I too am giving him the benefit of the doubt at present , I have no choice IMO , though that doubt is increasing . I live in hope that KF has everything under control and has a master plan to deliver a raft of good news to propel us forward . That any day now he will pull it out of the bag . Here to hoping . GLA
Border So you are making your own time frame up , KF said contracts before christmas , you are saying late spring , connections and supply VOG are saying March April you are saying end of 2015 , remember KF only stated this 2 weeks ago
It's about time the company started to deliver on it's promises . We seem to be here again , expectations are high that before the end of the month we will hear of a positive outcome from the audit , we will have 3 new customers taking gas the other side of the Wouri and most importantly we will have a contract signed for big power . We now know that the Dangote hook up is almost certain to take place sometime early in the new year for reasons beyond VOGs control . There are also other hook ups planned on the Douala side of the river within the next phase of VOGs operations. Should the latest batch of promises come to fruition within the expected time frame then imo we will get the long awaited SP re rate that has been far too long in coming. With the now much limited number of shares in circulation , the rocket is bound to take of as a result of a string of good news. God help the bod if in order to ensure the consolidation they have fed us another batch of false promises that won't occur within expected time frames. They still have the benefit of the doubt from me . I still believe that these planned events will happen before the new year. But if they don't I will be the first calling for an EGM in order to bring about some changes. I reckon there are plenty of long termers here in the same situation as me giving the company the opportunity for one last throw of the dice . Fingers still crossed at the moment.
Subsequently went to arbitration which is ongoing. panel last met on Nov 17th.
Also from the summary of the arbitration last year
"In May 2013 the Tribunal accepted RSM's request to withdraw four of its claims in the arbitral proceedings 'with prejudice' including its claim that Rodeo Development Limited (RDL) had unilaterally and wrongfully applied for an Exploration Licence of 44 sq. km adjacent to the Exploitation License area"
bigeasy yes i hope that clown has nothing to do with those drills. but you can bet your bottom dollar he will. he will make sure he gets a nice weak contract, that he will be able to add to the costs,and have another royalties contract written into it for himself. i can see us not really needing to do these drills next year, but hell lets do them anyway as foo will make a killing again.
what has happened to the Remediation of Well 106,i thought he said that was planned for end of year. i see in the last presentation that its sometime in 2015 now.
Jack J. Grynberg is the President and CEO of RSM Production Corporation. He is an eminent and highly experienced expert in the fields of hydrocarbon research, exploration, development and production. He has been resolute and highly successful in defending his and his family's companies' interests where necessary through negotiation, arbitration and other litigation. RSM Production Corporation (RSM) operates as an oil and gas exploration and production company. The company was incorporated in 1996 and is based in Denver, Colorado. RSM owns a 40% interest in the Logbaba Concession. The Logbaba Concession was granted to RSM by the Republic of Cameroon on 31 May 2001. On 9 August 2006 RSM assigned an interest to a VOG subsidiary, which was approved by Cameroonian Presidential Decree on 29 November 2006. It is a matter of contention as to whether the assignment was of a 50 per cent interest or a 60 per cent interest in the Concession. In 18 July 2011, VOG asserted that pursuant to the provisions of an operating agreement between the parties, RSM had forfeited to VOG its remaining interest. This assertion is disputed and is subject of ongoing and protracted Arbitration between the parties. In July, 2011, VOG refused to accept RSM's payment of an outstanding $4,100,000 forcing RSM to demand arbitration. RSM rejected VOG's claims that RSM had forfeited its interest in the Logbaba Development and the Government of Cameroon has not approved the transfer of RSM's remaining interest in the Logbaba Development to VOG. A Republic of Cameroon Presidential Decree executed on 3 December 2012 confirms RSM's interest.
Most of it was sorted but I was unaware of the implications for the gas supply contracts they could be made null and void resulting in chaos for vog cash flow?
Of course the fool would keep quiet about JGs action against Cam. Gov.,but it s outcome could have serious affects on the company as such shareholders should have been advised. I could have it wrong ?'So welcome checkable information that JG versus Cam.Gov., has been resolved.
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