Clontarf Energy Share Discussion Threads

[sate_uk] 06/6/2017 13:52

Where is the PING???

[ajj2003] 06/6/2017 13:41

Clontarf wins deepwater acreage in Equatorial Guinea
Written by Alan Shields - 06/06/2017 12:36 pm

Clontarf Energy (AIM: CLON) has been awarded more than 5,000 km2 of undrilled deepwater acreage in Equatorial Guinea.

Block 18 covers approximately 5,056 km2 with several play types.

Clontarf Energy’s focus will be on working on large structural and or stratigraphic trap targets.

The bid terms include Clontarf Energy with 70% of production interest, 65% oil cost recovery, a $150,000 signature bonus, standard commerciality and production bonuses normal land taxes.

The production royalty is a standard 13%, rising to 16% on production over 100,000 barrels of oil daily.

The contractor interest starts at 80% through the first 40 million barrels of oil production, and falls according to a standard formula until output reaches 200 million barrels.

The initial work programme is three years to include seismic acquisition plus one well if drillable targets are identified. The second sub-period is 2 years, with two allowable extensions of one year each accompanied by a work programme.

Director David Horgan said: “Clontarf has long been interested in Equatorial Guinea’s deep-water potential, which is among some of the most prospective in West Africa.

“EG-18 is part of the Northern Rio Muni Basin, which Clontarf has analysed. Our initial interest is in diverse Cretaceous sands plays, particularly a distal fan and turbidite channels visible on historic seismic.

“Until the 2017 Bid Round, Equatorial Guinea was largely perceived as the bailiwick of US majors and Chinese National Oil Corporations.

“For the first time, the 2017 Bid Round sought new ideas and fresh approaches from the diverse community of oil independents, who have delivered so much elsewhere in West Africa.

“The fine detail is expected to be finalised in early meetings scheduled with the Equatorial Guinea authorities.”

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hxxps://www.energyvoice.com/oilandgas/141267/clontarf-wins-deepwater-acreage-equatorial-guinea/

[hope67] 06/6/2017 13:26

hxxps://www.thisdaylive.com/index.php/2017/06/06/exxonmobil-taleveras-ophir-win-eguinea-oil-blocks/

Ejiofor Alike with agency report

United States oil giant, ExxonMobil, Nigeria-based Taleveras, UK’s Ophir Energy and Clonterf Energy have been announced winners of Equatorial Guinea’s oil acreages, after the latest licensing bid round held by the central African country.

Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Obiag-Lima made this known at a press conference Monday during the African Oil and Gas Conference held in Cape Town, South Africa, saying ExxonMobil has signed a Production Sharing Contract (PSC) with his country for oil acreage EG-11, effectively leading the list of acreage winners during the licensing bid round.

UK-based Ophir Energy won the Block EG-24, Taleveras, founded by Mr. Igho Sanomi, picked the highly potential Block EG-07, while Clonterf Energy landed Block EG-18.
According to the minister, the country’s 2016 open and competitive bid round was declared a success by industry analysts and watchers.

[h2owater] 06/6/2017 13:19

Sustained exploration success has been a hallmark of Equatorial Guinea's upstream oil and gas business, with 48 total discoveries and a drilling success rate of 42 percent. That's almost double the global average.

[elmfield] 06/6/2017 13:06

I guess dicey cake etc are all out now,
Good!
Now the fun can start as more good news is a strong possibility.

[janestone] 06/6/2017 13:00

penny finish

[letmepass] 06/6/2017 12:53

Looks like a lunchtime move again

[falia] 06/6/2017 12:34

TIR GUYS, NEXT TO GO UP

[babbler] 06/6/2017 12:09

£4m mcap and people call it p and D. Lol. What is the mcap of other aim minnows with no licence?

[twaintwix] 06/6/2017 12:04

This will top 3p this week. More news re multinational partner will send it through the roof. city awash with rumours some mind boggling names have been mentioned looks like the Clontarf road mafia have hit it bigtime at last! And not before time.

[gerhart] 06/6/2017 11:54

Letme, WEB always moves. It's not called the Wibbley Wobbly Web for nothing. Lol

[letmepass] 06/6/2017 11:51

WEB moving

[aimmafia] 06/6/2017 11:41

Long way to go here I see a steady decline to the 0.55 range as a days finish

[h2owater] 06/6/2017 11:21

Clontarf Energy PLC (LON:CLON) doubled in value as it was awarded the offshore Block 18 (EG-18) in the Equatorial Guinea 2017 bidding round.David Horgan a director at Clontarf said it was huge coup for the oil independent."Until the 2017 Bid Round, Equatorial Guinea was largely perceived as the bailiwick of US majors and Chinese National Oil Corporations."For the first time, the 2017 Bid Round sought new ideas and fresh approaches from the diverse community of oil independents, who have delivered so much elsewhere in West Africa".The block covers more 5,000 sq km of undrilled deep water acreage with several play types and the focus will be on large structural and/or stratigraphic trap targets, Clontarf said.The company will have a 70% production interest, 65% oil cost recovery, a $150,000 signature bonus, standard commerciality and production bonuses and normal land taxes.Production royalty is a standard 13%, rising to 16% over 100,000 barrels of oil daily with profits tax at 35%.The initial work programme is 3 years that includes seismic acquisition and one well with possible extensions."Clontarf has long been interested in Equatorial Guinea's deep-water potential, which is among some of the most prospective in West Africa," Horgan added."EG-18 is part of the Northern Rio Muni Basin, which Clontarf has analysed. Our initial interest is in diverse Cretaceous sands plays, particularly a distal fan and turbidite channels visible on historic seismic."

[letmepass] 06/6/2017 10:58

Falia check out WEB

[aimmafia] 06/6/2017 10:54

Maybe a spike maybe not. But if it finishes 70% up I wouldn't be surprise which would be a 50% loss on your investment from this point

[gerhart] 06/6/2017 10:54

The optimism is a joy to behold after so a famine of good news!

But anyone who can’t afford to lose a lot should be careful. It will be a very, very long time before seismic, never mind a drill is anywhere near this. It’s also deep water, and with today’s oil price there are not many, even big players, looking to risk it at moment. Meanwhile do be aware, understandably, the Co may go for a quick fundraising/placing.

Can anyone explain why it is block 18, when company said in last report that they were after blocks 21 or 23. (not trying to being negative or deramping!! But is it a case of failing to get 21 or 23 and no one else wanted 18?)

(PS: completely ignore nonsense that taks about the value of XX number of barrels of oil to Clon. Will be fantasy, perhaps forever)

[amrishbhim] 06/6/2017 10:53

Aimmafia, do you call this a spike.

[thehitman1] 06/6/2017 10:50

I am out with my 22%, thanks all.

[amrishbhim] 06/6/2017 10:49

Target price for this for short term as to the RNS today is 2.5p -3p

[aimmafia] 06/6/2017 10:49

Word of advice to anyone new. Dont buy in now on the spike

[letmepass] 06/6/2017 10:44

Bid just jumped... Hold on to the shares going over 1p today

[h2owater] 06/6/2017 10:40

What's the value of 100barrels per day?