I don't think ENEO would buy VOG as they are in partnership with the Cameroon Government and seem to be constantly threatened by politicians responding to populous demands to put the energy problem right - the fact that it's not ENEO's fault seems to be lost on them.
But lets not forget ENEO are really part of a bigger outfit Actis owned Globelec and ENEO. CDC and Norfund took oven Globelec, though the only new player in the game is really Norfund as the CDC also own actis. As you can tell I'm not sure who owns who anymore lol. But ultimately I believe it is the British Government (CDC) and Norway's sovereign wealth fund own everything between them, they run Dibamba and Kribi as separate entities from ENEO. Now with Norfund on board they are cashed up and looking to invest so I think a take over of VOG would be a possibility via some other investment vehicle other than ENEO.
When Norfund bought in it was reported they would invest a huge amount in Africa to create 5000Mw of new supply - very little has been announced since.
See we are grinding along - not sure if that is good, or bad? Certainly no bad news but market not reacting to good either. No surprises - suits me.
VOG should be a glaring target for a long list of competitors or users: BLVN, Dangote/cement consortium, ENEO, companies looking to diversify into Africa, blah blah blah.
The reality is that the current mcap and corresponding sp would not stay still for very long given any bid, thus making the current 'bargain' valuation irrelevant and then there is the thorny issue of RSM and its requirements.
Personally would not like to see us bought out given exciting drilling plans, Matanda potential;, bigger power etc...we all know the list!
Hi jtd I wonder if there is any possibility that ENEO would make a bid for VOG? . They have the $ and will need provision of our resources for a considerable time. Makes good sense for ENEO on a number of fronts , so could be a consideration.
are designated as Emergency supplies be ENEO (that how their boss described then in his IPad speech).
That's different from how VOG tend to describe them, normally "Temporary", ENEO's emergency has not eased, if anything it is becoming worse and I suspect that they will find it politically impossible to withdraw the temporary "temporary" solution in the face of growing demand and customer/government dis-satisfaction.
Interestingly, my longstanding view was(and is) that ENEO will convert Logbaba and Bassa to Gas. All they have done so far is install temporary Gensets and presumably the Diesel generators are standing idle.
If converted to Gas that would double VOG's capacity.Reading all the notices of improvements to the transmission system around Bassa/Logbaba and into Boneberi it leads me to suspect they are gearing up for expansion or at least greater utilisation of the stations - doubling up at Logbaba or Bassa would be cheaper and quicker for VOG than supplying Dibamba and the conversion should be a no brainer for ENEO when VOG prove up their gas. Very little work I would have thought for either company.
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