Member Info for bigsmoke

are we expecting the Q4 numbers? 2nd jan?

like a 10% rise today.
better than a poke in the eye with a sharp stick, or a stuck gun down apparently your best producing well.

"...guess what I am going to do."

nothing?

buys all afternoon, but SP tapering down. strange.
still, big end to the year tomorrow.

get a push this afternoon, i still think 36-38p by close of play Friday.

shota - i get the sense that many are in for a day and then chasing the next news - hardy oil or something.
the VOG Shareholders Group has a good lot of long termers (as well as newbies) who know the risk/reward and will be sensing trading points ahead.

not heard that mentioned for a while PB. thing is, i have no stomach for another drill campaign. i prefer the risk go on JV partners who want to use our resource ... wait, and that's the exact strategy we are doing now!

the BLVN pump is now a dump. loosing ground.,

don't know where people are fleeing too, but at 27p - good returns to be had here, IMHO.

has a different form of deramper. not just the sell, deramp and buy back: we also have the don't hold any shares and deramp for the sake of it.

think the SP is in no mans land. trying to find a direction. however it will only go one of two ways. and being sooo undervalued and just landed a three year deal, i sense which way it is going.

IF we broke 30.1p then you would not get sub 27p.
too many quick buckers this morning for 30p to break. could do so this afternoon, or tomorrow.
typical for a retrace then consolidate and rise. happened on 24th.

are you saying the outgoing capacity is 6.1?

Altaaq might not be supplying additional tech to extend the power station as previously planned?

without wanting to correct you, there was talk about extensions to the Logbaba and Bassa power stations.

sorry chief. must be the sugar from Christmas.

"ENEO has expressed their intention" .. to increase power generation levels to include an additional 20MW from its Bassa Power Station in due course and they, and other IPP’s, are evaluating additional power supply options to meet the electricity shortfalls that the city of Douala continues to experience.

This should NOT be overlooked. ENEO are knocking re Bassa, not the otherway around. Also, they appearw to be discussing something in addition to Bassa. Looks promising.

Despite micro geo-political situ, remember a SECOND bridge has been built across the Wouri and the river is being dredged and ghost ships being taken away for scrap. The business capacity of the city looks set for major growth. And guess who has the energy infrastrucure laid in this industrial hub? yip, us!

"Simultaneously" ENEO has entered into an agreement with Altaaqa Alternative Solutions Projects DWC-LLC.

That takes any hardware responsability off VOG partnership hands. Also, if ENEO has purchased the Gensets (rather than rent) then that must bode very well for long term viability of VOG in Douala.

"minimum" gas supply of 4.88mmscf/d.
remember - during the DRY season (which WILL still be happening - and happening NOW) demand was higher than the take or pay element. sometimes 40-odd %. So 6.1 could turn out to be 8 scuffs during Q1...

Terms of the Agreement

Under the revised terms, gas will be supplied to ENEO’s 30MW Logbaba Power Station. The peak quantity requirement equates to 6.1mmscf/d gas consumption from GDC. The initial gas sale price of $6.75 per MMBtu will increase over the three-year term of the agreement by $0.10/MMBtu on each anniversary of the effective date of the agreement. The original contract with ENEO contained a seasonal minimum take or pay element of 90% during the January to June dry season and 30% during the wet season July to December. The take or pay element of the contract has been amended to a minimum base load level of 80% throughout the entire year, which equates to a minimum gas supply of 4.88mmscf/d. The average daily consumption of gas for GDC during 2018, prior to recommencing supply to ENEO was approximately 4mmscf/d, so the Logbaba production more than doubles current daily average production to more than 8.8mmscf/d.

The parties are committed to executing Fully Termed Agreements and providing appropriate payment guarantees by 31 January 2019.

ENEO has expressed their intention to increase power generation levels to include an additional 20MW from its Bassa Power Station in due course and they, and other IPP’s, are evaluating additional power supply options to meet the electricity shortfalls that the city of Douala continues to experience.

Victoria Oil & Gas Plc, the Cameroon based gas and condensate producer and distributor, is pleased to announce that its wholly owned subsidiary Gaz du Cameroun S.A (“GDC”) has signed a binding term sheet with grid power provider, Eneo Cameroon S.A. (“ENEO”), to resume gas supply to the Logbaba 30MW Power Station.

Highlights:

Gas supply and power distribution commenced 22 December 2018
3-year contract term
Peak quantity delivery of 6.1mmscf/d to be made available to the ENEO site
Minimum base load 80% (4.9mmscf/d) of peak quantity “Take or Pay” throughout the year
This contract will increase current daily average consumption by more than 100% to approximately 8.8mmscf/d
Gas price range from $6.75 to $6.95 per MMBtu over contract term

The Board is pleased to confirm that a binding term sheet was signed on 21 December 2018 between GDC and ENEO for the resumption of gas sales. Simultaneously, ENEO has entered into an agreement with Altaaqa Alternative Solutions Projects DWC-LLC (“Altaaqa”) for the provision of their gas-powered generation units (“Gensets”). Gas export and power generation began on 22 December and build-up to the full 30MW supply is progressing well.