The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
What's all the fuss about, I used to hold 3,000,0000-4,000,000 of these about 6 years ago when they were last at 3-4p and no one gave a fig about me and then look what happened to the business.
What's the point in buying at this price when a rights issue at 2p-3p is coming very soon. remember they have already spen about £250m on a pipeline no one wants, drilled wells that no one wants, for customers that don't exist , when the world is moving over to electricity to go green, and end up with a MCap of what £3-£5m on a good day. the sooner this goes belly up the better everyone will be.
History tells us this company does not have a viable business model. The problem is that there is no market for our product.
We built it, and nobody came.
Let's be honest, if Roy Kelly can turn this ship around, sell West Med and start to properly monetise our significant gas assets in Logbaba, 5p will be a distant memory. For those brave enough, buying VOG at this price could be a rare opportunity to multi bag.
Maybe we'll get an RNS Monday morning with some good news on a West Med sale, ENEO payments or a new GSA. Now that would be a welcome early Christmas present.
Lol.
No I was too busy salivating over my holding in jubilee metals
It certainly suggests that someone may in the know. Either that or they're just super confident.
Was that you topping up at 9.37 this morning, 3CB? :)-
shame the cameroonian government dont pay vog back while there at it, they have a vested interest in eneo seems we are just an insignificant nobody.
Business in Cameroon) - According to the Cameroonian Prime Minister, the government has repaid CFAF 2,102 billion in debt overall during the first nine months of 2020. According to Joseph Dion Nguté (photo), who presented the State economic and financial program for the year 2021, on November 25 in front of the deputies, the country has normally provided its debt service for an amount of CFAF 1,776 billion since the beginning of the year, and paid arrears of CFAF 326 billion.
At the same time as these repayments were made, the country continued to take on debt, in particular through its traditional fundraising operations on the sub-regional money market, launched in 2011 by the Bank of African States. central (BEAC).
According to the details given by the Prime Minister, between January and September 2020, the Cameroonian public treasury raised on this market an envelope of 614 billion FCFA, "? intended to cover the cash needs of the State and to
finance projects. development, ?”he said. This, without counting the disbursements of external financing, during the same period.
https://www.investiraucameroun.com/economie/0212-15669-le-cameroun-a-rembourse-pour-2-102-milliards-de-fcfa-de-dettes-a-fin-septembre-2020-premier-ministre
Interesting discussion on Advfn blvn should help put this news into context.
Business in Cameroon) - The Ministry of Water and Energy (Minee) has just published information relating to the distribution of petroleum and gas products in Cameroon during the 2020 financial year.
We thus learn that " ?the activity of distribution of petroleum products makes it possible to employ to date, nearly 5,800 Cameroonians and brings to the State an annual average of 140 billion [FCFA] in tax revenue? ". During the first ten months of 2020, eight new approvals were granted, bringing to fifty-nine the number of companies approved for the distribution of petroleum products.
According to the Minee, Cameroon has continued its petroleum product distribution projects through the construction and operation of six new service stations since the start of the year, bringing the total number of service stations to 841. as of October 16, 2020 nationwide, including 35% in rural areas.
In addition, indicates the ministry, in order to improve access to petroleum products and domestic gas in areas with fragile ecology of Cameroon, a pilot service station installation project is currently being developed in collaboration with the Caisse de Stabilization of Hydrocarbon Prices. The results of the said project are pending.
https://www.investiraucameroun.com/economie/0212-15667-produits-petroliers-la-distribution-emploi-pres-de-5800-camerounais
(Business in Cameroon) - During the first 9 months of 2020, Cameroon exported 6,182 million m 3 of liquefied natural gas (LNG), from the Hillo E****eyo, the floating unit commissioned in 2018 off Kribi, the seaside town in the southern region of Cameroon. The information was revealed on November 25, 2020 by the Prime Minister, Joseph Dion Nguté, during the presentation of the government's 2021 Economic and Financial Program to the National Assembly.
Remember, with this LNG liquefaction unit converted into LNG, 2 e infrastructure of this type in the world after Malaysia, Cameroon has officially become exporter of this fuel for 2 years. The production from the Kribi fields is mainly marketed in Asia by the Russian Gazprom, with which Cameroon has signed an exclusive off-taker contract.
The Hilli E****eyo also produces domestic gas for households. According to the Prime Minister, around 2,000 metric tons are mined each month. However, this production is even more insufficient since the fire at Sonara, the only refinery in the country, whose refining activities are at a standstill.
As proof, Cameroon is preparing to import 120,000 metric tonnes of domestic gas to meet the needs of Cameroonian households during the year 2021. A related call for tenders was launched for this purpose on November 23, 2020.
https://www.investiraucameroun.com/energie/0212-15664-au-30-septembre-2020-le-cameroun-a-exporte-6-182-millions-de-metres-cubes-de-gaz-naturel-liquefie
https://translate.google.co.uk/translate?hl=en&sl=fr&u=https://www.investiraucameroun.com/&prev=search&pto=aue
“? The first evaluations of the research firms which took an interest in this file put the cost of the rehabilitation around 250 billion FCFA. Negotiations are already underway with technical and financial partners who have expressed their interest in the rehabilitation of this refinery. However, the finalization of these negotiations remains dependent on the restructuring of the significant debt of Sonara. The government is hard at work to complete this restructuring operation and allow the gradual amortization of this debt, ?”said Minee.
they may have 3 producing wells but no one wants to buy the gas ,at least not enough to make vog profitable you,d think eneo would be desperate for our gas right now pay us up and start taking it again but not happening why.
