Victoria Oil and Gas (VOG)

After the recent financial report for Victoria Oil and Gas  I took the decision to buy more shares as it seemed to me that it was a no brainer, that if VOG were buying 20 more gas units for customers then it was bound to be a good buy. Since then the sp has dropped and I can't understand why so today I rang VOG and asked if I could speak to Kevin Foo. To my surprise I had a 10 minute conversation with him, in which, he was very frank when I asked why the sp was where it was. Obviously, I didn't ask price sensitive information but he did give me a clear warts and all explanation of why he saw the sp where it was and what was needed for the sp to rise. I found it refreshing that he took the time to speak to me and explained why he thought the sp was where it was. At the end of the conversation I felt that I had made the right decision in buying more shares. As he is the largest individual shareholder, he is as keen as anyone that the sp goes up and reflect all that VOG have achieved in the last 3 and a half years. I see it as a matter of time now before the sp starts to rise. I have an average of just under 4p so I hope it goes above that before I pop my clogs!!

Excellent News Today!!!

At last some excellent news from Victoria Oil and Gas and Red Rock Resources!!!
VOG gave an update on their Logbaba gas site in Cameroon  and they are now testing the pipework before finally delivering gas before the year end!! This is great news and they also mentioned that they will be selling condensate from the gas plant so that is an added bonus So I am looking forward to the switch on of gas!

RRR published their year end accounts which were very positive and the sp went up by 24% at one point, it still needs to go a lot higher before I breakeven but it is a step in the right direction and does give me confidence in my investment. Keep up the good work guys!!

Frontera Resources FRR

A nice RNS this morning from Frontera Resources FRR . Basically they have found a lot more gas at the Mtsare Khevi gas field, in fact, 5 times more than expected and they are only 10km away from gas network. The sale of the gas will provide funds to continue with the expansion of the development. The big question is, what effect will it have on the sp????? 
Also interesting to note that the price of gas is between $4 to $6 per mcf compared with $16 that VOG are getting in Cameroon!!

Volatile market!!

Its been a grim week on the markets and as a result it has been very volatile, down on Tuesday and up on Wednesday!! My pf is looking pretty grim despite some good RNS from Edenville and Pinnacle but I am still 30% down and waiting for one or more of my shares to BOOM!!
It is the presidential elections in Cameroon on Sunday 9 October so with any luck VOG might improve after the elections are finished. I don't think the outcome will have any impact on VOG but it will remove some uncertainty in the minds of investors.
I am waiting to see my dividend from GNC hitting my account any day soon and looking forward to the next divi as I will have considerably more shares!
PTCM is still suspended and it will be interesting to see what the sp is after they start trading again. I would be happy if they were trading in the 0.20's  and there is some talk of consolidation of share value, possibly 100 or 50 times! We will have to see.

Weekly Roundup

Well, it's been a bad week in the markets with the Greek debt crisis. My portfolio is down 30% as are many other peoples'. I just read an interesting article stating that a number of hedge funds are going long on gold and short on gold miners! There was a similar situation to this in 2008 and it recovered about 7 months later. I am not panicking and not selling any shares at a loss as I don't need to realise the cash at the moment.

June is the month when there should be news from a number of companies and there is only 2 weeks left so I am hoping for a little excitement soon. I am expecting news on PTCM, PINN, BMR and RRR are committed to giving an update RNS every fortnight!

VOG is slumped down around 4p when it should be approaching 7p but in Q4 the situation should improve dramatically. It is interesting to note that Cameroon are keen to develop industry in the country and for that VOG are well positioned to supply gas for factories and homes.

Victoria Oil and Gas VOG

Victoria Oil and Gas   issued an RNS this morning and for me the best bit was "a further 10 GSAs which have been contractually agreed subject to legal due diligence and final approval."
Certainly VOG are keeping shareholders up to date as their website is an example to others Whilst the sp has fallen of late I see no reeason for this and with 10 more customers almost signed up, when the gas starts flowing in Q4 then the money should start flowing in. This is my biggest holding and I see no reason not to continue to have full confidence in the company

With revenues flowing it will enable then to explore their site in Cameroon more and West Med in Siberia. Go VOG GO!!

Victoria Oil and Gas VOG

Victoria Oil and Gas have got their licence and on good terms. SNH, the Cameroon state oil company has a 5% stake which was negotiated in 2001, whereas later companies have had to give a higher percentage. Gas should be delivered in Q4 this year which will generate revenue. In addition, VOG have bid for exploration permits in Liberia, they are still awaiting settlement of their Kermerkol field even though it has been written off in their accounts and finally, the jewel ion the crown is the West Med field, next to Gazprom in Russia.

VOG’s future now looks a lot brighter and with 28M shares traded after hours on Friday, I believe that the opening sp should be higher tomorrow.

Tristar Resources TSTR

When I looked at my TDW accounton Tuesday I found that I had some spare cash!! So I re-bought some Tristar Resources TSTR shares at 1.16p.In my opinion this share is going to boom in the near future. In view of the way China is limiting its exports of rare metals and at the same time increasing the prices, when Tristar Resources TSTR start producing its antimony the sp will move sunstantially. I want to increase my holding now before the sp starts increasing too much. However, to do that I have to sell some of my other shares.
The shares that are causing the most frustration are Victoria Oil  and Gas VOG and Porta Communications PTCM. VOG are STILL waiting for their licence to be signed in Cameroon and with PTCM I am waiting for them to announce an acquisition. The sp of PTCM has dropped from a high of 0.35p to 0.15p in 2 months and I am sitting on 1.6M at 0.24p average so I am not wildly excited. I don't want to buy any more because they are nearing 25% my portfolio.