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AZO Azonto Petrol.

0.155

0.00 (0.00%)

30 Apr 2024 - Closed

Delayed by 15 minutes

Azonto Petrol. Investors - AZO

Share Name	Share Symbol	Market	Stock Type
Azonto Petrol.	AZO	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	0.155	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
			0.155	0.155

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Posted at 25/5/2015 15:59 by lak342 Spread Betting and CFDs May Magazine edition now online at This month's premium features includes General Election 2015: Whoever Wins, Britain Loses - Interview with David Buik, Zak Mir interviews a City Legend - The Mind of the Master Investor - Small Cap Corner, Tomorrow's Jam Today - FTSE 100, where Next? Read Full Thread Reply
Posted at 25/3/2015 10:45 by 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 Read Full Thread Reply
Posted at 21/8/2014 15:24 by proactivest Interview with MD Rob Shepherd Rob Shepherd, chief executive of Azonto Petroleum (LON:AZO, ASX:APY), talks investors through the company's move away from riskier, deepwater exploration plays. Shallow water and onshore development is now the name of the game as it means cheaper wells that can get money in the bank more quickly. "Line of sight on revenue is an important foundation to build a company on," Shepherd says. Read Full Thread Reply
Posted at 01/5/2014 12:10 by 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 Read Full Thread Reply
Posted at 08/2/2014 15:35 by treacle32 New on website and of recent. 31 January 2014 Analyst/Investor Call Read Full Thread Reply
Posted at 17/1/2014 17:41 by treacle32 SUMMARY A COMPANY TO WATCH New management and board who have delivered individually and collectively : Vitol partnership in Cote d'Ivoire completed PSC in Cote d'Ivoire successfully re-negotiated Successful placing raised US$13m in July, bringing quality institutional investor base Now looking to the future: Active programme with near-term focus on Gazelle project Actively considering new assets/businesses in West Africa, focus on discovered hydrocarbons Read Full Thread Reply
Posted at 17/1/2014 17:32 by 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! Read Full Thread Reply
Posted at 14/1/2014 09:00 by treacle32 14 January 2014 ASX Code : APY AIM Code: AZO Azonto Petroleum Limited ("Azonto" or the "Company") Corporate Presentation Azonto Petroleum Ltd announces that it will be hosting a presentation for analysts and investors today in London. A copy of that presentation will be available to view from the corporate website (www.azpetro.com) at 4:30pm GMT. Read Full Thread Reply
Posted at 13/1/2014 23:54 by house atreides Corporate Presentation for analysts and investors available 4.30pm today from Azonto website. 4.30pm (GMT on the 14th). Close of play. Makes me feel a capital raising is on the way..... I hope its something better..... Read Full Thread Reply
Posted at 11/12/2013 18:18 by house atreides oh and the name relates to a Ghananian dance. apparently. anyone optimistic on the chart turning now ? Seem to remember Boz saying something about potential investors being turned off the name Rialto given the history, wouldn't be surprised to see news released quite quickly now the change is out the way. Read Full Thread Reply

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