Member Info for happysparrow

NR11 - I missed call today (hopefully will be put up on website?) but regards 'Deep Sea Port' I wrote a brief note on 300MW power ship possibly coming to the port of Douala soon. Highly significant for VOG and BLVN. If anyone followed those posts (click on my name or LSE VOG) they will have seen on the Bloomberg article that the intention was for powerships for Cameroon and one other new West African country this year - could this be your Deep Sea Port?
https://www.bloomberg.com/news/articles/2021-01-28/mobile-power-ships-eye-africa-as-virus-stalls-land-projects.
Fits well geographically with their other projects?
http://www.karpowership.com/en/global-presence

Thanks, Forest.
Of note is the imports from Turkey.
Turkey is becoming a key partner economically.
An example of the diplomatic effort: https://www.aa.com.tr/en/africa/cameroon-turkey-offers-condolences-for-deadly-accident/2126654
Both Aksa and Karpowership are Turkish. This reinforces my belief that a Turkish power deal for Douala will be signed off in the next 6 months.
Both power projects are of a size that they should take all of the gas supplied by both VOG and BLVN (Etinde project). As a poster recently wrote on the Advfn Blvn board, it may come as no surprise if Lukoil then bought them both out.

Apologies for off-topic, but I thought this might interest one or two of you:
An offer of a 300MW powership has just rocked up for the port of Douala, Cameroon.
See my posts on LSE VOG (easiest to click on my name to follow).

At the time, little did you know they might pay for your whole cruise!

Looking at Map on VOG site:
https://www.victoriaoilandgas.com/our-projects/gdc-operations/
You'll see the port at the bottom left.
Looks like we need to build the 'potential future pipeline' to the port area - if the map is up-to-date. An extension of the southern pipeline. Not far.
https://mapcarta.com/30858312

https://www.energymixreport.com/turkish-firm-karpowership-proposes-low-cost-electricity-to-cameroons-govt/
Zeynep Harezi said, “Our aim is to deliver low-cost electricity in a very fast track manner, to create jobs in Cameroon and to make sure that we can use Cameroon gas to give power to Cameroonian people.” Concerning their offer to the Prime Minister, she said, “Today, what we have offered to the Prime Minister is 300 megawatts to be developed in less than one month. It will be packaged in Douala and to provide electricity immediately for less than FCFA 40 for a kilowatt as long as they will like us to.”

NB 'to make sure that we can use Cameroon gas...'

https://www.bloomberg.com/news/articles/2021-01-28/mobile-power-ships-eye-africa-as-virus-stalls-land-projects

Thanks, 3CB.
I'm amazed not much reaction elsewhere on other boards (nothing from RF yet) - I'd expected the SP to double on this news overnight. An opportunity to supply 18% of Cameroon's current capacity, little infrastructure needed, monopoly supplier for Douala, cheapest source of fuel, project can be set up in 3 to 6 months, presented to the President, Roy stating today 'The company is also in discussions with new customers in the Douala area for further thermal and power projects representing significant energy demand requirements.' Am I the only one who thinks this remarkable?

Obviously there will be no confirmation until a deal is signed. But 2 + 2 seems to = 4 here.
Will have to dig behind the sofa to see what I can add tomorrow.

Also worth checking out Zeynep Harezi - a right cracker!

Worth watching this video:
http://www.karpowership.com/en/lng-to-power

Clearly we don't need a floating storage and regasification unit if we can pump natural gas directly into the moored ship.
Thus VOG must have the most competitive-priced solution?

Worth watching this video:
http://www.karpowership.com/en/lng-to-power

Clearly we don't need a floating storage and regasification unit if we can pump natural gas directly into the moored ship.
Thus VOG must have the most competitive-priced solution?

At least they are awake on the Advfn Blvn blog.
Thanks for reposting, nufckk.

My post didn't go through?
300MW project possible in Douala port (twice the size of Aksa)
See my posts on LSE VOG (BUsiness in Cameroon and Karpowership 'headers')

Power generation in the Port of Douala twice the size of Aksa power station could be with us in 90 days!
See my posts on LSE VOG. (Business in Cameroon article + Karpowership).

If that doesn't put a rocket under the SP, nothing will!
(PS: I hesitated buying at 3.8p the other day, then minutes later went out of reach - so just in VOG myself, but similar prospects as to BLVN).

Well, I added on that.
Astounding news imo.

