truly believe that the anomaly holds a vast amount of oil , the same oil elf where looking for in the 50s, that's why I will not be selling a single share until they have drilled, that will be the mother of all game changes , it will make £2/3/4 a share look very cheap, may have to wait until 2016 ,
Cal it what you like - VOG - a newer less bull**** (?) VOG have put pen to paper to let us/the market know what they are looking at. When I bought in they were looking cash starved and close to the edge 9just post John Scott leaving). Now, claim $18m in bank, should be building with ENEO on board and the jump from drills to Dibamba is not that great a fantasy now they have two power stations on the go.
CNG - prob via a JV.
Thermal customers etc - the cash starved VOG could not afford to probably hook them up ('clusters'?), sio we wait on these.
So, a sweet shop - not really. Why do we need to borrow based on the above? Two drills probably not too far off being funded via bank, with JG possibly contributing - that, nobody seems to know, since they I believe are outside of his Logoba concession - ???
is that not like calling your pal in the sweety shop and asking what's in?... cola cubes, bulls eyes, sour plooms, star dust, white mice, black jacks, eyeballs, etc etc... is the question not, how much money do we actually have and how much can our 'friends' lend us?
Hoping that some of the below will stick! I would also like to think that as and when VOG start to advise market of drilling plans that SP could start on a nice rise - large anomaly, oil seeps on site, a door opener to Dibamba and large chink of assets for balance sheet - I hope
Logbaba LFO (light fuel oil) to gas: 3MW = 3mmscf/d Dibamba Power Station expansion I: 50MW = 10mmscf/d, subject to 10 year proven gas reserve Dibamba expansion II: 100MW = 20mmscf/d, Dibamba III: 200MW = 40mmscf/d Currently identified thermal potential of 10mmscf/d Opportunities for better economics with CHP, Tri and Quad-generation ~ 20mmscf/d Large CNG market potential of ~ 20mmscf/d New exploration and drilling to occur to increase supply in line with these opportunities JV and consolidation with other participants in Cameroon to secure additional reserves
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