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RF68, Thanks for that info, So if I send an email to the bod's they should confirm everything you say as this must be free info for all the shareholders and they should be happy for me to put it out on the board.
Don’t make me laugh.
https://en.wikipedia.org/wiki/West_Siberian_petroleum_basin
The West Siberian petroleum basin (variously known as the West Siberian hydrocarbon province, Western Siberian oil basin, etc.) is the largest hydrocarbon (petroleum and natural gas) basin in the world covering an area of about 2.2 million km2.
I think I recall RF mentioning $10-15m sale price for our West Med assets?
You might ask yourself where the unsolicited interest came from and why Gazprom are planning to explore a block which is close to or possibly adjacent to west med and the processing facilities of the Medvezhye field, if it is so expensive. WM would most likely be a good fit. Prospective reserves of c 1.4bn boe. And these are v. conservative as published figures.
100's if not 1000's of successful wells have been drilled on that peninsular in 3 supergiant gas fields so the geology is well known. The big players should be able to maximise the opportunity, and at lower cost, in a way that might not be possible to VOG.
This article was just before VOG announced the interest.
https://www.upstreamonline.com/exploration/gazprom-targets-exploration-in-region-with-huge-gas-projects/2-1-766554
I've only seen these headlines but it's clear enough where the location is.
The problem VOG had was mainly, I believe, a market access and distribution cost one using Gazprom's processing and distribution network and the low end price they would get from the power station they had lined up.
I don't believe they would have engaged the agency they have if there wasn't a serious prospect of selling and I doubt it will go for peanuts either.
Same old chestnut again, I think even Foo came to the answer in the end that they couldn't sell West Med no matter price was on it because of it's position and the cost of getting the gas out was more than what it was worth.
And it is still costing £1m a year to keep it on the books.
It's an asset that's worth nothing, just come to terms with it.
Cameroon cuts domestic gas subsidy by CFAF 4.7 billion at end-September 2020
https://www.investiraucameroun.com/energie/0501-15784-le-cameroun-reduit-de-4-7-milliards-de-fcfa-la-subvention-au-gaz-domestique-a-fin-septembre-2020
Dactions - the problem is that payment is ultimately from the government. This is why ENEO is not able to pay GDC.
It is the same for the other power stations that are proposed.
The company has been bled dry by previous management incompetence and greed IMHO. Drilling is also extremely high cost.
Thanks RF68 - it's always good to have another view.
RF68 - is there money to be made in VOG at its current level or could they go bust at any time without ENEO paying up ? Like just about everyone I guess that's been in VOG, I've lost heavily.
Is there a chance that a shareholder could come good at these low levels ?
I was a holder here for years and sold out at around 22p
First look in a while and there have been a few developments. Would consider getting back but there just doesn’t seem to be the demand for the gas. Supply is going to be great but I don’t understand the power stations not taking the gas?
Wouldn't last long on my pate. Not enough to cling to
Lol.
Nitpicking, 3CB? Use an old-fashioned metal comb.
A rising tide floats all boats - even in Batter-sea. Useful to Lukoil and New Age in Etinde project. But, yes, more relevant to JSE (marine oil - LSFO- which sells at a high premium to oil).
But vog is gas so not sure of relevance of article about oil
Sparrow. Not sure what to believe with you.
You clearly stated in that earlier repost that nothing else mattered but 7p+ and if still in 3 to 4p range at year end, you would be out. . Yet here you are admitting that you sold one third of your holding for 6p in November.
This was posted on Advfn JSE by Mount Teide:
‘Profits will grow seven-fold' – why oil stocks are set for a bumper 2021 - Telegraph 'The oil sector is primed for a blowout 2021, with profits set to rise seven times compared with 2020. UBS, a bank, calculated which investment sectors would grow their earnings the most next year, according to the views of hundreds of stock analysts. The research focused on American stocks, but sectors across the world behave in similar ways. Surging profits at American oil companies would be caused by a higher oil price and rising international demand, which would also have a positive impact on British firms. UBS found that the energy sector, which is dominated by oil companies, would grow earnings per share by 625pc in 2021. London-listed Shell and BP are among the world’s biggest players.....As the oil price crawls over $50 (£37) on the hopes that the new vaccines will get economies moving again, oil firms will once again start making a lot of money and increasing dividends.” He added that Shell and BP would need to pivot from oil to renewables to be viable long-term holdings.....'
3CB - you might have noticed we hit 8p in November. Took some profits then - and now content to hold on to two thirds of stake fairly risk-free. Roy has been most impressive; enough for me to keep backing this company for at least another 6 months. Expecting a move back up to 8p not before long. Fingers crossed.
And Happy New Year 3CB, and all.
Smoke. Sparrow post June.
The plan I'm working to, BS, is a share price at year end of 7p+. That's all that counts. If it's still at the 3p / 4p level, I'm out. Time and Tide wait for no man.
Christmas 2021 - going concern ??
You selling up this week sparrow?
only if you avoid this company ho ho ho
Wishing a happy Christmas and prosperous new year to all holders. This time next year we'll all be millionaires.
Bet you can't guess which of my 8 shareholdings is the only one dropping
Looks like we're not going to get a surprise Christmas present from ENEO or West Med. There's still time I guess.