Clontarf Energy Share Discussion Threads

[lippe] 20/1/2019 16:15

Everyone knows that they're getting part of the Erin licence.

Another ramptastic statement without a grain of truth to qualify it ...

[janestone] 20/1/2019 15:42

Fenner

Everyone knows that they're getting part of the erin licence. Which already has a discovery on it.

[fenners66] 20/1/2019 13:38

Please place your head between your legs .....

[lippe] 20/1/2019 13:37

Ladies and gentlemen, this is your captain, Dave speaking.
We have a small problem.
All four engines have stopped.
We are doing our damnedest to get them going again ...

[fenners66] 20/1/2019 13:36

Sorry nicky can you translate the maths on your alternative view there?

[lippe] 20/1/2019 13:31

I would give this a CCC

The Directors of Clontarf (AIM: CLON) are pleased to announce that, in response to exceptional institutional demand, the Company has raised £250,000 (before expenses) via the placing of 47,619,048 ordinary shares (the "Placing Shares") with new and existing investors at an increased price of 0.525p per Placing Share (the "Placing"). The Placing Shares represent approximately 8.18% of the Company's issued share capital as enlarged by the Placing. The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects in areas which may become available for exploration. The Placing shares will rank pari passu with the Company's existing ordinary shares of 0.25p each (the "Ordinary Shares"). Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 27th September 2016. Following the Admission of the Placing Shares, there will be a total of 581,844,829 Ordinary Shares in issue with each share carrying the right of one vote. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.


The Directors of Clontarf (AIM: CLON) are pleased to announce that the Company has raised £400,000 (before expenses) via the placing of 80,000,000 ordinary shares (the "Placing Shares") with new and existing investors at a price of 0.5p per Placing Share (the "Placing"). The Placing Shares represent approximately 14.97% of the Company's issued share capital as enlarged by the Placing. The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects in areas which may become available for exploration. The Placing shares will rank pari passu with the Company's existing ordinary shares of 0.25p each (the "Ordinary Shares"). Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 23rd September 2016. Clontarf Energy plc announces that it has raised £500,000 before expenses through a conditional placing ("Placing") of 71,428,571 new ordinary shares ("the Placing Shares") at a placing price of 0.7p per Placing Share. The proceeds will be utilised for working capital as Clontarf seeks to complete the ratification of the Company's signed Petroleum Agreement on Tano 2A Block, Ghana. Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). Admission is expected to be effective on 12th November 2014. Following Admission of the Placing Shares, the Company's issued share capital will consist of 454,225,781 ordinary shares, with each ordinary share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. This figure of 454,225,781 may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules


Clontarf announced this morning the intended conversion of directors loans, in order to strengthen the Company's balance sheet. Conditional upon admission the Board has issued 70,302,632 new ordinary shares in repayment of these directors loans and accrued remuneration totalling £409,382 and £117,888 respectively ("the Directors Loan Shares") at a price of 0.75p per Directors Loan Share.


Clontarf Energy Plc announces that pursuant to the receipt of conversion notices in respect of loans from its South American lenders, it has agreed to issue 79,767,067 ordinary shares at a price of 0.75p per share in respect of the total principal amount outstanding and interest accrued (the "Loan Shares"). Application will be made for the Loan Shares to be admitted to trading on AIM and it is expected that dealings will commence on 24 July 2014. Following admission of the Loan Shares, the Company's issued share capital will consist of 287,183,511 Ordinary Shares, with each ordinary share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. This figure of 287,183,511 may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.


Clontarf Energy, the AIM listed Oil Explorer, announces announces that it has today issued 7,231,975 new ordinary shares of 0.25 pence each ("Ordinary Shares") in settlement of professional fees. The 7,231,975 Ordinary Shares being issued will rank pari passu in all respects with the Company's existing ordinary shares and will represent 3.5% of the Company's enlarged issued share capital. Application has been made for the 7,231,975 Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur, and dealings are expected to commence at 8.00 am on 20 January 2014.


The Company has raised £2.7 million through a placing of 41,688,171 new ordinary shares (the "Placing") and a subscription for 3,775,500 new ordinary shares (the "Subscription") together representing 22.9% of the enlarged share capital of the Company at Admission. The market capitalisation of the Company at the Placing price of £0.06 per Ordinary Share is £11.9 mill

[nicky21] 20/1/2019 13:25

wait and see


and not forgetting Boliva

[fenners66] 20/1/2019 13:19

nicky21
20 Jan '19 - 12:40 - 8972 of 8975
"just say if they get that licence 60% of a world class asset."


No lets be realistic



1] note 16
"a change from the opaque allocation of Ghana’s oil blocks
to non - performing cronies to a transparent allocation of oil
blocks to investors with the capacity to work the fields"

They do NOT have the current capacity to work the fields

2] Any block awarded to anyone offshore has only a small chance of finding commercial oil
What is that 4% ? Even 10% there must be industry stats

3] They would have to do a massive fund raise just to do some desk work probably so you can dilute any interest you have. Say by 50%

4] In order to actually drill with almost zero cash it would need a farm out to someone who can "work the field" - oh there is that familiar phrase again - I would expect given the location , the once again falling oil price, the possibility of oil being replaced by renewal electricity some time soon ie on the timescale of anyone actually getting commercial amounts out of a new field that the farm in partner would want a huge stake - say 90%

5] in order to stay in the game at that stage it would need another fund raise - say 200%


So we could do the maths


60% (shared with PET etc.) x 4% x 10% = 0.24% interest

Then you have local tax taking their stake etc

The dilute your shares interest in that by 250%

Lets say there was a biggy and future cash discounted cash flow was $500m

Take 50% off for local tax = $250m

Take CLON stake at 0.24% = $600k

Take the dilution of shares at 250% = $240k

Take the conversion to £ at 1.29 = £186k

And divide by the current number of shares in issue 717m

That leaves 0.026 pence per share

Which would put the shares at 10x overvalued now......

[nicky21] 20/1/2019 12:58

at 30 p this could have a market cap of £250m including placings on the way up.

[nicky21] 20/1/2019 12:58

have got 207365

in debts of £20,000

if this hits 30p then am sorted bigtime.


giving it 2 years to hit 30p.


have been in EEL for 10 years.

got £10400 in there as well but delisted.

[nicky21] 20/1/2019 12:47

when Pet got the irish licences it went from 5p t0 32p.
several years ago.

this is ghana we are talikng about though.

[nicky21] 20/1/2019 12:40

just say if they get that licence 60% of a world class asset.

[nicky21] 20/1/2019 12:40

its lippe who is spoiling it

[exile] 20/1/2019 12:16

When an ADVFN bb board is like this you just know the stock has less than Junk status.

[lippe] 19/1/2019 21:50

It was something about your mum Emilio, although I thought it was a little harsh ....

[emilio] 19/1/2019 21:10

Cant read what Piipipi sad he's on Filter since years !

[exile] 19/1/2019 17:36

I think he was lonely and enquiring if you were single lippe……

[lippe] 19/1/2019 13:23

flyhi / emilio scratch, a truly sad individual ...

[fenners66] 19/1/2019 12:05

Someone posted that at 6.02am?

[emilio] 19/1/2019 06:02

PIPPI no WIFE ?