Member Info for happysparrow

a) West Med sale? (June)
b) Kemerkol refund? (June/July)
c) 0.95 mmscf/d addition from existing customer base (June/July)
d) Eneo generating subsidiary set up - possible supply deal for VOG? (June/September?)
e) Matanda drill plans (July/August)
f) Matanda farm-out July/September
g) RSM arbitration findings on first case (August/September?)
h) Matanda drill and results (Q4 2021)
i) second RSM arbitration hearing (Q4 2021) - or perhaps withdrawn?
j) AKSA, and Etinde FID, (Q1 2022 ?)

Thanks, PB, but not entirely intuitive. I'd made enquiries with the company (well worth doing with VOG) and they implied my questions were best and most fairly answered by an RNS. So imo it was only a matter of time before an update came, and my guess was that the market would want that update this week. No update by Thursday, therefore it was likely to be today.

Eneo - 'In addition to the funds received, GDC gains valuable tax credits which will be used to enhance cashflow.'
This is something I had not considered. Perhaps adds one million+ dollars to the value? Anyone have a more precise knowledge?

Kemerkol - ' Further to the Company's April 1 update, the Parties in the Kemerkol dispute continue the exchange of information and settlement discussions.'
This is encouraging. If VOG had met a complete blank wall in these discussions then already we would have moved on to a legal action to reclaim monies. That we are still talking means that there is recognition by the Kazacks that there is something to discuss, a valid claim no less.

£CB - But it is not our only interested party, is it? Hence the need for exclusivity.

West Med - 'The potential buyer of SGI remains keen but we are carefully considering the next steps to avoid simply entering an open-ended phase.'
Understandable. We want closure and cash. We do not want to rely on the capabilities of others, no matter how exciting the prospects. This is likely to be resolved one way or the other this month. Or, now there is no exclusivity, another party might jump in with a cash offer.

I expect/hope the silence is because we are at the bartering/gazumping/signature stage of negotiations on West Med. kemerkol would be nice but not expecting much. Eneo $5m should have been RNS'd earlier if there was a problem. My guess is there will be an RNS 7am tomorrow, hopefully explaining all.

https://www.energyvoice.com/oilandgas/africa/ep-africa/327682/savannah-exxon-doba-pipeline/
https://www.energyvoice.com/oilandgas/africa/227327/petronas-joins-exxon-in-seeking-exit-from-chad-project/

of interest?
https://www.businessincameroon.com/finance/0403-11346-chad-cameroon-pipeline-chad-initiated-no-negotiations-for-the-sales-of-its-21-stake-sht-s-boss-says

So now which way will the NIger oil go?
Via Benin, or via Cameroon?

?

Yep, there'll be mere provinces.

Good post, Maisy. But I would not write off Kemerkol. Don't forget YF Finance own 27% of VOG, and YF Finance is a highly influential Kazakh-owned outfit.

3CB - Yes, my post was somewhat hopeful - naive, even.
However, from recent events, you can see how world governments intend to 'Save the Planet', and it won't be voluntary.

https://advances.sciencemag.org/content/3/1/e1600946

With oil & gas drilling the problem is largely the roads constructed to get in and out - then the people come. If such access is minimised, with no settlement allowed, and the roads reduced/taken-out once the heavy equipment has moved off, all the better for wildlife. There is perhaps a net benefit if the gas used results in less firewood being cut from the forest, and the O&G company has positive influence over its customers - such as Palm Oil producers! - to conserve their lands and adjoining forests responsibly. Shareholders should call for, and expect, such responsible action from their O&G company wherever they operate - forest, sea or desert.

https://limbewildlife.org/about/
'Cameroon is home to some of the most diverse plant and animal species in the world. In fact, it is said that Cameroon is “Africa in miniature” due to the diversity of its environments and cultures. This includes rain forests, beaches, mountains, deserts, and savannas and 240 different languages.

Significantly, the area (Cross-Sanaga Faunal Region) in which the LWC is located, is home to one-third of Africa’s primate species. For example, this includes two of the most endangered great ape subspecies: the Nigeria-Cameroon chimpanzee and the Cross River Gorilla. Sadly however, this region is also one of the most threatened forest systems in the world. Nowadays, only a small amount of the original forest remains. In short, this is as a result of human population increase, commercial logging, slash and burn agriculture, palm oil plantations, mining, and exploitation for minerals.

Read more about the causes of decline for wildlife in Cameroon and what you can do to help protect wildlife....'

https://limbewildlife.org/helpus/

Definitely a place to visit. (Let's hope this NWO Covid vaccine passport idiocy ends soon.)
https://www.wanderlust.co.uk/content/the-best-things-to-do-in-cameroon/

Thanks to Zengas on LSE SAVE:
19/5/21
Lagos — Nigerian oil minister Timipre Sylva confirmed on May 19 that the government is in talks with Shell over sale of the company's stakes in Nigeria's onshore oil assets.
Sylva said options put forward by Nigeria in its talks with Shell include handing over Shell's stakes in the assets to the Nigerian Petroleum Development Co., the upstream arm of state oil firm Nigerian National Petroleum Co., or NNPC, inviting bids from Nigerian indigenous producers, or having a mixture of local firms and foreign independent producers to bid for the assets.
https://www.spglobal.com/platts/en/market-insights/podcasts/crude/051721-iran-us-sanctions-opec-oil-market-geopolitics

https://www.investiraucameroun.com/gestion-publique/1705-16378-le-nouveau-programme-avec-fmi-pourrait-generer-plus-de-375-milliards-fcfa-au-cameroun-et-rassurer-les-investisseurs

The government is working hard to achieve, in June 2021, approval of its new economic and financial program with the International Monetary Fund (IMF). Started on May 5, 2021, negotiations between the two partners, scheduled to end on May 21, should lead to an economic and financial program extending over the period 2021-2024. This new three-year program should be accompanied by a global disbursement of an envelope of more than CFAF 375 billion, in favor of the Cameroonian public treasury, according to a revelation made by the newspaper Défis Actuels .

But, in addition to this financial infusion in gestation, the conclusion of a new economic and financial program between the State of Cameroon and the IMF will be a good signal for the investors, in particular those interested in the refinancing of the Eurobond of 450. billion FCFA, which the Cameroonian government is preparing to make on the international capital market.

“? The two projects also have implications for each other. An agreement with the IMF influences the operation of Eurobonds. Because investors are more reassured when the country is under program. On the other hand, the Eurobond refinancing operation has an influence on the program with the IMF, because it changes the profile of the country's debt level, and therefore (offers) new debt capacities… ?”, underlines a source to the Technical Committee for the Monitoring of Economic Programs (CTS) cited by Défis Actuels .

According to the chronogram of the negotiations revealed by the General Directorate of Customs (DGD) of the Ministry of Finance, "? the restitution of the work will be done in two stages: with the ministers in charge of Finance and the Economy, on Wednesday, May 19, 2021, and with the Prime Minister, May 21, 2021? ”.

As a reminder, the last three-year economic and financial program (2017-2020) between Cameroon and the IMF, initially scheduled to end on June 25, 2020, had been extended to September 30, 2020, at the country's request, due to consequences of the Covid-19 pandemic on public finances.

Brice R. Mbodiam