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'Mr Kelly is far from "in hiding". He is actually travelling to Cameroon this weekend for talks with ENEO.'
RF68. Thank you. That is top news. Clearly Roy is not the sort to go out there for a jolly. I think it will have to do with the refinancing of ENEO in October. Eneo and the country need our gas, and need VOG/GDC to be successful. My guess is settlement will involve dropping the court case and penalty payments; money advanced against the unsettled bills; and the recommencement of supply to Eneo, with guarantees of regular future payments. A positive move for all parties. Fingers crossed for a good outcome.
Regards strategic review, I assumed it would be communicated to shareholders. My assumption is wrong, presumably:
RNS 17th April 2020
NEW CEO & BOARD MEMBER
We are pleased to announce that Roy Kelly commenced as the new CEO of the Company on 23 March 2020.
We also welcomed Rob Collins to the Board this past quarter as a Non-Executive Director and Head of the Audit Committee.
A complete strategic and operational review was commenced, including the decision to provide our shareholders and the market with regular operational updates on at least a quarterly basis.
Just nipped in for my weekly check to see how this goliath is progressing after the rns notification came up, another waste of 5 mins :)
Couldnt hope to disagree with you Noveckingood. A superb username for this particular business.
RF68- I would say this is going exactly same way as TC and Deb, the only real difference is vog will go bust without ever making a profit or providing any shareholder value over the years.
BTW do you still rate this loss making company which is soon due to run out of money, a strong buy?
No comments from RF about the strategic review. Noveck has found him out
Ouch. Truth hurts
So where do they go now?
Net debt up to $12+m , no sign of making any profits but no change there for the last 10 years though, no sign of getting paid by eneo, and running out of money very soon. another cash call but now it will have to be about 1p and another consolidation.
Will this dog ever change apart from another bod's very soon and the current set will probably give up as well.
3CB- Roy looks to of gone into hiding, its all gone very quiet on the strategic review, it did not even get a mention. I believe Roy is here for when this is no longer a going concern and us shareholders are no more, thats when he will start working.
re "still working on his strategic review."
Danno. Roy has been in charge for over 7 months. If there was to be a strategic review, don't you think it would have happened by now?
it may be a while to get back to my £1.74 average!
RF68- I doubt the market will share your positive stance, is it still a strong buy in your opinion?
Nothing positive at all in there, they're simply going to run out of money by the spring, what a mess.
I found it odd we did not hear from Roy Kelly, is he hiding in his bunker, still working on his strategic review.
We can at least be sure of one thing, the SP will be continuing its current trend, down!
Wow! Move along folks. Nothing to see here
it's just resting, or pining for the fjords..
Despite growing revenue, more debt, still loss making, and decreasing consumption
Finally some progress on 108...
Sorry sparrow but I feel your answer to Lea was a tad disingenuous.
I can't imagine anyone on this board , yourself included, didn't think the Q&A would be published. To therefore refuse to share based on confidentiality seems hard to swallow.
https://www.investiraucameroun.com/energie/2910-15472-pour-reduire-les-delais-de-raccordement-l-electricien-eneo-met-en-place-un-guichet-unique-des-clients-industriels
'...In operation for a few weeks, this new window is currently centralizing the operations of connecting three industrial units to the distribution network by the end of 2020. These are: Prometal IV in Douala (9 MW) , Acero Harjaap in Ngaoundéré (2 MW in phase I) and Phalucam in Douala (1 MW in phase 1 of the client project).
https://www.gazducameroun.com/case-studies/prometal-thermal-case-study/
Ok, happysparrow will await tomorrow's news with interest - if it arrives. Additionally, following what was for them an unusually positive trailer, BLVN are announcing their Results next Thursday, Bonfire Night, and seemingly having sufficient confidence in what they will be saying , holding a shareholder conference call on that day, so the issue could be raised then.
As a BLVN holder, it does seem remarkable to me that with FEED well advanced, c P50 50-60mboe, c$9/10m in cash and a realistic glidepath to FID when $25m becomes to them from their partners, BLVN market cap remains stubbornly at just £12m. Too many past disappointments, I guess, a situation many here will no doubt be familiar with
'thought'
Lea - I appreciate you originated this question. However, the company chose to respond to me in a personal email, and didn't publish these responses widely. Thus I regard the correspondence as 'in confidence'. My advice would be to contact the company directly and ask that question. Their response was solid and helpful; and it would be of interest to you.
Apologies that my answer is limited.
I think it is likely that the interims tomorrow may include a trading update; and so, it seems likely that now the company knows what needs to be clarified, these matters will be addressed in tomorrow's update.
If I were you I would read that update tomorrow, and if it doesn't answer your question, or indeed raises more questions, then I would contact them directly.
I though their replies were forthright and responsive.
"Emails were sent to me in answer to my questions at about 9.30am."
Care to share the response to your question:
a) to clarify who is paying for the pipeline;
b) and if it's GDC, to ask what progress they have made on arranging debt funding.
Danno - interims should be tomorrow. This was from the RNS of 30th September:
5. Interim Results to 30 June 2020 - VOG announces that, pursuant to the guidance issued by AIM Regulation in the Inside AIM notification dated 9 June 2020, the Company is utilising the one month extension to the date by which it is required under AIM Rule 18 to publish its interim results for the six-month period ended 30 June 2020. Accordingly, the Company will be publishing its 2020 interim results by 31 October 2020.
I did not enquire about this, but assume all is well.
Regards turning a corner, I don't think Roy would have taken on the job otherwise.
Mr.Sparrow, as you seem to be the only one thus far who has posted receiving 'solid and helpful' replies from the company, do you feel they are looking to perhaps turn a corner?
If anyone else had received a reply this morning, it certainly hasn't prompted them to fill their boots with cheap shares as yet, strangely enough.
Is tomorrow the last day for them to publish the delayed interims, or have I just made that up?
Emails were sent to me in answer to my questions at about 9.30am. Replies were solid and helpful. But, yes, agree - it would be good if they now compiled a list of these questions and replies for all to review, and put them up on their website.