Clontarf Energy Share Discussion Threads

[fenners66] 08/6/2018 22:23

Life's too short for investing in a clontarf co. more like.

[eddieohare1] 08/6/2018 15:53

Lollllllllll why would ya waste ur time on this message board if it’s a terrible share??? Get a life lads, get out in the beautiful sunshine & help build up the vitamin D! Life is far too short for all this negativity ;-)

[lippe] 08/6/2018 11:48

Ripe for honest failure ..

The nation is known among foreign businessmen as a poor environment for business and investments.

[lippe] 08/6/2018 11:45

What sort of company tacitly supports a criminal state ...

[lippe] 08/6/2018 09:35

Few countries symbolize oil-fuelled corruption and nepotism more than Equatorial Guinea", wrote Jan Mouawad in the New York Times in July 2009. Its corruption system, according to the Open Society Foundations (OSF), is "unparalleled in its brazenness". This government is controlled by a limited group of powerful individuals who divert most of the country's revenues into their own clandestine bank accounts in other nations. Equatorial Guinea's corruption is so entrenched, scholar Geoffrey Wood has claimed, that it can be classified as a criminal state.

[fenners66] 07/6/2018 09:23

"EITI promotes a standard by which information on the oil, gas, and mining industry is published, requiring countries and companies to disclose key revenue information."

Then Clontarf will fit in with this government perfectly ... there will likely Never be any revenue to disclose !

[lippe] 07/6/2018 07:30

Corruption, poverty, and repression of human rights continue to plague Equatorial Guinea under President Teodoro Obiang Nguema Mbasogo, the world’s longest serving president, who has been in power since 1979. Vast oil revenues fund lavish lifestyles for the small elite surrounding the president, while little progress has been made on improving access to key rights, including health care and primary education, for the vast majority of Equatorial Guineans. Mismanagement of public funds, credible allegations of high-level corruption and repression of civil society groups and opposition politicians, and unfair trials, persist.

In April, police detained the two leaders of the Center for Development Studies and Initiatives (CEID), the country’s leading civic group and a member of the national steering group of the Extractive Industries Transparency Initiative (EITI), creating yet another obstacle toward the government’s stated goal of reapplying for EITI membership. EITI promotes a standard by which information on the oil, gas, and mining industry is published, requiring countries and companies to disclose key revenue information. In September, police arrested an artist whose drawings frequently lampoon government officials; he remained in detention and had not been charged at time of writing.

Equatorial Guinea won a seat on the Security Council beginning in January 2018. Its victory was assured after the United Nations’ African group submitted a non-competitive slate for the annual election of non-permanent council members. Governments and rights groups in a number of countries have initiated money-laundering investigations against government officials.

In October, President Obiang’s eldest son, Teodorin, was convicted by a French court of embezzling more than €100 million (US$119 million) in state funds to purchase a Parisian mansion, exotic sports cars, and luxury goods. In an apparent attempt to shield him from accountability, Obiang appointed Teodorin vice president in 2016, shortly after French prosecutors concluded their investigation. Another money-laundering prosecution implicating government officials is making its way through the Spanish courts, and Swiss authorities started investigating Teodorin for alleged money-laundering activities in 2016.

Economic and Social Rights

Equatorial Guinea is among the top five oil producers in sub-Saharan Africa and has a population of approximately 1 million people. According to the United Nations 2016 Human Development Report, the country had a per capita gross national income of $21,517 in 2015, the highest in Africa and more than six times the regional average.

Despite this, Equatorial Guinea ranks 135 out of 188 countries in the Human Development Index that measures social and economic development. Available data, including from the World Bank, the International Monetary Fund (IMF) and a 2011 joint household survey by government and ICF International, a US firm specializing in health surveys, reveal that Equatorial Guinea has failed to provide crucial basic services to its citizens.

In 2016, 42 percent of primary school age children were not registered as students, the seventh highest proportion in the world, according to UNICEF. Only half of children who begin primary school complete it. And according to the 2011 survey, about half the population lacks access to clean water and 26 percent of children exhibited stunted growth, a sign of malnutrition. Equatorial Guinea has among the world’s lowest vaccination rates; 25 percent of children received no vaccinations at all, according to the 2011 survey.

In August 2014, Equatorial Guinea reaffirmed its commitment to rejoin EITI, an initiative from which it was expelled in 2010, in part due to its failure to guarantee an “enabling environment” for civil society to fully participate in EITI’s implementation. Since then, the tripartite EITI steering committee made up of government officials, oil company representatives, and civil society has met five times, including in April and September 2017.

