Regarding the placing price of 78p - if you read back far enough you will find several posters made comment to this. In reality, most placings take place using an agreed average market price of between 30 and 180 days prior to the placing. The Institutions want to use the 180 days which would have put the placing at around 50p and VOG want to use 30 days which would have put the placing at around 110p.
The Company discuss with the broker and you end up somewhere in between - 78p may seem cheap but VOG need the money now - and remember we are still waiting for the first oil / gas to flow.
If VOG indeed buy more licences - then dont rule out more funding along the way - thats just how it works.
Victoria Oil stock quotes
Victoria Oil stock charts
Follow this thread
