Azonto Petrol. Share Discussion Threads

[agbad] 04/6/2014 08:57

Seen that House but only 3 trades of about 1 million showing on ADVFN trade board. Showing as 3 buys (one at 800,000). Hell of a tanking yesterday. I'm down more than 50% now. Nearly selling but my daughter says sh*t or bust. So will hold on to see if they get this gas pipe agreed in H2. They only have enough cash until this time next year. Surely couldn't issue more shares - half a penny here we come!

[house atreides] 04/6/2014 08:22

big volume spike on ASX at 29million

[house atreides] 04/6/2014 08:18

somethings up.

volume of 29million down under.

[flyingbull] 31/5/2014 23:30

The June oil stock challenge is still on....deadline for entries is midnight on Sunday. Good luck. fb

[nesty1760] 28/5/2014 23:30

AZO was always going to be a long term hold. However you do have directors buying etc and some progress, but does look they will run out of funding in 2015?

Just a hold for me!

[house atreides] 28/5/2014 18:20

hard to believe they classified this RNS as not price sensitive down under...

[gwr7] 28/5/2014 10:47

I can't see how things add up here. They're talking about possible explo wells but they can only cover their admin costs to the end of this year and there is no prospect of income until mid 2016 (assuming no further delays to FID for the small Gazelle development).

[agbad] 21/5/2014 18:07

Another large buy by one of the directors. Bodes well for the future.

[duxy786] 16/5/2014 01:02

Looking good for a move up. Hope y'all topped up.

[agbad] 15/5/2014 11:41

Good to hear from you again Treacle. I don't post that much either although was on LSE last night. Don't know if you still watch the LSE boards. If not Princess Kim is no longer holding but she keeps an eye on things. She has bought GWMO at an average of 1.15. So hope it does well for her. I think we can look forward to a lot of good news from Rob over the coming months. I might even recover my losses pretty soon! Anyway the pub beckons so will chat later.

[treacle32] 15/5/2014 11:02

Hi Candy - just not been posting too much. AZO was always a long term hold as Gazelle gets developed and work is undertaken on the CI-202 block.

As we know from the last over 100% rise to a peak of 2.90p when it moves it'll move quickly - with the directors buying again and in size the free float has been reduced more.

[agbad] 15/5/2014 10:57

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!

[treacle32] 15/5/2014 10:30

On the move here again - newsflow on Gazelle should be in H2 this year imo.

[jonno1] 13/5/2014 09:54

hxxp://www.oilvoice.com/n/Azonto_Petroleum_updated_report_for_Block_CI202_Cote_dIvoire/7e3949e28148.aspx#gsc.tab=0

Azonto Petroleum updated report for Block CI-202, Cote d'Ivoire

Tuesday, May 13, 2014
TagsCôte d'IvoireAfrica AIMOperations UpdateSeismic
The gross field contingent resources targeted by the proposed FDP are 47 bcf of gas plus 0.9 mmbbls of condensate on a 1C basis, and 92 bcf of gas plus 1.8 mmbbls of condensate on a 2C basis.
Azonto is pleased to announce the completion of an updated Resources Report (also known as a Competent Persons Report or "CPR") for Block CI-202 offshore Cote d'Ivoire prepared by RPS Energy Services Pty Ltd ("RPS") on behalf of Vioco Petroleum Ltd ("Vioco"), Azonto's 35% owned affiliate, as operator of the block. A copy of the CPR has been uploaded to the Azonto website www.azpetro.com.

The new CPR updates the previous CPR for Block CI-202 dated 15 January 2013, also prepared by RPS, specifically in relation to the Gazelle Field following further analysis of the results of the 2012 drilling programme and the 2012 3D seismic data, and in light of the revised Field Development Plan ("FDP") submitted in January 2014. The new CPR includes for the first time production profiles for the Gazelle Field and economics based on the terms of the new Production Sharing Contract signed in November 2013.

The gross field contingent resources targeted by the proposed FDP are 47 bcf of gas plus 0.9 mmbbls of condensate on a 1C basis, and 92 bcf of gas plus 1.8 mmbbls of condensate on a 2C basis. The resources are classified as contingent since the proposed FDP has yet to be approved and final investment decision ("FID") on the project has not yet been taken. The 1C, 2C and 3C resources net to Vioco are shown in the table below, both with and without PETROCI's back-in for an additional 16% interest (at its election). Vioco's current participating interest of 87% would fall to 71% should PETROCI exercise its back-in option. PETROCI is the state owned oil and gas company in Cote d'Ivoire.

[doji star] 13/5/2014 09:28

...and another 8% today.

oddly traded share this.

AUS price is equivalent to 1.38p - 1.44p now.

[house atreides] 12/5/2014 08:23

on the turn

up 27% in Oz

[agbad] 09/5/2014 00:58

Vote of confidence from the Directors. Nearly 9m bought. Hopefully will give the share price some momentum.

[agbad] 01/5/2014 12:10

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

[sammie25] 15/4/2014 13:54

presentation today

hxxp://www.rns-pdf.londonstockexchange.com/rns/8751E_-2014-4-15.pdf

[minho] 28/3/2014 19:48

I wonder what the BOD are doing? I might give them a ring.AGBAD, Look at some of the resent New Petrol stocks ? I dont give tips but let me know what you have had a look at. I thought most had bailed out months ago after the Loan from VITOL.

[agbad] 27/3/2014 22:46

minho - I'm down £15k on this. Hang in for a buy out from Vitol. No wonder I drink.

[minho] 27/3/2014 19:48

All the director buying as well , they were certainly in the know big time. What is the cash burn? When will the income arrive? A take over could be on the cards is the only hope left here. They fooled me, I must be slipping. No loss. though..

[gwr7] 26/3/2014 11:51

Just found this in the operations section of the Azonto website:

The Starfish Prospect well was spudded in June 2013 and is currently drilling ahead. The Starfish Prospect has mean prospective resources of 665 MMbbls and a 20% chance of success.

C'mon Rob, wakey wakey...

Today's RNS forgets to mention Azonto only have a 5.85% effective interest in Ghana. People may not be aware of this as it is hidden behind the obfuscation of not one but two JVs - Azonto Ghana and Afex Ghana. This reminds me of the days when Bruce Burrows and associates cynically papered over the cracks. I thought it was all change, new name, new broom etc.?

Anyway the RNS does say they're looking to bring in new partners which would presumably dilute their meagre interest even further so Rob's gushing excitement sounds more like desperate clawing for his options. I suppose they need to dilute because they haven't enough cash due to the give away I mean deal Rob struck with Vitol.