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Why is the price showing 5.3?
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All major companies in Cameroun has there own diesel - hfo generator. Yes it would be cheaper /better with gas, but they have to be close to the vog pipeline.
Was it you banjo, Who sold 5.5 mill shares?
JRich thank you fore the answer.
Roger dont want to coment on the 6.7 mill dollars admin cost. Dos sombody here know wat vog shareholders got from this overspend?
Hi Roger. I hope that you understand why I find it wery wery strange that you, VOG a gas selling company, don't want to negotiate with Grenor. A company with a ambitious goal to make 1000 MW gas to power in cameroon. You say that VOG is undervalued, but apparently the market thinks that it is overvalued, and the sp is going down. This won't change before you show some real progres, WM sale, big GSA signed, big Cash holding in the company, a trustworthy budget. It is not easy to get more bank credit on pies in the sky, so the market is convinced that there will be another fundraiser.
Depreciation and amortisation seams to cost a lot of money. Is it possible to reduce this?
Regards Uffe
1 month ago, before Jamie nimmo told us about the aksa deal. Grenor lovered there kWh price 10% under the aksa price and send the New offer to the minister of energy.
On page 18 in the Grenor presentation you can read about the IPP and production licens.
I send the grenor presentation to you on e-mail 20-06
Finn did also send a copy of the grenor presentation to Kevin Foo and Ahmed Dick last year.
(Yes and I am reviewing. Also speaking with Cameroon and will come back to you shortly...)
Hi Roger. Have you come to a conclution?
Regards Uffe
Not yet
Hi Roger. If you need eney thing to Come to a conclution. I Will be at your service. Regards Uffe
Hi Roger. What other information do you need to finish your reviewing? Regards Uffe
In My wiew it look as if there is sombody Who don’t want a deal between vog and Grenor. And so far vog are helping them.
In My wiew it look as if there is sombody Who don’t want a deal between vog and Grenor. And so far vog are helping them.
It is wery wery Hard for me to se how this Will be positive fore vog.
Uffe, please stop trying to draw conclusions on little information. I can not discuss with you this matter. I told you I am looking into it and will always do what is best for VOG and it’s shareholders
Roger has never asked me for this. You know, when he writes; “he has asked for this for months”, it is very strange. I met him 30th of April and since then struggled to get in touch with him, how can he ask me for anything? I presume Roger has copy of his requests to Grenor about this?
I have many documents about our presidential support. I send you copy of articles from the Cameroonian newspaper as one example....
I have send you the original e-mail from Finn With the IPP and produktion licens. It is in frensch, so I dont understand it. Regards Uffe
Read article II and III. And section 4.12 in the IPP.
Permission to produce power 150 MW. 20 years.
Regards Uffe
Uffe, Of course I and our colleagues asked for it, as we have done with anyone asking us to supply them with gas. Did you email it to me?
Yes it is in your mailbox
Let me review
Did you find the email?
Do you speak frensch?
Yes and I am reviewing. Also speaking with Cameroon and will come back to you shortly
Hi Roger. I am sorry if I have affended you. That was newer My intention. I hope the roumers about Aksa energy is for real.
Hi Roger. My only concern is that government aproval can take years. Regards Uffe
Hi Roger. Aksa energy, No IPP, No produktion licens, No government aproval, birds in the sky. Why dont you make a similar deal whit grenor, they have IPP, produktion licens and President aproval. They only ned a PPA. Regards Uffe
Uffe, You are not being told the correct information. Please ask Grenor to send me all they say they have. I have asked them for it for months and nothing. Best, Roger
I am sorry if I am wrong. I just tell you What Finn is saying to me. I know that he is able to manipulate me. I Will try to get some prof from him. Regards Uffe
I have asked Finn. And this is his answer.
Dear Uffe
Here is the IPP license and the production permit. This is regulated in one document. It was issued in 2015 and remain for 15 years.
Hi Roger. I am a bit disappointed, you said. A couple of good RNS before the AGM, not a single one. I will call you later today, you didn't call. I will call Finn next week when I have been with the bord, I reckon you have been with the bord, but you haven't called Finn. Is this the way to regain the investors trust?
