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Noting previous claims by certain newbies of near term share price rise to 7p based on good news.
As that was at the time when the SP was over 4p, should we now be lowering our expectations to a near term rise nearer to 5p. Or in other words, less than 1p above the SP when this was mentioned.
Move along folks, nothing to see here.
http://otp.investis.com/clients/uk/bowleven1/rns/regulatory-story.aspx?cid=1058&newsid=493191
https://www.businessincameroon.com/agrobusiness/2305-4084-ferrostaal-signs-a-gas-supply-agreement-to-its-giant-fertilizer-plant-to-be-constructed-in-limbe-with-euroil-and-nhc
Also note:
https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/
https://www.investiraucameroun.com/economie/2509-15267-depuis-7-ans-ferrostaal-peine-a-materialiser-son-projet-d-usine-d-engrais-chimique-dans-le-sud-ouest-du-cameroun
(Business in Cameroon) - The Cameroonian ministry in charge of the economy (Minepat) informs that the German company Ferrostaal is struggling to materialize its chemical fertilizer plant project in southwestern Cameroon.
According to this Cameroonian public administration, Ferrostaal, specializing in the manufacture of chemical fertilizers, has been in negotiations for four years with Cameroon and other partners. However, “? the negotiations come up against the proposed gas price which makes the project unprofitable. The file is at the National Hydrocarbons Company, ?”reveals the Minepat.
And yet, from February 14 to 18, 2018, a delegation of German businessmen, led by Günter Nooke, Chancellor Angela Merkel's special representative for Africa, stayed in Cameroon to revive this project.
After being received by the Head of State, Paul Biya, on February 15, an audience was granted to the German envoy by the Minister in charge of the Economy at the time, Louis Paul Motaze. The German side then explained that Ferrostaal's discussions with SNH are stumbling over the cost of raw materials. Mr. Motaze had promised to study the matter. But since then, the project has stalled.
For the record, a commercial pre-agreement, relating to the supply of natural gas to the future chemical fertilizer production plant in Limbé, was signed in 2013, 7 years ago. It was between SNH, Ferrostaal and the company EurOil Limited.
The chemical fertilizer production project should require an investment of CFAF 1,250 billion, for an annual production of 600,000 tonnes of ammonia and 700,000 tonnes of urea, intended for the local market and for export. The infrastructure is expected to be supplied with gas to the tune of 70 million standard cubic feet per day.
Sylvain Andzongo
Well many are stillwaiting for the Friday rns that says vog is shutting up shop as they cannot get out of the deep hole they have dug themselves, and theres NO light at the end of any pipeline.
Whilr Foo is sunning himself on a beach somewhere with drinks in hand counting out his money.
Just reminiscing about those salad days of yesteryear when members looked forward to VOG Friday with relish, eager to read the latest blockbuster RNS that would propel us closer to untold riches.
Yet some would have us believe nothing has changed.
https://www.businessincameroon.com/economy/2309-10841-cameroon-15-local-companies-granted-the-cemac-preferential-tariff-regime
'... The beneficiaries include some big names of the local industry: Dangote Cement Cameroon, Guinness Cameroon, BVS (Boissons, vins et spiritueux), Scimpos, Socaver, Ok Food, etc.....'
Dangote, Guinness, Socaver, OK Foods are all GdC clients.
This was from SEY's recent RNS:
Sterling has actively transitioned the portfolio out of long cycle exploration assets requiring third party funding and
continues to actively search for near to mid-term value creation and transformative growth/monetisation options in
both Africa and the Middle East (although the Board would also consider options further afield for the right project).
A prudent, selective and persistent M&A led effort is directed towards shorter-cycle revenue generating projects
that will deliver in a sustained lower oil price landscape, in progressive jurisdictions.
They seemed to be emphasising an acquisition in Egypt?
Could be, Rift. But still think VOG is a strong contender. Did you see our West Med (siberia) asset has some attention (click on my name and pick up my posts from 20th August onward): '...Based on this Technical Report, the Company has commenced a formal process to divest the Western Medvezhye Field and is in discussions with buyers of the field. Whilst a prospective buyer is conducting due diligence, the Company expects an extended sales process due to the COVID-19 crisis and the volatility of crude prices.'
Also SEY have experience in Cameroon.
Too, YF is big holder of shares here.
