By Ben Turney | Wednesday 28 October 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Victoria Oil & Gas (VOG) delivered a fairly upbeat set of results this morning. Although the company recorded a $50.8million loss, $49.8million of this stemmed from an impairment charge relating to the company’s West Medvezhye project in Russia. The much more positive news was that operations in Cameroon delivered a profit after tax of $5.4million. Even so, the market appears to have been fairly underwhelmed by this and Victoria Oil & Gas’ share price is off 2.5% at 58p, last seen. This values the company at £64.6million. The question now is might there be a value case for buying this stock with a medium outlook?
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