Hi Roger. I am worried about our new Kazakhstan investor. He now holds more than 23% of the shares. No report about the financial situation in the Q2 tells me that we are still having problems with the budget, and because of that and the lack of progres with new customers the sp will probably still slide. The kazakhstan investor is gaining power, and will soon be able to buy the whole company at a ridiculously low price. He will have the power to vote for it with +23% of the shares.
You said, I assume you will approve of Management seeking the best possible price for our gas. I say yes, but I prefer progres instead of fundraise and unrealistic high gas prises. So far we have had little progres, but a lot of fundraise.
Hi Roger. Finn is convinced that somebody is being bribed to stall the negotiations. I am beginning to think the same.
It just dont make any sense to hold back the LOC. Unless somebody has a hidden agenda.
I hope you also have great cleaning skills. you will need it. regards Uffe`
Hi Roger. I have just seen that the Savannah oil logo has bean changed. So no connection between vog and savannah oil any more.... You probably wonder why I am still invested in vog. why I haven't left the sinking ship like most other private investors. Well I almost did. I sold half my shares after Kevin said last year, that eneo would be back online whit in 2 weeks. I was about to sell the rest, when I spoke to Finn fore the first time, It was one of the first days in the new year, and he said to me, don`t sell up now, I will do a major gas deal with vog in the near future. Half a year after, there is still no deal between vog and grenor. More than 200 emails have gone back and fort between Finn and me. We have been discussing geopolitics in Cameroon, public debt, power shortages, global and local gas prices, eneo, globeleq, alltaaqa, vog and corruption. I rely hope that you and Finn will find a solution and make a deal in the near future, so that we can end 15 years of bad management, where the only thing vog has been great at is raising investors money and spending them. Regards Uffe
You were talking about a byer for 25% of Mantanda, my guess Lukoil or New Age. Etinde and Mantanda holds more than 3.5 TCF of gas combined. Big enough to a joint LNG project.
The Board of Directors are in control of the business and are fully aware of the activities which are ongoing. You are at liberty to inform any third party as you wish, but I kindly request that you tell them the truth, to the extent you are aware. Again, thank you for your communication, and I look forward to meeting you in the future.
Best,
Roger.
Hi Roger. Thank you wherry much for your long reply. Fin says that he dont care about the price. He is not the one who is paying fore the gas. GOC and eneo is paying fore the gas, and they have accepted a price of 6.75-7.5 Regards Uffe
Fin agrees with you, that he needs to do a lot of work with gas consumption profiles. Power plant preps and a lot of other things. But right now he just need a LOC with your name on and a recent date, to continue the negotiations with eneo. It is still hard for me to find a logic explanation why you wont send it to him. Regards Uffe
In the mean time, perhaps you can explain to me why the savanna oil logo is the same as the vog logo?
If you want to regain investors trust. Then clean out skeletons from the past. Not to me, but in a RNS
Uffe,
Thank you for raising this matter. We welcome all shareholders to join the AGM and would be happy to meet you and your colleagues then. Please understand that there are certain matters that we are unable to discuss with you (and other shareholders) without first having put such information in the public domain through a regulatory announcement with AIM. Whatsapp messaging is not an appropriate forum. FYI, we have been actively engaging with Grenor (and other IPP’s) for over 5 years now and have proceeded to negotiate a term sheet with them, just when such term sheet was final, Grenor went silent for over 10 months. In the past we have delivered to Grenor two signed letters of intent. Grenor is not the only potential gas consumer GdC has. We pursue every lead to secure offtake for the benefit of the company and its shareholders. Finn for sometime has consistently argued that GdC gas price is too high for Grenor. Yet we have approval of the gas price from Eneo and Minister of Energy as per current Eneo contract, the pricing of which we announced publicly. Finn has also argued that government has to approve any gas price Grenor agrees and has consistently tried to push gas price to $5 or below, which has been rejected many times. Other IPPs and offtakers whom we have spoken with are willing to reduce their profits and accept the gas price as advised by GdC. As a shareholder, and our interests being aligned, I assume you will approve of Management seeking the best possible price for our gas.
Roger, some of my fellow investors from the VOG investor group is going to join the AGM. Perhaps you will rather tell them face to face in public, why you are not sending the promised LOC to Grenor. So far I have kept all the info that I have about grenor to myself. If the present situation is not changing, I feel obligated to inform the vog investor group.
