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Victoria Oil & Gas

AIM:VOG
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VOG
AIM
£39M
Market Cap
  1. Home
  2. GB
  3. Energy
Company description

Victoria Oil & Gas Plc engages in the exploration, development, production, and distribution of oil and gas properties in the United Kingdom. The last earnings update was 208 days ago. More info.


Add to Portfolio Compare Print
  • Victoria Oil & Gas has significant price volatility in the past 3 months.
VOG Share Price and Events
7 Day Returns
5.2%
AIM:VOG
2.6%
GB Oil and Gas
1.5%
GB Market
1 Year Returns
-53.3%
AIM:VOG
16.9%
GB Oil and Gas
2.1%
GB Market
VOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Victoria Oil & Gas (VOG) 5.2% 16.9% -7.6% -53.3% -61.2% -61.5%
GB Oil and Gas 2.6% 6.4% 11.3% 16.9% 51.5% -2.7%
GB Market 1.5% 5.2% 9.7% 2.1% 17.8% 6.8%
1 Year Return vs Industry and Market
  • VOG underperformed the Oil and Gas industry which returned 16.9% over the past year.
  • VOG underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Price Volatility
VOG
Industry
5yr Volatility vs Market

VOG Value

 Is Victoria Oil & Gas undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Victoria Oil & Gas to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Victoria Oil & Gas.

AIM:VOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AIM:VOG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.959 (1 + (1- 19%) (43.79%))
1.2
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.2 * 6.65%)
9.21%

Discounted Cash Flow Calculation for AIM:VOG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Victoria Oil & Gas is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

AIM:VOG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.21%)
2019 -2.97 Analyst x1 -2.72
2020 7.91 Analyst x1 6.63
2021 7.91 Analyst x1 6.07
2022 28.68 Analyst x1 20.16
2023 29.67 Analyst x1 19.10
2024 30.48 Est @ 2.74% 17.97
2025 31.18 Est @ 2.29% 16.83
2026 31.79 Est @ 1.97% 15.71
2027 32.35 Est @ 1.75% 14.64
2028 32.86 Est @ 1.59% 13.62
Present value of next 10 years cash flows $128.03
AIM:VOG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $32.86 × (1 + 1.23%) ÷ (9.21% – 1.23%)
$416.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $416.83 ÷ (1 + 9.21%)10
$172.76
AIM:VOG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $128.03 + $172.76
$300.79
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $300.79 / 254.51
$1.18
AIM:VOG Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of AIM:VOG)
0.773
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $1.18 x 0.773
£0.91
Value per share (GBP) From above. £0.91
Current discount Discount to share price of £0.15
= -1 x (£0.15 - £0.91) / £0.91
83.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Victoria Oil & Gas is available for.
Intrinsic value
>50%
Share price is £0.1515 vs Future cash flow value of £0.91388
Current Discount Checks
For Victoria Oil & Gas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Victoria Oil & Gas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Victoria Oil & Gas's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Victoria Oil & Gas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Victoria Oil & Gas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:VOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $-0.07
AIM:VOG Share Price ** AIM (2019-04-24) in GBP £0.15
AIM:VOG Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.293 $0.2
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PE Ratio Median Figure of 32 Publicly-Listed Oil and Gas Companies 10.09x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Victoria Oil & Gas.

AIM:VOG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:VOG Share Price ÷ EPS (both in USD)

= 0.2 ÷ -0.07

-2.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Victoria Oil & Gas is loss making, we can't compare its value to the GB Oil and Gas industry average.
  • Victoria Oil & Gas is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Victoria Oil & Gas's expected growth come at a high price?
Raw Data
AIM:VOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PEG Ratio Median Figure of 19 Publicly-Listed Oil and Gas Companies 0.48x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Victoria Oil & Gas, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Victoria Oil & Gas's assets?
Raw Data
AIM:VOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $0.74
AIM:VOG Share Price * AIM (2019-04-24) in GBP £0.15
AIM:VOG Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.293 $0.2
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry PB Ratio Median Figure of 102 Publicly-Listed Oil and Gas Companies 0.85x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
AIM:VOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:VOG Share Price ÷ Book Value per Share (both in USD)

= 0.2 ÷ 0.74

0.27x

* Primary Listing of Victoria Oil & Gas.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Victoria Oil & Gas is good value based on assets compared to the GB Oil and Gas industry average.
X
Value checks
We assess Victoria Oil & Gas's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Victoria Oil & Gas has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VOG Future Performance