And VOG is, to some extent, a distressed production asset with exploration potential.
So YF Finance (Kazak billionaires) upped their holding in 16p cash shell Sterling Energy today to 5% from 4%
Jupiter Energy (JPR.AX) have a development block in Onshore Kazakstan. Kroupeev owns 24% of Jupiter and about $30million in Jupiter debt (effectively controls the Kazak company
To me it looks like a Sterling Energy / Jupiter deal
Biggs. Sadly, I think Foo has already got away with it.
And 68 is likely to carry on here until the end of the year when, having miserably failed to achieve a SP of up to 13p, he will just stop posting rather than admit to a complete lack of credibility.
I must say I find his childish, yahboo, must have the last word rhetoric both laughable and pathetic in equal measures.
Get away with it..
Dudes , ...
"Some things never change and even now the same sad folk still hang around hoping for a miracle."
Happy to admit to being a fully paid up member of the sad brigade. Feel like I've spent the last few years on Brighton beach with the VOG directors. Ouch!
Sold out a long time ago after years of misery in the DOG. Some things never change and even now the same sad folk still hang around hoping for a miracle.
RF i really wouldn't bother engaging with the walter mitty types
only poster i have ever decided to filter in over 10 years after questioning some of his comments after the BLM campaign started got the standard racist reply "some of my best friends are Irish" black /asian etc
Think he was only invested in 2 stocks but seemed to sprout up on a few I am invested in spreading his "wisdom" Best avoid like the pub bore
Been here for years and mentally wrote off my 3k a while ago but did chuck in a couple of hundred last week and reduced my ave by60% Good luck
https://www.bnnbloomberg.ca/cameroon-seeking-to-build-3-billion-dam-to-export-electricity-1.1495803
https://en.wikipedia.org/wiki/Sanaga_River
https://en.wikipedia.org/wiki/Edéa
'....The Sanaga River basin “is an important source of life for Cameroon’s flora and fauna,” said Sakah Mathias, the managing director of Sanys Global Consulting, a Yaounde-based consultancy that does sustainability studies. “The construction of five dams along the river is a serious threat,” he said....'
Sic Cacaos and Chococam are GDC clients:
https://www.investiraucameroun.com/agriculture/1709-15217-en-depit-de-l-arrivee-d-un-nouvel-operateur-la-transformation-du-cacao-au-cameroun-chute-de-24-000-tonnes-en-2019-2020
https://www.investiraucameroun.com/agriculture/1509-15203-cacao-la-france-les-usa-sortent-de-la-liste-des-clients-du-cameroun-au-profit-de-la-coree-l-albanie
No objection here, RF68.
But with 3CB and crew?
Also US$1 = 555 CFAF
So 132 billion CFAF = $238m to Eneo (probably October)
$9m = 3.8% of total
Thus, we have a high chance of being paid soon, imo.
Current MCap = £8m
$9m / 1.3 = £6.9m
Thus £14.9m / 257m shares = share price of 5.8p (pretty close to Zac Mir's 6p target).
They are expecting money on 5th October:
'According to the Ecofin Agency, which quotes sources familiar with the matter, Eneo hopes to complete its syndicated loan of CFAF 100 billion by October 5. The preparation process for this transaction is continuing and bankers are awaiting the information note which should normally be available before September 20.'
Thus, I would expect our $9m to be resolved amicably that month - otherwise the Court awaits.
Mms say 5p coming
12:37 107,508 3.11
12:37 50,000 3.1
12:02 25,000 3
12:02 75,000 3
12:02 50,000 2.9
12:02 10,000 2.71
12:02 75,000 2.5
12:02 75,000 2.5
12:37 75,000 1.8
12:02 75,000 1.7
9 Depth
3.49 48,378 12:02
3.5 75,000 12:02
4.1 49,672 12:02
4.2 75,000 12:02
4.5 75,000 12:02
4.5 75,000 12:02
4.55 80,000 12:02
4.8 75,000 12:37
5 200,000 12:02
This article from yesterday was posted over the road at advfn, potentially good news for Eneo, yet whether any of this cash inflows go towards paying our invoices, remains to be seen.
https://www.businessincameroon.com/electricity/1509-10810-cameroon-eneo-posts-xaf521-bln-investment-needs-over-2020-2031
How Low Can We Go......................0