Remember the last drilling and the dreaded "Permit Imminent" Shares were about 6p then so we are progressing well. Vog do seem to be at last getting it together so may even add a few more as forgotten what it is like to suffer a boom..
An agreement was reached with SATOM, a road construction company, to lay GDC gas pipe and a bitumen road at the same time.
2.1Km of pipeline has been laid during the quarter to be commissioned in phases over the next quarter. New thermal customers are scheduled to come on line Q2 2016.
GDC Chief Executive Officer and VOG Director Ahmet Dik said: “The seasonal increase in our gas supply is in line with our internal expectations and demonstrates a level of sales stability. Selling to multiple customers and markets allows GDC to maximise the value from our fully integrated gas pipeline. However, both the average figures and daily supply peaks show we are very near comfortable production capacity.
With this in mind, I am extremely pleased with progress made on the gas expansion capital projects by GDC. This quarter was pivotal to staying on schedule and with the drilling rig in transit, key drill site preparation work and the BGFIBank facility secured, we have delivered on all the critical path items in our timetable.
Our collaborative approach to laying pipe in Bonaberi with the road construction company SATOM has also achieved fast, cost effective results. This has allowed us to control costs, minimise delays and the environmental impact on the local area, ensuring we remain on target to deliver the first phase of the 2016 Bonaberi pipeline extension.
Dibamba will depend on the Matanda block completion which will only start once they have completed the Logbaba Drilling Campaign and part of the reason why the $26m debt facility with BGFIBank was granted......I would have thought.
The expansion in both the processing plant and growing customer base will be met by the addition of two wells being drilled early Q3. Dibamba would need it's own/shared processing plant via the development of the Matanda block?
was anything said re extension or renewal of contracts with eneo etc ? maybe this will be in next update ? I think its really very big news and imho is holding the SP back because without it we are in a heck of a muddle !
niceone, well they have 24 hours to complete that one!
Still the Q2 update should be/ has to be a beaut! time to shine. max big power. max savings on the corporate front. max customer usage. POO on up. dollar to pound favourable. all looking great..... oh, yea, we have RSM Production Corp to deal with.
classic sign off .... "Educate the investors as to our unique business and focus on bottom-line delivery". good of the BOD to include us as an after thought. How about presenting on expected value!! what does all this cac mean in terms of £££. "unique business" could mean fleece people and get away with it. How about div projections?
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