Manica Group Namibia attended the International Oil and Gas conference, held last week in Swakopmund. The event attracted specialists from Ghana, South Africa, Nigeria, Senegal, Tanzania, France, the US and Brazil to share their experiences and lessons learned. Delegates represented the different oil majors, development financing, exploration and petroleum experts and government officials. The conference dealt with various aspects of the oil and gas industry, from exploration to drilling to processing to value adding. Topics ranged from legal frameworks, petro-chemical engineering, financing, local content and capacity building, logistics and sustainability.
Opening the conference, the Minister of Mines and Energy, Tom Alweendo, emphasised the importance of partnerships in the oil and gas industry. Partnerships and the importance of local content constant themes in many of the panel discussions at the conference. The various panel discussions added an optimistic ambiance to the future of Namibia’s oil and gas industry and it was uttered by more than one delegate, that it was not a matter of “if” but “when” Namibia finds commercially viable oil.
Namibia’s Petroluem Company, Namcor also used this event to sign a farm-in agreement with ExxonMobil, effectively increasing the oil major’s exploration acreage in Namibian waters to four blocks. The blocks extend about 215km from the shoreline in water depths up to 4,000 meters. Exploration activities are planed for later this year.
Shareholders of Bidvest Namibia are referred to the circular to Bidvest Namibia Shareholders containing details of a conditional take-over by the Bidvest Group to Bidvest Namibia Shareholders, to acquire all remaining Bidvest shares not owned by the Bidvest Group by way of a take-over scheme (‘offer’). Subsequent to the acceptance of the Delisting Resolution by the requisite majority, the offer has been declared unconditional by the Bidvest Group and has become effective, irrevocable an open for acceptance during the Acceptance Period.
Further to the cautionary announcement released on the Stock Exchange News Service (“NENS”) of the Namibian Stock Exchange (“NSX”) on 12 December 2018, the subsequent renewal of the Cautionary Announcement released on NENS on 23 January 2019 and 1 March 2019 and the announcements released on NENS on 11 April 2019 and 25 April 2019. Shareholders are hereby advised that the requisite majority of Bidvest Namibia shareholders eligible to vote, have approved the delisting. In terms of this passed resolution, the listing of all the Bidvest Namibia Shares of
Bidvest Namibia on the Main Board of the NSX be suspended and terminated with effect from 11 June 2019 or at such times and such dates as will be approved in accordance with the Bank of Namibia and by the NSX
Further to the cautionary announcement released on the Stock Exchange News Service of the Namibian Stock Exchange on 25 April 2019 relating to the circular to shareholders, supplementary information relating to the sum of the parts valuation, culminating in the fair and reasonable valuation range of N$8.95 to N$9.45 as per the E&Y Fair and Reasonable opinion included in the circular, is available on the this website.
Further to the cautionary announcement released on the Stock Exchange News Service of the Namibian Stock Exchange on 12 December 2018, the subsequent renewal of the Cautionary Announcement released on NENS on 23 January 2019 and 1 March 2019 and the announcement released on NENS on 11 April 2019. A combined circular has been issued today by Bidvest Namibia Limited and the Bidvest Group to a conditional Take-over offer in terms of sections 320 – 327 of the Companies Act….