The Goldplat gold recovery CEO welcomes record FY2022 profits and highlights stability of earnings. Watch the full interview here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
You suggest vog can supply the Gas ??
Since November 2021, the company Prometal, the leader in the rebar market in Central Africa, has launched in the city of Douala, the Cameroonian economic capital, the construction works of its 5th plant , which will will produce domestic gas cylinders. “ ?Two other projects are annexed to this factory, in particular the manufacture of wheelbarrows and metal frames? ”, specifies a source close to the file.
Investment of a total amount of 12 billion FCFA, supported by a banking consortium in which we find BGFI Cameroon and CCA Bank, the plant should be commissioned in July 2022. This industrial production unit, which will make it possible to create 250 direct jobs, will then put on the Cameroonian and sub-regional market some 600,000 bottles of domestic gas each year, we learn.
“? Cameroon currently imports around 450,000 to 500,000 cylinders of domestic gas per year, for an amount of around 8 billion FCFA. At full capacity, this plant should allow the country to no longer depend on imports and to export up to 100,000 bottles of domestic gas per year. This should not only allow the Cameroonian metallurgical industry to shine on the African market, in the context of the African Continental Free Trade Area (Zlecaf), but also reduce the country's trade balance deficit ?,” explains an internal company source.
According to the promoters, this plant will market gas cylinders to international standards, while respecting the Cameroonian standard. This should contribute to reducing the tragedies experienced in Cameroonian households, because of old gas cylinders that have become defective. Indeed, according to a joint study carried out in 2011 by the Department of Metrology and Consumer Protection of the Ministry of Commerce and the Hydrocarbons Price Stabilization Fund (CSPH), "70% of domestic gas cylinders in circulation in the country are defective” .
I fully understand how much Roy has done todate given the mess he inherited .
But can't explain why we have not seen results of arbitration!!.
And should be increased Gas sales with oil sky high!!
Roy Kelly Appointed as New CEO and Board Change
Roger Kennedy, Chairman said:
"Roy is a seasoned oil and gas professional and is well known and respected in the industry and amongst investors in the sector. His experience in asset development, both upstream and downstream, and history and knowledge of African oil and gas projects, particularly in Cameroon, will be invaluable to our Company. Roy has shown great leadership and resolve in his past positions, building dedicated and professional teams which have successfully executed their technical and strategic goals. He is known for a pragmatic, hands on and direct approach to creating value.
I have known Roy professionally for eighteen years and have full confidence that he will positively manage the Company and set it on a new, long-term course to ensure increase of shareholder value.
I and the rest of the VOG team are extremely excited to have Roy lead the Company forward.
Roy Kelly, Chief Executive Officer said:
"I am excited and flattered to be joining Victoria Oil & Gas at this time. The company has a unique position and business model in Cameroon, and I look forward to continuing its growth in this and other markets. The Company is not without its challenges and
I look forward to communicating clearly how we plan to tackle these tasks for the benefit of shareholders and indeed all stakeholders."
SP that day
11 Mar 2020 Opened @ 3.8400 Closed 3.5800
That said. What a time to have all your gas sales at low fixed rates when every other gas provider is raking it in
Sp holding up fairly well during the ""special military operation"" otherwise known as a brutal invasion.
Maybe our title has left the herd with the impression that we are involved in oil.
Guinness Cameroon declares having invested 15 billion FCFA to boost its production capacities by 29%
(Business in Cameroon) - In an announcement released on March 9, the Guinness Cameroon brewing company, a subsidiary of Britain's Diageo, declared that it had invested 15 billion FCFA over the past four years. The money was injected, indicates the company, in the production tool, the production projects of local inputs in the North and the Far North of the country.
According to the brewing company, this investment has created more than 15,000 indirect jobs and boosted its annual production capacity by 29%. It thus went from 1.2 million to 1.55 million hectolitres, or 120 million to 155 million litres.
But this announced production capacity remains far below that of the SABC. The subsidiary of the Castel group remains the market leader with 74% of the shares. The SABC, according to the available data (those of 2017), shows a total production of 8.2 million hectoliters of beer, soft drinks and alcohol-mixes.
But the Diageo subsidiary has been involved in the import and marketing of spirits for a few years, with a view to diversifying into this market largely dominated by the SABC.
(Business in Cameroon)
Wednesday, 30 January 2019
Belgian-Turkish consortium Iristone-Ilci to start construction of a tramway in Douala, in H1 2019
In an interview with the newspaper Défis Actuelles, the mayor of the city of Douala, Roger Mbassa Ndine announces the start of construction work on an 18 km tram line in 2023.
