VOG 2005 New Thread

mstaub

The West Med reserves aren't yet confirmed they are estimated resources by an independant consultant, big difference. VOG need to do further testing for mid 2006 to get the reserves confirmed, see the RNS extract below.

RNS Number:1936U
Victoria Oil & Gas PLC
16 November 2005



Half a Trillion Cubic Feet Gas Resource Discovery Confirmed by DeGolyer &
MacNaughton at West Medvezhye, Russia

* Half a trillion cubic feet ("Tcf") recoverable gas resource confirmed by
independent consultants DeGoyler & MacNaughton ("D&M") from first discovery
well
* D&M predict a maximum upside estimate of 2.3 Tcf, a 130 fold increase
from 16.6 billion cubic feet reported by the Company in August 2005
* Three further exploration wells to be drilled by mid 2006 to explore
additional gas potential and to upgrade resources into reserves
.......
Reclassification of the above mentioned resources into reserves is conditional
on a successful well test of the existing Well 104 and the drilling, completion
and successful testing of additional wells.'

Try reading a bit more carefully next time.