Oilexco Share Discussion Threads

[joestalin] 25/9/2019 11:14

Charts have never encouraged anything.

Neither has spinning a coin.

[bountyhunter] 25/9/2019 09:07

Brent header contract rolled.

[cpap man] 25/9/2019 07:45

PET



1st of several MEGA RNSs out this morning from PET



Director, David Horgan commented:



"Petrel's modest size has long constrained our growth in a Middle East & North Africa (MENA) region bursting with opportunity. Too few premier funding institutions supported projects in conflict zones. We need access to bigger projects and deeper capital sources."



"These director appointments may transform Petrel's fortunes. Michel Fayad brings a strong "Rolodex", a flow of high potential projects, as well as significant financial, including hydrocarbon, experience in the MENA region particularly."



"Petrel has 20 years of operating experience in Iraq and neighbouring countries. But past agility has not always been enough. The availability of substantial new backers can now boost Petrel's standing, and therefore the scope of projects that we can tackle. The MENA region has never offered more opportunity."

[cpap man] 25/9/2019 07:45

PET



1st of several MEGA RNSs out this morning from PET



Director, David Horgan commented:



"Petrel's modest size has long constrained our growth in a Middle East & North Africa (MENA) region bursting with opportunity. Too few premier funding institutions supported projects in conflict zones. We need access to bigger projects and deeper capital sources."



"These director appointments may transform Petrel's fortunes. Michel Fayad brings a strong "Rolodex", a flow of high potential projects, as well as significant financial, including hydrocarbon, experience in the MENA region particularly."



"Petrel has 20 years of operating experience in Iraq and neighbouring countries. But past agility has not always been enough. The availability of substantial new backers can now boost Petrel's standing, and therefore the scope of projects that we can tackle. The MENA region has never offered more opportunity."

[cpap man] 20/9/2019 07:45

CLON & PET



From CLON's interims released this morning....



Ghanaian Tano 2A Petroleum Agreement



Ghana currently produces circa 200,000 barrels of oil per day, from the Jubilee, and TEN oil-fields. But potential output could increase dramatically with more pro-business policies. The latest discovery, by ENI, as announced in May 2019, confirms Ghana's prospectivity.



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 a stated focus on early exploration, discoveries and output. During 2018 and 2019 the Ghanaian Ministry of Energy and the Ghanaian National Petroleum Commission considered the current re-application by Pan Andean Resources Ltd (which is owned 30% by Petrel Resources plc, 60% Clontarf, 10% local interests) over the original Tano 2A licence block acreage in the prospective Tano Basin, West Africa.



Clontarf and its partners have had cordial and frank discussions leading, we believe, to a meeting of minds.



The Ghanaian authorities are now keen to resolve outstanding issues, and drive forward with the professional and prompt development of Ghana's oil & gas potential.



Two official bodies are reviewing dormant and pending petroleum agreements in Ghana: the Ministry of Energy and the National Petroleum Commission.



Accordingly, the authorities are reviewing existing Petroleum Agreements, as well as conducting a separate bid round.



This fulfils Section 10 of the new Petroleum Exploration and Production Act, 2016 (Act 919) requiring enforcement of a transparency regime to better manage Ghanaian petroleum resources.



Clontarf, and its partners, have also discussed with the authorities the possibility of working along with GNPC regarding the current 'Block 1' (subject to parliamentary ratification).



Separately, we understand that Erin Energy Inc., a US company currently in Chapter 11, may soon relinquish or have abrogated that portion of the original Tano 2A acreage that Erin Energy Inc (formerly known as Camac Energy Inc.) was awarded in 2014 - which led to immediate legal action by Clontarf. This would open a path for Clontarf to recover all of the original 1,532km2 acreage.



Ghana's prospectivity highlighted:

Ghana's prospectivity has been highlighted by yet another, recent oil discovery, subject to two confirmatory appraisal wells, of potentially 1 billion barrels, which could double Ghana's production by 2021.



What transformed such projects was much lower appraisal and development costs, a recovering oil price (currently $68), development of the gas market, but especially the Ghanaian government's openness to practical development approaches.



Each such discovery yields multiple additional well targets which can, in turn, be subsequently drilled. In turn, each development spreads and lowers infrastructure costs.



The Directors believe all outstanding issues have now been resolved with GNPC on our Tano 2A Block, and understand that the signed Petroleum Agreement is now being sent to the Cabinet. All legal proceedings have been dropped and all issues resolved to our satisfaction.



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 coordinates and any other fine-tuning necessary.

[cpap man] 20/9/2019 07:44

CLON & PET



From CLON's interims released this morning....



Ghanaian Tano 2A Petroleum Agreement



Ghana currently produces circa 200,000 barrels of oil per day, from the Jubilee, and TEN oil-fields. But potential output could increase dramatically with more pro-business policies. The latest discovery, by ENI, as announced in May 2019, confirms Ghana's prospectivity.



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 a stated focus on early exploration, discoveries and output. During 2018 and 2019 the Ghanaian Ministry of Energy and the Ghanaian National Petroleum Commission considered the current re-application by Pan Andean Resources Ltd (which is owned 30% by Petrel Resources plc, 60% Clontarf, 10% local interests) over the original Tano 2A licence block acreage in the prospective Tano Basin, West Africa.



Clontarf and its partners have had cordial and frank discussions leading, we believe, to a meeting of minds.



The Ghanaian authorities are now keen to resolve outstanding issues, and drive forward with the professional and prompt development of Ghana's oil & gas potential.



