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Hope so. Found this from Feb 2022. Hope they've been doing some digging ...
GCD's Logbaba field had been meeting demand using two of its three wells at any one time. It has started to prepare site access roads for its Marula prospect at Matanda.
VOG will have to issue RNS either today or Monday!!.
So not long to see what is happening??
Just a thought.
Should we bring back Kevin Foo.
At least he used the word imminent lol.
Be nice.....if:
The Company’s estimate of Prospective Resources remains unchanged from those previously reported, namely 1,196 Bcf in the Matanda Licence (onshore), the onshore being the area of initial focus.
The results of a rigorous prospect evaluation, including significant weighting on ESG elements of the site and operation, led to the selection of the Marula prospect for the first well, the largest of the onshore, Tertiary-aged prospects with internally estimated unrisked Pmean Prospective Resource of 69 Bcf, and better than 40% geological chance of success.
Last 'if'. If you wanted to sell off company assets in the cheap and then profit, better done before a hopefully successful drilling programme. Assuming one has actually been done. Just saying!
Btw, a private company. Is still owned by shareholders and hope that the larger holders will want to see a payoff via a listed holding. Another if.
3CB - been there too, with differing Aimer. However....some very large shareholders in play here, willing to postpone loan payments, a proveable rationale for suspension, and tied in with cam gov. You are if course right that what you suggest could happen . Out of our hands now. But if, and not sure if a small if or a more sizable if, gas is found then the company could be transformed overnight, paying off for all concerned. Surely a bigger goal? No doubt we may be a little clearer in a week or so...or knowing VOG.. not! GLA!
maisy. As each day goes by this looks to me more and more like my other dog share, BMR Mining (now Kendrick Resources).
That too was in suspension following a virtual giveaway of the company's asset 95% drop in sp, Many shareholders felt that the board deliberately engineered a de-listing ( from memory for going for too long without a nomad) so they could pretty much do as they liked as a private company.
Private shareholders heard pretty much nothing for about 2 years before being presented with a fait accompli takeover of a completely unrelated company linked to relisting and further massive dilution.
My original shareholding costing in total £22k is now worth £150.
Please don't believe it couldn't happen here
Indeed. Per previous post guess it's what's in the background. Maybe gas found - we don't even know if they've been doing any exploration even and time to get ducks lined up. Or nothing and repaying RSM the final nail. Or anything in between!! Assume some form of update will be made along with the ensuing 'unsuspension', suspension or extension.
They're taking it down to the wire. I hope Roy doesn't turn out to be another Foo!
Stick some more on our UK figures with T/O etc with £ meltdown.
Examples of when FCA may cancel .....................................................................................................
Examples of when the FCA may cancel the listing of securities include (but are not limited to) situations where it appears to the FCA that:
(1) the securities are no longer admitted to trading as required by these rules; or
(2) the issuer no longer satisfies its continuing obligations for listing, for example if the percentage of shares in public hands falls below 10% (the FCA may however allow a reasonable time to restore the percentage, unless this is precluded by the need to maintain the smooth operation of the market or to protect investors); or
(3) the securities' listing has been suspended for more than six months;
(4) the securities are equity shares with a standard listing issued by a closed-ended investment fund where the closed-ended investment fund no longer has a premium listing of equity shares.
The FCA will generally seek to cancel the listing of an issuer's equity shares or certificates representing equity securities when the issuer completes a reverse takeover.
[Note: ¦ LR 5.6 contains further detail relating to reverse takeovers.]
Anyone knows when temporary suspension will be lifted?
After 6 month being suspended the FCA may delist any company / hope we are back soon
Per forests's new post - just proves that the infrastructure just isn't there to support power needs - this is the transmission side, and unless large amounts of cash chucked at it - by Gov who I assume don't have or world bank type funding - even then, outside companies such as Aska, will be asking if they can actually make a profit or be paid. Would hope RSM can see this and could be tempted into a JV in Matanda if the gassy stuff is there to sell to the global market!
