Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The fact that the Cameroon state oil company are now open minded about gas exports, does increase the potential upside once a deal can be agreed. Historically, their insistence on the gas being sold only domestically would have reduced the valuation.
Just read the full year results.
Drop a little extreme to be fair.
Where next... sub 3p?
https://twitter.com/zopelyforver/status/1458356168233996290
The one positive from the RNS was the reminder of the $150m value of BLVN's share. So if (and it's a big if) we ever see FID, this should rerate.
The worry is whether the partners now have BLVN over a barrel with the intention of them going bust and buying out their share for significantly less. But then again, even a 50% reduction would still see this at many multiples.
Unbelievable how long this has all taken, especially with a huge strengthening in gas and oil prices. That special divi is looking more and more like a terrible decision, but time will tell. As they say in hollywood, this is in development hell at the moment. But maybe it will all come off, stranger things have happened. It would be nice to get a bit more commentary from the BLVN board rather than these fairly opaque delay announcements every 6 months.
Yes, I’m not getting a good vibe from that rns, yet another year delay, getting firmly backed into a corner now.
should really have kept the 50 million they had instead of dishing out to shareholders and in doing so trash the share price at the same time. We need this FID
Just thought I'd look in and see what this dog of a share is doing. Nothing......as usual.
The spread on this is ridiculous. (28%)
MM must be expecting a big move
With plenty of Gas & Condensate ( 300MBOE ), in shallow waters, BLVN could turn out to be the perfect storm.
With Russian & Chinese money involved onshore and offshore, there shouldn't be any problems with regard to the development costs. It just needs SNH to fulfil their obligations and we should be up and running.
Gas prices flying has got to be very helpful to some agreement being reached for progressing this program... and Bowleven getting next stage chunky payment
So to me not only does this remain a very interesting bet but it has gotten much more interesting again in recent months.. and I'm surprised this s/p has not rallied in that time .. it's waking up a bit today, perhaps.. but from a very low level indeed ...
Still a pretty binary bet granted .. but, as an optimist here, I note that on the right news dropping this s/p could of course rocket..
Thought we would have heard about the new licence by now ?
With gas prices rocketing, exploitation licence in the offering and FID not too far away, makes BLVN look like a better gamble.
The problem here is vagueness of that very statement . Second half could be another approx 10 months away. Still when I’ve waited over 10 years for this imminent multibagger whose counting? At least we have poo rolling in a favourable direction to previous years, which is probably most significant factor.
(Business in Cameroon) - The Minister of Water and Energy (Minee), Gaston Eloundou Essomba, has just published the results of the call for tenders launched on May 7, 2020 for the prequalification of partners in view of carrying out studies, construction and operation in “Build Operate Transfer” mode (build, operate and transfer, in French) of the Limbé gas-fired power plant (350 MW) and associated power lines.
Indeed, referring to the list of pre-qualified companies, the Sino-Ghanaian consortium Sunon Asogli Power Limited (Ghana) / China Energy Engineering Corporation Limited, headquartered in Tema, Ghana, is ranked number one ahead of four others. candidates.
The other respective contenders are: the Sino-Cameroonian consortium Folder Energy Partners Limited-China Machinery Engineering Corporation (CMEC) based in Douala, Cameroon; the Chinese Power Construction Corporation of China Limited (Power China) based in Chengongzhuang West Road (China); Turkish Aksa Enerji Uretim AS and Acwa Power based in Dubai.
" The managers of these companies are invited to contact the Minee cabinet (...) for the rest of the procedure, " said Mr. Eloundou Essomba. The next step will consist of an audition of the candidates in order to obtain a short-list of three companies. Later, the successful tenderer will be declared.
With a production capacity of 350 MW, the future Limbe gas-fired thermal power station aims to improve the supply of electrical energy in the Littoral, West and South-West regions, indicates the Minee. The project itself must be delivered by 2024 at the latest, according to the official timetable.
This pre-qualification stage puts an end to the collaboration between the Cameroonian government and the Eranove group on this project. Indeed, on April 22, 2014, the State of Cameroon had already signed a memorandum of understanding for the realization of this project, with this independent producer of electricity and water, controlled by the investment fund Emerging Capital Partners (57%). But the partnership between Eranove and Cameroon has not flourished for reasons that are not disclosed so far.
https://www.investiraucameroun.com/energie/0909-16826-le-consortium-sino-ghaneen-sunon-asogli/china-energy-e-en-pole-position-pour-construire-la-centrale-a-gaz-de-limbe
maybe it was just practice runs to dust off cob webs ahead of the - hopefully - waves of buying activity to come here 'in due course' :-)
With the poo&g strong and looking to stay so for some time to come there has got to be a decent chance of JV partners and SNH/Gov Cameroon agreeing a way of progressing etinde project to commercialisation, very hopefully.. binary nature of outcomes make this high risk of course.. but I live in hope of duck instead of no dinner..
