Member Info for LeaGreen

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?

"Still a high disconnect between the BLVN market cap of £11m and their valuation of BLVN's share in Etinde as $150m."

True, and that $150m was a reduction from $212m post the D&M post drilling audit in 2019 and reading this from Hamz74's kind AGM report might well mean a re-rating back some way towards that $212m:

"The valuation model, which is validated by the auditors EY, could be updated in 2022 if the Equatorial Guinea option materialises. Broker research does not currently include the Equatorial Guinea option, which should have lower costs than the previous plan that involved building a processing plant to split up the outputs, and reinjecting methane. The broker research reports should be updated when and if Equatorial Guinea becomes the official choice"

Suggest a look at p12 of the Annual Report under the heading "Regulatory Approval" but if Bioko route hopefully comes to pass, everything will be stood on its head.

Hamz74, many thanks for that AGM report and it was also much appreciated on the ADVFN board where I posted it with an acknowledgement to you.

I wonder if you can recall any discussion at the AGM on development costs. Clearly from the AR, the ball park pre FEED figure given by Chahin, as I recall, on the 2019 AGM Conference Call of $600/700, has gone up substantially, so is that now being put at around $1bn? In comparison, therefore, was any guidance provided on the extent of the saving and what the capex might be should the Bioko alternative become reality?

Many thanks

What date is on that please as I can't find it on the current pages "Business in Cameroon" and the link in French is simply going to an "Error" message?

"so I'd guess $5-10m per well?" Be surprising if any well was that cheap, let alone one in difficult country in W Africa but perhaps that was what the old management at Bowleven thought before blowing $100m on Bomono to come up with gas flows of c 6mmcfd

"who is going to buy the gas from Matanda as we have more gas now than we can use and we don't have enough gas customers now , so where are they going to come from.?"

Leaving aside Matanda, how much is being produced from the existing well(s) and is there capacity to increase production there without further expensive work?

Any indication been given for likely cost of drilling Matanda?

Notwithstanding its name and Channel Islands registration, New Age is a Chinese company:

Https://www.newafricanglobalenergy.com/directors/