VOG 2005 New Thread

Hi All,

First time post on here, you'll usually find me on iii.com. I'm a long time holder of vog (first invested in Nov 04)and like all of us I will be a lot happier once Foo finally gets round to confirming the placing price.

I would like to ask, why raise 12m funds when you have oil wells about to produce 500 barrels a day. VOG aren't burning that much cash and i don't think they need to fund things long term if the Kermerkol forecasts are to be beleived. THe only other possible reason would be the funding to buy the remaining 25% of West Med.

Opinions welcome??