The project will be carried out by the Belgian-Turkish consortium Iristone-Ilci. Although the cost of the work has never been disclosed, the builder intends to deliver the work in 2023, it is assumed. The start of construction of this mode of urban transport had already been announced in 2019, for commissioning in 2021.
Work that will never see the light of day. Then in January 2022, the mayor of the economic capital resurrected the project. According to him, it was only in 2021 that the project was implemented in the urban community for which he is responsible.
With respect, are you having a laugh.
VOG can’t even sell gas to customers in Douala, who were supposedly crying out for the stuff, according to Foo.
POO/POG rising with global demand like the clappers, £1m raised via an existing shareholder - one year term to be repaid - assumes some confidence or you could argue dilution if options exercised, Matanda progressing we assume , WM fully impaired already and now looks like not enough power in Cam. Hope arbi comes in soon with a VOG positive and that Matanda spews out the necessary.
(Business in Cameroon) - In an interview with the newspaper Défis Actuels , the mayor of the city of Douala, the Cameroonian economic capital, announced the start of construction work on the tramway during the year " This is the tramway project which comes from Douala 4th to the Agip crossroads. It's 18 km ,” says Roger Mbassa Ndiné.
This project, presented by the Ministry of Urban Development and Housing as a pilot project, will be implemented by the Belgian-Turkish consortium Iristone-Ilci. These partners of the Cameroonian government had already announced the start of work in 2019, for delivery scheduled for 2021. In the event of the actual start of work in 2023, delivery of the site is scheduled for 2024.
In order to make available the electrical energy that the tramway badly needs, and which is lacking in Cameroon, the project included the construction of an autonomous power plant in the industrial zone of Bonabéri, in the suburbs of the economic capital. This infrastructure will be equipped with power beyond the tram's operating needs, specifies the Iristone/ILCI consortium.
Electricity: production deficit, maintenance work and grid saturation plunge Cameroon into darkness
(Business in Cameroon) - A few days ago, Eneo, the public electricity service concessionaire in Cameroon, returned to the rationing of electrical energy in the country. In almost all the main cities of Cameroon, entire neighborhoods are without electricity for hours, or all day. The situation is even more worrying in rural areas, we learn from various sources.
“ The entire electricity system, in its generation, transmission and distribution segments, is experiencing constraints. This leads to an energy deficit which is accentuated by two main factors: the saturation of the transport network; the limitation of production in certain power plants, either for maintenance, fuel supply constraints, or because of low water levels ”, explains the electricity company in a press release dated February 21, 2022.
In detail, we learn from authorized sources, the Memve'ele dam (South region), which until now only delivered about 90 MW out of the 211 MW expected for almost 5 years, saw its production drop by drastically (35 MW) in recent weeks, due to hydrological constraints resulting from the harshness of the dry season. According to forecasts by operators in the electricity sector, this loss of 55 MW cannot be absorbed before mid-March (start of the rainy season), or even the beginning of April 2022.
At the same time, we learn from sources familiar with the matter, the groups of the Kribi gas power plant, in the South region, only produce around 160 MW of electricity, out of an installed capacity of 216 MW that can be extended. at 330MW. At the origin of the drop in production of approximately 56 MW in this plant controlled by Globeleq Africa, an independent electricity producer controlled by the British investment fund Actis (as is also the company Eneo), are the equipment maintenance work, we learn.
However, how did we come to schedule maintenance work in this critical energy infrastructure at the height of low water, a period characterized by the drop in water levels in the dams, and the corollary of which is the drop in production in the hydroelectric power stations, which are then generally supplemented by thermal and gas power stations?
It may have been suggested previously, or I may not know the full facts, but couldn't VOG gas be part of the solution to stop using Russian gas. Have heard possibilities of importing gas from as far afield as Australia. Douala is much closer !
Like buses then 2 come along, another loan note for even more money. Will they ever make a profit ?
Tell us something we haven't already known for the previous 10 years Jed. Lol
I think it's fair to say that any sale of West med in Russia is dead in the water for the next 10 years if ever now. !!!!!!!
Jay on Advfn please tell me what/when???
Great . So pleased my kids' inheritance is saving lives. Much more important that making money
All good but what we want/need is
Tweet/News of arbitration!!!!!!
Victoria Oil and Gas
Proud of our Cameroon operations safety record
Gaz du Cameroun
GDC marking one million man hours without lost time injury
Wonder if anyone in Boris' government is talking to the Cameroon government about allowing vog to export gas to us
4.8% in early trading