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|Oil & Gas Producers
Real-Time news about Azonto Petrol. (London Stock Exchange): 0 recent articles
|johndee: Looks like someone sold just before the coming rise in the share price. Must have really needed the cash or were on a T10.|
|tradingstock247: We are sooooo close to a major breakout. A push above 0.7 cents and this thing will fly. 2.5 cents is a possibility for what it's worth. There is a clear catalyst and that is Gazelle being properly valued (a share price of 2.5 cents would still only value Azonto's share of Gazelle at $20m).
Downside should continue to be limited to cash backing, 0.4/0.5 cents, a very nice risk/reward trade off.
|tradingstock247: Azonto Petroleum Ltd LON:AZO an Australia-based oil and gas Company has jumped 17.96% during the mornings trading session. The number of shares traded was 4.83 million which over twice the daily average of 1.8 million. The Share price opened today on 0.28 GBX and has traded in the range of 0.27 to 0.32 GBX. The 52 week low is 0.15 while the 52 week high is 1.37 GBX.
|h2owater: ? ASX - By Stock (Back) 18/03/15 18:10http://hotcopper.com.au/threads/news-these-were-wednesday's-most-traded-stocks-on-the-asx.2478963/page-18?post_id=14980291#.VRKRdBiQGrUFirstPrev18NextLastProfileFollowSchumacher717 posts. Date:25/03/15Time:19:09:02Post #:14980291IP:118.92.xxx.xxxAside from the fact that Rob has left the building - think we are now heading in the right direction as these guys running the company needed to go and ring some new leadership on board which is having a positive effect on share pricethe other reason is this : IMO from 15th AUGUST last year- ignore that Ghana is now divested thank goodness!The self-coined "longest established start-up junior", Azonto Petroleum's (LON:AZO) aim is to start producing gas from its Gazelle project offshore Cote D'Ivoire by 2016.Azonto is emerging from a difficult 12-18 months in which it has renegotiated its agreement with the Cote D'Ivoire government, extracted itself from an extraneous rig contract, and taken on a new joint venture partner in Vitol. Cote D'Ivoire's GDP is growing by 10% annually and it is increasingly looking for domestic energy supplies, so demand seemingly won't be a problem.February 25th 2015Two hundred and fifteen is a key year for Azonto Petroleum, with the FID on its Gazelle project in Cote d'Ivoire looming mid-year. The company, which is dual listed on AIM and the ASX, is hunkering down until then, shedding new business initiatives, cutting head count and reducing G&A in order to minimise cash burn until a decision is made on whether to move into full development.This has been a painful process, admits new boss Grégory Stoupnitzky, with the company headcount shrinking from 19 to 13 and managing director Rob Shepherd and finance director Andrew Rose, who together had done so much to clean-up the troubled company, resigning in January."We all had ambitions a year ago that are no longer realisable in the current environment and so we had to refocus virtually all of our efforts to crystallise value from our primary asset in Cote d'Ivoire, and a five man executive team was not necessary for this really concentrated effort," says former business development director Stoupnitzky, who will now run the company with technical director Jay Smulders, who has an impressive track record of maturing and delivering gas projects for Shell International and Tullow Oil, and general counsel Jeff Durkin.Stoupnitzky, a former investment banker with 25 years of experience with stints at Bear Stearns, Morgan Stanley and Renaissance Capital, stressed that Shepherd, familiar to many oilbarrel.com regulars for his straight-talking and entertaining presentations at past conferences, and Rose were still shareholders in the group and were working out their notices. "It was very amicable," he tells oilbarrel.com. "It's been painful but it provides us with a more nimble G&A budget and gives us runway room within this calendar year."The AIM-quoted company, which had A$7 million in cash at its last quarterly update, has seen its share price under increasing pressure over the last year as oil price woes and ongoing delays at Gazelle took their toll. Azonto has a 35 per cent stake in Vioco Petroleum, which in turn holds an 87 per cent operating working interest in offshore Block CI-202, which hosts Gazelle.Vioco's working interest will be reduced to 71 per cent if state-owned Petroci exercises its 16 per cent back-in right, which will be decided in Q2 2015. Vitol E&P Ltd holds the remaining 65 per cent of Vioco.The field development plan for the field has been approved by the authorities and in December the president of Cote d'Ivoire signed a decree granting a 25-year Exclusive Exploitation Area for Gazelle, a signal that this gas project is being backed at the highest levels.In parallel, state-owned CI-Energies is working towards project sanction for the planned power plant co-located in Grand Bassam next to Vioco's onshore gas processing plant. Following project sanction around mid-year, there would be a 15 month construction period to first gas in H2 2016."We are continuing our discussions with CI-Energies to finalise the gas sales agreement, which is more or less negotiated and is based on a gas price formula agreed with the Ministry of a 15 per cent return based on our P90," said Stoupnitzky, stressing that this ensures robust economics even at low oil prices. Indeed, the low oil price environment may yet work in Azonto's favour as it should reduce the price-tag on the development as the company will be contracting in a soft market."Other