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Has the Daily Mail article been removed as I've just had a quick look?
Why would VOG send gas to a refinery as the gas has already been refined?
The LSE idiots would be wetting themselves if VOG reported a possible new big customer but then Cameroon Gov. then blocked it for whatever reason!
If it's supplying gas for a power plant then VOG have more or less covered themselves until it's been signed off:
" “We continue to diversify our client base as we pursue material opportunities with other Independent Power Producers in the region that are recognizing the increasing demand for power in Douala. We remain confident about the long-term future of this business and are focused firmly on the development and expansion of our operations.”"
"GDC continues to work closely with ENEO and interested Independent Power Producers, with a view to further establishing itself as an integral part of the growth in demand and supply of electricity to the grid power network in Douala."
http://www.victoriaoilandgas.com/investors/news/pre-agm-trading-update
Yawn!
Translated via google:
Thanks to Cameroon’s gas network, 41 industrial companies now use natural gas as a source of energy
Thursday, June 27, 2019 16:31
(Invest in Cameroon) - The National Hydrocarbons Company (SNH), a public company whose mission is to negotiate and monitor oil and gas contracts in Cameroon, informs that as of 1 June 2019, 41 industrial companies are connected to the distribution network built by Gaz du Cameroun (GDC).
According to SNH, the 41 industrial companies connected to the GDC network have converted their burners and use natural gas as a source of energy. " The gas distribution network is being expanded to allow the connection of other industries. This network now extends over fifty kilometers ", welcomes the public company.
GDC, a subsidiary of Victoria Oil & Gas, is a partner of SNH in the Logbaba association. The association put into production the natural gas reserves of the eponymous field, located in the suburbs of the economic capital Douala, to supply industries in the Bassa and Bonabéri areas with clean energy and cheaper than oil or diesel.
The average gas production rate of the Logbaba field operated by GDC in early 2019 is 8.5 million standard cubic feet per day (mmscfd). This production is up 51% compared to the fourth quarter of 2018. The record level of 12.96 mmscfd was reached on January 18th.
In general, the quantities of domestic gas delivered on the market are estimated by the SNH at 8,058.61 tonnes between January 1 and April 30, 2019.
https://www.investiraucameroun.com/energie/2706-12878-grace-au-reseau-de-gaz-du-cameroun-41-societes-industrielles-utilisent-desormais-le-gaz-naturel-comme-source-d-energie
out in full force since my last post, you have to laugh!
back under that there stone! Short term traders would sell their own mother for a quick profit!
ignore the idiots!
The more 'households' that get connected the more stress is put on the grid and due to the state of the distribution network the more industries are likely to want their own dedicated and reliable power supply ie 'Retail Power'!
"In particular, the sales team focused on the power requirements of existing and new customers. GDC explored a number of financing solutions for the capital expenditure required for the gas fired generators (gensets).
With the completion of the recent fundraising and strengthening of the Company’s Balance Sheet, GDC is reviewing these financing options to progress the industrial power project further. During the year, 3 customers that were on or close to existing pipeline purchased their own generators and were consuming gas by the year end.
There are two further customers who have signed GSA’s for industrial power, one of which is expected to be online in Q4 2019."
http://www.victoriaoilandgas.com/investors/news/preliminary-results-year-ended-31-december-2018
Because you are a sad old man? :-)
Get back under that there stone!
VOG have updated their website to reflect todays news:
http://www.victoriaoilandgas.com/investors/share-information
4 Jun 2019
Victoria Oil & Gas Plc is pleased to announce that its wholly owned subsidiary, Gaz du Cameroun S.A. (“GDC”), has signed a settlement agreement with Weatherfords Services and Rental Ltd and a full and final payment of $1.4 million has been made to extinguish the outstanding debt. In accordance with the settlement, the parties have signed and filed with the relevant court consent orders for the statutory demand to be set aside, which is now only a matter of process at court.
With this settlement GDC has now settled all outstanding obligations relating to the drilling programme of La-107 and La-108 at Logbaba.
http://www.victoriaoilandgas.com/investors/news/creditor-settlement-agreement
Daft bugger! :-)
been put back in their cages, an hour of peace! :-)
Has the potential to be a very exciting year for VOG especially from this current SP!
http://www.victoriaoilandgas.com/sites/default/files/181231%20VOG_AR%26A_0.pdf
28 May 2019
Victoria Oil & Gas Plc
Annual Report & Accounts to 31 December 2018
Victoria Oil & Gas Plc announces that the following documents are now available on its website at www.victoriaoilandgas.com:
· Annual Report & Accounts for the year ended 31 December 2018; and
· Notice of Annual General Meeting to be held on Thursday 27 June 2019 at Kerman & Co LLP, 200 Strand, London, WC2R 1DJ at 3.00 p.m.
The above-mentioned documents will be posted to those shareholders that have requested printed copies on 3 June 2019. Shareholders who have not opted for electronic communications will receive a personalised Proxy Form for the Annual General Meeting to complete and return to our Registrars by 25 June 2019. The Company's shareholders can elect to receive notification by email of the publication of future communications from the Company by registering on www.investorcentre.co.uk.
Last week on the PDL thread you stated:
"I have had to extracate myself from 10 years in the nightmare that is VOG."
http://www.lse.co.uk/member-info.asp?nick=bigsmoke&page=4
I assume you mean 'extricate' as in you are no longer a shareholder of VOG, sold at an all time low just before the rise! :-)
http://www.victoriaoilandgas.com/investors/news/preliminary-results-year-ended-31-december-2018
I've been really busy today so only just read todays RNS and WOW!
Firstly I still believe Kevin Foo needs some recognition for keeping the company afloat but whether it was his bad management in the first place and subsequent decisions in regard to share holder value, is possibly open to question!
The new VOG appear to be more focused on share holder value, drawing a line in the sand, giving lets say a more honest communication of news now and in the future!
Very exciting times ahead and just ignore the short term traders like bigsmoke, jedclam, naks and the rest who sold at the low!
There you go! another idiot :--)
I've been really busy today so only just read todays RNS and WOW!
Firstly I still believe Kevin Foo needs some recognition for keeping the company afloat but whether it was his bad management in the first place and subsequent decisions in regard to share holder value, is possibly open to question!
The new VOG appear to be more focused on share holder value, drawing a line in the sand, giving lets say a more honest communication of news now and in the future!
Very exciting times ahead and just ignore the short term traders like bigsmoke, jedclam, naks and the rest who sold at the low!