Member Info for banjomick

lol

"personally having lost �144,000 to be exact" Firstly you are obviously very rich or very stupid to invest that much in an AIM company never mind one in Africa at still an early stage in their growth! So you have sold and are now very bitter- lesson, never get emotionally involved in a share and always invest what you can afford to lose! Looneylooser, very apt name :-)

you are an idiot

I believe Kribi and ENEO came to an agreement as it was too much power to lose in one go! Cameroon doesn't want to put off manufacturing industries or the like making a base in their country so they want and need to offer a stable power supply whether from the grid (assisted by VOG's Logbaba and Bassa plants) or/and as VOG can also offer Retail power feeds for a companies own gen sets.

Vulnerability risks of the financial sector in the CEMAC zone have eased, according to the Central Bank Friday, May 25, 2018 (Invest in Cameroon) - In an official communiqu� sanctioning a meeting of the Financial Stability Committee in Central Africa, held on May 17, 2018 in the Cameroonian capital, the Governor of the Bank of Central African States, who is also president of the Committee, announces that " the risks of vulnerability of the sub-regional financial sector have been reduced, despite a business environment still unattractive ". Abbas Mahamat Tolli (photo), who also reveals that the bank credit portfolio has deteriorated somewhat in the Cemac zone in 2017, argues that " this situation should however improve, given the encouraging economic prospects of the region. year 2018 ". In fact, the Beac Monetary Policy Committee forecasts an increase in economic growth in the Cemac zone in 2018, to 2.1%, compared to -0.1% in 2017. This projection, argues the Beac, is based on " the good performance of the oil and non-oil sectors, as well as the consolidation of macroeconomic balances ". https://www.investiraucameroun.com/gestion-publique/2505-10830-les-risques-de-vulnerabilite-du-secteur-financier-dans-la-zone-cemac-se-sont-attenues-selon-la-banque-centrale

Remember it wasn't just VOG/GDC two power plants that were affected, Kribi gas power plant was reduced by 100 MW too! Consequently, ENEO was deprived of the energy necessary to supply its clients in the southern interconnected system.

Article was from today, Friday, May 25, 2018 and not yesterday! :-)

Translated via google In the first quarter of 2018, gas sales by local producer Victoria Oil and Gas fell sharply Thursday, May 24, 2018 (Invest in Cameroon) - In a financial update of its activities in Cameroon, published on Thursday, British junior Victoria Oil and Gas announced that its gas sales fell in the first quarter due to the suspension of the supply of power stations. Eneo Thermal, the country's leading electricity supplier. The raw gas sold in the first three months of the year was 330 million cubic feet, down 54% from the fourth quarter of 2017 and 71% from the first quarter of 2017. At the same time , average daily gas production was 3.5 million cubic feet per day compared to 7.94 million cubic feet in the fourth quarter of 2017 and 14 million cubic feet in the first quarter of the same year. As for income, they have considerably faded. The document indicates that net revenues were $ 2.5 million, compared with $ 4.4 million in the last quarter of 2017 and $ 8.1 million in the first quarter of 2017. The financial situation of the company could worsen if Eneo does not restart its off-takes of gas before July 1. In the event that Eneo gets back on track before that date, production targets for the end of the year will be 11.3 million cubic feet per day. Otherwise, they will be 8 million cubic feet per day. In order to diversify its customer base, the company plans to produce compressed natural gas in the country before the end of the year and to connect with other electricity producers using natural gas. https://www.investiraucameroun.com/communication/2505-10827-au-premier-trimestre-de-2018-les-ventes-de-gaz-du-producteur-local-victoria-oil-and-gas-ont-fortement-chute

Sorry Malbrun, wasn't getting at you but just highlighting how many companies SNH have a share in.

Malbrun, if you take a look at page19 of SNH's 2016 Annual Report you will notice that they have a share in all or at least most oil and gas companies in Cameroon! My cynical head would say their small stake might have something to do with the ENEO non payment! Concessions and Exclusive Exploitation Authorizations http://www.snh.cm/images/publications/Rapports%20annuels/SNH%20Annual%20report%202016-EN.pdf _______________________________________________________________________________________ "A couple of points. The Cameroon government exercised their right to 5% of the project. Not the company. I don't believe that a payment will be forthcoming, it's their right under the licensing agreement."

markettimer, to be fair VOG have had a lot of expenditure eg building the 50+km gas distribution system, the purchase of the Logbaba gas processing plant in 2015 and the need to drill two new wells!

"banjomick do you work for VOG?" lol, of course not! Just to clarify (again ) the usernames I post on these BB's LSE- banjomick III- Totally Wired ADVFN- was 'totally banjo' but stopped posting years ago, under any name, due to the clem and Tom Winnifrith partnership!

The Company commissioned a pre-feasibility study on CNG for plant capacity up to 2mmscf/d. The sales team in Douala is in discussions with potential customers that would make this venture commercially viable and aims to sign General Sales Agreements in the near term. The project will afford GDC the opportunity to reach some larger customers beyond the pipeline infrastructure and aims to replace diesel and heavy fuel in a variety of applications. VOG has set an ambitious business strategy with gas sales build up to 100mmsc/d by 2021. We still believe that this target is achievable and that the demand for gas within Cameroon remains high.

I doubt any forward looking statement will add anything to what VOG have already put out but it's there to keep shareholders informed good or bad.

The Preliminary Results for the year ended 31 December 2017 are due by the end of this month and they will include a forward looking statement.

wants to produce compressed natural gas in Cameroon before the end of the year (Invest in Cameroon) - In Cameroon, the British junior Victoria Oil and Gas (VOG) is planning to develop a unit of production of compressed natural gas (CNG) before the end of the year, reports Natural Gas World . The information was given in London on May 3 by Kevin Foo (pictured), the company's executive chairman, at the Africa E & P Summit conference. "We are going to work very hard to have a CNG pilot project by the end of 2018." , he said, before adding that this project is intended to meet the demand of a truck and other fleet market. who wish to do without diesel. He went on to explain that the projected capacity of the project is 2 million cubic feet of CNG per day. Mr. Foo pointed out that there is a cumulative gas demand of around 200 million cubic feet per day within 200 to 300 km of VOG's operations, which is reason enough to introduce CNG into the market. . Natural gas is compressed at 200 or 250 bar. One liter of diesel equals five liters of CNG. Above translated via google https://www.investiraucameroun.com/commodities/2405-10822-victoria-oil-gas-veut-produire-du-gaz-naturel-comprime-au-cameroun-avant-la-fin-de-l-annee

Have you got the names and addresses along with proof of shares held? Or are you taking posts on a share BB as fact? lol

the idiots out today! amazing!

The RNS was much as expected but there were a few positives non the less: "In our update on 5 January 2018, we reported gross ENEO receivables of $8.7 million, which had been reduced to $5 million at 17 February 2018. We are pleased to report that at the time of this announcement this gross receivable has reduced to $2.9 million. The Company expects the balance to be paid off by the end of Q2 18/early Q3 18." "A Nestle subsidiary, Camlait Cameroon, and Agrocam are in the process of commissioning their new gas-fired gensets, which are expected to be on-line during Q2 18." "Following the drilling and completion activities, work to tie in the wells for permanent production has been ongoing. Construction of the La-107 flowline tie-in is now complete. La-107 and La-105 are now both available for production, as required, to meet market demand." "The Company commissioned a pre-feasibility study on CNG for plant capacity up to 2mmscf/d. The sales team in Douala is in discussions with potential customers that would make this venture commercially viable and aims to sign General Sales Agreements in the near term."

cindercone, funny that as you said you had sold up last year after being a holder for 7 or 8 years!