Member Info for happysparrow

https://www.cameroon-today.com/cameroon-business.html
Douala - 'the biggest economy in the sub-saharan Central African region'.

ran out of gas?

Yes, Pecten - it seems strange that they know a lot more at, for example, The Cable (and Riverfort?), than we ever learn from the company.
But not sure the increased volumes reflect action on this - the volumes go either way.
A simple RNS is really not much to ask for - we never got it last time despite repeated requests; waiting some months for the information (that Zengas has just recalled and posted) .

Thanks, Zengas.
Given the importance of our cash position being fundamental to the share price (and the paying off of the Riverfort Loan being a good indicator of that), and the history of this being a thorn in the side of shareholders, presumably we should have received an RNS by now if it had been paid off?

telegraphist - you might be right - I was only adding 6 months on from memory. Have not checked exactly when due.

Thanks, Interzone.
However, I recall that this was the issue that first set the 'suspicion' ball rolling on there being a cash problem - then the mysterious alteration to the short positions that Mount Teide noticed - then The Cable article came to light on this bulletin board in February.
We finally got some message out of the company that the loan had been extended for 6 months - it was like squeezing blood out of a stone.
No RNS by 17th July very much means the loan hasn't been paid off in my book - and the reason is because we haven't got the cash.

Tier - as mentioned before, the question to ask, imo, and what to watch out for, is 'Will the $5m Riverfort Loan be paid off before July 17th?'
And no RNS by then - then you know the answer.
That, for me, is proof of the pudding.

As with my post of 26th May, new House Broker report with raised target price, adds to my expectations of another placing coming soon.

Thanks, earache, for putting in all the hard work - I'm afraid I only took a cursory look, got as far as reading some posts that CPI were a bit dodgy/useless, and posted some basic information on here yesterday. After reading your analysis, I agree, I'm not sure we'd want much to do with CPI as an outfit - unless SG can pick it up as a distressed asset very cheaply.
Regards our bloated board, and our recent payment of $500K to get rid of the CFO, I just wondered how much it would take to get rid of most of the board - only 3, perhaps 4, have any contribution to make - the other 5, or 4, are deadwood - but just how much would it cost to kick them out? I got the impression that SG was the tea-boy, owed his position to the BoD, and wouldn't be making much effort to kick them out or stop them sucking blood out of the company. No salary reductions for Covid-recession, no serious G&A, capex or opex reductions. That, and the coming quarterly report, did for me.
However, I noted that the SP wasn't drifting lower, that there seemed to be a large buyer in the background, that there may be something in the offing with the CPI rumour, and nipped in on Monday to pick up a few at 19.3p.
Fingers crossed.

Stretchum - another late reported trade (350,000 buy) today, 600,000 buy yesterday - to continue all week, and on? - institution?
Fingers crossed.

Note: there has been little upward movement in the TSX: CPI share price since April 24th.

https://condorpetroleum.com/news/condor-announces-2020-first-quarter-results/?pg=1
.....The Company is discussing a farm-in with an interested party and the intent is to drill the side-track well in 2020.

Note: I can see no statement that says the Turkish Assets are up for sale?

https://condorpetroleum.com/investor-relations/corporate-presentations/

ORTAKOY (GALLIPOLI) PENINSULA NW THRACE BASIN
OPERATOR
Marsa Turkey BV 100% wholly-owned subsidiary of Condor Petroleum Inc.

RESOURCE
Natural Gas

WORKING INTEREST
100%

AREA
110 km2

LICENSES
(2)

SEISMIC (ACQUIRED 2011 & 2013)
472km – 2D
15.8 km2 – 3D

DISCOVERIES
5

POYRAZ RIDGE
STATUS
Producing 1.5 to 2.0 MMcfpd

PRODUCTION
On stream in December 2017

PROSPECTIVITY
Large prospect and lead inventory.

First-mover Advantage
– Discovered “new” petroleum system
– Proven “new” Miocene – Eocene play
– Proven thrust-fold trapping system
– Repeatability with near-field prospects

https://condorpetroleum.com/operations/turkey/
Condor Petroleum, through its wholly-owned subsidiary Marsa Turkey BV (MTBV), has a 100% working interest in two adjoining production licenses located on the Gallipoli (Gelibolu) peninsula in NW Turkey, lying within the SW extension of the prolific gas-producing Thrace Basin. The company has since proven the area it to be an emerging high-value, low-cost play with significant development and exploration upside. Key to the commercial metrics of the project is the 36” Inter Turkey-Greece-Italy pipeline which transects the Ortakoy license. The Poyraz Ridge gas field has been tied into the ITGI export pipeline via a 16 km tie-in and is now on production as of December 2017. Gas sales are marketed via a top tier mid-stream company. The Poyraz Ridge facilities have been designed to handle up to 15MMscf/d.

Earache, is this your post on Condor (1st June) coming in?
I thought it looked a real possibility; and wouldn't object to SG spending money on a project of this size (as long as he didn't overpay - something I've expressed concern on before).

Spread now 20-22p
Volatile trading in Canada yesterday, hitting 44 cents (26p) and settling at 38 cents (22p).

See my post here of 11.16 today.

https://www.eneocameroon.cm/index.php/en/eneo-news/actualite-eneo-actu-gouvernance-leadership-management-en/2911-insights-on-the-financial-health-of-cameroon-s-power-system-in-early-2020
'.....The most visible consequence is reflected in the difficulties encountered in the daily supply of fuel to our thermal power plants, leading to load shedding. Since December, the Prime Minister, Head of Government of Cameroon, informed of this situation, has been able to make an appraisal of the major threats looming over the sector. He has instructed the Ministers and Administrations concerned to take the necessary actions to restore the financial balance of the sector in general. These actions include, among other things, the immediate injection of cash and the mobilizing this year of the funds necessary to clear all the debts. We are hopeful that these measures will be implemented as soon as possible to quickly improve the quality of electrical service.....

https://www.eneocameroon.cm/index.php/en/actualite-communiques-en/communiques-communiques-de-presse-en/3025-may-2020-stakeholders-bulletin