SNH supplies clean and cheap energy to
41 companies using GDC’s distribution
Société nationale des hydrocarbures
(SNH), Cameroon’s company that
negotiates oil and gas contracts,
informs that on June 1, 2019, 41
companies were connected to the
distribution network built by Gaz du
According to the SNH, those companies are now using natural gas as
The state-owned company indicates
that the network, which now spans
over fifty kilometers, is being extended to allow the connection of more
GDC, subsidiary of Victoria Oil &
Gas, is SNH’s partner in the Logbaba
association, which launched the production of natural gas at the Logbaba
gas field in Douala.
This production helps supply clean
energy, which is cheaper than fuel
and gasoline, to companies located
in Bassa and Bonabéri.
The average daily production of
Logbaba plant exploited by GDC
at the start of 2019 was 8.5 million
standard cubic feet. This represents a
51% quarter to quarter increase. This
year, the record level of 12.96 million
standard cubic feet was reached on
January 18, 2019.
The SNH estimates that the quantity of domestic gas supplied in the
market between January 1 and April 30, 2019, is 8,058.61 tons.
( Page 46 )
https://www.businessincameroon.com/energy/1107-9319-cameroon-eneo-plans-targeted-cut-of-energy-provision-to-public-institutions-because-of-close-to-xaf100-billion-debt ( page 48 )
Sammy Hegab Retweeted
5 minutes ago
Alrosa signs JV agreement with Zimbabwean miner https://m.miningweekly.com/article/alrosa-signs-jv-agreement-with-zimbabwean-miner-2019-07-16#.XS3le_WyPac.twitter …
2 hours ago
#VAST Extremely Cheap considering what is lined up for 2019 ...
#Baita Plai Recommisssioning by year end
#SRK Report (Independant Company Valuation)
#Financing for Diamonds and Baita Plai
#Blueberry and Zagra Projects Update
#New Plant Carlibaba
MIRRIAD ADVERTISING (MIRI) shares were up 200% after the news it signed a contract with Tencent, one of the biggest firms in China.
Victoria Oil and Gas Plc, is pleased to announce that, at the AGM of the Company held this afternoon, all of the resolutions that were proposed in the Notice of Annual General Meeting which was sent to shareholders, dated 24 May 2019, were duly passed.
Pre-AGM Trading Update
Thu, 27th Jun 2019 13:10
RNS Number : 6871D
Victoria Oil & Gas PLC
27 June 2019
27 June 2019
Victoria Oil & Gas Plc
("VOG" or "the Company" or "the Group")
Pre-AGM Trading Update
Victoria Oil & Gas Plc, whose wholly-owned subsidiary, Gaz du Cameroun S.A. ("GDC"), the fully integrated onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, is pleased to provide an update on the Group's operations prior to today's Annual General Meeting. This update covers the period from 1 April to 25 June 2019 inclusive ("Q2 19" or "the Quarter").
Â· Q2 19 average gas production rate during the period of 9.72 mmscfd (Q1 19: 10.10 mmscfd)
Â· Q2 19 ENEO Cameroun S.A ("ENEO") gas consumption consistently over 5.1 mmscfd
Â· Q2 19 gross gas sales of 838 mmscf (Q1 19: 903mmscf)
Â· ENEO payment of January 2019 invoice received by GDC
Â· GDC and ENEO finalising a fully termed agreement and payment guarantee to supplement the existing binding term sheet
Ahmet Dik, Chief Executive Officer of VOG commented:
"The Company has continued to perform well over the past Quarter, delivering consistent production figures following the resumption of the ENEO contract whilst reducing operating costs. We have been pleased to receive the January payment from ENEO.
"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."
Sammy Hegab Retweeted
45 minutes ago
Company Presentation: Andrew Prelea @andrew_prelea- CEO- Vast Resources. The #company is performing above expectations with their #Zimbabwe mining projects & will soon be movin into #Diamond Exploitation. @MinistryMinesZW @InfoMinZW Vast Resources is listed on the @LSEplc
Zimbabwe is a new place where there is rich mineral opportunity, legislation has been reduced and beneficial ownership rules largely removed say panel @AAMConference19 including CEO #VastResources ZIDA, Miniser of Mines and Ambassador.
$Mod Eating the elephant... in one bite
Rating and Target Price Changes
Sandfire to Acquire Mod Resources
Sandfire beat a handful of rivals
It is understood Sandfire beat a handful of rivals to secure MOD, believed to include Greenstone, Appian and a few North American copper players.
The question is whether another party could bid over the top, given global interest in owners of copper assets of scale.
It's not the first time Sandfire has had a crack at MOD Resources. The Karl Simich-led company approached MOD's board in January with a takeover offer valuing the exploration junior well north of its $55 million market capitalisation.
MOD knocked back that offer on the basis that it undervalued the company and its strategic Botswana prospects.
ASX the securities will remain in TH until the earlier commencement of trading of normal trading on Thursday 27 or when ANN made
Sandfire Resources poised to acquire MOD Resources
Billion-dollar copper hopeful Sandfire Resources is set to announce a $166 million agreed scrip-and-cash takeover of MOD Resources.
Citigroup-advised Sandfire will pay 45¢ a share, sources told this column.
MOD Resources last traded at 31¢ a share giving the copper junior a market value of $94 million.
A deal is expected to be announced on Tuesday morning.
Cameroon cleared off XAF700 bln in debt in 2018