Member Info for happysparrow

I think it is this:
'Post-period: at the time of writing, one of our larger customers is commissioning additional power and thermal equipment which will increase consumption by approximately 0.56 MMscf/d once at full capacity. ' (RND 28/1/21)

https://allafrica.com/stories/202106250214.html

https://thenationonlineng.net/dangote-awarded-cameroons-second-highest-national-honour/

This article gives some idea of Dangote's strategy:
https://nairametrics.com/2020/03/11/diversification-may-no-longer-be-possible-in-few-years-dangote/

Maisy - Not totally unwarranted speculation.
This is in Nigeria: https://nairametrics.com/2020/03/12/dangote-to-commence-100000-barrels-of-oil-production/
So, he's put together an integrated business model in Nigeria - oil production, refinery, fertiliser plant, cement - and may well use the same model in Cameroon, including a power station, perhaps all at Limbe. However, Douala is the central industrial area of this region of Africa - and GDC with its pipelines and nearby gas fields is the monopoly supplier to this city - and the Dangote Group has many businesses that could also be located here (Cement Manufacturing, Sugar Refining, Salt & Seasonings, Infrastructure, Tomato Farming, Rice Farming, Automotive, Training Academy, Polysacks, Real Estate, Logistics, Maritime), all needing power - So it might well make sense to buy out GDC in its entirety. He has the money to do so if he wants.

https://www.gazducameroun.com/case-studies/dangote-thermal-case-study/

May be of interest to some (more on LSE VOG):
Dangote
https://www.energymixreport.com/dangote-looking-to-expand-into-oil-and-gas-in-cameroon/
Cui Bono?

'The chair of Dangote Group said his cement unit would accelerate production by two times its current rate in Cameroon, where it launched a 1.5 million-tonne cement-grinding facility more than six years ago, a move halting four decades of four decades of French monopoly in the sector.

It has set itself a target to export four million tonnes of clinkers by the end of next year....'

https://www.premiumtimesng.com/business/business-news/469770-dangote-to-diversify-into-oil-and-gas-in-cameroon.html
https://www.premiumtimesng.com/business/business-news/469770-dangote-to-diversify-into-oil-and-gas-in-cameroon.html

https://www.gazducameroun.com/our-clients/

Dangote to also double cement production in Cameroon:
https://www.energymixreport.com/dangote-looking-to-expand-into-oil-and-gas-in-cameroon/
Jun 24, 2021
Aliko Dangote, Africa’s richest person, said he plans to diversify his group’s investments in Cameroon, starting with energy.

“We have plans to expand our investment to other sectors beginning with oil and gas,” Dangote told reporters Wednesday after meeting Cameroonian President Paul Biya in the capital, Yaounde. He didn’t provide further details.

The Nigerian billionaire, founder of the multinational industrial conglomerate Dangote Group, also announced his company will double cement production in Cameroon. Dangote opened a 1.5 million-ton cement grinding facility in the central African nation in March 2015 that ended a 40-year French monopoly in the industry.



Source: BNN Bloomberg

https://www.investiraucameroun.com/economie/2406-16553-apres-le-ciment-le-nigerian-aliko-dangote-annonce-des-investissements-dans-le-petrole-et-le-gaz-au-cameroun
“ We are established in Cameroon a few years ago and we will continue our investments not only in the cement sector, but also in oil and gas and other fields. ...This meeting also gave me the opportunity to say thank you to the president, who showed us that he is on the side of investors. And this encourages us to invest more in Cameroon . Aliko Dangote added.'