See my post below (Business in Cameroon);

Note from today's RNS:
The company is also in discussions with new customers in the Douala area for further thermal and power projects representing significant energy demand requirements.

Karpowership are talkng of supplying 300MW
From the article:
The arrival of this independent producer in Cameroon will not only allow the country to experiment with a new technology in terms of electricity production, but also to boost its installed capacities (around 1650 MW), and thus move towards target of 5,000 MW in 2030, as foreseen in the national development strategy 20-30 (SND 20-30) drawn up by the government.

So, to get an idea how big this is, 300 / 1650 = 18% of Cameroons entire 'installed capacity'. In comparison, the Aksa power station is only intended to add 150MW capacity.
And it is right in the heart of Douala where we have a gas supply monopoly.
And we will be billing an international Turkish company (like Aksa), and not reliant on payment by Eneo.
And it can be set up in 90 days - no power station needs to be built.
8) Powership is a fast track solution that delivers electricity in 90 days. It is also high efficient using the most economical fuel available in the market and with a higher efficiency compared to similar solutions that lead to an economical generation cost....

Fingers crossed - but if Roy can land this supply contract then we are seriously in the money.

Thanks, Forest.
Also this one:
https://www.investiraucameroun.com/energie/2801-15889-le-turc-karpowership-propose-au-cameroun-la-production-de-300-mw-d-electricite-dans-un-bateau-au-port-de-douala
(Business in Cameroon) - On January 25, 2021, a delegation from the Turkish company Karpowership was received by the Cameroonian Prime Minister, Joseph Dion Ngute. From good sources, this company went to present to the head of government the outlines of its project to produce 300 MW of electric power on a boat moored at the port of Douala, in the economic capital of the country.
"? We proposed to the Prime Minister to develop, in less than a month in Douala, a 300 MW electricity project, which will immediately produce electricity at less than 40 FCFA per kilowatt ?", confided Zeynep Harezi , the commercial director of Karpowership. According to this Turkish company, discussions on this project began a year ago with the Ministry of Water and Energy and the Autonomous Port of Douala (PAD).
The energy that Karpowership aims to produce on its boat at the port of Douala is intended to supply companies in the port area, and to be injected into the national electricity grid. To do this, the Turkish company will have to sign an energy sales contract with Eneo, the concessionaire of the public electricity service in the country.
Presented as the owner, operator and builder of the world's first Powership fleet, Karpowership has since 2010 completed fifteen Powerships with a total installed capacity of over 2,800 MW.
The arrival of this independent producer in Cameroon will not only allow the country to experiment with a new technology in terms of electricity production, but also to boost its installed capacities (around 1650 MW), and thus move towards target of 5,000 MW in 2030, as foreseen in the national development strategy 20-30 (SND 20-30) drawn up by the government.

See http://www.karpowership.com/en/powership-in-10-questions
2)...Fuel flexibility through Low Sulfur HFO, Natural Gas or LNG ensures the lowest cost of delivered power with no capital outlay.
7) Powerships can be installed at a coastal site where there is an available substation for electrical connection and suitable marine conditions for berthing or mooring. Mooring will be followed by interconnection of Powership to main grid. Finally fuel connection takes place either from on-shore facilities via pipeline or through bunkering.

My Comment:
It seems to me that this could be a potential new customer? Do we already have a pipeline running to the port of Douala? We are probably in a better position to power this electricity generation than anyone else?

The bit that said the update was positive.

Good progress on all fronts;
- RSM litigation postponed to Q2 earliest (perhaps RSM hoping for an out-of-court settlement?).
- Daily gas sales up by 0.4 MMscf/d per day and further organic growth by summer of 1.5 MMscf/d representing a 40% increase on Q3 2020.
- LA-108 put into production early February.
- well-planning process started for shallow well on Matanda licence (presumably to be drilled this year)
- CHL settlement provides net revenue increase from Dec 2020.

'no idea where TA guys see the next support level '
My thoughts, N2M, though no expertise at TA:
I guess, at best, 50dma at 11p; but looking like a classic head and shoulders which will take it below 10p. RSI been 'overbought' sometime. So, without positive news on fundamentals, may well drift down to these lower levels as the impatient move on.
What is the expected newsflow?
Any big buyers in the background? (Vitol?)
Any re-rate likely?
These 3 above could reverse the downward technical pattern.
New Customer news, debt refinancing, lump repayment of trade receivables, Calabar privatisation, marginal fields, partnerships, new institutional investment, all would be good.

Someone topped up from 'back of sofa' at 16.39.