 How is Victoria Oil & Gas expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Victoria Oil & Gas has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.2%
Expected Oil and Gas industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Victoria Oil & Gas expected to grow at an attractive rate?
  • Unable to compare Victoria Oil & Gas's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Victoria Oil & Gas's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Unable to compare Victoria Oil & Gas's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AIM:VOG Future Growth Rates Data Sources
Data Point Source Value (per year)
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 14.2%
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AIM:VOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:VOG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 34
2022-12-31 34
2021-12-31 24
2020-12-31 13
2019-12-31 2
2018-12-31 -1
AIM:VOG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 13 9 -9
2018-03-31 18 5 -10
2017-12-31 23 2 -10
2017-09-30 24 4 -23
2017-06-30 25 7 -37
2017-03-31 29 15 -34
2016-12-31 33 22 -31
2015-12-31 37 3 0
2015-11-30 35 19 2
2015-08-31 32 14 -25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Victoria Oil & Gas is high growth as no earnings estimate data is available.
  • Unable to determine if Victoria Oil & Gas is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:VOG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Victoria Oil & Gas Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:VOG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2018-12-31
AIM:VOG Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 -0.07
2018-03-31 -0.08
2017-12-31 -0.09
2017-09-30 -0.21
2017-06-30 -0.34
2017-03-31 -0.31
2016-12-31 -0.29
2015-12-31 0.00
2015-11-30 0.02
2015-08-31 -0.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Victoria Oil & Gas will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Victoria Oil & Gas is trading at Victoria Oil & Gas'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Victoria Oil & Gas's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. Victoria Oil & Gas's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Victoria Oil & Gas's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Victoria Oil & Gas has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VOG Past Performance

  How has Victoria Oil & Gas performed over the past 5 years?

  • Victoria Oil & Gas's last earnings update was 208 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Victoria Oil & Gas's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Victoria Oil & Gas does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Victoria Oil & Gas's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Victoria Oil & Gas's 1-year growth to the GB Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Victoria Oil & Gas's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Victoria Oil & Gas Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:VOG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 13.07 -8.93 7.08
2018-03-31 18.27 -9.53 8.93
2017-12-31 23.47 -10.13 10.79
2017-09-30 24.00 -23.38 12.77
2017-06-30 24.53 -36.62 14.74
2017-03-31 28.64 -33.88 13.80
2016-12-31 32.75 -31.15 12.86
2015-12-31 36.65 0.27 12.37
2015-11-30 35.23 1.69 13.04
2015-08-31 31.58 -24.56 12.79
2015-05-31 27.93 -50.81 12.55
2015-02-28 24.10 -54.20 12.93
2014-11-30 20.28 -57.59 13.31
2014-08-31 17.50 -29.63 11.62
2014-05-31 14.73 -1.67 9.92
2014-02-28 13.00 -4.88 10.12
2013-11-30 11.28 -8.10 10.31
2013-08-31 9.11 -12.02 10.97
2013-05-31 6.93 -15.94 11.64
2013-02-28 4.30 -13.31 8.95
2012-11-30 1.67 -10.68 6.26
2012-08-31 0.84 -9.20 5.39
2012-05-31 -7.73 4.53

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Victoria Oil & Gas has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Victoria Oil & Gas has efficiently used its assets last year compared to the GB Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Victoria Oil & Gas improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Victoria Oil & Gas's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Victoria Oil & Gas has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VOG Health

 How is Victoria Oil & Gas's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Victoria Oil & Gas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Victoria Oil & Gas is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Victoria Oil & Gas's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Victoria Oil & Gas's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Victoria Oil & Gas Company Filings, last reported 9 months ago.

AIM:VOG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 106.68 21.84 3.23
2018-03-31 106.68 21.84 3.23
2017-12-31 109.85 24.54 11.48
2017-09-30 109.85 24.54 11.48
2017-06-30 90.87 33.80 8.63
2017-03-31 90.87 33.80 8.63
2016-12-31 94.97 14.48 16.26
2015-12-31 125.38 7.23 13.23
2015-11-30 124.40 7.25 13.57
2015-08-31 124.40 7.25 13.57
2015-05-31 123.58 10.87 15.96
2015-02-28 123.58 10.87 15.96
2014-11-30 119.65 12.40 5.81
2014-08-31 119.65 12.40 5.81
2014-05-31 181.30 10.65 17.02
2014-02-28 181.30 10.65 17.02
2013-11-30 182.44 7.21 1.37
2013-08-31 182.44 7.21 1.37
2013-05-31 181.40 9.76 13.11
2013-02-28 181.40 9.76 13.11
2012-11-30 156.69 11.05 1.00
2012-08-31 156.69 11.05 1.00
2012-05-31 152.18 13.68 1.89
  • Victoria Oil & Gas's level of debt (20.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (4.9% vs 20.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Victoria Oil & Gas has less than a year of cash runway based on current free cash flow.
  • Victoria Oil & Gas has less than a year of cash runway if free cash flow continues to grow at historical rates of 80.8% each year.
X
Financial health checks
We assess Victoria Oil & Gas's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Victoria Oil & Gas has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VOG Dividends

