Azonto Petrol. Share Discussion Threads

[bad robot] 25/3/2015 10:15

Reverse takeover coming?

[bad robot] 25/3/2015 10:08

fenseal

I remember mugging you on Hibu. Do not come in BR house trying to steal his Bellinies

[bad robot] 25/3/2015 09:53

Bad Robot 19 Mar'15 - 08:27 - 232 of 249 0 0 edit

Bought this just pure gambling yesterday. Pyaing off .

IN BR casino, he always wins

[tidy 2] 25/3/2015 09:49

Remember CRND due to sell asset for 150m by March 31st The company boasts a resource of 10million ounces above 900m and 26million in exploration ounces.Du Toit said the interested buyers all had the capital needed to expand the operations and grow the company's asset base.Central Rand Gold garnered Asian interest through its connection with Hong Kong-registered RedStone Capital.

[fenseal3] 25/3/2015 09:46

You may find this being in an explosive situation, a seller around now gone, shares being shorted now need buying back an undervalued company with newbies coming in, GLA!!!

[fenseal3] 25/3/2015 09:38

Amazing, you have shell companies with MC more than this, this dropped due to a seller that has gone they have cash and are cost cutting, also assets worth 20m, i thing a few quid in here is a better bet than a shell thst will delist, 1p is a MC of 10m, pennies!!!

[edgein] 25/3/2015 09:25

Fenseal,

You'll find they have $7.4m AU$, that's about £3.4m and from the last cash flow report they burned $12m in the previous year on admin costs. that's about $1m per month, let alone fund their share of development. Perhaps one to look at post significant refinancing, offshore gas developments aren't cheap.

Regards,
Ed.

[bad robot] 25/3/2015 09:25

Bad Robot 19 Mar'15 - 08:27 - 232 of 244 0 0 edit

Bought this just pure gambling yesterday. Pyaing off .

IN BR casino, he always wins

[fenseal3] 25/3/2015 09:02

Rerate to 1p would give this a MC 10m, cash 7m assets 20m, this is a fantastic read, look through the RNS's, massive shake up and cost cutting, their flagship asset is the Gazelle block.

From Jan 2015


A message from the Managing Director - Grégory Stoupnitzky

The last 3 months have been characterised by a material decline in the price of oil, and an adverse operating environment for companies in oil, gas and related industries. This has led to a severe change to the valuation of the sector; it is particularly punishing for small cap, non-producing, and exploration companies. Many in the industry, regardless of size, are reassessing capital allocation to projects, cutting operating expenses and focusing on essential activities.

In this context, during early December the Board, in conjunction with management, initiated a review of our business, including our strategy, with the goal of securing our core assets and significantly trimming our new business initiatives and operating costs, including headcount. As a result of this review, Rob Shepherd and Andrew Rose resigned from the Company as Managing Director and Finance Director respectively, and I was appointed Chief Executive Officer. Together with Jay Smulders, Technical Director and Jeff Durkin, General Counsel, we have assumed day to day management of the Company. Ron Nelmes, Financial Controller, will be in charge of financial matters, reporting to me. Despite the difficult decision, Rob and Andrew remain committed and aligned with the Company. They will work through their notice periods ensuring the smooth transition and in support of key initiatives.

Our goals are clear: lower budgeted G&A, renewed focus on our key asset, and accelerated pace in maturing of a handful of other potential strategic and project opportunities.

During the quarter we made significant progress with the Gazelle project: following a number of meetings with representatives of the Ministère du Pétrole et de l'Énergie, the Government of Côte d'Ivoire approved the Field Development Plan that had been submitted by Vioco and soon thereafter, on December 18(th) , the President signed a decree granting an Exclusive Exploitation Area for 25 years covering Gazelle. This has also triggered an option for Petroci, Vioco's partner in the CI-202 Block, to elect to back in for an additional 16% paying interest by Q2 2015. These developments have been matched in parallel with a renewed effort by CI-Energies to plan for their own project sanction in relation to the planned power plant co-located in Grand Bassam next to Vioco's onshore gas processing plant. We expect to see specific plans and timetable in respect of the power plant project to advance the upstream component of the project to sanction, currently projected for Q2 2015, with a 15-month construction period to first gas. Importantly, despite the oil price weakness, the economics of our project remain robust and relatively unchanged.

There is no material news in relation to Accra Block which retains optionality for us.

