It is very quiet and seems not a lot is happening.. BUT... I had a long conversation with the legal hand a Bowleven last week to find out what is going on.. A lot is happening behind the scenes, a full and in depth analysis is being carried out to cut cost.. New directors are being very busy educating themselves on the business, past and present.. A really up beat conversation from a person that has no axe to grind..so all positive from my point of view.. Change is happening and that is what we desperately need, COC saw and still see the value that we all saw years ago.
The bomono agreement is conditional on govt approval which hasn't been given yet. After that, build a processing plant and lay a few km of pipe to connect to VOG's pipeline. Assuming approval is given by the hoped for date I guess you need to allow 6-9 months before gas starts to flow. The 30th June deadline suggests they want to get things in place for the start of the next dry season.
After that revenues will be customer consumption based on an averaging basis across the whole network. I doubt any figures will be reported until after the end of Q1 2018 at the earliest.
when will bomono revenue? with the vog agreement what commitments to deliverable's did they get with penalties if they are late? etinde ? what was the outcome of new age and the gov? no agreement ? so what happens now but with no news COC can hoover up at sub final deal price.
I guess it takes time to take the reigns fully and I'm sure the new BOD are busy familiarising themselves with all and everything. COC didn't go through all this just to watch a different BOD collect bonuses year after year so I'm sure it will happen.
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