REALLY.? who has supplied the HHD machine for them to do the job. FOO. if you really believe it is not costing us you will believe anything. 4-6 weeks just after the AGM, coincidence ?
there is some news coming very soon, mark my words. people in the know know it. that is why the sp has not dropped to much. if something is not on the cards they would have beat the sp down 20+% or more.
sharecare jim says you look like you could be trouble ? lol i could have written your last post, you won't be liked on here telling it as it is. just look at the none,yes none progress since last october. its a complete joke.but some can't see it. or don't want to see it.
so foo get that RNS out, i know you have it in the wings, so stop messing around, get it out this week.
Because it's on top of all the other delays & missed targets.......while I've been a shareholder I tracked them & summarised these just a few months back (maybe slightly out of date now):
• Jul 2009. We expect to be cash flow positive within 12 months. Group not yet cash positive. • Aug 2009. First gas sales by mid 2010. Actual first gas sales July 2012 • Feb 2010. VOG is fully funded and will not need to ask shareholders for more money. But more equity needed: March 2010 £6.8m, 2011 £23.1m, 2012 £14.0m, 2013 £30.5m. • May 2010. The budget to drill 2 wells is $24m. Actual cost $49m • Aug 2011. Target sales 8 mmscf/day in first year and 44 mmscf/d by end of 2014. Actual sales 3.2mmscf/d by Feb 2014. • Dec 2011. The company will lay 32km of pipe by mid 2012. Actual pipe laid by April 2014 is 23 km. • Aug 2012. We are confident to achieve 5 mmscf/d by end of 2012; Logbaba to be cash positive by Nov 2012 and VOG to be cash positive by Dec 2012. Actual results not yet achieved that level. • Mar 2013. £23m equity financing secured & Kevin Foo promises: VOG is fully funded to monetize the Logbaba project, gas sales forcecast 12 mmscf/d by end of 2013, including 30-40MW gas gas fired generation. Company ran out of cash in Oct and was at standstill until Jan 2014 when it secured a $8.3m loan; sales 2.8mmscf/d in Jan 2014. • Jul 2013. Sales forecast 12 mmscf/d by year, lay pipe across Wouri River during Aug 2013, divest West Med by Dec 2013, Soc Gen $30m loan close to closing. Actual sales 2.8 mmscf/d in Jan 2014, River crossing scheduled for May 2014, West Med not divested, Soc Gen loan not obtained. • Oct 2013. Sales forecast 3.6-4.8mmscf/d by end of 2013. Actual sales 2.8 mmscf/d in Jan 2014. • “I acknowledge and take responsibility for missing deadlines and targets” – K. Foo.
Anyways - did I just read 3 immediate connections once that pipe reaches the other side. Seems like they're working from both sides now. Also because of the delay I would imagine the 2nd Britanica team has probably come at quite the discount as a fine for the delay. Lets hope each of those customers won't be consuming a measly 0.01 scuffs per day!!!
No....just expressing my opinions. This is a great asset in a great country. But our journey could have been much faster & more comfortable with a more competent BoD. Foo did excellently to source the Logbaba deal - but he has not been the person to run this company.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.