Member Info for banjomick

Very positive news for the future growth in Cameroons electrical sector, not only trying to supply their own country but exporting to others!

Can't stop to argue with the regular XXXXXXXXX

Highlights:

Gross gas sales increased by 11% on Q2 to 356mmscf

Average gas production increased by 12% on Q2 to 3.72mmscf/d

4 additional thermal customers consumed gas during Q3 2018 and an additional customer was connected for industrial power just after quarter end

GDC signed GSA’s with 4 new customers for Industrial Power during the quarter

W/E 19 October 2018 average gross gas sales of 4.6mmscf/d

Focus on non-grid customer build out via three new business units

The Board is pleased to provide more details of its “Non-Grid” business which is focused on increasing gas sales and revenue via increased thermal sales, the roll out of its Industrial Power Unit and establishment and growth of the compressed natural gas (CNG) Unit with partners Naturelgaz of Turkey. The Company is also pleased to introduce its “Energy Well” concept which aims to provide power to people in Cameroon that have no access to grid power.

http://www.victoriaoilandgas.com/sites/default/files/181022%20Q3%2018%20Ops%20Update%20FINAL.pdf

a group meeting this morning? :--)

" will VOG need to raise more money soon" What a stupid question to ask, how would I know?

If you read (as you have) the "INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2018" then "Directors believe that they will be able to access additional financing in order to continue to meet obligations and develop operations for a period of at least twelve months from the date of approval of these unaudited interim condensed consolidated financial statements."
http://www.victoriaoilandgas.com/sites/default/files/180630%20VOG%20Interims%20Results%20to%2030%20June%202018_vFinal_0.pdf

Depending on how they raise any money (if required) and what they need it for would effect the SP positively or negatively.

…………………………..

Logbaba

The Logbaba exploitation license covers 20 km2 from the original 64 km2 exploration license. Negotiations have commenced to secure the remaining 44 km2 of the license of the Logbaba area.

Matanda

The PSC amendments necessary to complete the assignment of the Matanda PSC to VOG have been agreed with National Hydrocarbons Corporation, Cameroon (SNH). We have been informed that application has been made for the Presidential Decree and should be issued shortly.

http://www.victoriaoilandgas.com/investors/news/q3-2018-operations-update-and-non-grid-business-developments

From the SNH website:

Gas supply to Douala-based industries for energy production

The Logbaba Association, comprised of SNH and its partner Gaz du Cameroon, is producing the natural gas reserves of the eponymous field, located in the outskirts of Douala, the economic capital of Cameroon, to supply industries in the Bassa and Bonaberi areas with clean energy, cheaper than fuel oil or diesel.

38 of the most important industrial companies have converted their burners and now use natural gas as a source of energy. The gas distribution network is currently being extended to permit the connection of other industries. It now extends over some 50 km.

http://www.snh.cm/index.php/en/gas-up/gas-supply-to-douala-based-industries-for-production-of-energy

"The partnership will provide CNG infrastructure for customers in and around Douala, with the intention of rolling the concept out further in the longer term. GDC will supply natural gas, land space and support services to the CNG production facilities, whilst Naturelgaz will design, build and operate the CNG production, distribution and offloading facilities.

Negotiations on the commercial structure of this initiative are ongoing and expected to be concluded during Q4 2018"

http://www.victoriaoilandgas.com/investors/news/q3-2018-operations-update-and-non-grid-business-developments

Industrial Power is expected to yield substantial revenues over the next 10 years for GDC. GDC has completed negotiations with and issued GSA’s to 11 customers and signed GSA’s with 4 customers. We expect a further 7 customers to sign in the near term.

GDC is working with Altaaqa and other equipment suppliers to fast track 6 generators for customers who wish to have power online this year and the Board believes that these customers will initially consume over 1mmscf/d of gas at a price of $13 per MMBtu.

As customer roll out continues, the target is to have over 18 gas to power customers online by end of 2019, consuming over 4.5mmscf/d of gas with no seasonality, in addition to the thermal demand.

http://www.victoriaoilandgas.com/investors/news/q3-2018-operations-update-and-non-grid-business-developments

Naturelgaz has entered into an exclusive agreement to partner with Gaz du Cameroun S.A. (GDC). Gaz du Cameroun is a wholly-owned subsidiary of Victoria Oil & Gas Plc, the Cameroon based gas and condensate producer and distributor and listed on the AIM market of the London Stock Exchange under the ticker VOG.
The purpose of this long-term partnership will be to:

Design, build and operate compressed natural gas (“CNG”) infrastructure and solutions for customers who need mobile energy, initially in GDC’s home market of Cameroon with the intention of rolling this out into other African countries.

Market CNG products, including bulk CNG and gas-to-power to industry and businesses which require reliable off-grid / off-pipeline energy solutions, as well as Auto CNG for alternative mobility solutions.

