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https://www.businessincameroon.com/infrastructures/2206-10443-cameroon-to-save-about-cfaf14-bln-yearly-through-the-cameroon-chad-power-interconnection-project
https://www.businessincameroon.com/energy/1506-10422-cameroon-obtains-cfaf88-bln-loan-from-the-world-bank-to-boost-electricity-access-in-417-rural-communities
https://www.businessincameroon.com/energy/1505-10327-spanish-company-elecnor-wins-xaf15-bln-contract-for-the-construction-of-a-high-voltage-substation-in-nyom-ii
https://www.businessincameroon.com/energy/0805-10299-cameroon-seeks-new-partner-for-the-construction-of-350mw-limbe-thermal-plant
https://www.businessincameroon.com/energy/2206-10444-cameroon-funding-stage-completed-for-cameroon-chad-power-interconnection-project
The government's priority seems to be to develop power within Cameroon and neighbouring regions rather than developing a traditional 'export of energy' model to the West. This is perhaps confirmation of Bordersman's 'elephant in the room' question. This 'regional' model will benefit western companies that provide infrastructure; and operating companies will be dependent on the government for a large part of pricing (like SAVE in Nigeria; and VLU in Turkey) until they develop sales to private business. These companies have little options regards selling to the global export market - thus Bordersman's phrase, if I have understood correctly, 'landlocked'. Thus VOG's fortunes are tied in to the overall regional development of business in Cameroon and Central Africa. Can this model work? In the long term, yes imo.
[extract - Bordersman's post: '... the biggest elephant in the room is the fact that Cameroon seems unwilling to export energy. The landlocked nature of the business model means that the Cameroon government will always hold the keys. Glencore was probably on the money walking away from their sunk costs. i got the message when the drilllcost doubled ( who were the drillers - why was the drillcost not capped?) and took a hit. Ouch. Sage continually warned those on ths board. He was right. As far as I can see a company with big pockets is not gong to ride to the rescue until one can see a clear opportunity for a non Cameroon domiciled company to make exportable profit. It is landlocked and the powers that be are clear in their wish to keep Cameroon energy in Cameroon. I think the business model is flawed ...]
Banjo, that's an interesting comment.
In my portfolio on this site, I still "hold" 1 share.
I left it there, as a way to track the price and keep me reminded about the company.
The buy price was 55p.
And it's now???
As has been said, what have you got right and which part of the usual suspects' comments is them talking out of their backsides?
Are you still confident this company is going to come good?
If yes, please explain why.
All the usual suspects are back and talking out their backsides yet again!
sure is, compass007 - still being vainly pumped like a punctured flat tire.
My god is this dog still limping around? it should be shot and put out of "IT" and its shareholders misery....
try and relay the wisdom here. i suspect it will get ignored. and yet another lesson learned.
I am just waiting for Malchy to give another in depth support for this company ,as an expert in oil and Gas industry ,
I remember his last .
Sage how right you are in your message. I am now slowly compiling a list of these "Directors" who circulate , very interesting
how ,as you say , they circulate together , quite like musical chairs .I am a 10 year plus holder of VOG but have written shares off long ago , just keep looking on here to remined myself not to make mistake again.
I keep an eye on Bowleven. This is Warbaby on advfn-blvn:
"I thought they had a buyer lined up but clearly not." While, as per COC's Letter to Shareholders in Feb 2017, a sale of the company remains the most likely eventuality, until it is known what is being bought, 20% or 25% of Etinde, could there be any realistic offer for BLVN until that is resolved, especially given the margin of difference that 5% represents - 49mboe or 61mboe at P50? As there is plainly a strong JVP desire in the current negotiations with SNH for them to participate (as well as equally strong reasons for the government of Cameroon to take up the JVP offer) it's most likely to be 20%. From the AR: "SNH would also be asked to formerly (whoops!) commit to taking up their 20% share of the licence, which would require them to commit to providing their share of the development budget and their share of currently unpaid back costs. As part of this process, the JV partners may reach an agreement to fund SNH’s share of current and past development costs under a commercial financing agreement" I have long thought a bid from Lukoil, New Age or A N other to be unlikely until post, or at least closer to, FID and with the FEED report, IE seismic reprocessing outcome, FDP and the translation of IM resources to reserves, all due in Q4, that's when there might be more grounds for bid expectations. Additionally, given how it's constituted, difficult to see how the present Board could properly handle a bid, given one member is a nominee of COC and t'other a direct appointee, and perhaps Chahin should have been quizzed on this in one of the Conference Calls: Http://otp.investis.com/clients/uk/bowleven1/rns/regulatory-story.aspx?cid=1058&newsid=1005517 Perhaps, therefore, between now and Q4 a Board change RNS can be expected, which just might, of itself, indicate that summat's afoot.
This is from our RNS of 5th Feb 2020:
· GDC has entered into a non-binding Letter of Intent ("LOI") with New Age Cameroon Offshore Petroleum S.A. ("New Age" and together with GDC, the "Parties") for the supply of a minimum of 25mmscfd of gas from the Etinde natural gas and condensate field ("Etinde");
· To enable access to Etinde natural gas, additional downstream pipeline infrastructure proposed to be developed by GDC to connect this gas supply and be fully debt funded;
· Non-binding term sheet for long term gas supply to satisfy Aksa Energy Uretim A.S. ("Aksa") off-take agreement and other future potential grid power contracts;
Our Roy Kelly is ex-Kerogen. Kerogen are the major shareholders of New Age. New Age and Lukoil are major shareholders of Bowleven. Watch for changes at Bowleven between now and Q4? That might indicate some kind of corporate action at VOG too? Merger/takeover?
Also, imo, keep an eye on activity at SEY.
Not entirely accurate article, and well behind the VOG RNS news - as anyone in SAVE will tell you: there with a big problem of Government non-payment in Nigeria that Save do not want to reveal to shareholders.
At least VOG is up-front about the ENEO payment situation. Long may that last.
https://www.cameroon-today.com/cameroon-business.html
Douala - 'the biggest economy in the sub-saharan Central African region'.
See what you did there Sparrow
ran out of gas?
did the BOD take the engine with them when they left ?
when was that again?
Stretchum - another late reported trade (350,000 buy) today, 600,000 buy yesterday - to continue all week, and on? - institution?
Fingers crossed.
Re 6p+ this week. Is that based on an assumption of some very exciting news or a few buys at 4.5p?
If the former, do you have an inkling as to what the news might be which would justify 6p as opposed to 5p or 10p.
If the latter though, you need to read up on VOG history.
Whatever the case 4.5p all buys this morning...6p+this week
Or is it an organised ramp up of the sp as a precursor to yet another placing?
Suck some more fools in and spit them out
4.32-4.51 ,tempting day traders.. about to start motoring...
Auction on open. Good day ahead
Yeap you called it.£ 25kbuy caused the hike. I'm thinking a big push up in the morning.