Persian Gold Share Discussion Threads

[pat mustard irl] 15/3/2011 15:15

So acording to John111's fairy tales this extract from the EGM is a pack of lies?
"In Ghana we await cabinet and parliament approval on our 60% held Tano 2 onshore / offshore block. Delay is difficult to explain to shareholders, but as Ghana grows into a major oil producer, pressure grows on how to divide up the oil riches so politicians are slow to make decisions."

What a bunch of shameless liars infest the Clontarf Rd companies BBs!

[mclellan] 15/3/2011 13:29

From johnlll:

- 15 Mar'11 - 13:21 - 3738 of 3739


I was at the PNG meeting. The headline is - no sarnies. Mr Teeling thought that there would only be 1 or 2 shareholders turning up. There were about 15 to 20 I'd say.

As regards the bits affecting PET, David was very positive on Ghana. Here are some snippets, sorry if a bit disjointed, but thought it best to write them down while fresh in my mind, so not necessarily in any order (I didn't make written notes):

1. We no longer need cabinet and parliamentary approval, just parliamentary approval;
2. We are "next" on the agenda for parliament;
3. We have a signed Petroleum Agreement;
4. TAP Oil signed their Petroleum Agreement in 2008 the same time as we did but didn't ask for amendments to terms and their acreage was approved a few weeks ago;
5. 3d seismic only useful if you have specific depths to target. To target a wider range such as 1500 to 5000m, 2d seismic more useful
6. The "2 weeks away" target date given before Christmas still stands. David is told by the Ghanaians that we are 2 weeks away from approval and that it has always been 2 weeks (don't really know what that means, but that's what he said);
7. Fiscal terms in Ghana are superlative. Government take will be 50%. Compare with Iraq where Govt take is 98%;
8. Petrel were invited to the consortium because the Ghanaian authorities thought that PNG didn't have track record/credentials, so PET were brought in to beef up the bid. The Ghanaian authorities took up references and did full due diligence on PET which they obviously passed.
9. We had to sign the Petroleum Agreement quickly so it was in everyone's interest to split between the Clontarf stable of companies

I have a presentation which he handed out. Happy to give copies to anyone who wants. Mr Teeling did say that they would put it up on the website. Mr Horgan mentioned other matters to me in a private conversation but I will not share those on the thread.

[pat mustard irl] 15/3/2011 12:54

That went down like a lead balloon!


Now 5p to sell!

[mclellan] 15/3/2011 12:31

Results of Meetings



Change of name to Clontarf Energy plc



Persian Gold is pleased to announce that all resolutions proposed at a General Meeting of the Company held earlier today in London were approved including a resolution to approve the acquisition by the Company of Hydrocarbon Exploration plc ("HyEx") and a resolution to approve the change of the Company's name to Clontarf Energy plc ("Clontarf Energy"). The Company's ticker will change to 'CLON' following the name change; the Company's ISIN and SEDOL will remain unchanged.



The approval of the resolutions at the Persian Gold General Meeting followed the approval by HyEx shareholders of (1) a resolution to approve the scheme of arrangement to effect the acquisition of HyEx by Persian Gold at a court meeting of HyEx shareholders (the "Scheme"), and (2) resolutions to implement the Scheme at a general meeting of HyEx shareholders.



It is expected that the Scheme will become effective (following High Court sanction) on 5 April 2010. Following this, admission to trading on AIM of the existing ordinary shares in Clontarf Energy (formerly Persian Gold) will be cancelled and re-admission and dealings in the existing ordinary shares and new ordinary shares in Clontarf Energy plc will commence on AIM with effect from 8 a.m. on 6 April 2011.



David Horgan, Managing Director, commented:



"I am delighted that shareholders in both Persian Gold (PNG) and Hydrocarbon Exploration (HyEx) have approved the acquisition of HyEx which leads to the creation of Clontarf Energy, an oil and gas explorer and producer with an exciting portfolio of projects in Peru, Ghana and Bolivia. While the HyEx acquisition, which is subject to final court approval, will not complete until early April, PNG becomes Clontarf Energy (CLON) in a few days.



In Peru, we expect within weeks to complete the formal signing ceremony to acquire two good quality onshore exploration blocks. We have successful experience in creating value with Peruvian oil assets. In Ghana we await cabinet and parliament approval on our 60% held Tano 2 onshore / offshore block. Delay is difficult to explain to shareholders, but as Ghana grows into a major oil producer, pressure grows on how to divide up the oil riches so politicians are slow to make decisions.



