An independent oil and gas exploration and production company. Their main projects are based with in Africa and the FSU. Their biggest producing asset (as of the beginning of 2012) is Logababa which is in Cameroon.
Mr Nostromo thank you for the snh link! With just a quick read of Section 35, it seems charges for gas transportation is rightly covered in regulation. Access to infrastructure can not be unreasonably denied, charges for use are covered as well. I also note that use of the network by other parties are subject to capacity availability Good information, I shall digest at leisure.
Having read the BLVN document about the forthcoming meeting my understanding is if COC gain control they plan to divest BLVN of Bomono. Maybe VOG simply have to sit tight and wait to pick up another asset. Cam gov see them as a safe pair of hands and would, I imagine, be only too happy to rubber stamp such a deal and grant an exploitation licence. They can't be happy about the current state of affairs.
Mr Space - agree, but may I draw your attention to Section 35 of the 2012 Cameroon Gas Code. SNH have quite recently made this available via their website. Besides Section 35, there are a few other sections that are pertinent to VOG shareholders.
Mr Naks, for Mr Foo to give up his indirect royalty the Vog directors, especially the non-execs need to reminded of the conflict of interest & perhaps votes against the company used at the AGM! However, I can't think of a company decision that was to Mr Foo's royalty benefit over investors benefits, but investors would still be better served to see the conflict removed
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