Clontarf Energy Share Discussion Threads

[flyhi] 10/8/2017 13:34

!! Agreement was reached on a major item, the acreage and co-ordinates of the licence area. We were pleased with the outcome. !!

[lordz] 10/8/2017 12:49

?RNS Number : 4511FClontarf Energy PLC18 May 2017                                                                                                                                                                                                 18th May 2017 Clontarf Energy plc("Clontarf" or "the Company") Final Results for the Year Ended 31 December 2016   Clontarf Energy, the oil and gas exploration company focused on Ghana, today announces its results for the year ending 31 December 2016.   For further information please visit  contact: Clontarf Energy plcJohn Teeling, Chairman                                                                                        [phone]David Horgan, Director Nominated Adviser and BrokerNorthland Capital Partners LimitedTom Price / Gerry Beaney (Corporate Finance)                                         [phone]John Howes (Broking) Public RelationsBlytheweigh                                                                                                             [phone]Nick Elwes                                                                                                                 [phone]Camilla Horsfall                                                                                                       [phone] Teneo PSGCiaran Flynn                                                                                                              [phone]Alan Tyrrell                                                                                                                [phone] Statement Accompanying the Final Results Investors in junior exploration shares have had a tough time in recent years.  The lack of buying interest in AIM listed exploration ventures has gone on for nine years.  The cycle will turn.  The critical factor is to be among those ventures which are placed to benefit from an upturn.  Investors good enough or lucky enough to select the right vehicles will profit handsomely. Clontarf Energy has ensured survival by maintaining their exploration interests and by raising new funds when available.  We have active interests and are well funded for the present.  We have not relied totally on our legacy ventures and in recent years have examined numerous new ventures and directions.  I report below on one such venture, applications for two offshore blocks in Equatorial Guinea, West Africa. GhanaThe focus of our activities has been and remains, a 60% interest in an onshore/offshore hydrocarbon licence in Ghana - the Tano 2A block.  The saga surrounding this licence since first agreed in 2008 continues.  Over the years there have been disputes, discussions and resolutions over a series of issues relating to co-ordinates, ownership, work programmes.  During the entire time we have continued to talk.  In the past year a number of issues have been agreed.  Agreement was reached on a major item, the acreage and co-ordinates of the licence area.  We were pleased with the outcome.  Discussions took place on a revised work programme.  Again we are happy with the progress in this area.  Our 2008 and 2010 agreements had attractive terms which do not exist in current licencing terms.  We are reluctant to accept any changes in these terms as to do so would increase costs.  Recent elections returned to power the party who originally agreed the terms.  We have good working relationships with politicians in this party. Certain issues remain outstanding.  We are working to solve them.  At $50 a barrel oil we believe the licence area holds significant potential. PeruThe 3% revenue royalty on Block 183 onshore Peru is looking more interesting.  Work done by Clontarf and lately by Union Oil & Gas, the operator, has identified two large structures which Union believe could contain up to 2.2 trillion cubic feet of gas (tcf).  There is a large and growing market for power in this part of Peru.  Plans exists to use any gas discoveries to generate power.  Time has elapsed since Clontarf entered into a joint venture on the block.  The initial partner, POGEL, assigned the block to Union.  Permits were obtained by Clontarf for the environmental work done.  These need to be re-issued.  Once issued a focused seismic campaign will identify drill sites for drilling in either 2018 or more likely 2019. BoliviaClontarf inherited three projects in Bolivia.  These were nationalised in 2006.  Because of this and litigation the Bolivian interests are carried at zero value on the Clontarf balance sheet.  Our refusal to accept nationalisation and a declaration of force majeure on work programmes were notified to the Bolivian authorities.  There is limited ongoing contact. New ProjectsAn opportunity has arisen to acquire offshore licences in Equatorial Guinea.  Discussions have taken place in the capital and in external locations.  The geology is good.  There are discoveries and production in the licence block area.  Licencing terms are tough.  We have applied for Block EG-23 and EG-21.  EG-23 is in shallow water and has had a few wells.  EG-21 has had a number of unsuccessful wells.  Clontarf specialists believe that modern analysis techniques on available data will reveal new targets. FutureClontarf will continue to engage with the authorities in Ghana.  We are in a strong legal position.  We are pleased to note the progress is being made in Peru.  But, we need to reinvigorate the Company.  We continue to examine proposals for new projects, new directions and new personnel.  We are well financed for our current activities.      John TeelingChairman 17th May 2017

[lordz] 10/8/2017 12:47

Well funded!

[fenners66] 09/8/2017 09:38

"Absolutely last chance to buy any at this level,"

Before it fell some more!

Cheaper today - cheaper tomorrow?

[emilio] 09/8/2017 06:15

Pipe you Idiot go back to bed

[lippe] 09/8/2017 06:09

Scepticalolz, I'm a little to the left of that.

Good BJ to all. Lolz

[currypasty] 08/8/2017 21:43

Maureen, that interview was two months ago. Are you saying the situation has progressed.

Forgive me, but after listening to 20 years or Horgan, I am quite sceptical

[lordz] 08/8/2017 19:09

It's just a matter of time now. Load up while it's still this price.

[maureen covill] 08/8/2017 18:19

hxxps://youtu.be/K_-2EOs6pPY

Just the beginning,,,,,,,,,,,,,

incredible money to be made from this level....

[maureen covill] 08/8/2017 18:06

Absolutely last chance to buy any at this level, there was inevitable slight delay, but really not much longer now , just believe me..............

[lordz] 07/8/2017 18:53

https://youtu.be/K_-2EOs6pPY

[cpap man] 05/8/2017 11:00

If you ever look at small cap oil & gas companies maybe take a close look at recently [Monday] fully listed [standard] United Oil & Gas [UOG]

UOG are headed up by 2 ex Tullow Oil [TLW] boys Brian Larkin and Dr. Jonathan Leather

MKT CAP is £6M with over half of that being in cash....UOG have 2 drills planned in the next 4 to 6 months with the 1st drill in October

Obviously with their TLW connections the boys have some massive plans to take the UOG share price from pennies to £ pounds £

[lippe] 04/8/2017 10:39

Phew Davy, the gravy was running a bit thin there on that chapter of the never ending story, best get some more Bisto in for October


ORDER PAPER
FOR THE FORTIETH SITTING OF THE SECOND
MEETING OF PARLIAMENT
WEDNESDAY, 2ND
AUGUST 2017


24. THE HOUSE EXPECTED TO ADJOURN SINE DIE.

[fenners66] 03/8/2017 20:08

lippe - LOL

[lippe] 03/8/2017 16:53

Mr Horgan, sir. That shark's been following us since the Ven died, waiting for the burial ...

[lippe] 03/8/2017 16:41

They have been waiting for over nine lolz years.
The truth is rarely pure and never simple ...

[lordz] 03/8/2017 16:05

This is what they are fighting over this dispute.

[lordz] 03/8/2017 15:21

Lippe... the share price has been at its lowest and peeps are selling when they are awaiting for news on Tano basin. It's not the highest the share price has been anyway. Besides whose paying you. Downgrading Clontarf.