Member Info for happysparrow

quotes at close were 2.91 - 3.15.

Not long before Mummy calls you in for tea.

?
Latest Trades
Date & Time Volume Price
26/08/2020 14:44 36,000 2.994

Patience, BS - not long now.

Better run off and tell Mummy then, 3CB.

So the trolls had the posts removed (again). What a surprise.

https://allafrica.com/stories/202008250034.html

https://s3.amazonaws.com/rgi-documents/a4747cccc6f351bd68faf02a4f80c2ab93860486.pdf See page 8.
LNG (cooking gas) is for domestic households.
VOG sell piped gas to industrial customers. Douala is the industrial centre of Cameroon.

https://www.investiraucameroun.com/actualites-investir-au-cameroun/2408-15068-le-cameroun-a-produit-225-918-84-m3-de-gaz-naturel-liquefie-a-fin-juin-2020
https://www.energymixreport.com/golar-lng-achieves-76m-profit-from-strong-cameroon-performance-in-q1-2020/
https://www.investiraucameroun.com/actualites-investir-au-cameroun/2408-15067-application-du-nouveau-reglement-des-changes-le-cameroun-transmet-ses-contrats-miniers-et-petroliers-a-la-beac
https://www.energymixreport.com/cameroon-produced-over-9-mln-barrels-of-oil-at-end-april-2020-snh/

https://www.investiraucameroun.com/actualites-investir-au-cameroun/2408-15070-gaz-du-cameroun-filiale-de-vog-affiche-un-chiffre-d-affaires-non-audite-de-11-4-milliards-de-fcfa-en-2019

Perhaps I've underestimated the value of this asset?
In my mind I had more or less written it off.
Let's see what Roy can do - a big big plus if he can transact a sale, imho.

According to the documents published by the WikiLeaks magazine, the Nadym gas pipeline unit is named the most critical gas facility in the world.[11].
The total proven reserves of the Medvezhye gas field are around 83 trillion cubic feet (2370 km³), and production is slated to be around 4.89 Billion cubic feet/day (140×105m³) in 2013.[1]
-
This was followed by several giant and large dry gas fields in the Aptian-Cenomanian Pokur Formation, including the Medvezhye Field and Urengoy Field, which commenced production in 1972 and 1978 respectively.
The thick continental Aptian– Cenomanian Pokur Formation above the Neocomian sequence contains giant gas reserves in the northern part of the basin.
Three total petroleum systems are identified in the West Siberian basin. Volumes of discovered hydrocarbons in these systems are 144 billion barrels of oil and more than 1,300 trillion cubic feet of gas
https://en.wikipedia.org/wiki/West_Siberian_petroleum_basin#/media/File:West_Siberia_structural_map.png

https://en.wikipedia.org/wiki/Medvezhye_gas_field#/media/File:West_Siberia_oil_and_gas_fields.png

https://en.wikipedia.org/wiki/Nadym
https://en.wikipedia.org/wiki/Medvezhye_gas_field
https://en.wikipedia.org/wiki/West_Siberian_petroleum_basin

VOG holds 100% of the West Medvezhye oil and gas exploration project near Nadym, Russia. The field has C1 plus C2 reserves of 14.4mmboe (under the Russian resource classification system, analogous to proven and probable reserves under Western conventions) in addition to best estimate prospective resources of 1.4bboe.
http://www.gazprominfo.com/terms/medvezhye-field/
2006: https://www.rigzone.com/news/oil_gas/a/28866/reserves_increased_at_west_medvezhye_gas_field_after_feasibility_study/
https://www.gulfoilandgas.com/webpro1/main/mainnews.asp?id=4729

https://www.eurasiareview.com/02022018-russia-energy-profile-economic-growth-driven-by-energy-exports-analysis/

I was in Moscow in Summer 1977 - It was snowing. Hard to believe it is 40 degrees C. in Siberia at the moment.
https://www.themoscowtimes.com/2020/07/27/well-preserved-mammoth-discovered-in-russian-arctic-as-permafrost-thaws-a70993
Still, perhaps that will make drilling easier there?

Our team has evaluated and managed many oil and gas assets of KazMunaiGas, West Siberian Resources, Rosneft, RussNeft, TNK-BP etc. The evaluation led to execution on number of acquisitions and divestures in various counties. The key members of the team participated in number of oil and gas discoveries in Russia, including the recently discovered huge oil field Velikoye in Astrakhan region. Among other discoveries are oil and gas fields in Eastern Siberia and Timan-Pechora province of Russia etc.

Projects geography covers FSU (Russia, Kazakhstan, Georgia, Ukraine etc.), Middle East (Iraq, Syria, Jordan), Africa (Nigeria, Ghana, Egypt, Algeria etc.), both Americas, the North Sea etc.

http://wellenergy.ru/en/o-kompanii/

Useful info, RF68. In my mind I'd written the assets off.
3CB's mention of £50m, for an £8m market Cap company is a dream (and perhaps where it will stay?). I'd be very happy for a tenth of that.
This was the RNS of 27th July: The Company is pleased to announce that a third party Technical Report has been completed by Well Energy Group (Russia) on the Company's 100% owned Western Medvezhye Licence in YaNAO, Russia. Based on this Technical Report, the Company has commenced a formal process to divest the Western Medvezhye Field and is in discussions with buyers of the field. Whilst a prospective buyer is conducting due diligence, the Company expects an extended sales process due to the COVID-19 crisis and the volatility of crude prices. '

In discussion with 'buyers' (plural) and ' a prospective buyer is conducting due diligence'.
The area produces 22% of World gas output. Clearly a lot of infrastructure here, and strong knowledge base, with many operators here.
https://globalvoices.org/2013/01/23/russias-siberian-state-within-a-state/

RF : I'd be very interested to get some idea of the range of value or rough 'ball park' figure that you've heard might be discussed - or a good comparative to look at.

Understandable that this company has been a disaster.
But it is now under new management.
Very simply, its called a recovery play.
Why is it so hard to get this concept across to the negative posters here?
Why not just wait and see how things progress in the next 6 months?
(I'm not expecting any rational response to this post - I have given up on that long ago.)

RNS 27th July:
'... a restrictive lockdown persists in the YaNAO region of the FSU where our West Medvezhye asset is located.
SVERGAZINVEST ("SGI") UPDATE
The Company is pleased to announce that a third party Technical Report has been completed by Well Energy Group (Russia) on the Company's 100% owned Western Medvezhye Licence in YaNAO, Russia. Based on this Technical Report, the Company has commenced a formal process to divest the Western Medvezhye Field and is in discussions with buyers of the field. Whilst a prospective buyer is conducting due diligence, the Company expects an extended sales process due to the COVID-19 crisis and the volatility of crude prices.'
https://globalvoices.org/2013/01/23/russias-siberian-state-within-a-state/
https://www.rusbiznews.com/regions/The_Urals_Federal_District/The_Yamalo-Nenets_Autonomous_Okrug/
https://www.nasa.gov/image-feature/goddard/2020/wildfires-in-siberia-bring-more-challenges-to-locked-down-area
https://www.themoscowtimes.com/2020/07/27/well-preserved-mammoth-discovered-in-russian-arctic-as-permafrost-thaws-a70993
https://7news.com.au/news/world/mutant-ticks-overwhelming-hospitals-in-siberia--c-1073782
https://www.washingtonpost.com/world/europe/russia-coronavirus-covid-siberia-trenches/2020/07/16/248c1ade-c10d-11ea-8908-68a2b9eae9e0_story.html

I expect Roy is looking forward to his first visit here.