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.
I see little or no mileage in bleating about the BOD. For the past few months they have done everything they said they would , more or less, on time. All major targets have been met in Cameroon. We could certainly do with some news on West Med but events have conspired against us there, all out of our control, and it would seem that has been mothballed. Cameroon costs down, sales doubled year on year on year, production doubled year on year on year. I agree with dan-de-lion that the dry season figures will be maintained throughout the wet season as they is such a power shortage. Big profits coming very soon.
Good chance seeing the lack of power in Cameroon that the 50mw will be generated year round.
I would expect 4- 5 scruffs a day not 3,5 as these companies would not sign up for anything like the minimum they would use. There is not a chance in hell they would take 3 and pay for 3.4 they will have a margin in there where they would consider the minimum they would use and set the minimum they will guarantee to take or pay below that by at least 10 -25%. Thats how i see it
Oldtimer I think you'll soon find out that one way or another your wish has been granted.
From RNS Number : 6356K 17 April 2015 Foo has stated gas sales for July – Dec which are below. A maximum combined power generation of approximately 50MW equates to 10.1 mmscf/d of gas with the minimum take-or-pay terms requiring payment for90% of this during the dry season (January-June), and 30% in the wet season (July-December), So that equates to about 3.5 scuffs for the power plants gas sales in July – December Plus about 5.5 scuffs for the other customers making a total of 9 scuffs for the rest of the year, So I can not see the end of year to Oct gas numbers or profit being that great. Need more new customers now.
SP will not re-rate until October when year end final results are published. More likely it will not be until Feb 2016 when the interims come out which will show only those months when the 2 power stations were connected. I expect those figures to show VOG has doubled output of gas and doubled revenue year on year on year. Then we will take off. Wait for the results. Cheap as chips at these prices. ZZZZZZZZZZZZZZZZZ
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