VOG 2005 New Thread

UK smallcap opening - Victoria Oil & Gas up on ZAO SeverGas-Invest mop-up move
LONDON (AFX) - Buyers came for Victoria Oil & Gas, 7 pence better at 99-1/2,
after the company has mopped up the remaining shares in ZAO SeverGas-Invest
(SGI), bringing its ownership of West Medvezhye gas and condensate licence in
Western Siberia to 100 pct.
The total price tag is 3.2 mln usd in cash, the issue of 1.23 mln shares and
a waiver of Victoria's outstanding claim of 2.6 mln usd against the vendors of
the 74.8 pct of SGI acquired last November.
A recent report by independent reservoir auditors DeGolyer & MacNaughton
estimated an expected recoverable gas resource for the field surrounding the
first exploration well at West Medvezhye of half a trillion cubic feet of gas.