Why all these price monitoring extensions today? There have been no trades!
up today ....off the back of very minimal trading activity.. although zero trading activity qualifies often as minimal here ...can't wait to se when good news brings a bunch of buyers along
Here's to the next news here being good news so :-)
https://www.investiraucameroun.com/energie/2407-16684-electricite-les-industries-demandent-a-eneo-340-mw-d-energie-supplementaire
My french is not good but I think this may help:
'de la centrale à gaz de Bekoko du projet d’urgence solaire de 30 MWc en cours de déploiement dans le RIN et de deux projets de centrales solaires en IPP avec de fortes perspectives de closing financier début 2022 », liste l’électricien.'
There should be a comma after Bekoko?
'du projet d’urgence solaire de 30 MWc en cours de déploiement dans le RIN'. I think this refers to this project: https://www.businessincameroon.com/energy/2107-11788-italian-firm-enerray-obtains-investment-incentives-for-its-30mw-solar-plant-project-in-garoua.
The RIN refers to the northern Reseau Interconnecte Nord (RIN) transmission systems in Cameroon.
There should be a comma after IPP?
'avec de fortes perspectives de closing financier début 2022' should be read as one phrase.
Thus my, perhaps optimistic, reading of the article is:
The Bekoko gas plant has strong prospects of being financed by the beginning of 2022, to be brought online sometime 2023.
[This would tie in with the Etinde project reaching FID in Q1 2022].
All looking good!
seller about clearly.. so another ouch happening here.. as is easily the way in this illiquid doggy.. and this share once again showing clearly that it's not for the feinthearted.... but I remain long and strong and live in much hope and some expectation.. but, again, 'ouch'
hTtps://www.energyvoice.com/oilandgas/africa/ep-africa/336970/new-age-cameroon-2024/ was posted on the ADVFN board. The first few lines of the article say New Age is targeting FID early 2022, which corresponds with Bowleven's last statements.
It's hard to forgive Mr Danogate supporting the Gunners Happysparrow :-)
And I very much hope he sticks with what he's great at instead of buying some or all of those misfiring weapons. But, if he can contribute to creating a future Cameroon energy demand picture that helps justifies Etinde being brought into production, I'll be forever grateful to him.
I remain long and strong here :-)
https://www.investiraucameroun.com/economie/2406-16553-apres-le-ciment-le-nigerian-aliko-dangote-annonce-des-investissements-dans-le-petrole-et-le-gaz-au-cameroun
“ We are established in Cameroon a few years ago and we will continue our investments not only in the cement sector, but also in oil and gas and other fields. ...This meeting also gave me the opportunity to say thank you to the president, who showed us that he is on the side of investors. And this encourages us to invest more in Cameroon . Aliko Dangote added.'
Dangote is the richest man in Africa, worth $11 billion (he also supports The Gunners):
https://en.wikipedia.org/wiki/Aliko_Dangote
His conglomerate owns a refinery, fertilizer plant, and petrochemical operation:
https://en.wikipedia.org/wiki/Dangote_Group
https://dangote.com/our-business/oil-and-gas/
Limbe Cameroon needs both a refinery built and a fertiliser plant. Could Dangote be investing here? If so, it ties in heavily with the Etinde project.
https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/
--The reconstruction of Cameroon's Limbe refinery, which suffered from a fire in May 2019, was not expected until 2021. Four out of 13 units were completely destroyed and three partly damaged. Meanwhile, Cameroon officials talked to Russian oil companies during the Russia-Africa summit in Sochi about the potential participation of Russian companies in the rebuilding the refinery, according to reports. Cameroon's sole refinery is one of the few in the region to have undergone a successful upgrade program over the past two years. The refinery increased its capacity to 72,000 b/d from 45,000 b/d through the upgrade, which involved the construction of a vacuum distillation unit, a catalytic reformer and a power plant.
https://www.spglobal.com/platts/en/market-insights/latest-news/oil/020620-refinery-news-roundup-new-projects-approach-construction-in-angola-uganda
https://www.businessincameroon.com/agrobusiness/2305-4084-ferrostaal-signs-a-gas-supply-agreement-to-its-giant-fertilizer-plant-to-be-constructed-in-limbe-with-euroil-and-nhc
https://www.reuters.com/article/cameroon-china-investments-idUKLR48475320081127
Noticed this comment on page 5 of Eneo's stakeholder bulletin : https://eneocameroon.cm/index.php/en/actualite-communiques-en/communiques-communiques-de-presse-en/3091-stakeholder-bulletin-first-quarter-2021
'Major work is underway on generating units at the Limbe and Edea power stations.'
The last news I had on this was:
https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/
Presumably there is now a new partner (not Eranove) for Limbe?
Getting ready for Etinde gas?
It's probably Kevin Hart, buying back in, clever sod.
the volatility in this share is something else.. not for the feint hearted as they say.. but I still believe - aka hope - and remain long and strong here
Someone's got to be pretty confident to buy 250k shares!