Phase 1 agreed between the parties is a 2mmscf/d (21mscm/y) CNG plant and customer distribution project currently in design stage.

https://globalyatirim.com.tr/en/investments/industrial/compressed-naturel-gas

Highlights:

Gross gas sales increased by 11% on Q2 to 356mmscf

Average gas production increased by 12% on Q2 to 3.72mmscf/d

4 additional thermal customers consumed gas during Q3 2018 and an additional customer was connected for industrial power just after quarter end

GDC signed GSA’s with 4 new customers for Industrial Power during the quarter

W/E 19 October 2018 average gross gas sales of 4.6mmscf/d

Focus on non-grid customer build out via three new business units

The Board is pleased to provide more details of its “Non-Grid” business which is focused on increasing gas sales and revenue via increased thermal sales, the roll out of its Industrial Power Unit and establishment and growth of the compressed natural gas (CNG) Unit with partners Naturelgaz of Turkey. The Company is also pleased to introduce its “Energy Well” concept which aims to provide power to people in Cameroon that have no access to grid power.

http://www.victoriaoilandgas.com/sites/default/files/181022%20Q3%2018%20Ops%20Update%20FINAL.pdf

Highlights:

Gross gas sales increased by 11% on Q2 to 356mmscf

Average gas production increased by 12% on Q2 to 3.72mmscf/d

4 additional thermal customers consumed gas during Q3 2018 and an additional customer was connected for industrial power just after quarter end

GDC signed GSA’s with 4 new customers for Industrial Power during the quarter

W/E 19 October 2018 average gross gas sales of 4.6mmscf/d

Focus on non-grid customer build out via three new business units

The Board is pleased to provide more details of its “Non-Grid” business which is focused on increasing gas sales and revenue via increased thermal sales, the roll out of its Industrial Power Unit and establishment and growth of the compressed natural gas (CNG) Unit with partners Naturelgaz of Turkey. The Company is also pleased to introduce its “Energy Well” concept which aims to provide power to people in Cameroon that have no access to grid power.

http://www.victoriaoilandgas.com/sites/default/files/181022%20Q3%2018%20Ops%20Update%20FINAL.pdf

very touchy this morning?

MJ giving the usual suspects a run for their money!

"a paid pumper on board" is it time for your medicine? :-)

get a life!

"Importantly, in meetings earlier this week" therefore getting closer to resolving the issue one way or t'other!

Chairman's address:

Cambay is an important national asset of India and the Company fully intends to meet its undertakings to the Government of India and contribute to India's energy security. While the Company is confident, having taken external legal advice, that it has followed the correct legal process to ultimately facilitate the development of Cambay, we believe that a lengthy legal dispute is not desirable for any party. Accordingly, the Company is presently in discussions with GSPC and the Government of India to seek a commercial resolution.

Importantly, in meetings earlier this week, there is alignment between both GSPC and Oilex to avoid arbitration if possible.

Highlights:

Gross gas sales increased by 11% on Q2 to 356mmscf

Average gas production increased by 12% on Q2 to 3.72mmscf/d

4 additional thermal customers consumed gas during Q3 2018 and an additional customer was connected for industrial power just after quarter end

GDC signed GSA’s with 4 new customers for Industrial Power during the quarter

W/E 19 October 2018 average gross gas sales of 4.6mmscf/d

Focus on non-grid customer build out via three new business units

The Board is pleased to provide more details of its “Non-Grid” business which is focused on increasing gas sales and revenue via increased thermal sales, the roll out of its Industrial Power Unit and establishment and growth of the compressed natural gas (CNG) Unit with partners Naturelgaz of Turkey. The Company is also pleased to introduce its “Energy Well” concept which aims to provide power to people in Cameroon that have no access to grid power.

http://www.victoriaoilandgas.com/sites/default/files/181022%20Q3%2018%20Ops%20Update%20FINAL.pdf

"Marketing studies by GDC/Naturelgaz have concluded that five types of customers would use CNG in Cameroon; thermal, off-grid power generation, commercial trucking, public transportation, and domestic transportation. The studies indicate the near-term potential of the CNG market, within a 60 km radius of the Logbaba facilities, is 2mmscf/d thermal and 2mmscf/d industrial power. The pricing of CNG will be benchmarked against competing liquid fuels. To date, 20 customers have expressed interest in CNG within a 60 km radius of Douala."

"Negotiations on the commercial structure of this initiative are ongoing and expected to be concluded during Q4 2018."

http://www.victoriaoilandgas.com/investors/news/q3-2018-operations-update-and-non-grid-business-developments

Plenty of hot air from the wind-up merchants today!

lets get over 100 posts! And markettimer ect ect ect, just do your best!