BML Balmoral Intl

    RNS Number : 1421Y
  Bramlin Limited
  02 July 2008
   

    Bramlin Limited
    ("Bramlin" or "the Company")

    Gas Sales Agreements and Operational Update


    Bramlin, the independent oil and gas company focusing on exploration and production in Cameroon, is pleased to announce today that its
wholly owned subsidiary, Rodeo Development Ltd., the operator of the Logbaba natural gas field near Douala, Cameroon, has executed three
agreements to sell natural gas to industrial customers in the Douala area. The terms of these agreements, although confidential, are in line
with the economic assumptions presented in the Company's re-admission document dated 22nd November 2007.

As part of the planning for the commercialization of the Logbaba field, a gas market report was commissioned which identified the potential
demand for natural gas and stated that approximately 16 million cubic feet per day could be sold to industrial energy users in the Duala
area. First deliveries of natural gas to industrial customers are expected to occur in late 2009 and the Company is in negotiations with
additional potential industrial customers in the Douala area with a view to capturing a significant percentage of this identified potential
demand by the time of first gas.  

    The first phase of development has a planned requirement of two producing wells, which will be twins of the original wells drilled in
the mid 1950s when the Logbaba natural gas field was discovered by Elf SEREPCA. Despite several positive well tests for natural gas the
field was never put on production due to there being no market for the gas at that time.  Bramlin intends to develop the field in order to
provide local industrial customers with low cost natural gas and further development in the future could involve the supply of natural gas
for power generation, which is currently being considered by the Cameroon government.  The high Btu content of the natural gas stream also
justifies Natural Gas Liquid extraction with the liquids being sold into the local or export market.  

    Jim Ford, CEO of Bramlin, said, "This is an important first step in the commercialization of the Company's proven natural gas reserves.
The availability of clean and inexpensive natural gas for the industries of Cameroon will help those industrial users compete in the West
African market place and will be a catalyst for future growth and employment."


 Bramlin Limited
 Jim Ford, Chief Executive          Tel: +1-713-523-6336

 Ernie Miller, Commercial Director  Tel: +1-713-523-6336

 Strand Partners Limited
 Angela Peace                       Tel: +44 (0) 20 7409 3494

 Tristone Capital Limited
 Nick Morgan                        Tel: + 44 (0)20 7355 5800



This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
AGRFLLFBVDBBBBV

Balmoral Intl (LSE:BML)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Balmoral Intl (LSE:BML)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024