">
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/

Powered by IST's


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

and a further bit from Ambrian ...... I think I'll just stay put .... another bit

Further to yesterday's news and the report which we sent out, Victoria Oil & Gas is currently trading at 95p, which is largely in line with our expectations.

The 25m bbl of existing 2P reserves which are associated with Kemerkol (which we value at 167p), once applied to the NAV multiple of 0.65x gives a value of 108p. Obviously, in light of yesterday's announcement, there will be some discount applied to this price, which explains why the price has been fluctuating between 91p-96p this morning.

What should also be noted is that this price excludes any value for the company's West Medvezhye asset or the C3 reserves (40m bbl - adjusted) for Kemerkol; if one includes these it adds a further 19p and 100p respectively.

Clearly there will be further volatility ahead as the market continues to react to yesterday's news, but we would take courage from the Kemerkol reserves, which are relatively low risk and low cost, and have the potential to be producing 2k-3k bbl by the end of calendar 2006. Whilst the average for the company will be closer to 1.3k by the year end (May 2007), which could generate up to $1.2m per month in revenues.

The exploration focus is now firmly fixed on well 103, with results expected in Q4. Until then we expect the market to be very cautious in its involvement with the stock.

- Anthony Nathan
Ambrian is engaged as corporate broker to this company.
Recommendation - Hold

There should be a few opportunities to add over the coming months, IMO. I notice that strengthening oil prices are at present not having much of an effect, which I guess means that things won't really take off until VOG gets closer to the action predicted for the end of the year.

Couple of useful notes though ....... suspect Ambrian was told to keep the tone very muted

Agreed. It would be a very big disppointment if West Med didn't produce the goods, but I can understand the present mood of caution.

Soul ....... shame you are based in Frankfurt as would be nice to share a bottle of something decent ...... Unfortunately my biz travels only take me to Hamburg and just occasionally Munchen

Dana Petroleum (from Annual Report figures to 31/12/05)

Group Reserves 111.5 mmboe
Contingent Resources 124.3
Total Resources 235.8

Production 2005: 19,683 boepd @ $42.24 per boe
Net Cash 91.8m

quite so, bonfield ..... but your point is?

have got enough 6200. what a gift.

Any more bad news and this could easily fall to 80p at which price I may well buy.

Cynic, a pity indeed, but should our paths ever look like crossing, we'll have to set something up.

well i shall prob be in hamburg around 24 july and if you are ever in london that is easy as i work/loive only about 30 miles west

Looks like London, then, as I fly via LHR whenever I visit Bournemouth (not more than about twice a year at present . . ) Will have to hope my health permits as well. All in good time, I am sure :o)


Mitzy, are you thinking of any particular bad news? I would have thought things are a little quiet on the operations side at the moment, leaving little scope for another negative announcement until the next appraisal drillings towards the end of the year. I'd expect the SP to drift a little in the generally uncertain market, though.

or have I missed something?

No Soul, you have missed nothing ...... see my posts 866 and 868 of earlier today

No need to worry soul.

yes, cynic. my post got interrupted! my point is you cannot compare apples with oranges. Dana is a producer, nothing like VOG. And it's almost all oil not gas, mostly North Sea. Same with Burren I'd imagine, oil I mean. Different sectors, different rules of engagement.

If you look at similar companies, Empyrean, Max P, Gulfsands etc you'll see most of them are still struggling to get back off the floor but none have done quite as badly as VOG I don't think. DNX,BUR, and the others in the producing sector are recovering very quickly. Different risk profile.

Until VOG stops falling, I cannot confidently call it a buy. And if it's cheap, the Directors should be buying it. They did before at 78p (a discount to the 100p mkt price in November), so where are they now. We're not in a close period are we?

As for Ambrian, they are joint house broker so what they say is sales literature not research.

these mm are so predictable!.

Are directors not in a closed period preventing them from buying? Also lets not forget options already held at various prices....

Cynic, just like to say good posts today telling it how it really is!!

Bonfield ..... though you are right to say Ambrian has something of a bias, their reporting nevertheless has to be responsible and not just hype ..... that alone makes their opinion worth reading

What I find a mystery is that 21st June MAN Financials sells their whole holding in VOG. Bad news arrive on 29th June, price plummets and today MAN buy back into VOG !!! Something fishy ?????

For pumben

I don't think that MAN Financials sold their whole holding. I believe that they just sold enough to put their holding at less than 3%, thus making their holding non notifiable.

Regards