Member Info for happysparrow

From RayFenn on advfn:
"RSM is indeed a concern - if it goes our way we will get a lot of fees returned; if it doesn't, then hopefully we can claw back money from CHL payments." Mr Sparrow If the firat arbitration goes VOGs way (as I expect) then it just means RSM have to pay 38% of the "over budget" costs for drilling well 107 and 108. As it was a well blow out issue I can't see how RSM can't pay these costs.
Ray - Please correct me if I've got this wrong: My understanding of the case was that RSM was claiming that we had overbilled for the 107/8 drills. I assumed they had paid, and now wanted money back; hence they sought arbitration. If we win, we do not return monies already paid by them, but reclaim our fees.
Your post suggests they haven't paid; hence we are seeking money from them through arbitration. Have I got this wrong?
As I understand it, the insurance claim is to do with the blow-out issue; not the RSM arbitration. However, the RSM arbitration may determine real well-costs; and this might have some bearing on what would be a fair insurance claim? Again, am I wrong here?

I'm sending in a dozen questions - largely strategic.
Their replies to me will be in confidence, so I can't express them here.
Good luck with this, all.

Last one from me for a while on this subject:
I have donated to this organisation (they are linked to Dr Tess Lawrie of Bird-group.org):
https://ebmcsquared.org/support-us

Worth reading the RNS right through - there is a lot more below Roy's quoted words.

RSM is indeed a concern - if it goes our way we will get a lot of fees returned; if it doesn't, then hopefully we can claw back money from CHL payments. My guess is that YF Finance had some indication that it would go well for us before they ploughed in their recent $7.5 million loan notes.

West Med, as expected, there are other parties showing an interest. Either the recent exclusive bidder ups their offer, or we try elsewhere (yes, possibly bluff, but the bidder can't be sure, and would be stupid to lose out on the prospect).

Matanda farmout progressing.

LA-108 performance of interest. Established reservoir and long-term flow rates may enable us to sell the entire GDC complex.
'Adding perforations could increase the well's productivity, reduce the overall water cut and of course allow us to access all of the well's connected gas volumes.'

https://reliefweb.int/report/cameroon/m-decins-sans-fronti-resdoctors-without-borders-msf-forced-withdraw-its-teams

Reminder: (post from 16th July):
'... we are also inviting questions from Shareholders in advance of the Meeting. A response to these questions will be issued before the Meeting and additional information about this process will be made available on our website. All questions should be sent directly to the Company by close of business on Friday 6 August 2021 either via email to compliance@victoriaoilandgas.com or by post to Victoria Oil & Gas Plc, Scott House, Suite 1, The Concourse, Waterloo Station, London, SE1 9LX and include your Shareholder registration number or registered Shareholder details and address.'

I'd recommend submitting questions. Last time I received very frank and informative replies which I found useful. Replies were sent individually back to those shareholders who asked the question. If you do not actively ask the question then you remained uninformed. That was the process last time so I do not expect it to be different (such as publishing the Q&A on the website)

Beware those who would hide the truth.
(Particularly as regards your health and wealth:
https://scivisionpub.com/pdfs/covid19-vaccine-associated-parkinsons-disease-a-prion-disease-signal-in-the-uk-yellow-card-adverse-event-database-1746.pdf
https://www.ukcolumn.org/community/wp-content/uploads/2021/07/Program_Online_Symposium_D4CE_July29-30-with-links.pdf )

Maybe, tomorrow?
Have emailed the company.
Hopefully an RNS will result.

https://www.imf.org/en/News/Articles/2021/07/29/pr21237-cameroon-imf-executive-board-approves-us-million-arrangements-under-ecf-eff

Well, I know I said I wasn't expecting the update to include much....
:)

https://www.reuters.com/article/cameroon-imf/imf-approves-689-5-mln-for-cameroon-to-help-with-covid-19-impact-idUSL8N2P59RF?rpc=401&
'The arrangement allows for the immediate disbursement of the equivalent of $177.2 million for budget support, the Fund said in a statement.'

I expect this to go into the Power Sector.

RNS 30/06/21
The Company will publish a comprehensive quarterly update to 30 June 2021 in July.

https://www.worldoil.com/news/2021/7/28/exxonmobil-tallies-another-significant-oil-discovery-offshore-guyana
“This discovery increases our confidence in the resource size and quality in the southeast area of the Stabroek Block and could form the basis for a future development as we continue to evaluate the best sequence of development opportunities within the block,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.'
'Drilling continues at both wells to test deeper targets'
'Yellowtail has been identified as the fourth development project in the Stabroek Block offshore Guyana with anticipated startup in 2025. Following necessary government approvals and a final investment decision, this project will develop the Yellowtail and Redtail fields, which are located about 19 miles (30 kilometers) southeast of the Liza developments, and potentially adjacent resources.'

Sapote1 is about 40km to the east of this?

https://phys.org/news/2021-07-presence-african-leopard-southwestern-cameroon.html

Rns 18/5/21
"The proppant squeeze operation is the final phase of achieving our targeted oil production level and generating optimum cash-flows from the Ashover Grit reservoir.

"Revenues, post-proppant squeeze, especially in this now strong oil price environment will have a dramatic effect on the cash generating capabilities of Union Jack going forward."

I make it about £4m pa gross to UJO.
Anyone know lifting costs, etc?
Any hedging in place?

Tomorrow it is, then.
Will get more attention on a Friday (190 mRNSs today!)

Update tomorrow? Or groundhog day?

Talking of which:
https://www.youtube.com/watch?v=wuOxG-rnj30
https://norberthaering.de/wp-content/uploads/2020/05/Scenarios-for-the-Future-ofTechnology-and-International-Development.pdf

Yes, afraid so. Clearly the current offer isn't up to scratch. Expect the offerer hopes to pick it up in a fire sale - hopefully others are doing due diligence and someone soon will pull the rug from under them.

REC, not expecting much. Hopefully scuffs added by new customers. Most of the really interesting stuff is 'corporate'. Perhaps progress on Matanda drill rig ordered.

Another similar:
https://www.energymixreport.com/cameroonian-industrial-firms-that-require-340mw-have-to-wait-until-2023-eneo/

Chris - I replied more fully on your LLOY board, particularly noting this article:
https://dailysceptic.org/2021/07/25/phe-data-shows-vaccine-effectiveness-reduced-to-17-in-over-50s/