Member Info for luckyswimmer

News could come anytime on one or some of the following:

1) Farm-out of Algoa-Gamtoos licence in Sth Africa. 3.7bn bbls of STOIPP and close to Brulpadda and Luiperd discoveries.

2) Farm out of Namibian block with Exxon PSCs to the north and south. Analogous to Shell's and Total's successful offshore Namibian drills.

3) Announcement of the formal extension of Cameroon licence

4) Funding from BGFI or asset level equity funding from other source for NJOM-3 appraisal well

5) Rig booked for NJOM-3

it seems only sensible to hold a few shares in case one of the above events occurs which may kick start some of the other events too.

Sorry to see you go GRH. Hoping you will return when all of us who have taken this opportunity to top up are celebrating some decent gas flow rates.

No one seems to know what's going on but currently there are regular outages in the country and there are 3 options.

1) Pay for imported coal and qui kly bankrupt the country whilst simultaneously adding to co2 emissions by transporting coal great distances.

2) Try other energy sources like nuclear or solar which may result in even more loss of agricultural land and requires massive investment and long lead times.

3) Dig up their own coal which would supply already built power stations, provide employment and improve the balance of payments no end.

As long as they replace the f and the i keys on their typewriter before they negotiate with Shell or other majors then they might just pull off an Orange basin look alike deal..

I'm not sure if that was a large sale that had to be digested or market makers testing the waters but I struggled to buy any under 2.1p. I still think there is a chance that the government will want to be seen to be doing something to resolve the power supply crisis before the election.

We are building the World's largest offshore wndfarm - Dogger Bank which will have 3.6GW capacity in 3 years time. Sounds good, the only problem is China is building 26GW of coal fired capacity each year which dwarfs any renewable investment in the West. So China's energy costs will end up being the lowest in the World and the West will struggle on with super high energy costs for a few years until we succumb to their more efficient economic model.

It does seem a long delay. If it is so difficult to source 7" guns then surely its quicker to drill another hole to just 285m but with a narrower bore suitable for the 4.5" gun.

With unused new power stations sitting idle and no sign of falling imported coal or natural gas prices it would make sense for the Government to immediately order the development of Phulbari coal mine in case they cannot find another solution to the energy crisis over the next 5 years. They could present it as an interim measure due to unexpected external factors and so not loose too much face. If they do nothing then they risk choking their hugely successful textile industry by having only intermittent electrical power. Decision time is now.

Great article

"capacity has increased from 4,942 in 2009 to 29,700MW today" - at least they are honest enough to admit that it is only theoretical capacity not actual generation of electricity, due to the small issue of no fuel available at sensible prices.

"emphasis is being laid on coal" - nice to see this in print, thanks searcher, an encouraging article.

Was SP Angel the broker to UJO when the price crashed 40% in days as insiders sold shares knowing they could buy them back in the placing while small shareholders were kept in the dark.

Wow, ..new energy master plan focuses on local energy..

The Hydrocarbons Unit .. under the Energy Ministry .. proposed to formulate "The Energy Sector master plan" focusing on local and primary energy ..

Are you sure you didn't write this article Searcher? If it's genuine then the Government has just executed a gigantic hand brake turn. I guess a few days with no air conditioning has finally made them see sense.

Ouch, financing news was supposed to arrive first so that the placing price was more reasonably priced. Any potential profit now is halved due to this dilution. Potential is still there with excellent assets so will just have to sit this out now.

Au contraire, same source rock as in the south but shallower water and therefore more easily drilled in the North. Just waiting for someone to offer TRP a deal they can't refuse, could happen any day. In the mean time, you never know, the Cameroon bank might actually sign off the loan.

I guess the important thing is not to let the electorate realise that it is the short sighted policies of the Government that has led to resistance to its own cheap, high thermal coal being dug up. So when coal imports dry up as hard currency reserves decline and international coal prices soar then the lack of electricity supply is suddenly declared due to technical faults at the power stations. The best is when an official says don't worry we can simply use the grid in Rangpur if the power station is shut, he is the chief engineer apparently.

Good article., thank you searcher. Bangladesh's power stations needs coal desperately. The temperature is rising, more heat waves are expected, air conditioning is therefore becoming more and more urgent and yet the government is running out of hard currency to buy imported coal. Looks like the government is going to have to start thinking outside the box of its 10 year stubborness.

Drilling through the main target now. Next, electric logs then cementing to find the sweet spots of likely hydrocarbons to perforate and test. The formation water is my main concern. If they get lucky and can isolate a hydrocarbon producing section from formation water zones then even if its only 300 bopd then they can get back the cost of the well in just 40 days. That would be a great result but if they get a larger flow rate at the beginning of a 4 well campaign then some brokers are going to have to tear up their forecasts and spend an evening or two on their spreadsheets.

Rich, thanks for the warning, I know the AIM market is treacherous waters with placing information used by insiders to short before announcements but these Turkish drills are cheap and so not much finance is needed. If one well test gets a decent flow then cash is no longer an issue. I also like the fact that we are passed one major risk of actually finding oil shows.

Topped up at 0.107, looking forward to 4 stages of uplift 1) flow figures for 293m to 400m. 2) flow figures for the main target below, 3) second drill in the area and 4) news onshore UK.

The ministry wants to increase output from the underground mine at Barapukuria but the mine managers point out that it is difficult to increase the rate of extraction! Oh that's a difficult one. In an ideal World they would have a larger open pit coal mine elsewhere, just waiting for a green light. A mine capable of supplying all their power stations and ensuring their energy security for decades. Where might they find such a thing.

Encouraging article, Mr Azud announces "We could not harness our natural gas and coal yet which is unfortunate". The use of the word "yet" confirms all options are being considered in the higher ranks of government. They want foreign investment so they are going to have to display a plan to tackle the power outages.