Victoria Oil & Gas soared 10p to 124.5p after the explorer said it had raised £13m through a placing of 16.8 million new shares at 78p. The group, which is focused on developing its site in Western Siberia, boasted that the placing had been two-and-a-half times over-subscribed. Van Dieman Mines, steady at 22p, also unveiled a fundraising, albeit on a smaller scale. The group said it had secured £2.8m by selling 20 million news shares to institutional investors at 15p. Van Dieman will use the cash to buy two primary treatment plans and a tin concentrate clean-up plant which will help process the metals it extracts from its mines.
KEV921 - 30 Dec'05 - 11:10 - 17499 of 17677
Straight from the Wires
Russian gas supplies to Europe will continue - Gazprom
RIA NOVOSTI. December 30, 2005, 1:57 PM
MOSCOW, December 30 (RIA Novosti) - The Russian energy giant Gazprom said Friday that it would ensure uninterrupted supplies of natural gas to European consumers despite an ongoing dispute with Ukraine.
Russia and Ukraine have failed to come to an agreement on prices for supplies of Russian natural gas to Ukraine and the transit of Russian gas to Europe via Ukraine.
Gazprom has said it will cut off gas supplies to Ukraine on January 1 if the parties fail to clinch a deal. Gazprom CEO Alexei Miller said live on the NTV television channel Friday that Russian natural gas supplies for Ukrainian consumers would be stopped at 10 a.m. Moscow time [7a.m. GMT] January 1.
However, Miller also said Gazprom officials had convened for a meeting to approve "a detailed plan of measures to ensure uninterrupted supplies of Russian natural gas deliveries to European consumers."
ZENGAS - 30 Dec'05 - 12:18 - 17596 of 17679
With it being two and a half times over subscribed, as i said yesyerday, I reckon that institutions are behind some of this major buying in the open market.
The reality is that in three months or so these could be worth £4 - £5 per share on updates from the drilling at West Med. Don't underestimate it. The potential is £10 -£30 imho.
Look at Max Petroleum. They havent drilled a thing nor have they even a resource estimate on anything - zilch!. The institutions bought all the way from the placing at 35p £120m mkt cap, went into the placing again at £1 and a market cap approaching £350m.
Don't give your shares away here. The directors buying after the placing at 105p shows serious confidence.
DYOR.
ZENGAS - 30 Dec'05 - 12:57 - 17676 of 17679
Remember Degolyer and MacNaughton have CONFIRMED the 0.5tcf find as minimum and recoverable.
Fair value was £3 discounted from £5 though funding issue would slow share price climb until sorted (prior to confirmation yesterday and 2.5 times over subscribed).
Since funding, VOG have bought out the remaining 25.2% of the field they doid not own - putting 100% ownership in their hands.
With 100% ownership - fair value on the MINIMUM CONFIRMED RECOVERABLE 0.5tcf is £4 discounted from £6.65. Present price is £1.425 with over 180% upside to reach the brokers fair value target.
Anything materially above 0.5tcf will give massive, massive upside! D&M say possible 4.6 times upside to 2.3tcf and VOG themselves say more to come in relation to well site 104 alone. This alone has the potential for around 13% of all North Sea Gas! There has been no mentiion of the further upside from 2-300m bls of condensate.
This has only started to climb towards fair value in relation to the first confirmed recoverable 0.5tcf gas and with nothing for Kemerkol oil production. I believe the institutions who did not get their full potential in the placing are now buying in the open market. This has finished at the high of the day which suggests further upside in the short term.
Victoria Oil stock quotes
Victoria Oil stock charts
Follow this thread
