Let's hope so Greens however you can never be sure of anything with BLVN...Most of us thought the SP would see a healthy rise once the LUK money arrived however we are currently trading lower. Fingers crossed we have seen the low and will start to tick up.
The general tone indicates this is a solid commercial find and they are looking at the monetisation with offtake plans. Better that than a duster! At some point the share price here must turn maybe today is the day. Gas is better than oil at the moment and blvn with cash in the bank has to be a great recovery play.
"We are working closely with Actis and Eneo in Cameroon on a plan to deliver gas for a gas-to-power development scheme in the event of a successful outcome to testing. It is intended that any associated liquids produced would be trucked for sale at the local refinery at Limbe. "
(Ecofin Agency) - Privately-owned Green Energy Norway Cameroun (Grenor SA) has announced that it will be investing $186.66 million into Cameroon's energy sector.
The green energy company said it will use the finances towards the development of gas power plant in the West African country, which is expected to have a generation output of 300MW.
To the country's Monetary and Financial Committee, Cameroon is now generating enough power to meet less than half of its energy needs, Esi-Africa reports.
"Now the deal is signed, we will immediately start sending the thermo plants to Cameroon.” Company official Polycarpe Banlog said adding that the plant is expected to be completed within six months.
Earlier this year, global power service provider Altaaqa Global, successfully installed and commissioned two temporary natural gas power plants having a joint capacity of 50MW in Logbaba and Ndokoti (Bassa) within 21 days.
The country strongly relies on hydropower, which contributes an estimated 60% to the country’s total installed 1,400MW capacity.
However Climate change, poses a huge risk, so the country is being forced to seek alternative power sources.
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