Despite the political uncertainty in Bolivia, we like the potential on our two joint ventures. In the coming weeks, we will invest $0.6 million into the El Dorado gas project where we hold a 10% interest with Chaco / YPFB, the state oil company, holding the rest. This investment buys Clontarf back into a producing field. The funding for Clontarf's share of two new step out wells is being funded from revenues currently being generated. We expect net cash to be generated from 2012.



The producing Monteagudo gas field in Central Bolivia is 30% owned by Clontarf Energy with Repsol (50%) and Petrobras (20%) holding the balance. We are attempting to reach agreement with our partners to acquire 100% of the field. If we can we will seriously consider drilling the huge anomaly at depth on the block.



Our plans for Clontarf Energy are set out above. It has been a long road to get to this point but we look forward to the future with interest."



Enquiries:

[yarisverso] 15/3/2011 12:10

Any news from the meeting?

[yarisverso] 14/3/2011 07:31

From the PET BB. Looks like updates coming at the EGM.

Hatto - 13 Mar'11 - 17:03 - 3695 of 3702

From: David Horgan
To: xxxxxxx
Sent: Sun, 13 March, 2011 16:06:45
Subject: RE: My Persian Gold Shares


We will fill you in on Tuesday



From: xxxxxx
Sent: 13 March 2011 08:19
To: David Horgan
Subject: Re: My Persian Gold Shares



Dear Mr Horgan,



I will be coming to the EGM on Tuesday.



Could you tell me if we will hear of confirmation of PNG`s Ghana oil contract. please



Thankyou once again.


==================


Good afternoon everyone.

A non ADVFN poster friend of mine sent this DH reply to me.

Looks like we should be a little wiser in 48 hours time.

[yarisverso] 12/3/2011 08:28

well, I hope some of you will be there to get as much info as possible and report back here. Currypasty, are you going?

[share_shark] 11/3/2011 15:40

Jt would be tranquilized BB.........when he saw my zimmer frame !.

[bongo bwana] 11/3/2011 14:11

Heheheehe

I thought you might attend and tranquilise JT, SS.

And then enjoy a feast of the wonderful after meeting canapes with DH.

[yarisverso] 11/3/2011 12:22

LOL! I thought he was referring to Simon Self aka Pat Mustard. My sincere apologies SS!

[share_shark] 11/3/2011 11:10

I dont think I have been abusing anyone yari......or at least the sober part of me,has not.

[yarisverso] 11/3/2011 10:59

Why would he go to an EGM and hear the truth and expose himself to all the genuine holders he has been abusing for years?

[bongo bwana] 08/3/2011 13:57

SS are U going to AGM?

[mclellan] 08/3/2011 13:07

Bit of volume today.
Anyone going to the PNG EGM on the 15th March in London?

[share_shark] 07/3/2011 15:58

If you feel you wish to google ?.

[share_shark] 05/3/2011 23:12

https://www.hbmarkets.com/persiangold040311/


Persian Gold 04/03/11Persian Gold expects to complete the acquisition of Hydrocarbon Eploration ("Hyex") for £4.56m in early April 2011 subject to court and shareholder approvals. The merged group will be focused on oil and gas exploration in Bolivia, Peru and Ghana. Following a lengthy period of suspension Persian Gold has agreed terms to acquire HyEx. Since the acquisition HyEx has been awarded two exploration blocks in Peru. The board envisage developing the new group as an oil & gas explorer with key positions offshore Ghana.

[yarisverso] 03/3/2011 10:07

lunatic posting

3 posts in 1 minute.

[pat mustard irl] 03/3/2011 10:01

mclellan - 3 Mar'11 - 08:40 - 3232 of 3233


The other Bill is at the Consideration stage, about ten days ago.

.....................


You should be more concerned with 'old bill' he is coming to get you!!

[pat mustard irl] 03/3/2011 10:01

mclellan - 3 Mar'11 - 08:40 - 3232 of 3233


The other Bill is at the Consideration stage, about ten days ago.

.....................


You should be more concerned with 'old bill' he is coming to get you!!

[pat mustard irl] 03/3/2011 10:00

If you buy 14m shares - 7m at 6p and 7m at 2.5p - what was your average price per share?

Was it 6p?

Don't think so!!

[mclellan] 03/3/2011 08:40

The other Bill is at the Consideration stage, about ten days ago.

[mclellan] 03/3/2011 08:36

from jecs- Mar'11 - 19:37 - 3456 of 3470


Ghana

Parliament on Wednesday March 2, passed the Petroleum Revenue Management Bill into an Act despite attempts by some Minority MPs to scuttle its passage.
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The Petroleum Commission Bill should be next but there has been no recent mention of what stage the Petroleum Exploration and Production Bill has reached.