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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

Kazakhstan: Kemerkol
In 2005 Victoria acquired 100% of the Kemerkol exploration and production licence, located in the Atyrau Oblast of Western Kazakhstan close to a number of existing oil and gas fields. Kemerkol is a 65 square kilometre oil field with 8.7 million barrels of proven C1 reserves and 26.3 million barrels of C2, with a further C3 resource of 25.1 million barrels.

In March 2006, Victoria began to produce first oil from Kemerkol following the successful re-entry of Well 20. During the following 18 months, production was incrased with further drilling and reach over 450 barrels of oil er day during 2007.
Production from the field has been temporarily suspended following a legal challenge to Victoria's ownership of Kemerkol during 2008. The Company believes that this challenge is totally without legal merit and is seeking to establish its good title to the asset in the Kazkh Courts, whilst considering damage claims in the UK Courts.

jkd .... i held shares in some other crap company which VOG bought out for shares

The fluctuation is smaller for the last couple days and smaller today
Symmetrical Triangle

3.85 / 3.90p +0.15p from earlier 3.70 / 3.75p

It has blown to the direction expected on the Symmetrical Triangle UP

At last,its moving.

'bout time too!

.

didnt u ramp this up years ago, skyhigh

yep, rather hastily I might say...
I've averaged down several times over the past 2 yrs but still well down.
thought VOG was going to fold up completely...it nearly did!

however, it's looking much better now but will take a long time to get back to my original buy in levlels..if ever!


still, onwards and upwards!

YES........ it has blown UP as it broke through the Symmetrical triangle, with a higher high than the last one 4.40p.
The volume is large 29M

It pays to make researh at the lower point of some shares

VOG

Fox-Davies starts Victoria Oil & Gas as buy, sees strong upside -- Wednesday, August 12, 2009

Fox-Davies Capital has initiated coverage of Victoria Oil & Gas PLC (AIM: VOG) with a buy rating and a 7 pence target price, an 87 percent upside to the current share price.

In a note, the broker said it believes that the current strategy of focusing on its gas field development asset in Cameroon is the right one, referring to the Logbaba natural gas and condensate project in the country.

Last month, the company announced it secured drilling services and cash funding for Logbaba from a local firm, and drilling of the first of two well there is scheduled for this month.

Funding for Logbaba is in place. In June the company announced an equity placing to raise 5.3 million before expenses and the extension of its Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd to 10 million from the original 5 million.


Under the deal agreed last month, Cameroon Holdings Ltd will provide a 1,000 horse-power drilling rig and drilling crew at a discounted operating rate and a minimum of US$4 million to a maximum of US$10 million in cash for well-site equipment.

FD Capital said: With the first well to commence drilling there at the end of this month and a still depressed stock price that does not reflect our prudent estimate of Net Asset Value, we believe this is the right time to take positions.

There is upside beyond our target price on the basis of the currently estimated upside on resources in both Cameroon and Russia, resulting in a risked-upside share price of 0.14. There is also a large scope to de-risk the venture given the lack of recent data in Cameroon and the early stage of appraisal in Russia, it added.

In Russia, Victoria holds 100 percent of the West Medvezhye gas and gas condensate licence near Nadym in Western Siberia, in one of the most prolific gas producing regions in the world. It currently plans to drill exploration Well 105 in 2010 and two further drills by the end of 2012.

Work on Victorias other project, the 100 percent helg of the Kemerkol exploration and production licence in Western Kazakhstan, is temporarily suspended pending the outcome of a legal challenge to its ownership of Kemerkol dating from 2008.

Victorie has repeatedly said the challenge is totally without legal merit and is seeking to establish its good title to the asset in the Kazkh courts, whilst considering damage claims in the UK courts.

that analysis is based on zero priced in for kemerkol.........i dont think we heard the last of this for some reason

This all seems pretty" incestuous", Cameroon Holdings provider of the rig and some financing appears to be owned by guess who..... Kevin Foo and his family, Fox Davies now punting the shares managed the recent share placing.

ps Cameroon exploration licence expires next Tuesday unless rig is mobilised by then, presumably explains why they need to hurry.

Hello, hello...the old Queen Vic is rising here....ahead of spudding in Cameroon ?

I see on another BB (advfn) that there has been a buy tip in today's IC .... usually the Ko'D for most companies ! but somehow it does look as though there's alot more substance to VOG's future these days !