Electrician Eneo will transfer 20 MW from the Ahala power station to the northern part of Cameroon, plagued by power cuts
(Business in Cameroon) - For several weeks, the filling rate of the Lagdo dam, a major infrastructure that provides electricity to the three northern regions of Cameroon, has been only 48%, due to the scarcity of rains. According to officials from Eneo, the company in charge of the production and distribution of electrical energy, it is necessary to go back more than 25 years to find such a low filling rate of the Lagdo dam. Suddenly, power cuts have become the daily lot of populations in the regions of the North, the Far North and Adamaoua.
To compensate for the production deficit of this infrastructure with a production capacity of 72 MW, but which is now struggling to produce 30, the electrician Eneo announces a transfer of 20 MW of thermal capacity to the northern part of Cameroon. Clearly, explains an internal source at the company, this transfer will consist of the partial dismantling of the Ahala plant, in the suburbs of the capital, and the installation of its production equipment in the cities of Garoua (18 MW). and Ngaoundéré (8 MW).
As a reminder, with a production capacity of 60 MW, the Ahala thermal power station is one of four power stations (with Mbalmayo, Bamenda and Ebolowa) set up by the Cameroonian government in the 2010s, as part of the thermal program. emergency (100 MW of thermal), the objective of which was to compensate for the electricity production deficit in the country.
Set up and managed by the British independent producer Aggreko, the Ahala plant was then bought by the State of Cameroon in 2014, after tough negotiations.
https://www.investiraucameroun.com/energie/3011-15654-l-electricien-eneo-va-transferer-20-mw-de-la-centrale-d-ahala-vers-la-partie-septentrionale-du-cameroun-en-proie-aux-delestages
https://www.energymixreport.com/cameroon-to-import-120000metric-tons-of-lpg-in-2021/
back taxes if this is the case that should just about finish us off. Guess whose one of the major share holders of eneo !! i smell a rat
Gaz du Cameroun challenges a CFAF 3 billion tax notice from the tax administration
(Business in Cameroon) - In its activity report for the first half of 2020, Victoria Oil & Gas (VOG), the British company reveals that its Cameroonian subsidiary called Gaz du Cameroun (GDC) has received a tax notice for the period 2014 to 2016 for an amount of 6.6 million USD (3.61 billion FCFA) on May 22, 2020, which was revised to 5.6 million USD (3.06 billion FCFA) on August 10, 2020, following an initial call from GDC.
“? The management [of GDC] maintains that it has paid all taxes owed to Cameroon and believes that the opinion of the tax administration is wrong, as it seeks to impose double taxation on GDC. Therefore, GDC intends to vigorously challenge this assessment, ?”writes VOG.
The multinational adds: “? At the date of approval of the interim financial statements, the results of the various submissions that GDC has filed with the relevant regulatory bodies are unknown and it is therefore not possible to quantify the potential impact. An unfavorable outcome will have a significant impact on the Group's results and position ?”.
At the same time, indicates the company, as of June 30, 2020, the balance owed by the electrician Eneo, Cameroonian subsidiary of Actis, was 16.3 million USD (9.8 million USD net to GDC). GDC's reminders haven't changed much. Due to this situation, GDC served notice of default on Eneo in accordance with the binding condition sheet signed on June 2, 2020, which included a 30 day repair period. The debt has still not been settled, because contested by Eneo.
https://www.investiraucameroun.com/finance/3011-15647-gaz-du-cameroun-conteste-un-avis-d-imposition-de-3-milliards-de-fcfa-de-l-administration-fiscale
Last one on this subject from me, and apologies for being off-topic:
From Dr Mike Yeadon, retired Chief Scientific Officer for Respiratory Diseases at Pfizer.
https://lockdownsceptics.org/the-pcr-false-positive-pseudo-epidemic/
Extract:
‘…The entire ‘second wave’ is supported solely on the back of a flawed mass PCR test, which at industrialized scale was never, in my view and the views of others skilled in PCR, capable of delivering trustworthy results….Until we end the use of PCR mass testing, there is no chance that “cases” will reduce to very low levels. Lateral flow tests must become the gold standard test for COVID with PCR only used for confirmatory diagnosis. …So, just one wave, as expected. The ‘secondwave’ of “cases” and even “COVID-19 deaths” are an artefact of flawed testing.’
Agreed, 3CB. The imprisonment of those in care has been a disgrace (it also applies to disabled teenagers too). I've also have an old family friend I have been unable to visit since March. Disgusts me as well. (In fact 'You disgust me' was my last polite comment to my MP.)
Don't take it personally chuck. No one is saying people aren't dying either from or with covid. This is about erosion of freedom and wealth destruction by committee
No, thanks. It's animals for me, as explained earlier. Far less grumbling.
Was wondering when a "flat earth" comment would come out of the woodwork. The best way to deflect dissenters is always to demonise them.
I have not decided on the vaccine yet. Happy to give my place up to someone more on message. I don't think it will be made illegal to refuse but I suspect compulsion will be brought in through the back door , eg if you wish to fly or go on a cruise. Nor have I ever had a flu jab.
I am also disgusted and ashamed at the way we are treating our elderly in care homes. My wife's brother is in a care home and whilst we used to see him 3 or 4 times a week, we have now seen him only 3 or 4 times in 8 months as he slowly deteriorates and slowly starts to forget us. Is it even legal under human rights law?
The home had 3 cases of covid, all were staff not relatives.
I'm in the medical profession and up to date with all PPE.
I think you should focus your attention/ research on stocks & shares.
You'll be after my job next.