Mineral & Financial Inve... Share Discussion Threads

[u696061] 10/10/2017 16:37

just seen this. We know CAP Energy is a sizeable investment in the MAFL portfolio. Hoping for positive news soon.

THE LEGAL tussle between UK junior Cap Energy and ASX-listed Far Ltd. over access to 3D seismic shot on the Djiffere block offshore Senegal passed another milestone last week with a High Court in the capital Dakar ruled that both parties should seek mediation in London.
Cap has registered a request to increase the original $2 million lien on Far’s assets to $17 million to cover the value of a bond demanded by the government to enable Swiss-based Differe operator Trace Atlantic Oil and partner-guarantor Cap to proceed to the next exploration phase.
Melbourne-based Far claims it still enjoys a valid 75% option agreement with Trace and Cap to farm into the Djiffere block upon provision of contracted seismic but has so far delayed, claiming Trace does not hold the block in good standing.
UK-registered Cap says it withdrew that option deal last year but is nonetheless required to post a bond blindfold in the absence of seismic that Far was to provide under the option accord.
In a hearing on 28 August, the advocate representing Far, Maitre Ibrahima Mbengue, secured an adjournment and the court eventually scheduled 28 September to give judgement.
Both companies were ordered to seek mediation in London with arbitration under English law also suggested by the court. However, if the mediation fails and parties do not agree to arbitration they are constrained to return to Dakar under the jurisdiction of Senegal where the contract was signed for the court to make a final decision, according to Cap’s counsel Maitre Malal Barry.
Following local procedures, Barry must now work through the court to formally invite Far to mediation in London.
Far’s interests in Senegal are reflected in a 15% equity holding in the Rufisque-Sangomar-Sangomar Deep (RSSD) block operated by UK-based Cairn Energy -- and in the flagship SNE field development.
Far also approached the International Chamber of Commerce in Paris on 20 June to commence arbitration over its pre-emption rights to a 35% stake in RSSD originally held by ConocoPhillips but farmed out to Woodside Petroleum without, Far claims, following proper notification procedures.
Far has consistently denied having formal notification of any dispute with Cap Energy and has opted not to comment on the legal proceedings underway in Senegal.

[euclid5] 09/10/2017 21:00

Thanks to Stonechic on the LSe board

hxxp://trendintech.com/2017/09/28/is-indium-the-way-to-go-for-the-next-wave-of-efficient-battery-storage/

[arab3] 04/10/2017 12:42

something stirring again here ?

[btfd] 03/10/2017 12:48

Buy low, sell high. Where we are now is low.. go figure the rest..,

[btfd] 26/9/2017 14:57

frustrating but near end of drills now, probably by end of month ish all done

[harleymaxwell] 26/9/2017 09:22

Very frustrating sp

[u696061] 24/9/2017 13:30

Mr. Jacques Vaillancourt, CFA, served as the Managing Director and Head of European Operations at BMO Capital Markets Corp. Mr. Vaillancourt has been an Executive Chairman at Redstar Gold Corp. since August 2013 and its Director since August 21, 2013. He has 30 years of experience in global financial markets during which he was involved in over $35B of financings for the resource sector. He serves as President of Mount Everest Finance S.A., which provides financings ... Mount Everest Finance own a large stake in MAFL

[btfd] 21/9/2017 13:09

Simply put.. Jacques Vaillancourt is a deal maker with over $30 billion worth of experience.. that's why he is sitting on the board of TH Cresgate, to get this deal done.. and that's why MAFL own 49% of THC.

[u696061] 21/9/2017 09:11

People will pile in on rumour of agreed sale. Always the case

[dafad] 21/9/2017 08:35

Similar dituation to solg who sat at 2p
For a long time before people realised what
They had

[u696061] 21/9/2017 08:34

Not long to go 2 more results and then on to sale

[dafad] 21/9/2017 08:28

Nice update

[harleymaxwell] 19/9/2017 13:02

So same old story dropping price heavily on small volume!

[btfd] 18/9/2017 21:38

chill and wait for the drill

[u696061] 18/9/2017 17:46

Just need to chill. Different ball game now results due and potential bidders for the asset. I feel it will gradually move higher.

[euclid5] 18/9/2017 15:55

we own 1.30% of Cap Energy hares or 398,934 shares accoring to the latest Cap Energy presentation

1 exploration well by end 2018/early 2019 for the Guinea-Bissau Block 5B

Final 3D Interpretation report by 3Q17 then partial farm out

28/08/2017 Cap Energy RNS
CAP ENERGY PLC
(“CAP Energy” or the “Company”;)
Guinea-Bissau Update

CAP Energy is pleased to provide an update on its Guinea-Bissau activities.
An amendment of the fiscal terms has been obtained and gazetted by the Ministry of Resources. The new terms

are more favourable to CAP’s activities in its offshore Block 1 and Block 5B. A twelve month extension over the Block 1 licence was also granted

hxxp://www.capenergy.co.uk/resources/Fiscal-Terms-Announcement-280817.pdf

hxxp://www.capenergy.co.uk/resources/CAP-Energy-Plc-Q3-2017.pdf

[btfd] 18/9/2017 15:26

don't worry.. those results today spoke volumes. Sit tight and be rewarded

[harleymaxwell] 18/9/2017 15:23

There you go fewer sellers and yet price drops more rapidly! Same old story!

[btfd] 18/9/2017 12:52

Here it goes. It's buying time!

[btfd] 18/9/2017 09:39

limited downside imo .. sub 4m market cap.. great cash position.. no debt... and a multi billion asset being written into accounts at COST. Bags and bags soon imo

[harleymaxwell] 18/9/2017 09:30

It always seemed to fall fast on a few sells do let's hope we see the reverse now!

[u696061] 18/9/2017 09:21

This should re-rate at some point after today's announcement. Once she goes there's no catching it in my opinion.