 What is Victoria Oil & Gas's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Victoria Oil & Gas dividends.
If you bought £2,000 of Victoria Oil & Gas shares you are expected to receive £0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Victoria Oil & Gas's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Victoria Oil & Gas's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AIM:VOG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.6%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.1%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AIM:VOG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2018-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Victoria Oil & Gas has not reported any payouts.
  • Unable to verify if Victoria Oil & Gas's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Victoria Oil & Gas's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Victoria Oil & Gas has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Victoria Oil & Gas's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Victoria Oil & Gas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Victoria Oil & Gas has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VOG Management

 What is the CEO of Victoria Oil & Gas's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ahmet Dik
COMPENSATION $774,149
AGE 45
TENURE AS CEO 2.8 years
CEO Bio

Mr. Ahmet Dik has been Chief Executive Officer at Victoria Oil & Gas plc since June 23, 2016 and its Executive Director since October 27, 2015. Previously, he has worked on the structuring and delivery of a wide range of oil and gas, minerals, resources and infrastructure projects and was part of the senior management team at Dominion Petroleum Ltd, an AIM-listed company, in 2007, working on the acquisition of its East African assets.

CEO Compensation
  • Ahmet's compensation has been consistent with company performance over the past year.
  • Ahmet's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Victoria Oil & Gas management team in years:

2.8
Average Tenure
45
Average Age
  • The tenure for the Victoria Oil & Gas management team is about average.
Management Team

Roger Kennedy

TITLE
Executive Chairman
COMPENSATION
$103K

Ahmet Dik

TITLE
CEO & Executive Director
COMPENSATION
$774K
AGE
45
TENURE
2.8 yrs

Andrew Diamond

TITLE
Finance Director & Executive Director
COMPENSATION
$257K
AGE
43
TENURE
2.8 yrs

Radwan Hadi

TITLE
Chief Operating Officer

Jonathan Scott-Barrett

TITLE
Managing Director of Cameroon
AGE
74
TENURE
8.3 yrs

Eric Friend

TITLE
Managing Director of Gaz Du Cameroun
TENURE
2.4 yrs

Elizabeth Burns

TITLE
Chief Financial Officer of Gaz Du Cameroun
TENURE
2.7 yrs

Leena Nagrecha

TITLE
Company Secretary
Board of Directors Tenure

Average tenure and age of the Victoria Oil & Gas board of directors in years:

4.3
Average Tenure
58
Average Age
  • The tenure for the Victoria Oil & Gas board of directors is about average.
Board of Directors

Roger Kennedy

TITLE
Executive Chairman
COMPENSATION
$103K

Ahmet Dik

TITLE
CEO & Executive Director
COMPENSATION
$774K
AGE
45
TENURE
4.3 yrs

Andrew Diamond

TITLE
Finance Director & Executive Director
COMPENSATION
$257K
AGE
43
TENURE
2.8 yrs

John Bryant

TITLE
Independent Non-Executive Director
COMPENSATION
$104K
AGE
71
TENURE
4.3 yrs

John Daniel

TITLE
Independent Non-Executive Director
AGE
58

John Knight

TITLE
Independent Non Executive Director
AGE
60
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
X
Management checks
We assess Victoria Oil & Gas's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Victoria Oil & Gas has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VOG News

Simply Wall St News

Some Victoria Oil & Gas (LON:VOG) Shareholders Have Copped A Big 61% Share Price Drop

Because Victoria Oil & Gas is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. … That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.

Simply Wall St -

Should You Worry About Victoria Oil & Gas Plc's (LON:VOG) CEO Salary Level?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Ahmet Dik's Compensation Compare With Similar Sized Companies. … According to our data, Victoria Oil & Gas Plc has a market capitalization of UK£38m, and pays its CEO total annual compensation worth US$774k.

Simply Wall St -

How Financially Strong Is Victoria Oil & Gas Plc (LON:VOG)?

Investors are always looking for growth in small-cap stocks like Victoria Oil & Gas Plc (LON:VOG), with a market cap of UK£22m. … However, an important fact which most ignore is: how financially healthy is the business? … especially ones that are currently loss-making,

Simply Wall St -

Should You Worry About Victoria Oil & Gas Plc's (LON:VOG) CEO Pay Cheque?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Ahmet Dik's Compensation Compare With Similar Sized Companies. … Our data indicates that Victoria Oil & Gas Plc is worth UK£36m, and total annual CEO compensation is US$774k.

