VOG 2005 New Thread

got this from another bb by the french connection hope they dont mind me posting it, first class read.

l have always believed a share should be suspended during a fund raising exercise as it allows what is, in effect naked shorting. Ex Yukos highfler Vice President , Bill Kelleher, runs the show here. The man has spent 25 years in the employ of almost " a Whos who " of oil companies with 15 years concentrating on the Russias . Foo is in the genre of Teeling with his hand in many pies ( and decent companies ). Asking around those who knew Kelleher he is a smart operator . Believed to have been offered employment by a number of Russian oil companies he was quoted in the FT as saying he wanted to be given the opertunity to run his own show. .... Regarding the contraversial revision of c1/2/3 deposits in the West Medvezhye . l cant see where the problem lies as the abundance of drilling information taken on the second attempt was not originally available when the first estimates were undertaken . Due to this fact it it clearly states in the appendix ( note 1 ) of the last AGM that "An internal technical review is expected to refine these estimates as part of the 2005 SIG development plan " and which "D and M" strongly backed as they themselves believed they had acted a tad conservatively in the light of a number of companies being prosecuted in their exaggerating reserves . Revisions are commonplace . Common practice . SIG is Sever'gas from whom Vog bought 76% of the west Medvezhye acreage; a consideration satisfied by $8m in cash, and a furthur consideration of 4,759,314 shares . Thus not forgetting SIG have a substantial 25 % wrapped up in this VOG deal ( $3.4m mil - so a j/v by any other name.) and know support for VOG exists from a number of hefty institutions. What with revenues from oil and esp gas companies doubling and tripling during the past 12 months it is obvious after a session of number crunching with thier nomad, financial advisers and analyists that SIG assessed it would be pure folly for them to accept monies as opposed to shares whose potential is known to most in the industry to be collasal ..........................But lets face it . SIG would be highly UNLIKELY to accept over 4.5 mn in shares in a company they believe to be without merit or decent returns . They have proven C1 reserves at Kemerol of 8.7 barrels with c2 of 25 and c3 of 60. .The double entry well scheduled for spudding in January is a mere 9oo feet to deposit as opposed to the 22,000 feet BP drill in the Atlantic off west Africa.VOG have said e will capture the shut in oil @ 475 blls pd initially raising it to 2000 blls p/d in summer . . The botch up reg RNS hardly affects the drilling or prospects of VOG . Perhaps tilttillating for the Financial press. But nothing more . . Nothing more than a storm in a teacup wich will soon be forgotten . But in the meantime a great army of folk will have been frightened "out" of the market. For Vog are lucky in that there exist a number of city connections from which to raise capital - as most in the industry know that in all probability its aworld class resource find . . ...This nonsense of VOL being a victim of cashburn is a bear trap . lt smacks of desperation ..- a set of medium sized fields with 5 to 8 wellheads wont have have a cashburn of $40,000 a day but a single wellhead -NEVER !!! ...and typical of the mails man whose reckies are at best crap . SIG know VOGS prospects , books and staff beter than anyone . Thus illustating the revision was planned as early as the AGM . Skipping through my "Alexanders gas and oil connections " { not exactly my usual reading matter at £3,500 stg per copy . But maps showing Vogs EXACT acreage in the finest of detail it appears more like a simple bolt onto Gazpoms " Urengoy" field with both the, "Yamal" furthur to the north and and Gydan fields to the immediate north east. . . Furthur North is the Kara sea ( estimated to produce 300 trillion cubic meteres of gas . Exploration here has already revealed 12 basins of gas -of which the biggest at Rusanovskoye and Leningradskoye are estimated to contain between 5-6 trillion cmg To the east lies the vast Vankor gas fields in the Turukstan region of the Krasnoyarsk whose C1 { YES - C1 ! } reserves total an unbelievable bpoe of 41 million TONNES ! {7,375 barrels of condesate equals a single tonne ! }and C1 reserves of 28.2 trillion cmg. {And that ws based upon revision of original estimates as more and more drilling data became available to be collated . Within 150km of the biggest Gazpom owned fields at Shtokmanovskoye , Piltun Astasakoye, Lunskoye and Priazlomnoye lies Vogs acreage . And finally to the immediate south lies nine "new" fields which have made neccassay the construction of a huge gas and oil complex at the rail terminal at Surgut. lncidentally the railway and river systems are absolutely ideal to VOG - whether by sea , by rail , or via pipeline which conviently would only need a small rail spur,or link up piping and thearby gain access to the more lucrative markets of France and Germany and the UK The odds you are burning Russian gas to heat your home is highly probable. . ........ So are The odds of having a plethora of over 80 producing wells to the North , South , East, and West all within 20 to 150 KM proximity and FOR Vog to come away empty handed would be something of a phenomena. Snatching defeat from the mouth of victory ?? ..Could all the analyists at "D and M" and all the other independant assayers all be wrong ? ....For 30 years Russians knew of this oil.From the the murmansk, the kara sea ,the Lapter sea right through to the Barents sea .the whole russian shelf is a bed of oil ; but they lacked not only both the capital and technology to get it out but it was against an envoronment of oil at a few dollars a bl and that was refinery price ( Presently they pay £41,29 c ) Yet one would think looking at many BBs that Vog was going broke . Utter tosh ....of the worst kind . .......