Member Info for LeaGreen

If it's anyone like Barclays, to vote requires telephoning their Corporate Actions team and instructing them over the phone.

Https://www.perenco.com/wp-content/uploads/2024/02/Five-well-drilling-campaign-on-Kita-Eden-field-Cameroon.pdf

And the man who made the "Most stupid move ever" has looted the company and its shareholders ever since.

For comparison:

https://www.foxbusiness.com/lifestyle/helium-discovered-minnesota-us-supplies-dwindle

Considering that it's AGS also doing the overdue Ntorya seismic processing and interpretation, surprising that this from the Kiliwani Update has caused so little concern:

"The third party contractor responsible for the seismic program has suspended operations. As a result, PAET has issued a breach of contract notice to the contractor. The contractor has failed to remedy the breach under its agreement with PAET. The Company has therefore terminated the contract on October 25, 2023."

Are AGS still in operation even? Their website is still up though it does not appear to have been updated since 2018.

As for this from the latest RNS:

" We will provide a further update to the market on the progress of the other Ruvuma workstreams in due course."

Isn't "in due course" small oilie speak for "not any time soon"?

Many thanks for taking the trouble Hamz74 look forward to your notes of the meeting

Thanks chaps and the tracks just emphasize how comprehensive 3D seismic is.

I freely admit to being pretty crap at visual interpretation and map reading but looking at scales, am drawing conclusion that the coverage hasn't gone so far west as to take in anything significant of Namisange. Looking at its size in outline, though, it will merit a major survey down the line and especially if Chikumbi hits the spot.

The legacy seismic showed a very large lead attributed 2.62 tcf just to the west of Ntorya (can be seen on p8 of AR) but have been having trouble sourcing a map showing area covered by recent ARA seismic so is it known if this survey took in any part of Namisange?

If it is AGS who are also the Orca seismic contractor then look where they are domiciled. However, they do not appear to be part of the Zubair Corporation.

https://www.ag-services.org/about-us/

They appear to be a substantial international operation including a UK operation but if they have gone bust, then between the seismic trucks departing from Ntorya and useful material being handed over to the ARA geologists there will be an enormous amount of data to be processed, analysed and transformed into a useable format via highly specialised equipment and teams. Crossed fingers and everything else that this process has been completed.

"The third party contractor responsible for the seismic program has suspended operations. As a result, PAET has issued a breach of contract notice to the contractor. The contractor has failed to remedy the breach under its agreement with PAET. The Company has therefore terminated the contract on October 25, 2023."

Is this contractor also the one responsible for the Ntorya survey, processing, analysis and interpretation the final results of which were due by the Summer?

If their non performance has been due to their going bust doesn't that seriously damage the Ntorya programme?

If, big IF, FID is ever attained, the worth of BLVN will most likely be determined by its share of Etinde's 1 tcf of gas and 100m + barrels of liquids with drill test results flows since float in December 2004 of 150 + mmcfd of gas and 30k + bpd of liquids.

What isn't in the public domain, though, is what flows there were from the wells drilled before that date. From the New Age website:

"The Etinde Permit has been extensively explored. 18 exploration and appraisal wells have been drilled since 1967, of which 14 discovered hydrocarbons."

"may well be just PI(s) buying of course" - very sensible if it is, given that the higher the price can be driven pre any equity raise the less the dilution will be.

What says so much is what such a pitiful amount of money could produce such a share movement.

Https://www.upstreamonline.com/finance/maurel-prom-bids-to-acquire-gabon-player-as-tanzania-deal-founders/2-1-1467087

https://www.thecitizen.co.tz/tanzania/news/national/new-natural-gas-contract-ups-government-benefit-4033808

https://ecomatin.net/le-cameroun-cherche-a-importer-60-000-tonnes-de-gaz-domestique-pour-approvisionner-son-marche/

https://ecomatin.net/hydrocarbures-le-cameroun-veut-traiter-son-gaz-naturel-en-guinee-equatoriale2/

https://ecomatin.net/champ-gazier-de-logbaba-la-justice-autorise-un-allegement-de-32-milliards-a-gaz-du-cameroun2/

And Iain Esau updated:

Https://www.upstreamonline.com/field-development/new-dawn-perenco-strikes-deal-to-acquire-newages-etinde-asset-in-cameroon/2-1-1232671

I have bought 500,000 over the past three days with most of those trades not showing up on here. I guess the impetus might be coming from the proximity of the H1 Interims and some anticipation of progress towards development via the Bioko route.

But there again, doesn't BLVN usually disappoint?