Bowleven Share Discussion Threads

[warbaby43] 17/6/2022 16:53

The Etinde-Episeyo estimate of distance in the linked piece coincides with the estimate in the first para of 19317. As part of the licence a proportion of production was to be allocated for Cameroon government purposes with the figure originally appearing as 500bn cu ft to be used by the a then proposed fertiliser plant and now SNH seemingly express that requirement as 70 mmcfd to be set aside to fuel proposed power 150MW and 350MW plants at Limbe and Bekoko. However, given the ramshackle, dilapidated and highly unreliable state of the Cameroon power transmission system, proposing to add a further 500MW of gas fuelled generation plus a planned 402 MW of hydro, seems beyond rationality. But there again, just look at the nonsense that is UK energy policy and Cameroon is not alone.

[ham74] 17/6/2022 08:52

Can you explain the distance comment, and estimates of capacity after the power generation? Is the power generation anyway based on future projects yet to be developed?

[warbaby43] 16/6/2022 17:27

Https://www.upstreamonline.com/field-development/new-dawn-perenco-strikes-deal-to-acquire-newages-etinde-asset-in-cameroon/2-1-1232671 Confirmation of distance estimate and, given that, along with the amount of gas left after 70 mmcfd to be set aside for power generation, Episeyo does seem an unlikely destination. Perhaps Perenco, being the major Cameroon O&G player, want to be a part of the Vitol Gas Hub project but, in that case, it does seem to be a very curious point for New Age to be relinquishing. However, they appear to have been without a CEO for quite some months now, so there may be a shift in corporate priorities being required by Kerogen and Hopu their major principals.

[fraserdean] 08/6/2022 14:14

Processing rich gas was previously a hurdle

[imjustdandy] 08/6/2022 07:36

This could turn into a very exciting situation.

[fraserdean] 07/6/2022 15:11

Anyone know the distance from Etinde to the Episeyo? Cheers

[warbaby43] 07/6/2022 11:11

One giant step for Bowleven man with Perenco clearly not being phased by having Lukoil as a partner but what would really be interesting is to know the price being paid by Perenco. Meanwhile, back to posts 19202 and 19206 regarding Etinde/Perenco/Episeyo/Golar Do the odds now lengthen on EG and shorten on Episeyo for Etinde gas, or is the Perenco intention to allow the Golar contract to expire in 2026, swallow the pipeline costs and aggregate their production with that of Etinde to increase the viability of the EG gas hub and construction of the long on the drawing board second train of the Marathon LNG plant I welcome correction but my understanding is that the Episeyo does not have processing capacity and consists of four liquefaction trains only two of which are currently being utilised and with the Perenco gas currently being processed at their Kribi plant before being piped up to the Episeyo. A very big plus in all this is that Perenco have been operating in Cameroon since 1993 so will have a longstanding relationship with SNH and the government. Should be a fascinating presentation and conference call when it comes.

[imjustdandy] 07/6/2022 10:54

Added a few more sun 6p . Big rise next week

[dealy] 07/6/2022 10:33

buying out all partners would probably make sense (especially with Lukoil being Russian)

[ham74] 07/6/2022 10:33

As both New Age and Perenco are private companies, they need not report details. Neither has put out releases. If a public company entered the fray, I reckon we would probably see details.

[billytkid2] 07/6/2022 09:51

Would be interesting to know the terms of the deal between Perenco and New Age.

[imjustdandy] 07/6/2022 09:20

6p Might look expensive on todays move but its mega cheap

[oilretire] 07/6/2022 09:00

Amazing! I might have to look these out if the bottom drawer.Fantastic and credible new partner.

[deanmatlazin] 07/6/2022 08:56

$25m back to BLVN. The amount is almost double the size of BLVN market cap excluding potential of oil under the ground

[neilyb675] 07/6/2022 08:36

3.50 - 4.00 (GBX) at 08:35:55 on Market (LSE)

[billytkid2] 07/6/2022 08:18

Could be game changing news today.

[gark] 02/5/2022 12:34

Surely that should mean a higher probability of the government wanting to move forward with the scheme.

[buy_more] 01/5/2022 19:19

could this put more pressure on etinde to keep the most of its assets in the country? hTtps://allafrica.com/stories/202204220040.html

[buy_more] 25/4/2022 22:25

hTtps://www.upstreamonline.com/people/former-lukoil-boss-to-bankroll-social-initiatives/2-1-1206490 "Against other major Russian oil producers, Lukoil has the largest international exposure, with upstream projects ranging from Kazakhstan and Uzbekistan to Africa and Mexico. The company has yet to make any assessment on the impact of wide ranging western sanctions on its business model that calls for the gradual expansion of its upstream exposure outside the country, with the focus in natural gas projects."

[ctc1] 21/4/2022 21:50

Lukoil CEO sanctioned and now resigned from board. Prob won't affect Etinde development progress under New Age operatorship. https://www.bloomberg.com/news/articles/2022-04-21/russia-s-lukoil-ceo-alekperov-resigns-after-being-sanctioned?srnd=premium-europe

[ctc1] 11/4/2022 12:39

Thank you warbaby,that is very interesting.

[warbaby43] 11/4/2022 12:11

In the AR the route to a Bioko development was spelled out as being a choice between tolling agreement(s) with the Punta Europa JVPs or a sale of the Etinde wet gas direct to Marathon as a route requiring less complex negotiations and therefore being faster and more certain. Given all the many, many delays thus far, it's likely many on here would have much preferred the Marathon path. It could have been seen as something of a negative, therefore, when this appeared in the H1 Results: "Of particular importance is the nature of the agreement relating to the processing of wet gas feed and the ultimate ownership of the sales products. SNH has previously indicated that their support would be contingent on a tolling style arrangement where the JV partners retained ownership of the sales products." However, what could be considered encouraging is that a precedent does exist for the tolling route so the Etinde JVP would not be starting from scratch in negotiations: Https://www.offshore-energy.biz/deals-signed-for-e-guinea-gas-mega-hub/ Noble/Chevron are one of the Bioko partners and they have gone down the tolling route with their Alen field with the above piece featuring an interview with one of their senior VPs: 'At start-up, natural gas sales from the Alen field are anticipated to be between 200 and 300 MMcfe/d, gross (~75 to 115 MMcfe/d net to Noble Energy). The wet gas stream will be tolled through the Alba Plant for additional liquids recovery before converting dry gas into LNG via the EG LNG facility. Noble Energy anticipates that Alen natural gas sales will grow modestly as open capacity in the EG LNG plant increases due to declining Alba field production. “Noble Energy and partners will maintain ownership of the hydrocarbons through the processing facilities, and the Company will be progressing negotiations for offtake agreements to sell the LNG in global markets. Total estimated gross recoverable resources from the Alen field are approximately 600 billion cubic feet of natural gas equivalent,” Noble Energy said.'