gas fired powerstation on the way good news for BLVN and VOG A high-level delegation of the General Electric (GE) Company was June 30, 2017 received in audience at the Unity Palace by the President of the Republic, Paul Biya. The Head of State met the group, which was led by Jay Ireland, President and CEO of GE Africa. The American multinational conglomerate corporation is prepared to invest in Cameroon’s energy and transport sectors. The presidency reported after the audience, Jay Ireland told Unity Palace correspondents that GE is willing to accompany President Paul Biya’s socio-economic vision with projects that are related to the production and transmission of power (hydro and gas). GE Africa’s boss also announced that the company is prepared to develop the railway and aviation industries in Cameroon. He gave a two-year time limit for the actualisation of certain operations. Meantime President Paul Biya also held talks with a special envoy of President Roch Marc Christian Kabore of Burkina Faso. The Head of State met with Thierry Hot, Special Adviser to the Burkinabe President on Thursday June 29, 2017. Thierry Hot was bearer of a fraternal message linked to on-going measures to bolster bilateral ties between Yaoundé and Ouagadougou. President Paul BIYA and his Burkinabe counterpart initially met on Friday 23 September 2016. The meeting was on the side-lines of the 71st United Nations General Assembly in New York.
new age oil bids 36p a share for Cameroon oil and Gas explorer 50 % increase over closing price of 25p the Board of COC recommends the deal New Age will now have 50% ownership of the oil and Gas reserves that Etinde offers some disgruntled share holders cannot stop the sale as they say the company is been stolen from under their feet, many other shareholders glad to see the end
and do you expect them just to make up news so they can feed it back or as they have no control over the drill or the president Biya decision not to agree to the costings for the drill probably because the brown envelope wasnt big enough then BLVN lost any voice when the sold to Lukoil and Newage
China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s. Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor, chilling it into liquid form on a floating platform and transferring it into tankers for export. China, however, is making a strategic push into FLNG, aiming to become the lowest cost seller of the complex floating plants and lead the global rollout of a technique that remains in its infancy, with only one project in commercial production so far. The country needs gas as a cleaner alternative to coal under a drive to improve air quality in its cities, and has already lent $12 billion to Russia's conventional Yamal LNG project in the Arctic as U.S. sanctions scared away Western banks. It has also lent or committed almost $4 billion to three FLNG schemes off the African coast. In two more African projects costing a total of $3 billion (2.36 billion pounds), it plans not only to provide the funding, but also build the production platforms. "We see a real commitment to FLNG in China both from the construction side and from the LNG consumption side where decreasing costs mean potentially lower cost LNG," said Steve Lowden, chairman of Jersey-based NewAge which is planning FLNG projects off Congo Republic and Cameroon. China already dominates the global market for solar panels and is a major supplier of coal-fired power plants, aided by easy money, cheaper labour and state support. Now, with Beijing pushing President Xi Jinping's "Belt and Road" vision of expanding trade links between Asia, Africa and Europe, it is turning to FLNG to bring high technology work to its shipyards and create jobs - a strategic priority. FLNG is also attractive to resource-rich but debt-burdened African countries. Projects can sail into place, drop anchor, and begin exporting for much less than the cost of onshore plants, the price of which quadrupled in the decade to 2013. That, at least, is the theory. The reality is that the technology remains complex. Royal Dutch Shell's <RDSa.L> mammoth Prelude FLNG plant, for example will be aboard the world's biggest floating structure, but must squeeze the equipment into a quarter of the space occupied by an LNG plant on dry land. Wave motion and ocean currents add to the difficulties. The $12.6 billion Prelude project, which is due to start operating off Australia in 2018, is typical of those conceived during the era of high energy prices. However, spot LNG prices have fallen 70 percent since early 2014 and are expected to remain under pressure or drop further due to extra supply from new conventional plants in Australia and the United States. Despite this, some pro
new age have agreed loan terms to finance Cameroon US-based oil and gas group New Age has received an up to US$425mn loan facility led by energy fund EIG and the Africa Finance Corporation (AFC) for the development of fields in Africa. An initial US$350mn has been disbursed, with an accordion feature allowing for an additional US$75mn to follow. The AFC itself is investing US$75mn in the deal, and the deal received support from five institutions in total, including EIG and a Middle East-based sovereign wealth fund. The facility will be used to finance New Age’s offshore oil and gas fields in Congo-Brazzaville, Cameroon and Nigeria, as well as a further oil field in Iraqi Kurdistan Iraq. Hogan Lovells advised EIG and AFC as principal senior lenders. London infrastructure, energy, resources and projects partner Richard Tyler says: “This presented both a challenge and opportunity in the current market – new upstream oil and gas financings are relatively rare at the present moment due to the low oil price, and involve a variety of country-specific issues; however they present attractive commercial opportunities for specialist funds and lenders.” Clyde & Co advised New Age on the transaction.
SNH are looking to get a better result they are holding Newage to ransom new age need to get there finger out and start proper negotiating with SNH even if they agree to the development where snh dont take money until their share of what would have been theinput is postponed not much communication from COC i feel they are happy to let the price fall and gather up more shares
news from the print yesterday great find 1msn Off Cameroon, Bowleven is holding development discussions concerning the Etinde gas field, at the time of this writing. Operator NewAge had staged a technical workshop to review options for Etinde, with a view to gain agreement from all stakeholders on the preferred development solution(s). The choices include floating LNG, gas-to-power, and others. Participants at the meeting agreed that a commercially viable FLNG scheme with domestic gas offtakes as they become available could represent a credible forward development plan. Bowleven says there are sufficient resources to support one initial gas offtake solution - more if planned appraisal drilling targeting up to 2 tcf of gas and associated liquids proves successful.
with the recent rating from RBC reduced to 1.33 seems very strange as rest of the companies to rate them are around the 225 mark is it possible that rbc are getting a commission from another company to reduce the market price to make it more attractive as a takeover target lets say the decision on the 10th may is that FDA approve the product GSK would be daft not to buy the company the loss in sales to them is much higher than what they could buy VEC for whats your thoughts
ETINDE PROJECT In June 2014, LUKOIL joined the deep-water offshore project in the Etinde block on the Cameroon shelf in West Africa (the deal was closed in March 2015). The block is located in the Gulf of Guinea, offshore Cameroon, in close proximity to the border with Equatorial Guinea. It is developed on the basis of a product-sharing agreement (PSA) signed in December 2008. In July 2014, a 20-year license was obtained for the development of the Etinde block. Previously, thirteen out of fifteen exploration and appraisal wells drilled at the block yielded positive results. In 2015, two more appraisal wells were drilled. Currently, the Company is conducting design and engineering activities at the site and drawing up a development program for the newly discovered gas fields. The final investment decision on the project is expected to be made in 2016.
With the good set of results do you think that Novartis will be looking to buy vec while they are still relatively cheap
bdgm before spouting dribble get the facts the terminal is opened and well protected and loading the tankers that are booked in for october and november eland and shell are not giving information due to the delicate discussions which are going ahead next week with the government and the local militants scheduled for monday morning