Construction Equipment Appraisals

Victoria Oil & Gas PLC Letter to Shareholders

It is my pleasure to review your Company's activity over the last few months. It has been a productive period with the Company working closely with the Ministry of Industry, Mines and Technology, State oil and gas company, ("SNH") and the offices of the President of Cameroon to secure a Decree for an Exploitation Licence for its Logobaba gas and gas condensate field in Douala, Cameroon. The President of Cameroon, His Excellency Paul Biya signed Presidential Decree No. 2011/112 on the 29th April 2011, awarding Exploitation Rights to and appointing Rodeo Development Limited ("RDL"), VOG's wholly owned subsidiary, as operator of the Logbaba gas and gas condensate field. This followedextensive due diligence carried out by the Ministry of Industry, Mines & Technology, SNH, and the offices of the President and other Ministries. Under the terms of the Logbaba Concession Agreement signed in 2001, SNH has exercised its right to participate in the concession and will contribute its share of development costs. Victoria's revised ownership of 57 per cent remains the significant controlling stake. SNH's participation in Logbaba is very positive news. Their direct involvement will help us to maximise the full potential of the project both technically and in developing the market and infrastructure. The exploitation rights, which were awarded over the entire 20 square kilometre development area applied for by VOG, are for 25 years with an option to extend for a further 10 years. This is a huge milestone for the Company and paves the way for project delivery and the commencement of first gas sales in early Q4 2011. To mark this success, RDL has arranged an inaugural ceremony, with 150 dignitaries and official guests invited, where His Excellency Minister of Industry, Mines, and Technology, Ndanga Ndinga Badel will perform the first 'breaking of the ground' for the pipeline at the Logbaba site. All of the equipment required to re-open the wells, and commission and install the process plant and pipeline is now located on-site in Douala. The civil engineering contracts for construction of the process plant plinths, bunding and installation of the gas pipeline network have been tendered and are ready for award to Cameroon civils contractors. Mobilisation of these contractors will be completed by the end of May and construction work will begin immediately using double shifts working seven days per week. In addition, three construction teams will be utilised on the pipeline for trenching, jointing and installation. Concerning gas sales agreements ("GSAs"), we currently have 11 GSAs signed and executed together with a further 10 GSAs which have been contractually agreed subject to legal due diligence and signature approval. All contracts will be signed at a price of $16 per thousand cubic feet of gas, ($96 per barrel of oil equivalent,) fixed for five years from the date of first gas delivery. Logbaba has proven and probable reserves of 212 billion cubic feet of gas (35.3 million barrels of oil equivalent). The present market for substitution of existing customers' heavy fuel oil ("HFO"), liquid petroleum gas ("LPG") and waste oil, together referred to as liquid fuels, is approximately 8 million cubic feet of gas per day ("mmscf/d"). This market has the capacity to treble over three years as RDL proves itself a reliable energy supplier and existing industrial customers are sufficiently confident to invest in new production lines and expand output, whilst attracting new customers. The market for gas fired power generation on customer sites is estimated at 35 mmscf/d. This is more than the expected market for the substitution of liquid fuels. Given the higher capital requirement on the part of the customer to invest in gas fired generation and equipment lead times, we expect this market to develop over the next couple of years. In aggregate, RDL's management base case forecasts envisage a potential supply of 44 mmscf/d (7,300 barrels of oil a day equivalent) by 2014.

Wisconsin business valuator appraiser the greatest career ever

Equipment and machinery appraiser is an easy type of work to comprehend. Typically the heavy equipment appraiser process is not difficult, however the construction equipment valuation service finds heavy equipment that may be unheard of . A part of the equipment and machinery valuation service involves developing an inventory of all items for instance Kawasaki, Diesel Generator, 5000 psi pump as well as other equipment.

 

Typically, a good equipment and machinery evaluator can look at the equipment review and begin to find out the equipment appraisal service is appraising. Whenever an on-site appraisal service is finished he can can easily further provide valuation services for the equipment determined by the condition.

 

Several variables for you to find out cost include things like; corrosion on the heavy equipment, the cost to repair the heavy equipment and also expense to be able to exchange it. A business valuation for any enterprise may be necessary in specific conditions, and a business owner may seek an appraisal for tax purposes, possible liquidation, documenting conformity to industry norms for standards certification, or when facing a lawsuit. In the event that a business evaluation is called for, it is vital that you are aware of the appraisal’s possible legal and monetary impact, so as to make the right choice of business appraiser. The financial situation of the modern world is constantly in flux. With uncertainty in the industrial markets, accurate information and assessments are invaluable to the average consumer. Understanding the exact value of your machinery or inventory with the backing of a highly trained and experience appraisal professional can give you the confidence and knowledge you need to step up and take on the market. Machinery appraisal may be the single most worthwhile investment available. All these elements help the appraisal services technique to completion.

 

Across my personal 46 years career as a Wisconsin heavy equipment and machinery appraiser I have ran into some very unusual equipment to evaluate. Whenever a item of equipment is scarce you'll find nothing to compare and contrast the value to. This will likely help to make evaluating the construction equipment a lot more complex.

 

On some special occasions I have actually had to go as far as phoning the business equipment seller to help determine the cost of the construction equipment. Usually the construction equipment vendor will help me to address my requests.

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