Here are some of last years rns’s Jan 2015 trading up-date The 14 days to 17 January 2016 produced an average production of 15.3mmscf/d with a peak of 16mmscf/d April 2016 Trading up-date 13.2mmscf/d Q1 2016 average gas production The key corporate and operational objectives for the Group for 2016 are to: Increase gas supply to customers by 30% over 2015 levels · Successfully complete a two well drilling program for expansion of gas reserves · Complete designs for increasing the gas treatment plant capacity to 40mmscf/d Expansion of gas reserves to feed expanding market GDC will be drilling two new wells on the Logbaba concession in 2016, with spudding of the first well anticipated by mid-year. Both wells will be drilled on the current Logbaba site with well LA107 a twin of well LA104 (previously drilled in the 1950's) and well LA108 a step out well adjacent to known formations
I would be surprised if we hit 16-18nnscf/d, more like 8-9 at best but we should be much more than that after adding more customers, something is just not panning out as they should be are.
Nobody knows the longer term, but going of past form the price all but doubled when the Eneo deal was afoot Visability of earnings, coupled with extra thermal customers & drill results, & processor expansion ''could'' finally re-rate Vog
As we are due the 4th quarter update on Monday week which will also say Q1 now selling 14 or 15mmscf/day etc & will mention the latest drill depth, I feel & may mention extra connections & may mention that Eneo deal is still being negotiate I bought another 4500, to add to my 39pence punt
I know that Brag however it prompted my thoughts to what would Eneo do if not renewing the contract & I can not see gas gensets being removed & diesel gensets being bought, or rented So Eneo have a choice I feel of re-newing, or decommisioning 2 power supply plants in Douala I can not see the latter choice being popular when the lights go out!
click on vog share News regulatory and it goes back through all rns,s vog ever made number five second from bottom and if you care to see fromthe beggining of vog just Keep going the complete history is there but i shouldn,t Need to tell you that
That is the crux of the matter These plants, Logbaba & Bassa, are basically for back up & dry season use I can not see Eneo removing the new gas gensets, & refitting with new fuel oil gensets Why would they?? Gas is cheaper, cleaner, & no Hfo storage requirements So Eneo, as I see it, either continue with gas gensets or scrap having Logbaba & Bassa power stations!!
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