VOG 2005 New Thread

Remember Degolyer and MacNaughton have CONFIRMED the 0.5tcf find as minimum and recoverable.

Fair value on 74.8% ownership was £3 discounted from £5 though funding issue would slow share price climb until sorted (prior to confirmation yesterday and 2.5 times over subscribed).

Since funding, VOG have bought out the remaining 25.2% of the field they did not own - putting 100% ownership in their hands.

With 100% ownership - fair value on the MINIMUM CONFIRMED RECOVERABLE 0.5tcf is £4 discounted from £6.65. Present price is £1.425 with over 180% upside to reach the brokers fair value target.

Anything materially above 0.5tcf will give massive, massive upside! D&M say possible 4.6 times upside to 2.3tcf and VOG themselves say more to come in relation to well site 104 alone. This alone has the potential for around 13% of all North Sea Gas! There has been no mentiion of the further upside from 2-300m bls of condensate.

This has only started to climb towards fair value in relation to the first confirmed recoverable 0.5tcf gas and with nothing for Kemerkol oil production. I believe the institutions who did not get their full potential in the placing are now buying in the open market. This has finished at the high of the day which suggests further upside in the short term.

DYOR etc.