Clontarf Energy Share Discussion Threads

[lippe] 27/9/2018 09:27

"Clontarf plans to ride this wave".

Waikiki Beach springs to mind, heaven forbid ..

[fenners66] 27/9/2018 09:15

Accumulated LOSSES £ 12,564,000 CLON

Such success - add to that the £21,207,000 at PET

add to that £3,690,000 at BOD (up until last Dec)

add to that € 3,763,000 at CON


All adds up to about £40MILLION of losses and NO sales........ over what a decade....?

[fenners66] 27/9/2018 08:36

Apologists and gamblers will no doubt not care though.

"During the six months to 30 June 2018 the Group incurred expenditure of GBP114,607 on evaluating licences in Equatorial Guinea. An impairment charge of GBP114,607 has been recorded by the Group in the period in respect of those licences. "


So added an impairment in FULL against the £114,607 added - what does that actually tell you ??

[fenners66] 27/9/2018 08:32

Equatorial Guinea
6th June 2017

" 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 3 years (extendible) 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.

Profits tax is 35%"

So lots of working details provided - as if they would ever drill......

Then Today :-

"we could not justify this substantial up-front expenditure for limited licence access on terms which were by then in excess of market rates for this standard and vintage of data.

Accordingly, we made a counter-proposal which has not been accepted by the authorities. "



"COULD NOT JUSTIFY"
"COUNTER PROPOSAL...NOT BEEN ACCEPTED "


What a surprise , same old method sell the people a story , almost literally given the associated fund raising and then...... nothing ....... however back to Ghana.......


"Clontarf continues to monitor ways to create shareholder value. As explorers, we continue to look at new projects and at areas that are becoming available for exploration. The Equatorial Guinea award emerged from these efforts."


And presumably gets submerged again !

[exile] 27/9/2018 08:11

CURRYPASTY

26 Sep '18 - 22:08 - 8271 of 8274
0 2 0
don't buy any shares then


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I will take your advice.... Thanks !

[currypasty] 27/9/2018 07:22

Following clarification of the applicable legal regime and fiscal terms, and the establishment of a National Lithium Company (YLB) under the Bolivian Ministry of Energy in 2017, we have re-established our interest, and are in initial discussions on a possible joint venture to study the second largest salt-lake lithium deposit worldwide.



JV to fund going forward

[elmfield] 26/9/2018 22:10

Absolutely!

[currypasty] 26/9/2018 22:08

don't buy any shares then

[leader11] 26/9/2018 22:02

Look at other lithium explorers and miners long time to get permits and the environmental process is time consuming.

[leader11] 26/9/2018 22:00

But they wrote off the Bolivian assets

[elmfield] 26/9/2018 21:48

Have you heard of a farm in?

[leader11] 26/9/2018 21:34

Lithium is not cheap and easy more funds needed for dat

[leader11] 26/9/2018 21:33

£500,000 will not even get them a rig.

[elmfield] 26/9/2018 20:15

😂!
Mind you I would be happy with that!
Lithium and oil,
Who knows?
Er Fenton does,😂ԅ14;😂

[nicky21] 26/9/2018 19:10

on another bb somebody is predicting a price target of 32p.

[smraynot] 26/9/2018 17:46

I think we have a multi bagger here. Love the latest news stream and think we have certainly turned the corner. My target is 5p+ in the short term with the right RNS'S.DYOR and good luck to all.

[cudmore] 26/9/2018 12:09

Someone building a stake here. I wonder who??? 🤔

[urigem] 25/9/2018 12:09

Big volume again

[lippe] 25/9/2018 12:04

technically they are both skint ...

[urigem] 25/9/2018 11:28

Perhaps I won't, clon to buy 30 percent stake?

[fenners66] 25/9/2018 11:23

Not odd, PET has run out of cash

[urigem] 25/9/2018 11:05

might buy some pet as well

[urigem] 25/9/2018 11:04

RNS Today

Ghanaian Tano 2A Petroleum Agreement

The Company announced on 17 September 2018 that the Directors believed that all outstanding issues had been resolved with the Ghanaian National Petroleum Commission ("GNPC") on our Tano 2A Block. The signed Petroleum Agreement is now being sent to the Cabinet and all legal proceedings have been withdrawn.

After a period of slow progress, Ghana's current NPP Government has galvanised the licensing effort. The administration is pro-development, and actively reviewing historic Petroleum Agreements, with stated focus on early exploration, discoveries and output. During 2018, the Ghanaian Ministry of Energy and the GNPC considered the current re-application by Pan Andean Resources Ltd (30% Petrel, 60% Clontarf Energy, 10% local interests) over the original Tano 2A licence block acreage in the prospective Tano Basin, West Africa.

There is a mutual desire to complete the ratification process. Our strong preference is to honour as far as possible the terms of the existing signed Petroleum Agreement, adjusting the revised co-ordinates if necessary.

Buy back and cancellation of shares

During the period, the Company reached agreement to buy back 16,747,368 shares for a nominal sum (subject to shareholder approval, which was secured at the Annual General Meeting in July 2018). The shares were subsequently cancelled, thereby reducing the number of shares in issue by approximately 17%. These shares were part of the initial consideration for the acquisition of certain interests in an early stage oil opportunity in the Wasit province of Iraq in August 2013 which did not proceed to spudding.