q and a: who wants to be a millionaire ...., page-66

My thoughts on Matanda P72


Let me explain why I believe Matanda P72 will be traded off/sold,.for bigger fish?.

I did some calculations on some of the costs involved in bringing the Matanda P72 projects to a successful conclusion.

IMO:- At this junction the raising of sufficient capital for the Cameroon Matanda project would be prohibitive, but in light of what the company has done so far not impossible by any means. However I believe it would take upwards of 2 possibly 3 years once everything was in place to commission the project.

Upwards of US$200m+- imo.

The modular power station and accompanying infrastructure would take up the lion’s share of the capital. New wells, a condensate separation plant, gas compressors, associated piping for the gas to the PowerStation and the piping of condensate to the offshore barge/s etc.

We now have an offer on the table of double what was paid. Humm

My suspicion is that Bowleven may be involved somewhere in this.

All conjecture at this point from me, but I must admit it’s been an exciting journey so far and this is really just the beginning as I saw everything before as “Flight Preparation.”


CVI intends to:-

“(i) Carry out 2D seismic acquisition and processing and interpretation.

(ii) Drill one extended reach well from nearby Koo to the two discovery wells NM 1X and NM 2X. The well will be tested at two locations and completion with shut-off capability will be incorporated.

(iii) Construct a 100MW modular power plant at Koo and transmission line to connect the plant to the grid of the nearby city Douala.

(iv) Lease a barge for storage of the condensate.

(v) Commence production and commission the power plant.

(vi) Evaluate the other undrilled prospects in PH72.
Conclusion of the Matanda agreements will trigger negotiations for the adjoining permit in the Niger Delta.”



Keep well all.