Dangote is the richest man in Africa, worth $11 billion (he also supports The Gunners):
https://en.wikipedia.org/wiki/Aliko_Dangote
His conglomerate owns a refinery, fertilizer plant, and petrochemical operation:
https://en.wikipedia.org/wiki/Dangote_Group
https://dangote.com/our-business/oil-and-gas/

Limbe Cameroon needs both a refinery built and a fertiliser plant. Could Dangote be investing here? If so, it ties in heavily with the Etinde project.

https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/
--The reconstruction of Cameroon's Limbe refinery, which suffered from a fire in May 2019, was not expected until 2021. Four out of 13 units were completely destroyed and three partly damaged. Meanwhile, Cameroon officials talked to Russian oil companies during the Russia-Africa summit in Sochi about the potential participation of Russian companies in the rebuilding the refinery, according to reports. Cameroon's sole refinery is one of the few in the region to have undergone a successful upgrade program over the past two years. The refinery increased its capacity to 72,000 b/d from 45,000 b/d through the upgrade, which involved the construction of a vacuum distillation unit, a catalytic reformer and a power plant.
https://www.spglobal.com/platts/en/market-insights/latest-news/oil/020620-refinery-news-roundup-new-projects-approach-construction-in-angola-uganda

https://www.businessincameroon.com/agrobusiness/2305-4084-ferrostaal-signs-a-gas-supply-agreement-to-its-giant-fertilizer-plant-to-be-constructed-in-limbe-with-euroil-and-nhc
https://www.reuters.com/article/cameroon-china-investments-idUKLR48475320081127

Thanks, Forest. I think this might be important news.
'“ We are established in Cameroon a few years ago and we will continue our investments not only in the cement sector, but also in oil and gas and other fields. ...This meeting also gave me the opportunity to say thank you to the president, who showed us that he is on the side of investors. And this encourages us to invest more in Cameroon . Aliko Dangote added.'

Dangote is the richest man in Africa, worth $11 billion (he also supports The Gunners):
https://en.wikipedia.org/wiki/Aliko_Dangote
His conglomerate owns a refinery, fertilizer plant, and petrochemical operation:
https://en.wikipedia.org/wiki/Dangote_Group
https://dangote.com/our-business/oil-and-gas/

Limbe Cameroon needs both a refinery built and a fertiliser plant. Could Dangote be investing here? If so, it ties in heavily with the Etinde project.

https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/
--The reconstruction of Cameroon's Limbe refinery, which suffered from a fire in May 2019, was not expected until 2021. Four out of 13 units were completely destroyed and three partly damaged. Meanwhile, Cameroon officials talked to Russian oil companies during the Russia-Africa summit in Sochi about the potential participation of Russian companies in the rebuilding the refinery, according to reports. Cameroon's sole refinery is one of the few in the region to have undergone a successful upgrade program over the past two years. The refinery increased its capacity to 72,000 b/d from 45,000 b/d through the upgrade, which involved the construction of a vacuum distillation unit, a catalytic reformer and a power plant.
https://www.spglobal.com/platts/en/market-insights/latest-news/oil/020620-refinery-news-roundup-new-projects-approach-construction-in-angola-uganda

https://www.businessincameroon.com/agrobusiness/2305-4084-ferrostaal-signs-a-gas-supply-agreement-to-its-giant-fertilizer-plant-to-be-constructed-in-limbe-with-euroil-and-nhc
https://www.reuters.com/article/cameroon-china-investments-idUKLR48475320081127

My guess as to what is going on is that the price is being pushed down in the hope that the delays to connecting the gas will result in us running short of cash. I expect those that are pushing this down are already on the phone to PB offering to lend him money in a placing at around today's price. I hope that he has the good sense to roundly tell them to F. off.

Maybe waiting for the completion of 'Head and Shoulders' (72-75p) before MMs push it back up?

Lea - I guess the new management actually want to run the company rather than run it into the ground.

Yes, things have changed. NEW MANAGEMENT.
At 6 MMscf/d we are operating at about breakeven (G&A substantially cut). An Eneo contract would quickly double these gas sales.

Oh, and we are selling about 6 MMscf/d currently.

Lea:
From my post of 8th June:
'...this was from Q4 2020 update:
'La-108 Remediation work was completed mid November 2020 and during initial testing the well flowed at the 19 to 20 MMscf/d limit of the surface equipment, with a Flowing Well Head Pressure (FWHP) of 3,580 psig. The full potential of the well is highly likely to exceed the capacity of the plant, which is 20 MMscf/d.'
We have 3 more Logbaba wells producing gas....'

Don't know the cost of drilling Matanda, but they are shallow wells, onshore, accessible, so I'd guess $5-10m per well?

And then Foo was summarily booted out of the company.