Victoria Oil & Gas: Fundamentals & Valuation Summary

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xxxheroxx - Fri, 29 Dec 06 :

To start with all resolutions were passed as shown in the RNS these were the ones listed which are on VOG's website.

To start the meeting Kevin apologised that the meeting was held today as its threw the holiday period however he went on to say that there was a good reason for it being held on today's date.

He went on to read 2 emails which he received from William Kelleher who was not present at the AGM as he was in Siberia which relate to an Update from well 103.

One of the emails he received was from Christmas day and the other was one that he received this morning.

The email from Xmas day mentioned that weather problems caused a delay in well testing as it was -45 degrees, as well as this Police had closed iced roads.

He then went on to say that the well was 100% rigged up and that they were expecting first flow results by Wednesday afternoon at the earliest.

The email sent this morning mentioned that the weather was currently -30 degrees. It also stated that they had been getting it ready to detonate the TCP's (Dont ask me what TCP's are as I dont know - I would say some sort of controlled explosive device) It then mentioned that there was approximately 550 meters more to go in the well in order to have it set up to detonate the TCP's.

He said that this will be hopefully taking place tomorrow where they should get results next week. He specified a time period of 72 hours where they will then have the first flow results. (My interpretation is probably late Wednesday or Thursday morning there will be some sort of an RNS with first flow results)

More to follow!!


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