Hi Roger. If Finn is trying to manipulate me to put pressure on you, to lower the gas price in a LOC. Please let me know, and I will step back and apologize immediately. I dont have the full view over the negotiations. And it would not surprise me if Finn is trying to manipulate an old hard testet investor like me. Regards Uffe.
I still think that you should call him, and get this mess sorted out before the AGM. Regards Uffe
Uffe,
Hi Roger. If I understand it correct, the LOC is just a simpel, not binding, piece of paper. Would it mean a lot of trubbel and harm for VOG to draft on and send it to grenor? Apparently Finn think that it is vital for the negotiations with ENEO. Why not let him have to balls to play with on his court..
Hi Roger. Unless there is fraud involved, ore Finn is a crock, I can't find a sensible reason for you not to send the LOC to grenor. And I think that my fellow investors will think the same. You say that VOG is not blocking the negotiations, but apparently you are blocking the negotiations between ENEO and Grenor.
Grenor have presented all earlier letters, but they are not accepted since it is a new administration in VOG. You use more time and efforts to explain why Grenor have enough documentation than making a simple letter. Grenor is blocked by ENEO since they cannot provide this letter. You think it is stupid and Grenor think it is stupid, but this is the reality. Why is it so problematic to make this statement? You have promised Finn this letter several times and it is natural people get suspicious when it don’t come.
Grenor need so big quantities of gas and can solve VOGs problems. We should do all we can to help. A contract with Grenor will increase the value of our shares immediately.
A rice in the share price should also be in your interest, unless you have a different agenda. This is not a good way to regain investors trust. Regards U
Hi Roger. Thank you for a pleasant conversation the other day. I still think that you should send the LOC to Grenor. I mean, what do we have to lose? It`s not a signed GSA.. In two weeks time, Grenor will be meeting the president. Grenor will have to report about the progress on the negotiations between Sonatrel, Eneo, Grenor and GDC. Negotiations ordered in the letter from the energy ministry dated 26-04-2019. If VOG don’t send the LOC, Grenor will have to tell the President that VOG are blocking the negotiations. Is this the new beginning for VOG? Grenor and the president Paul Biya will back you up against eney government official who is trying to delay the negotiations.
Regards Uffe
Hi Roger. You have said to me that it is a government official who is asking you to pull back on the negotiations with Grenor. Perhaps the official is korrupt!!!
You might think that I am just trying to get inside info from you, ore that I am working for Grenor. But I am just a VOG investor who has done some research, and who have asked a lot of questions to Kevin Foo with no answers returned. I get most of my intel from Finn Johnsen, who is eager to make a GSA whit VOG. I dont know anything about the past history between VOG and Grenor, but it must be troubled. The only reason why I am writing to you is my concern fore the future of VOG. I dont care who you are selling the gas to, as long as the deal is done. Hopefully you have other IPP`s asking fore a deal like Grenor. Globeleq perhaps, and you have the opportunity to bet on to horses. But to promise a LOC to Grenor and then forgetting all about it, is orrd. Fore the last 5 years I have been dreaming about a big gas deal like this. And so has my fellow investors.
Hi Roger. I am pretty sure that Grenor and the President Paul Biya will back you up against any government official including the minister of energy who is trying to delay the negotiations. Grenor needs ouer gas to realise there projekt. and they will protekt there interest.
Hi Roger. I hope you are doing the right thing. At least you could call Finn and tell him why you are blocking the negotiations, that would be the decent thing to do. Ore just say that you are sorry that you are not able to keep your promise about the LOC. If you tell him that it is confidential he wont tell me.
Regards Uffe
Uffe, we are in no way blocking the negotiations. As I said, we told Finn that we can supply the required gas, but he has to advance with the government on a credible development plan for the plant. He has to work through the issues with the government and then come to us with a plan and demand profile. We have already been clear what it cost to produce gas and explained to him the commercial pricing. The ball is in his court. Best, Roger.
Thank you for the answer Roger. I just dont know why he is so eager to get that LOC then.
This is wery Odd. Considering the reduktion in wages.
So now Ahmed Dick have exercise hes 0.00p 433.000 share options and are able to sell at 14p? Banking the profit.