than the early engineering contracts, we haven't ordered long lead items so we will really benefit from this opening of the market," adds Smulders, who left Tullow Oil to sign up for what he calls the "start-up excitement" offered at Azonto. "In the next four weeks we should get a handle on how much costs have gone down on this project."Further ahead, there's upside on the licence, including the nearby Hippo North prospect, just 7 km from Gazelle. This could be drilled as part of the development drilling campaign at Gazelle, although there is no obligation to do so. There are additional prospects and discoveries on the block, as well as on adjacent blocks, which raises the prospect of a wider regional gas play around the hub facilities being installed at Gazelle and onshore at Grand Bassam.The company is working closely with its state-owned partners in Cote d'Ivoire, ensuring it has French speakers on the ground to help keep the momentum towards FID. "Francophone Africa is culturally different, speaking the language is not an option it's a requirement," says Stoupnitzky, a native French speaker. "It's a mindset. You step into a different world between Nigeria and Cote d'Ivoire."Investors in the £2 million market cap company will be keen that this slimmed down, single-focus French-speaking management team now delivers and can get Gazelle up and running.0 Bookmark and Share Reply with quoteAPY (ASX) Price at posting:1.0¢Sentiment:BuyDisclosure:HeldLast edited by Schumacher: Today at 19:11|
|agbad: Hi Treacle - thought you may have emigrated to Australia or something! Yeah things seem to be coming together here again at long last. I agree with you re Gazelle. Would imagine a gas price will be agreed with the government very soon then won't take long for the go ahead. The recent CPR should give the banks confidence to fund the project. Gas on shore in 2016 according to the BOD. They need it to collect their bonuses. For 100% bonus, share price has to hit 9 cents (5p) before Dec 2017. Don't think we'll have to wait that long!|
|agbad: Read the annual report in the wee small hours last night. At least the BOD are upbeat although investors (if any left) obviously remain to be convinced given the dire share price performance over the last 6 months. I'm caught with nearly 2m of these but not willing to sell at a substantial loss. Only problem is AZO have very little cash left. This could go under if funding not found. Can't imagine they would issue more shares at less than 1p. Only crumb of comfort they have Vitol on board with probable access to banking facilities and there are a couple of large institutional investors will big holdings that won't allow this to go under (I hope).
On a more positive note, the BOD have shares granted but don't get them until certain targets and share prices hit. These kick in at 5, 7 & 9 aussie cents. Not great but hell of an improvement on 1p. They also must get gas onshore before DEC 2017. They seem confident they can do it. A 1,000,000 buy went through on ASX last night.
Anyway I'm away to the pub. GLA|
|treacle32: Not sure how true this is on the ASX listing but has changed significantly on estimates on price.
Share price forecast
The 2 analysts offering 12 month price targets for Azonto Petroleum Ltd have a median target of 30.50, with a high estimate of 48.00 and a low estimate of 13.00. The median estimate represents a 1,120.00% increase from the last price of 2.50.
|agbad: I'm fine thanks. A few more months will fly in and hopefully you will be sorted.
I wonder what we have in store with AZO in the coming months. We might get an RNS before results in March (and a new website - taking their time!). Some took flight after the presentation but I reckon they have no patience and flit from share to share trying to make a quick buck. I've tried that and never made any return in the majority of cases. Would be nice to get an RNS saying they have secured funding at favourable rates although I imagine they will need to sign a contract with the government re gas prices in the first instance.
I feel more comfortable now that the Board say their aim is to increase shareholder value. Of course they can't guarantee it but they will work their backsides off so they can exercise their options. From memory they must have gas flowing and the share price must hit $0.09 within 4 years to enable them to exercise 100% of their performance rights.
Not spectacular but investor sentiment could change very quickly and propel the share price upwards very rapidly. If not I'm prepared to wait as long as it takes. Too much invested to bail out of this. 300% profit in 4 years time would suit me very well.
Good luck to all that maintain the faith!|
|treacle32: 19 December 2013
ASX Code : APY
AIM Code: AZO
Azonto Petroleum Limited
("Azonto" or the "Company")
Notification of Director's Interests
Following the approval of Performance Rights Plan at the 2013 Annual General Meeting on the 22 November 2013, the grant of Performance Rights to Directors has been made on 18 December 2013 as detailed below:
Director Total Number of Performance Rights
Mr Neil Hackett 6,501,179
Mr Andrew Bartlett 11,632,776
Mr Gregory Stoupnitzky 10,037,820
Mr Andrew Sinclair 6,501,179
Mr Robert Shepherd 21,670,596
The actual number of Performance Rights which Directors could receive under the Performance Rights Plan will be subject to the achievement of stretching strategic and share price related performance targets. Full details of the performance targets are contained in the 2013 Notice of Annual General Meeting.|
Azonto Petrol. share price data is direct from the London Stock Exchange