Volga Gas (VGAS)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

38.50p
   
  • Change Today:
    -0.90p
  • 52 Week High: 96.00
  • 52 Week Low: 28.50
  • Currency: UK Pounds
  • Shares Issued: 80.82m
  • Volume: 3,757
  • Market Cap: £31.12m
  • RiskGrade: 186

Volga Gas' profits leap after sales volumes improve

By Duncan Ferris

Date: Monday 08 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Volga Gas' shares climbed after the company said the construction of a new unit and higher annual sales volumes drove revenues and profits higher.
For 2018, the oil and gas exploration and production group reported a 6% increase in sales volumes compared to the year before, rising from 4,667 boepd to 4,956 boepd, which sent revenue up by 24% to £45.9m and profit before tax up from £0.2m to £10.3m.

The AIM traded company also completed the construction of a new unit at the Dobrinskoye gas plant to capture liquid petroleum gases (LPG) from the gas and condensate stream, with the project reaching completion in April of last year and production commencing the following month.

Andrey Zozulya, chief executive of Volga, said: "We are pleased to have delivered on the two key aims; improvement in operational reliability of the Redox gas sweetening and construction of the LPG extraction plant. These have already delivered a higher level of production that is expected be sustainable in the medium to long term. The improvement in profitability achieved in 2018 exceeded management's expectations and, in a stable oil price environment, would be sustainable."

Average production increased 4% to 5,144 boepd as average production from the VM and Dobrinskoye fields was 4.4% higher than the year before at 4,537 boepd.

Volga finished the year with cash and cash equivalents of £15.2m, up from £8.6m at the same point the year beforehand, while the board recommended a final dividend of $0.09 per share on top of the $0.06 per share interim dividend, up from a total dividend of $0.062 the year before.

Between January and March of the current year, production averaged 6,117 boepd, though this is expected to drop slightly in the coming months due to maintenance works.

"We remain excited about the group's assets and remain positive about the potential for production from our fields and the potential to discover additional fields in our licences. We will also continue to seek value accretive opportunities, beyond our existing licence areas, building a focused exploration and production business," said Zozulya

Volga Gas' shares were up 5.05% at 52.00p at 0911 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Volga Gas Market Data

Currency UK Pounds
Share Price 38.50p
Change Today -0.90p
% Change -2.28 %
52 Week High 96.00
52 Week Low 28.50
Volume 3,757
Shares Issued 80.82m
Market Cap £31.12m
RiskGrade 186

Volga Gas Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.70% above the market average69.70% above the market average69.70% above the market average69.70% above the market average69.70% above the market average
5.49% above the sector average5.49% above the sector average5.49% above the sector average5.49% above the sector average5.49% above the sector average
Price Trend
72.42% below the market average72.42% below the market average72.42% below the market average72.42% below the market average72.42% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Income
29.84% above the market average29.84% above the market average29.84% above the market average29.84% above the market average29.84% above the market average
9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average
Growth
97.87% above the market average97.87% above the market average97.87% above the market average97.87% above the market average97.87% above the market average
96.61% above the sector average96.61% above the sector average96.61% above the sector average96.61% above the sector average96.61% above the sector average

Volga Gas Dividends

  Latest Previous
  Final Interim
Ex-Div 02-May-19 11-Oct-18
Paid 28-May-19 02-Nov-18
Amount 6.50¢ 6.00¢

Trades for 17-Jan-2020

Time Volume / Share Price
16:11 757 @ 40.00p
09:06 3,000 @ 40.00p

Volga Gas Key Personnel

CEO Andrey Zozulya
CFO Vadim Son

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