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Ministerial Approval on Matanda Licence Extension Received
Didn't sparrow go on about some huge gas storage ships tying up in the harbour a while back. Is that an option?
it would be good if they could export the gas to europe as we are screaming out for the stuff but i doubt there is any infrastructure to get it on a boat. but could turn this old dog into a winner. just a thought.
So with only a few days to go before christmas, now would be the ideal time for vog to issue a placing or bad news so there isn't time to react to it.
Seems positive news but nothing ever benefits vog!
They won’t be gas lights that’s for sure :)
Let's hope they turn the lights on soon!!
(Invest in Cameroon) - The State of Cameroon has begun the repayment, in two months (December 2021-January 2022), of 182 billion FCFA of debts due to Eneo, Invest in Cameroon has learned from several official sources. In addition to the country's exclusive electricity distributor, independent power producer Globeleq, which controls thermal power plants in Douala (DPDC) and Kribi (KPDC), and public companies in the sector will also be beneficiaries through runoff effects.
For the government, with the holding of the African Cup of Nations (CAN) football in January 2022, in Cameroon, "the issue of dealing with the financial situation of the electricity sector is taking on its full scope and requires a solution". Hence this Herculean effort at a time when the state coffers are not in their best shape. Indeed, independent energy producers and other fuel suppliers had begun to ration the energy supplied to Eneo due to accumulated unpaid debts (155 billion at the end of 2019). This situation threatened the smooth running of the CAN.
A dual process
On December 17, Eneo should receive a payment of 70 billion FCFA. This sum represents the execution of the first part of a repayment agreement of 143 billion FCFA, signed on December 15, according to sources close to the file. This money is to be used to pay compensation for the assets that have been transferred to the public electricity carrier Sonatrel, to pay the State's consumption and the tariff subsidy for the year 2021, to advance the 2022 tariff subsidy and to settle part of the debts of the public companies Alucam, Camwater and Camtel.
More.......
https://www.investiraucameroun.com/energie/1712-17299-electricite-l-etat-s-engage-a-rembourser-en-2-mois-182-milliards-de-fcfa-de-dettes-dues-a-eneo
Little more active today !
Couple of good buys .
They're running out of time but one always lives in hope.
Will we get any News/update before Christmas?
Seems captcash & Travis called this spot on.
(Business in Cameroon) - According to information communicated by the Minister of Water and Energy, Gaston Eloundou Essomba, during the current parliamentary session, the public electricity sector is losing money because of 'an increased tendency for manufacturers to produce energy themselves.
“? Due to the instability of the network, manufacturers are increasingly engaging in self-production of energy. Indeed, the latter use equipment, with a power of 450 MW such as boilers, ovens, dryers that run on fuel oil, diesel, oil, wood, gas to the detriment of the electricity produced and injected into the electricity transmission network. It is in this capacity that I met the members of the Cameroon Inter-Employer Group in July 2021 in order to share with them these results which are causing the electricity sector to lose several billion CFA francs / month. ?», Declared the member of the government.
Still according to the Minee, to avoid these losses to the electricity sector, manufacturers have set as a prerequisite for the migration to adapted electrical equipment, the improvement of the quality of the public electricity service. According to the concessionaire Eneo, the discontinuity of electricity service to subscribers is accentuated by the dilapidated nature of the transport and distribution networks which cause losses of around 40% of the energy produced.
https://www.investiraucameroun.com/energie/0312-17233-au-cameroun-l-autoproduction-de-l-energie-par-les-industriels-fait-perdre-des-milliards-de-fcfa-au-secteur-electrique
And now?
Every time small gain and then lower than before !!
Must be some News that can hold this up !
Markets tumbling and every one of my shares down. Except VOG which is slightly up. Hhmmm
Quite right jed. After all he was only 89. Taken from us so soon
Knowing Jack Grynberg, his family , RSM or the US they will probably try to sue vog for the death of Jack saying vog caused it all by their constant problems and disagreements.
Nothing goes amis in the US.
Chocolatier Chococam posts record turnover of 36.9 billion FCFA in 2021
(Invest in Cameroon) - The South African group Tiger Brands, parent company of Chocolateries and Confectionery of Cameroon (Chococam), recently published its financial statements for the 12-month financial year ended September 30, 2021. The document consulted by Invest in Cameroon reveals that the turnover of Chococam, its Cameroonian subsidiary, set a record by crossing the symbolic mark of 1 billion rand (or 36.9 billion FCFA) during the period under review. This reveals an increase of 2.2 billion CFA francs, compared to the turnover of 34.7 billion CFA francs (942.3 million rand) at the end of September 2020.
https://www.investiraucameroun.com/industrie/2411-17190-le-chocolatier-chococam-affiche-un-chiffre-d-affaires-record-de-36-9-milliards-de-fcfa-en-2021
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https://www.gazducameroun.com/our-clients/
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https://www.victoriaoilandgas.com/media/
Yes news as of late been more positive.
But what we need is the ICC arbitration results!.
Also undated information on West Med sale!
Yes, definitely a positive as far as VOG is concerned.
He died on 11th October aged 89. (see wikipedia)
Should not affect arbitration result, but whatever the result, perhaps may lead to a more amicable and negotiable implementation of settlement? And possibly better and less litigious relations henceforth.
Too, possibly RSM will want out of the partnership, either selling us their 37% on the cheap, or selling out to a bigger player with experience and firepower (possibly even Afentra?) - who may even wish to buy the whole shebang.
Looks a longterm positive event for VOG imo.
Not unusual for large trades to be delayed
Chunky buy before close 700k @ 4.05