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Troubled: Challenged West Africa gas scheme hit by sanctions on Russian partner
Progress at New Age's challenging Etinde development offshore Cameroon has been hit by Ukraine conflict

Come across this information while doing some research, don't know if the sanctions still apply.

5 April 2022 10:53 GMT UPDATED 7 April 2022 10:04 GMT
By Iain Esau in London
A long-delayed gas and condensate project offshore Cameroon that was set to be given the go-ahead this year has been hit by yet another major problem because one of the partners is a sanctioned Russian company.

Chinese-financed player NewAge has been trying to get the multi-field Etinde development to fly for several years, but its complex geology and disagreements with the Cameroon government have always made it a challenge and something of a marginal asset.

The first Exploitation licence took 12 months for the application to be sanctioned by SNH.
It is now just over 12 months since the joint partners were invited by SNH to reapply for the Exploitation Licence. Should be hearing something in the not to distant future hopefully.

With plenty of Gas & Condensate ( 300MBOE ), in shallow waters, BLVN could turn out to be the perfect storm.
With Russian & Chinese money involved onshore and offshore, there shouldn't be any problems with regard to the development costs. It just needs SNH to fulfil their obligations and we should be up and running.

With gas prices rocketing, exploitation licence in the offering and FID not too far away, makes BLVN look like a better gamble.

Assuming the specified 500 k lift gives 10.85 k BPD, not bad considering the ESP problems.

Nansen Spirit on her way to Lancaster ETA 0700hrs

CaptainSwag
Kerogen has been very conspicuous by their silence, I highlighted them as the new owner's many moons ago.

Just in case anyone is interested, Petroatlantic is on her way to Lancaster to pick up the next lift.

Sorry, ignore my last post EQI showing the wrong figures.

19M Shares in the first 10minutes, what's a-foot.

Pisces21
If you are out there, does the Altera Wave have a smaller tanker close by, or is it a false echo?

If today's tanker is for a trial connection as pisces21 suggest, it has perfect weather to carry out the operation, wind westerly 6 to 8 knots.

Albie
Tony Maris performance to date has been abysmal he leaves the de-rampers in his wake when it comes to doom & gloom, he is as much use as an ashtray on a motorbike.

Continued.
get value for money should there be a takeout.

I agree with adoubleuk CA are not increasing their stake to take over the company they will want a director on the BOD and the removal of certain directors.
However, the same cant be said for Kerogen they have the know-how, the personnel, and plenty of Chinese money.
They removed their director from the BOD so there is no conflict of interest, and sent the SP into a downward spiral by announcing their 16% stake is up for sale.
There has been no evidence of Kerogen reducing their stake so it makes one wonder what they are up to.
Maybe CA intentions of increasing its stake and getting a director on the BOD is to spoil the party and make sure shareholders get

A very good analysis AK good to see you back at the poker table.

The last time I checked PI held29% of Hurricanes share capital and with CA 14 5% may be enough to call an EGM and win a vote of no convidence.
I think Kerogen might be lined up to be the recipient of the shenanigans that are taking place.
It was Kerogen who helped the spiral downwards by announcing their stake was up for sale.
AIMHO DYOR.

That accounts for the 40m after hrs Friday.

Add to the above, that both Beverly Smith and Tony Maris have stated there could be significant reserves in the Sandstones above Lancaster.

MaverickD
It seems incredible that they can come up with the volumetrics for a highly complex fractured basement the first drilled on the north sea continental shelf, yet they can't come up with the volumetrics for Sandstones, something we have been drilling through for possibly the last hundred years.
Complete BS, an insult to peoples intelligence.