Victoria Oil & Gas Forum

The_Marin in response to your post yesterday i have some info for you. The new ENEO deal is at $6.75 mmbtu rising to $6.95 mmbtu. Before ENEO came back online the company was doing about 5 mmscf/d for thermal and industrial power. VOG have said many many times that thermal commands up to $16 mmbtu and Ind power is $13 fixed. Way more than ENEO. I haven't a clue as to why you say "So how much is 4.9mmscf/d in cash terms? I guess they are selling the rest of the gas to other customers even cheaper otherwise they would have given us an expected daily revenue rather than expect us to calculate it ourselves." It is very easy to work out revenue figures. Nothing suspicious at all. VOG will only give actual rev figures in interim and annual reports. Nothing corrupt at all about his company. They sell gas to customers. It couldn't be clearer. I have reported your post mentioning corruption as this is defamation. You are talking nonsense.

I find it strange why anyone would want to take up the open offer when you could have purchased as many as you wanted for less on the open market

No point in buying more unless you can get them at a sufficient discount to sell them again at a profit, I have been in VOG for years and there is no way I would add to my holding other than a straight buy and sell. Jam today seems the company's policy, with current cash burn there will probably be another placing next year to keep the directors in the salaries they have become accustomed too.

I don't think the share price will do anything positive today after the RNS, increase in borrowing from $10million to £20million, reduction in cash from $10million to $7million, lower sales than last quarter. We have all been told how well the company is going to do, but the only thing that really makes a difference is how profitable you are today, not what might be in years to come.

I dont think they should be paying any bonuses until the company makes a net profit, they already earn too much for a loss making company

BWLN share holders have managed to get rid of their board 'As a consequence of the business conducted at the General Meeting, Kevin Hart, Kerry Crawford, John Martin, Tim Sullivan and Philip Tracy ceased office as Directors with immediate effect.' This means that the deal for Bomono is up for renegotiation. it will be interesting to see how this plays out.

Interestingly if you look at this link you can see why COC are unhappy. [link]

We will find out how the market view the deal at the end of the day, depending on increase/decrease on either company is usually a good indication on how the deal is viewed.

I am unsure to the real benefits of the deal, it looks better for BLVN. We have a current capacity for 20mmscf, we currenty only have a market for 17mmscf, so we currently cant sell all our own gas. We have just paid a fortune to drill 2 further wells to increase our capacity by another 20mmscf. Why do we now want to pay BLVN for more gas when we cant sell the gas we currently have.

If they go up another 40% I will reach breakeven