Two official bodies are reviewing dormant and pending petroleum agreements in Ghana: the Ministry of Energy and the National Petroleum Commission.



Accordingly, the authorities are reviewing existing Petroleum Agreements, as well as conducting a separate bid round.



This fulfils Section 10 of the new Petroleum Exploration and Production Act, 2016 (Act 919) requiring enforcement of a transparency regime to better manage Ghanaian petroleum resources.



Clontarf, and its partners, have also discussed with the authorities the possibility of working along with GNPC regarding the current 'Block 1' (subject to parliamentary ratification).



Separately, we understand that Erin Energy Inc., a US company currently in Chapter 11, may soon relinquish or have abrogated that portion of the original Tano 2A acreage that Erin Energy Inc (formerly known as Camac Energy Inc.) was awarded in 2014 - which led to immediate legal action by Clontarf. This would open a path for Clontarf to recover all of the original 1,532km2 acreage.



Ghana's prospectivity highlighted:

Ghana's prospectivity has been highlighted by yet another, recent oil discovery, subject to two confirmatory appraisal wells, of potentially 1 billion barrels, which could double Ghana's production by 2021.



What transformed such projects was much lower appraisal and development costs, a recovering oil price (currently $68), development of the gas market, but especially the Ghanaian government's openness to practical development approaches.



Each such discovery yields multiple additional well targets which can, in turn, be subsequently drilled. In turn, each development spreads and lowers infrastructure costs.



The Directors believe all outstanding issues have now been resolved with GNPC on our Tano 2A Block, and understand that the signed Petroleum Agreement is now being sent to the Cabinet. All legal proceedings have been dropped and all issues resolved to our satisfaction.



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 coordinates and any other fine-tuning necessary.

[cpap man] 18/9/2019 13:33

CLNR



North Sea gas pioneer makes case for UK to maintain output

NORTH Sea-focused Cluff Natural Resources has said the UK must maximise the production of gas in its waters to minimise reliance on supplies from overseas amid efforts to tackle climate change.

The company’s chairman Mark Lappin noted the Committee on Climate Change had recognised oil and gas would account for the bulk of the country’s energy needs while efforts are made to reduce net carbon emissions to zero by 2050.

[cpap man] 18/9/2019 13:25

CLNR



North Sea gas pioneer makes case for UK to maintain output

NORTH Sea-focused Cluff Natural Resources has said the UK must maximise the production of gas in its waters to minimise reliance on supplies from overseas amid efforts to tackle climate change.

The company’s chairman Mark Lappin noted the Committee on Climate Change had recognised oil and gas would account for the bulk of the country’s energy needs while efforts are made to reduce net carbon emissions to zero by 2050.

[cpap man] 17/9/2019 11:45

PET & CLON



Apart from the obvious like Ghana aye have been wondering if CLON will also get a share in IRAQ as well especially if PET are fully taken over by the BILLIONAIRES?!?!?

[cpap man] 17/9/2019 11:44

PET & CLON



Apart from the obvious like Ghana aye have been wondering if CLON will also get a share in IRAQ as well especially if PET are fully taken over by the BILLIONAIRES?!?!?

[cpap man] 16/9/2019 14:30

BLOE



Take a look at POST 4880 [BLOE chart] plus....



LuckyMouse16 Sep '19 - 14:24 - 4883 of 4884

Hoot - shocking ramping there mf - but yes - it has found a base on the 23%, convincing break out from the down trend, blue vols are taller than the reds, but nothing like before, so a wander up to the next fib or two pretty likely now.
It will prob pause at the 38% with that cons to the left, and at that point may well look like an Inv H&S upto the 50%
ATB LM :)

[cpap man] 16/9/2019 14:30

BLOE



Take a look at POST 4880 [BLOE chart] plus....



LuckyMouse16 Sep '19 - 14:24 - 4883 of 4884

Hoot - shocking ramping there mf - but yes - it has found a base on the 23%, convincing break out from the down trend, blue vols are taller than the reds, but nothing like before, so a wander up to the next fib or two pretty likely now.
It will prob pause at the 38% with that cons to the left, and at that point may well look like an Inv H&S upto the 50%
ATB LM :)

[cpap man] 16/9/2019 12:25

BLOE



Hepseal
Today 08:47

Malcy (Thursday) - "I had a very good meeting with Paul @BlockEnergyplc yesterday and will write up shortly"

[cpap man] 16/9/2019 12:22

BLOE



Hepseal
Today 08:47

Malcy (Thursday) - "I had a very good meeting with Paul @BlockEnergyplc yesterday and will write up shortly"

[bountyhunter] 16/9/2019 09:07

Trump Authorizes SPR Oil Release After Saudi Supply Disruption

[bountyhunter] 16/9/2019 09:07

Trump Authorizes SPR Oil Release After Saudi Supply Disruption

[bountyhunter] 15/9/2019 10:40

Saudi attacks: Oil price to spike as production halves

[bountyhunter] 15/9/2019 10:40

Saudi attacks: Oil price to spike as production halves

[cpap man] 06/9/2019 07:55

PET



CHART PATTERNS @ PET



#PET

LSE:PET #PET

#PET BREAKING OUT from a 5 year CHART PATTERN - EXTREMELY BULLISH

[bountyhunter] 01/9/2019 13:26

Dorian now Cat 5

[bountyhunter] 31/8/2019 09:46

Header Brent chart rolled.

[bountyhunter] 29/8/2019 08:56

Hurricane Dorian...