finding forgotten treasure. KF said that only in the FSU are there assets to be found selling for below their full value and that VOG was hot on their trail. There was then another question whether VOG was looking at countries other than our present locations and they would only say that to date all of the FSU and satelite states AND Asia were likely targets. Surely big enough to keep us busy for a while.

morning all,
off topic,
might be worth having a look at MRP, looks like about to breakout with good news imminent.
Dexter