Stock data
| Market cap. | £87.7m |
| Last close | 3.37p |
| High / Low (52 weeks) | 5.0p / 3.1p |
| Stock market listing | AIM |
| Forecast net cash (US$m) | 3.8 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Oil & Gas |
| Sector | Oil & Gas |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (18.5) | (9.65) | (33.27) |
| Relative * | (14.5) | (2.23) | (26.66) |
* % Relative to local index
Other companies covered in sector
| Y/E May | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 0.0 | (6.3) | (6.1) | (0.6) | N/A | N/A |
| 2011A | 0.0 | (4.7) | (4.7) | (0.3) | N/A | N/A |
| 2012E | 0.6 | (5.5) | (5.9) | (0.2) | N/A | 64.7 |
| 2013E | 60.0 | 47.7 | 48.3 | 1.9 | 2.9 | 7.1 |
Last updated on 19/04/2012
Latest research
Logbaba up and running
Update | Oil & Gas | 19/04/2012
Logbaba gas imminent
Outlook | Oil & Gas | 09/09/2011
Investment summary
Production from Victoria Oils & Gas's (VOG) flagship Logbaba development in Cameroon is yet to kick off in earnest. However, with installation of its remaining distribution network on track to complete in 2012 the company is confident of meeting its year-end exit rate target of 8mmscf/d from up to 20 customers, increasing to 20mmscf/d in 2013 and to 40mmscf/d by late 2014. Although industrial thermal demand forms the basis for early production, medium-term growth requires customers to switch to on-site power generation. An H212 demonstration generator should help with driving up this demand, which is critical to our updated core NAV of 10.2p, rising to a RENAV of 13.6p with prospective resources to be developed via conventional gas to power and mini-LNG.
Last updated on 23/04/2012
Industry outlook
VOG is well placed to benefit from strong projected demand growth from its Logbaba development. On-site gas-fired power generation, conventional gas to power and mini-LNG all offer upside, with reduced risk due to phased drilling and rapid project paybacks.
Last updated on 23/04/2012
Key management
| Kevin Foo, Chairman |
Company address
| Hatfield House 52-54 Stamford Street London SE1 9LX United Kingdom View website |