Simply Wall St -

What You Must Know About Victoria Oil & Gas Plc's (LON:VOG) Financial Strength

While small-cap stocks, such as Victoria Oil & Gas Plc (LON:VOG) with its market cap of UK£57.7m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

What does Victoria Oil & Gas Plc's (LON:VOG) Balance Sheet Tell Us About Its Future?

Moreover, VOG has produced cash from operations of US$22.22M over the same time period, resulting in an operating cash to total debt ratio of 153.43%, indicating that VOG’s operating cash is sufficient to cover its debt. … In VOG’s case, it is able to generate 1.53x cash from its debt capital. … Investors' risk associated with debt is very low with VOG, and the company has plenty of headroom and ability to raise debt should it need to in the future.Next Steps: VOG’s debt level is appropriate for a company its size, and it is also able to generate sufficient cash flow coverage, meaning it has been able to put its debt in good use.

Simply Wall St -

What Does Victoria Oil & Gas Plc's (LON:VOG) Ownership Structure Look Like?

A company's ownership structure is often linked to its share performance in both the long- and short-term. … View our latest analysis for Victoria Oil & Gas AIM:VOG Ownership_summary Mar 22nd 18 Institutional Ownership With an institutional ownership of 73.58%, VOG can face volatile stock price movements if institutions execute block trades on the open market, more so, when there are relatively small amounts of shares available on the market to trade However, as not all institutions are alike, such high volatility events, especially in the short-term, have been more frequently linked to active market participants like hedge funds. … We should dig deeper into the company's ownership structure to find how the rest of its ownership structure can impact its investment case.

Simply Wall St -

Does Victoria Oil & Gas Plc's (LON:VOG) -138.56% Earnings Drop Reflect A Longer Term Trend?

Since these figures may be somewhat short-term thinking, I’ve calculated an annualized five-year figure for Victoria Oil & Gas's earnings, which stands at -US$18.40M. … AIM:VOG Income Statement Mar 14th 18 We can further analyze Victoria Oil & Gas's loss by looking at what the industry has been experiencing over the past few years. … I recommend you continue to research Victoria Oil & Gas to get a better picture of the stock by looking at: 1.

Simply Wall St -

Is Now The Right Time To Invest In Oil & Gas And Victoria Oil & Gas Plc (LON:VOG)?

In this article, I’ll take you through the energy sector growth expectations, as well as evaluate whether Victoria Oil & Gas is lagging or leading its competitors in the industry. … Only now has the sector begun to emerge from its turmoil, and in the previous year, the industry saw growth of over 100%, beating the UK market growth of 11.95%. … A loose alternative to gauge Victoria Oil & Gas’s value is to assume the stock should be relatively in-line with its industry.

Simply Wall St -

Are Victoria Oil & Gas Plc's (LON:VOG) Interest Costs Too High?

How does VOG’s operating cash flow stack up against its debt? … On top of this, VOG has produced US$22.22M in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 153.43%, indicating that VOG’s current level of operating cash is high enough to cover debt. … VOG's risk around capital structure is low, and the company has the headroom and ability to raise debt should it need to in the future.Next Steps: VOG’s high cash coverage and appropriate debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow.

Simply Wall St -

VOG Company Info

Description

Victoria Oil & Gas Plc engages in the exploration, development, production, and distribution of oil and gas properties in the United Kingdom. The company holds 57% interest in the Logbaba gas and condensate project located in Cameroon. It also supplies energy products, such as thermal gas, condensate, and gas for electricity generation to industrial customers through a 50 kilometers pipeline in Douala. In addition, the company owns 100% interest in the West Medvezhye field, as well as engages in sale of hydrocarbons and related activities. Victoria Oil & Gas Plc was incorporated in 2004 and is based in London, the United Kingdom.

Details
Name: Victoria Oil & Gas Plc
VOG
Exchange: AIM
Founded: 2004
£38,558,483
254,511,444
Website: http://www.victoriaoilandgas.com
Address: Victoria Oil & Gas Plc
200 Strand,
London,
Greater London, WC2R 1DJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM VOG Ordinary Shares London Stock Exchange AIM Market GB GBP 27. Jul 2004
OTCPK VCOG.F Ordinary Shares Pink Sheets LLC US USD 27. Jul 2004
DB VO9V Ordinary Shares Deutsche Boerse AG DE EUR 27. Jul 2004
Number of employees
Current staff
Staff numbers
164
Victoria Oil & Gas employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 20:32
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/03/28
Last earnings filing: 2018/09/28
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.