Electricity: the fire of a transport station has disrupted the supply of energy to Douala for 2 days
Business in Cameroon) - The fire that broke out on September 20, 2022 at the Logbaba source transmission station, in the city of Douala, continues to disrupt the distribution of electrical energy in Cameroon's economic capital this September 21, 2022. "? Network improvements have made it possible to resupply some customers, although the service currently remains disrupted ?", announced the electrician Eneo in a press release published on September 21, 2022.
The producer and distributor of electricity in Cameroon, however, specifies that many districts of the economic capital remain without electricity so far. Among these districts, we can cite Akwa, the business district; Bonanjo, the administrative district; Youpwe, a veritable commercial center for fresh fish in the country; or even the industrial area of ??Bassa, where many companies have taken up residence.
Transferred to the National Electricity Transport Company (Sonatrel), the electricity transmission network in Cameroon has become one of the greatest evils of the electricity sector in the country, so many outages are there. During the year 2021, this network, which has become dilapidated and saturated, has also collapsed several times, plunging the country into darkness.
At the origin of this situation, we officially learned, is the suspension of investments in the electricity transmission segment for several years, a reality that Sonatrel has struggled to catch up with in recent years, in particular because of the delays in the procedures procurement.
https://www.investiraucameroun.com/energie/2109-18461-electricite-l-incendie-d-un-poste-de-transport-perturbe-la-fourniture-de-l-energie-a-douala-depuis-2-jours
Upside - find viable gas. Pipe to Logababa to clean or straight to Doula and to FLNG plant. Double digit sp!
Downside - no JV takers/funding, no gas, no funds to repay RSM. Hand over part of Logbaba? Higher % of Logbaba..may be lurch on?? Or turn the lights off!
As an aside I think we are now in the situation of maximum downside - so full write off OR massive upside if any sensible plan can be used to move VOG forward. This in turn imho is only going to be achievable via exploration success and monetisation. Don't think there is any middle ground now!!
I believe so REC1.
Personally not so bothered at this point about being delisted - what narrative IF ANY !! will accompany the RNS? Have VOG drilled? Have they found viable hydrocarbons/gas etc? Can it be monetised by JV/LNG etc? What is RSMs stance in this - want their cash now or willing to be flexible or even involved in Matanda? Will gov support any plans? etc. Basically is VOG viable? Also think that if matters are progressed to any degree that an extension would be granted, but then I am not an AIM 'trustee' or whatever they are called. If delisted how will any future info be relayed and the couple of large shareholders may be able to call the shots - hoping as investment vehicles that listing is a wanted entity???
VOG
Sorry
Big have Only two weeks today to either get extended suspension (if that's an option) or
1 , Start trading
2 , Expelled from AIM
Correct???
Thanks for your detailed information
Have much better understanding of procedure .
Would also complicate matters for all the lovely investment funds and Directors that have been granted options!
Looks like an extension can be applied for albeit can't find any concrete rules and also company must still inform market of news etc. Being pragmatic, whether the stock is suspended or not, VOG need cash/gas/Matanda/JV/debt financing/placing etc so would think being a quoted co. is a needed variable be this by extension or readmission to AIM etc.
In such circumstances, you remain a shareholder with all of the rights of a shareholder under company law, but you will be unable to execute or place any trades for the securities of the company in question.
Nevertheless, the suspended company must still comply with all listing rules applicable to it. This means that shareholders should continue to receive announcements on developments that require announcement under these rules, so you shouldn’t be left completely in the dark. In addition, once the circumstances leading to the suspension have been resolved or clarified sufficiently, then a notification to the market is immediately required.
Finally, when it comes to AIM, should the securities of any company be suspended for six months, the securities will be be cancelled from trading unless an extension has been granted.
Thanks, so something must happen soon?
I believe it is a max of 6 months