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.
Well that's all I need after all these years stuck in here just when I thought there might be light at the end of the tunnel. I cant throw myself out of my window as I live in an old folks bungalow.
Future drilling, correction
Hi Malbrun, thanks for the info on pipeline capacity, seeing is believing. With regard to production capacity, there is production capacity well in excess of 20 mmscfd, around 60 mmscfd, but processing capacity is restricted by the gas plant to 20 mmscfd. If we can get 2 gas processing plants running at 20 mmscfd each then at max demand we would be at 40% processing capacity rather than 80%. My point being that there is no urgent need to drill as there is more than sufficient gas from existing wells.
RE: Future drilling, correction
Good afternoon Mike. Thanks for kicking off the discussion. Connecting the second power station gives a dry season production of 13.5 mmscfd.(29/12/14) Dangote is expected to add 2.5 mmscfd, taking us to 16. The CEO letter (18/07/13) states a production capacity of 20 mmscfd so in the dry season we are at 80% of capacity. The operational update 29/11/11 states that the pipeline has a capacity of 60 mmscfd.
Future drilling, correction
Thanks for the replies. I am fairly sure that we have 2 x 20 mmscfd gas plants. These cost us $350,000 a month and were supposed to have been bought by us as a matter of urgency. No news there yet. I still believe the pipe line only has a capacity of 30 mmscfd and cannot find any reference to the claimed 60 mmscfd, i would love to be proved wrong. I am trying to work out if VOG can supply all its existing and planned customers from existing supply infrastructure. If we get both power contracts running at max, plus existing customers we will be at about 16 mmscfd. Well within capacity for the foreseeable future. I know we need more supply in years to come, my view is save up then spend our cash, rather than dilute and borrow. I believe this is worrying potential Institutional Investors. Whatever the drill costs are going to be, and I suspect nearer $50 million than $30 million, do we really need to do it this year or can it wait another 12 months? I am aware JG will pay his share but that is a year or so after the event.
I've been reading alot about....
a potential market crash this year,Warren Buffett pulling a lot of his money off the table along with other billionaires...? Worrying that for 4-5 years I've invested in the AIM only to see most stocks loose value and now the threat of a market crash....please google it and see what you think....would love some sensible input into what you all think? GL
Not sure how reliable this is but..... 1. New cement plant in Cameroon becomes operational (News/Plant Expansions) Dangote Cement invested in new plant in Cameroon The cement plant set up in Douala, Cameroon by Nigerian manufacturer Dangote Cement is finally operational, reports Cameroon Info. The plant required ... Wednesday, 25 March 2015
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