Companies: VOG   

It has been a rotten ride at Victoria Oil & Gas (VOG) since I tipped the shares in January last year at 162.5p, and they have continued to slide in the past week – to a current 50.5p. But with a change of management at the top and a new strategy to switch the thrust of the drilling spend away from the tricky West Medvezhye field in Mongolia to the Kemerkol field in Kazakhstan, VOG is a lot more likely to start generating cash flow sooner rather than later.

Last week it announced a six-well drilling programme in Kemerkol that it hopes will result in production of around 500 barrels a day by mid-year. There will still be drilling at West Medvezhye and VOG also has its sights set on acquisitions. The shares should not be sold now.

Victoria Oil & Gas	AIM	£14.23m	5.00p	0.50p
Click here for interactive charting
Other company articles:
Victoria gets go-ahead			31/03/2008
VOG turning the corner?			11/01/2008
VOG hits a dry hole			10/08/2007
VOG still finds the going hard			20/07/2007
Victoria switches attention to Kemerkol			05/04/2007