As previously disclosed, the Vioco team has continued to mature the Hippo North prospect which is located 7 km from Gazelle in shallow water of 70m. Hippo North is now ranking first among others to deliver potential additional gas resources and while we are not obligated to drill this prospect we, and our partner Vitol, are increasingly convinced that a possible add-on to the drilling campaign for Gazelle will significantly decrease the costs for the well. If successful, this prospect will extend the production profile on Gazelle by feeding through the existing facilities being planned for the project. The Vioco team has continued to invest time and effort to identify prospects in and adjacent to the Block that could form part of a regional gas play with substantial liquid upside, again revolving around core facilities about to be constructed in Grand Bassam.

In addition, both the Environmental and Social Impact Assessment and land acquisition for the Onshore Power Plant are progressing to plan.

In summary, we are taking difficult but necessary measures to minimise expenditure, reach project sanction as rapidly as possible, and leverage the existing possibilities closer to our Licence Area. In conjunction with a small number of strategic initiatives, we are focused on weathering the macro storm and emerging in a strong position.

Grégory Stoupnitzky

Managing Director

[fenseal3] 20/3/2015 11:32

MC 3.7m..cash from December below, don't know where this is going but i will keep my eye on it.


Net increase (decrease) in
cash held (817) (3,048)
Cash at beginning of quarter/year
1.20 to date 7,470 9,430
Exchange rate adjustments
1.21 to item 1.20 368 639
----------
1.22 Cash at end of quarter 7,021 7,021
----- ----------------------------------

[tomboyb] 20/3/2015 11:09

I think a few have cleared before financial yr end - Tax losses are quite impt so need to be used up wisely and i suspect fairly heafty losses -

However it also seems to me that there are 3 sellers of stock and we may eventually see 3 sell RNSs for which we have had 1 and another for the collated buy of almost 200 mill shares -

[fenseal3] 20/3/2015 08:30

Hi guys got told to look in here today, major churning going on, is this the case they have 7m cash and assets worth over 20m, doing some research today and will be looking at maybe buying a few if thats the case...massive volume yesterday and they are looking forward.

[gwr7] 20/3/2015 08:08

You could argue that Artemis are clearing the books before the financial year end but you could also argue that having dumped after holding through so much dire news the game is just about up.

[tomboyb] 20/3/2015 07:47

Morning -

I think there is a triplet of sellers - amalgamated to one large trade - total equity 18-19% - This RNS inidcates the one seller.

[alexios1201] 19/3/2015 13:05

Artemis dumpedWho bought is the Q

[tomboyb] 19/3/2015 12:25

Yes - I noticed someone picking up 200million shares -

That effectively looked like the overhang gone as we await RNS - That is 18% total equity and peeps will always say pump dump regardless -

RNS out - it looks like management do not know who has bought!

[bad robot] 19/3/2015 12:18

really? that's why no one posting here

Only me and tommy, since yeterday


apfindley 19 Mar'15 - 11:58 - 234 of 235 0 0

Pumped and dumped by the regular co-ordinated team.

[12bbn] 19/3/2015 11:59

Africa!!! corrupt corrupt corrupt as hell look at AFR

12bn 18 Mar'15 - 17:40 - 7789 of 7806 0 0

I think that the TI deal is done and dusted and we are already producing 50,000 BOPD from TI alone. Neil is waiting to surprise us all and catch the shorters out, he will hit them hard. Pile in now with every penny you can raise because this will be a multibagger by Friday!

* We are immune from WTI prices as we sell our oil for $200 per barrel to the Trinidad Government
* We can open the taps and produce more than Shell and BP combined but Neil does not want to get sand in it
* Instead of Debt like other oil companies we just do an issue daily and yet it does not affect the price as IIs love us
* The Trinidad government said we can operate tax free, in fact they will pay us tax!
* Neil Ritson is down for the next nob-el peace prize
* Our oil drilling machines are better than any one else's, made of a composite alloy that Neil invented before breakfast

Get in now before the rest of numpties on the LOSER threads realise! This is going to be £10 by Christmas!!!!!

[apfindley] 19/3/2015 11:58

Pumped and dumped by the regular co-ordinated team.

[tomboyb] 19/3/2015 08:30

I suspect the 200mill holder will show his hands soon as will the seller of the stock -

[bad robot] 19/3/2015 08:27

Bought this just pure gambling yesterday. Pyaing off .

IN BR casino, he always wins

[bad robot] 19/3/2015 08:12

Here we go 30% up today .Not bad punt from The One

[tomboyb] 18/3/2015 15:04

Most of that overhang if not all taken up by the 198mill sell or buy -

Online limits have been tight and 750k max - Suggests that someone has acquired the stock - 18% roughly but whom is the question - Over the years fallen from 20p ish to 0.2p -

[bad robot] 18/3/2015 10:31

a few hundred squids could double easily

[lex artis] 18/3/2015 10:28

MMs will be moving it up again, then the rally will start