Victoria Oil & Gas (#VOG) – $12.1m plus interest ICC tribunal ruling it can’t currently pay, shares suspended
- 2022-04-04 07:59:59
Victoria Oil and Gas (VOG) has had a rather turbulent recent few years, with changes of management combining with very material changes to the operating business. The company raised $17 million gross in April last year to refinance the business and set it on a positive route forward with a re-freshed board. It appears to me this was good money thrown after bad. I see little to like in this investment case.
I previously covered AIM-listed Victoria Oil and Gas (VOG) with reference to an after-hours warning issued after market close, but during the auction. It looked terrible, but there were mitigating factors which looked to have combined in an unfortunate fashion. This morning Victoria has issued a Q1 trading update. It is not pretty, but I have to take my hat off to the company this morning, for it gives full numbers and investors can make a rational decision.
Sadly it was not my friend the Foo Man ( Kevin Foo) presenting but a very able stand in, Ahmet Dik, batted for Victoria Oil & Gas (VOG). Enjoy.