Freedom of Expression and Association

Only a few private media outlets exist in the country, and they are largely owned by persons close to President Obiang. Freedom of association and assembly are severely curtailed, and the government imposes restrictive conditions on the registration and operation of nongovernmental organizations. The few local activists who seek to address human rights-related issues often face intimidation, harassment, and reprisals.

On April 17, 2017, the police detained Enrique Asumu and Alfredo Okenve, who head the leading civil society group CEID. The two men visited the National Security Ministry after security officers prevented Asumu from boarding a domestic flight, apparently on the ministry’s orders. The minister interrogated them for five hours and then prevented them from leaving. Authorities did not charge them or bring them before a judge, as is required under Equatoguinean law, but, after several days’ detention, conditioned their release on a fine of 2 million CFA francs (US$3,325). Asumu, who has health problems, was released on April 25, and Okenve on May 3, after both paid the sum demanded.

The detentions are the latest in a series of government efforts to impede CEID’s work. In March 2016, the minister of interior, who also headed the National Electoral Commission, suspended the organization one week before the government called for early presidential elections. CEID resumed activities in September 2016, and prior to the detentions high-level officials attended its events and it took part in EITI meetings.

On September 16, state security arrested a political cartoonist, Ramón Nsé Esono Ebalé, whose drawings are harshly critical of President Obiang and other senior government officials. At time of writing, he remains in prison without charge.

[lippe] 06/6/2018 09:05

Sack The Hat, and blame the rest on the gypsy's ...

[fenners66] 06/6/2018 01:41

Return on equity that is "minus" -3013%

What does it take for a nomad etc. to call time on a company?

[nicky21] 05/6/2018 17:23

Guys you really need to check out COPL currently to buy 0.55p.

A potential to be a multi baggar.It tried its luck in Liberia but failed to find any Oil.It is now concentrating in Nigeria.There it has partnered with Shoreline a Nigerian company.
Copl and Shoreline have ventured together and created a company called Shorecan which is owned 50/50 by both.They have bidded for a Licence and are awaiting Approval and Transfer of Asset.
The asset is OPL 226.Five wells have been drilled on OPL 226 by previous operators.A well drilled in 2001 encountered Oil.
When all approvals are sorted then it will drill an appraisal well on the discovery in 2001.Financing for the drilling is meant to be secured for rumours are true.

What is holding the share price back presently is NNPC approval.

$60m was spent on this asset by the previous operator.the potential for Copl is huge.
I know most of you gonna say its another Nigerian scam.IMO i think it is not.Presently we have 2 Nigerian companies listed on the LSE they are Egland Oil and Gas (market cap £250m) and Seplat Petroleum (market cap £850m)

Copl management wants it to be a mid tier oil and gas company ie £250m-£500m

All to play for.Current market cap for Copl is just under £10m.I think its one of the best plays on the LSE.

[fenners66] 05/6/2018 14:02

Down again - has some holder actually read the results then ?

[fenners66] 04/6/2018 15:05

I am still waiting for as story along the lines of some shellfish has absorbed rare earth metals to its shells and these can be mined ..... only in the Bahamas though......

[fiachra] 03/6/2018 17:53

They don't drink much?

[fiachra] 01/6/2018 17:49

Mile Buiochas Currypatsy. Ta se Beag go leor.

[lordz] 01/6/2018 15:41

https://www.ghanaweb.com/GhanaHomePage/business/Tullow-Plc-targets-more-oil-exploration-in-Ghana-656761

[currypasty] 01/6/2018 13:43

fiachra, see note 6 in the results..
"Other payables relate to amounts due to directors' remuneration of GBP980,567 (2016: GBP890,567) accrued but not paid at year end."


so its £90k/year

[fiachra] 01/6/2018 12:27

Curry pasty. How many years remuneration does the nine hundred and eighty thousand represent?

[fiachra] 01/6/2018 12:27

Curry pasty. How many years remuneration does the nine hundred and eighty thousand represent?

[currypasty] 01/6/2018 10:11

and the reason the net assets are only £92k is...

Included in current liabilities is an amount of GBP980,567 (2016: GBP890,567) owed to directors in respect of directors' remuneration due at the balance sheet date. The directors have confirmed that they will not seek settlement of these amounts in cash for a period of at least one year after the date of approval of the financial statements or until the group has generated sufficient funds from its operations after paying its third party creditors.

The Group had a cash balance of GBP433,680 at the balance sheet date. Cashflow projections prepared by the directors indicate that the funds available are sufficient to meet the obligations of the Group for a period of at least twelve months from the date of approval of these financial statements.



in other words, virtually the whole of the liabilities going forward are in respect of directors remuneration. Its therefore in their interest to turn the Company round.