Well at just over 4p....that is very low...

re - has been a buy tip in today's IC

From my UPS thread .........
INVESTORS CHRONICLE

Victoria Oil & Gas rides again
Created: 13 August 2009 Written by: Martin Li

BULL POINTS:
■ Near-term gas production from Cameroon
■ Substantial power generation opportunity
■ Russian oil and gas resources
■ Financed drilling programme
BEAR POINTS:
■ Ongoing Kazakh legal wrangle
■ Poor investor sentiment

Listed on Aim five years ago with the strategy of exploiting oil and gas opportunities in the former Soviet Union. However, its major prospects now lie south of the equator in a major energy development project in Cameroon, the first phase of which will see the company supply gas to a growing industrial market that is heavily reliant on imports for its fuel.

The company controls 60 per cent of the Logbaba gas and condensate field in Cameroon. This lies beneath Douala, Cameroon's largest city and major port, which hosts the country's primary industry. Logbaba was discovered in the 1950s by Elf. Four exploration wells all encountered natural gas (one flowed so strongly it caused a blowout and flowed uncontrollably), but were not pursued as Elf was searching for oil rather than gas. Logbaba then remained dormant for decades because no market for gas existed in the region. However, all that has now changed. The field is ideally placed to feed both Douala's industrial market and, more importantly, Cameroon's growing demand for electrical power more widely.

The first phase of the Logbaba project will see Victoria pipe gas directly to Douala's industrial users, which currently import liquid fuels at around double the cost at which Victoria will be able to supply gas. With fuel conversion costs in the order of $25,000 (14,700), industrial users should achieve payback in under half a year. Victoria has already signed letters of intent with potential customers representing 8 million cubic feet of gas per day (mcf/day), around half the estimated market size of 15mcf/day. This market is expected to expand as Cameroon industrialises. Thirty-year agreements will fix the gas price at a favourable $16/mcf for five years.

VICTORIA OIL & GAS (VOG)
ORD PRICE: 3.65p MARKET VALUE: 27m
TOUCH: 3.55-3.75p 12M HIGH / LOW: 13p 2.5p
DIVIDEND YIELD: nil PE RATIO: na
NET ASSET VALUE: 35* NET DEBT**: 3%

Year to 31 May Turnover ($m) Pre-tax profit ($m) Earnings per share () Dividend per share (p)
2005 nil -1.25 -2.04 nil
2006 0.17 -1.15 -1.21 nil
2007 0.37 -1.32 -1.17 nil
2008 1.73 -1.17 -0.70 nil
% change +363 - - -

NMS:50,000
BETA:1.47

*Includes intangible assets of $100m, or 35 a share
** excludes equity fundraisings post period end (see text) 1=$1.70

The first of two development wells should start drilling in September, adjacent to the Elf discoveries, and Victoria has raised around $25m this year to help finance these wells. The proximity of the field to its customers (3-15km) greatly reduces the costs of building pipelines, such that the total cost of processing and transmission infrastructure is estimated at just $12-15m. First revenue, potentially $1m per week, is targeted in mid-2010.

Once Logbaba is in production, Victoria will drill beyond its core area, hoping to prove that the gas-bearing sands extend over a larger area than has been explored so far. However, Logbaba's biggest potential comes from servicing the huge demand for power generation. Around 90 per cent of Cameroon's electricity comes from ageing hydroelectric plants, which the government wishes to replace with a gas-fired power station in Douala. This could require 75-100mcf/day, for which Logbaba would be the natural and only supplier.

Victoria also retains interests in Eastern Europe, including the West Medvezhye licence in Siberia which lies close to Gazprom's vast Urengoy field. However, ownership of the producing Kemerkol licence in Kazakhstan remains mired in legal wrangling and this has badly affected investor sentiment.
SHARE TIP SUMMARY:
Buy

Even discounting all the Eastern European operations, the investment case looks attractive. In its 2008 reserves report, consultant RPS Energy estimated that the proven and probable Cameroon reserves of 13.97 million barrels of oil net to Victoria carry a net present value of around $169m (100m). Moreover, recent analysis by broker Seymour Pierce estimated that the London exploration and production sector trades on an average ratio of enterprise value (market value plus debt) to proven and probable reserves (EV/2P) of 5.23 per barrel. At its last balance sheet date, Victoria's ratio of EV/2P stood at under 1.20 per barrel. One reason for the vast discount is the fact that the Victoria story, particularly the full potential of the Logbaba project, is not currently well understood. As Logbaba's potential becomes better known, the discount could narrow considerably. Buy.

Second day of large volume, and most likely today beating yesterday's

add another 1 or 2 and i'll be happier, but can't believe those heights will be seen again ...... certainly shan't buy but shall sit with the 30k i inherited