Article under "Sector Play" - Recomends Buy with target of £1.50 & Stop Loss @ 70p - time period 12 weeks
"November saw VOG confirm that it had found a very large gas field in West Medvezhye, Russia. The news saw its share price triple over a three-day period, peaking intraday at 158p before rattling back down as word got around that it was looking to raise funds in order to progress development of the project. Were it not for the placing, VOG's shares would have carried on rising. The first quarter will see two events that will support VOG's momentum, says IG Markets investment manager Warren Firth.
Firstly, Kermerkol, the oil operation in Kazakhstan, will deliver the firm's first cash flows.
Secondly, the drilling programme in West Medvezhye field should see two holes completed by the spring. In particular, early seismic data interpretations indicate Well 106 could be every bit as promising as that of Well 104 - the results of which triggered last months huge upward move."
Interesting about Well 106, I had heard rumours it could be good and Foo also stated "there's more to come" after confirming Well 104. I beleive this is the first press mention of it's potential?
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