Member Info for happysparrow

Really, Jed?
Let's see your figures and calculations then regards: 'So with their current turnover there isn't enough left to pay down debt and cover running costs let alone make a real profit.'
Or is it just BS from you?

Oh, and also the $9m refund from ENEO also - I expect this to be settled soon (fingers crossed, of course).

Watch the cashflow - this will tell you how the company is really doing.

It all depends on the quality of customer, 3CB - how much they consume, how much they pay, are they good payers.

'...Good luck to the investors and I truly hope the new management can turn it around.'
Thanks, Najabat.

This RNS of 25th June is probably of more relevance:
Trading Update



Revenue

Gaz du Cameroun S.A. ("GDC") continues to safely produce and sell natural gas to over 30 customers in the Douala area. The Cameroon Government's easing of lockdown conditions and the usual seasonal swing have resulted in a recent increase in gas demand.



Unaudited revenue for calendar year 2019 was $20.6 million (2018: $10.8 million). Unaudited revenue to 31 May 2020 was $8.6 million (2019 for the same period: $8.7 million).



Cash and Cash Equivalents

Cash and cash equivalents at 31 May 2020 was $5.0 million (31 May 2019: $15.7 million).

Thanks, RF68.
The derampers don't seem to understand that this has been a recovery play since new management took over. 2019 legacy position was well known to anyone who has done some research.
Very simple, really (like me).

Maybe, Bookamdanno - there again, you may well miss out. Good enough bargain for me - will not be this low by end of October (even end of today?) imo.

MM games. The current price is 2.35 - 2.89p
I added at 2.7p (early bird...)

Key statement (for me):
As this report covers a period of time that preceded Roy Kelly's appointment as CEO, I am going to personally refrain from detailing the future strategy of the Company. Roy is a CEO of the calibre that does not need an Executive Chairman. His appointment predicated my announcement to step down to a Non-Executive Chairman role after the publication of this Report and our General Meeting in October 2020. I am confident that under Roy's leadership, and with the addition of our new CFO, Rob Collins, the Company is in good hands and will be set in a new direction to ensure shareholder value. They themselves will communicate their plans in due course and will have my continued input and backing. In the coming weeks the Company will be releasing its Q3 20 Operational Update and the Interim Results to the end of June 2020.

interesting response on the Advfn BLVN board - 'all very odd and probably nowt' (Warbaby); 'something seems to be happening in the background' (Gark) - The Ferrostal article out of the blue (about something largely 7 years ago) is perhaps linked to the recent corporate action (share transfer) at Blvn [Warbaby - the key is in the last last line, ie total shares 335m but VOTING shares 323m with balance held in treasury. For example, a would be purchaser would need to buy 4m shares fewer and COC's %age share of voting shares rise.]
Probably just a coincidence; but intriguing nonetheless.

'...should we now be lowering our expectations to a near term rise nearer to 5p. Or in other words, less than 1p above the SP when this was mentioned....'

No.
A quick look at the charts show the next leg up is at 6/7p; then at 12/13p.
It is irrelevant what the price is today - that doesn't alter history.
What would lower those historic targets would be dilution.

But surely you know this 3CB? Just more trolling mischief?

https://www.investiraucameroun.com/economie/2809-15279-tourisme-ornithologique-un-filon-pour-relancer-le-secteur-touristique-au-cameroun-apres-le-covid-19

Good luck, Trek.
At the beginning of the year I baulked at putting money in at 22p as I thought a placing was due - it came, but after the drill result. Wish I'd followed your advice then. However, after the SAVP non-payment debacle in late Feb, switched a lot of my money here, and built a solid holding; now 60% of my portfolio. For me, a lot riding on this too. But few butterflies - feel somewhat confident of a good result - perhaps a dangerous position to be in?

Sorry for not explaining more, Hamz. Please see my posts on LSE VOG. There is a new 'business in Cameroon' article today on this subject - hence I reviewed the background.
https://www.investiraucameroun.com/economie/2509-15267-depuis-7-ans-ferrostaal-peine-a-materialiser-son-projet-d-usine-d-engrais-chimique-dans-le-sud-ouest-du-cameroun

http://otp.investis.com/clients/uk/bowleven1/rns/regulatory-story.aspx?cid=1058&newsid=493191

My posts on LSE VOG may be of interest?
(EurOil is Bowleven subsidiary)
http://otp.investis.com/clients/uk/bowleven1/rns/regulatory-story.aspx?cid=1058&newsid=493191
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.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

Also note:
https://www.energymixreport.com/cameroon-seeks-new-partner-to-build-limbe-power-plant/

https://www.ferrostaal-ip.com/en/industries-bu-industrial-ferrostaal/petrochemicals-bu-industrial-ferrostaal/products-bu-industrial-ferrostaal/fertilizer-bu-industrial-ferrostaal/

https://www.investiraucameroun.com/economie/2509-15267-depuis-7-ans-ferrostaal-peine-a-materialiser-son-projet-d-usine-d-engrais-chimique-dans-le-sud-ouest-du-cameroun
(Business in Cameroon) - The Cameroonian ministry in charge of the economy (Minepat) informs that the German company Ferrostaal is struggling to materialize its chemical fertilizer plant project in southwestern Cameroon.

According to this Cameroonian public administration, Ferrostaal, specializing in the manufacture of chemical fertilizers, has been in negotiations for four years with Cameroon and other partners. However, “? the negotiations come up against the proposed gas price which makes the project unprofitable. The file is at the National Hydrocarbons Company, ?”reveals the Minepat.

And yet, from February 14 to 18, 2018, a delegation of German businessmen, led by Günter Nooke, Chancellor Angela Merkel's special representative for Africa, stayed in Cameroon to revive this project.

After being received by the Head of State, Paul Biya, on February 15, an audience was granted to the German envoy by the Minister in charge of the Economy at the time, Louis Paul Motaze. The German side then explained that Ferrostaal's discussions with SNH are stumbling over the cost of raw materials. Mr. Motaze had promised to study the matter. But since then, the project has stalled.

For the record, a commercial pre-agreement, relating to the supply of natural gas to the future chemical fertilizer production plant in Limbé, was signed in 2013, 7 years ago. It was between SNH, Ferrostaal and the company EurOil Limited.

The chemical fertilizer production project should require an investment of CFAF 1,250 billion, for an annual production of 600,000 tonnes of ammonia and 700,000 tonnes of urea, intended for the local market and for export. The infrastructure is expected to be supplied with gas to the tune of 70 million standard cubic feet per day.

Sylvain Andzongo