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45p
Nice to see some positivity here after years in the wilderness. Even the macros are looking good when we start to get into production, so let's sell to the highest bidder. www.cnbc.com/2018/02/26/shell-warns-of-lng-shortage-as-demand-for-liquefied-natural-gas-booms.html If NA are going to FarmOut then maybe China or Russia will take future gas for cash now...?? Or will Etinde investment be the central theme of NA's IPO ..?? Will we have 20% or 25% of the project..??
The next step is a the gas sale agreement... who is going to buy all the gas.. maybe Glencore
It is a little surpassing, but maybe, just maybe this BLVN is going to full-fill its potential.. if you were going to to invest 1.5 billion on a FLNG tanker and probably another 500 million getting ETINDE developed.. the return is many multiples of that.... our share realistically could be worth over 1 billion USD... not thats something that worth waiting for...
Now that new age have signed this new gas deal and blvn will get a 25% share of the goodies, I am surprised that new age hasn't jumped in and bought blvn out-right before the sp takes off, after all they will get back most of their money from the 25% stake income. Also blvn still have the bomono field in their back pocket after the vog deal fell through. blvn could be worth at least 80p - �1 later.
For me this has de risked the whole investment.. sit back and enjoy the journey.. day to Day moves are now irrelevant, The end game see�s us many multiples from this price.. enjoy LTH�s
1MSN - I agree that this is starting to look extremely exciting. What we really need now is a statement from the company explaining the full context for Bowleven and how the massive investment in the locality will rub off on Bowleven's investment. I think we may have to be wait for the results of the drilling before all parts of the jigsaw puzzle are pieced together but management may want to start a steady flow of announcements/teasers to set the scene and to ensure a higher base from which to really take-off.
https://www.gov.uk/government/news/international-visits-pay-off-for-british-business
The announcement yesterday provides all long time holders that light is at the end of the tunnel.. Etinde is world class already and the revenue stream if it goes that far will be significant and may take BLVN back to the heights of pounds per share.. we have been drilling the appraisal wells now for nearly 3 weeks... My gut thought is they were waiting for conformation that the reserves are larger than previous... We have to remember New age are the operators and any information has to come from them to us.. we are slightly in the dark as yesterdays announcement shows.. Etinde is al over the press today and in numerous papers and reports.. this is a game changer that puts Etinde on a path to delvelopment..
Jersey-registered but London-based Africa E&P independent NewAge said June 8 that its CMLNG subsidiary has signed a gas convention agreement (GCA) with the government of Cameroon. It sets out fiscal terms for its planned floating liquefied natural gas (FLNG) project offshore Cameroon and was signed in the capital Yaounde the same day, with energy minister Eloundou Essomba Gaston present. Sources say the 1.3mn metric tons/yr FLNG export project is still eying start-up in 2023, implying a final investment decision will be taken within the next two years. NewAge chairman Steve Lowden said: "The outlook for LNG markets is structurally attractive through the first half of the next decade when our project will be coming on stream." Project company CMLNG remains wholly NewAge-owned, but sources indicate it may seek additional investor partners; state E&P company, SNH, is believed to have a right to opt in to a small minority stake. CMLNG will utilise a newly-built FLNG production vessel to process gas from the Etinde production sharing licence. NewAge said a contract was awarded in 2016 to a consortium led by SBM Offshore, in conjunction with Japan's JGC Corp and Chinese partners to build the vessel. Its expected process capacity is 1.3mn mt of LNG per year, plus 32,000 b/d condensate and 0.15mn mt LPG. In addition to the production vessel, NewAge expects that a "substantial onshore administration and logistical support base" will be developed in the coastal cities of Limbe or Douala. The FLNG project will be developed in conjunction with the upstream Etinde development (operated by NewAge 37.5%, alongside partners Russia's Lukoil 37.5% and UK-listed Bowleven 25%) which will include gas and LPG/condensate production facilities, added NewAge. NewAge said June 8 that, over 25 years, the FLNG project will spend over $1.5bn locally, creating "significant revenues for the government" and further development of a large onshore marine support base with the creation of over 350 skilled local jobs and a further 3,000 indirect jobs; a dedicated training centre is also planned for development in Douala, as well as graduate placements. Cameroon, through a project led by French firm Perenco and involving SNH and Golar LNG, became the first and so far only country to develop a FLNG export venture offshore West Africa, exporting its first cargo on May 17; that project attained commercial acceptance earlier this month.
may give this a kick up the ass
Would be nice to receive an RNS confirming the project together with a bit more detail.
If we're still here, then I suppose RBL could be used to supplement the tens of millions we should still have in the bank. But I suppose the theory is that when the new CPR's are published then we are put up for sale ..?? Dec / 17 """The second is in Cameroon, where NewAge is operator for the Etinde joint venture, which has rich gas and a development concession from the government that includes FLNG. This, too, may produce 1 mta of LNG. NewAge has completed the tender process for the vessel alongside the CBLNG tender process. �There is clear motivation for the stakeholders to want to take FID on this project before the end of 2018 � although the upstream joint venture plans to drill more wells to prove additional gas, which may be sold to other domestic and export markets or used to expand the FLNG project,� Mr Lowden says."" http://www.lngworldshipping.com/news/view,newage-taps-opportunity-in-african-flng_50093.htm Maybe UKGoV is claiming credit for old news ...??
Its looks like NEW age are going to build the FLNG scheme and use the gas in ETINDE... will we have to fund 20 % of the cost?
On UK Gov Website https://www.gov.uk/government/news/international-visits-pay-off-for-british-business
If this is true why has the market not picked it on it, 25% of 1.5 billion is 375 million. How much would that value our company at and what would that equate to per share? I'm sceptical but hope it is right.
The Press states ETINDE
This deal with new age must be on another gas field that new age is involved in, or maybe they know there's plenty of gas in our joint venture field and they are just getting ready to move forward with it. Could be very good news if we are also involved.
Does that mean they have found more gas and more reserves..... Fantastic news
Etinde agreed and signed in 1.5 billion deal http://www.upstreamonline.com/live/1508492/second-cameroon-flng-project-set-to-go-ahead
Capitalising on recent foreign visits by Cameroon�s Minister Secretary General, the Presidents of Panama and Turkey and the Prime Minister of India, UK businesses have been exploring exporting opportunities with some of the fastest-growing economies. London based oil and gas company New Age and the Cameroon government have agreed a deal whill will see the development of a floating natural gas project in Cameroon. The deal comes after Trade Minister Baroness Fairhead�s meeting with Minister Secretary General Ferdinand Ngoh Ngoh. RELATED ARTICLES EU in bid to KEEP best UK workers after Brexit revealed in memo European port bosses TERRIFIED of Brexit - 'We're not ready' Meanwhile Dorking based Biwater expanded a deal with Panama following a visit by the nation�s president Juan Carlos Varela last month. Dr Fox said: �International visits by foreign ministers aren�t just good for the Government but for UK exporters across the country too, so that local companies can expand their global reach. �There are strong reasons for the UK to be optimistic about our presence on the world stage and this series of deals, worth more than �1.9billion, showcases Britain�s world leading capability in key sectors such as cybersecurity and life sciences as we leave the European Union. �That is why as an international economic department we provide a wide range of s
UK has just signed a 1.5 billion GBP deal for a UK company to deliver a natural gas project in Cameroon. Solid news. https://www.express.co.uk/news/uk/971445/brexit-news-eu-uk-trade-deals-liam-fox-cameroon-trade-deal-india-turkey
chunky sell; this is sooooo boring