Persian Gold Share Discussion Threads

[f 10] 01/11/2010 20:55

eh m es mx - 25 Jun'10 - 22:31 - 2392 of 2671

PNG is skint. It has no money. It has absolutely nothing to offer except for it being a listed shell. It's only way of survival is to reverse into Hyrdo Ex (Pan Andean)... the pay off for its survival will be massive dilution.

Take another clontarf road company that did a RTO. WAD.. it did a RTO with STEL.

WAD got suspended at 3.5p

The share price of STEL now is equivalent to 2.3p (equivalent to previous WAD share price... all time low)

PNG will be worse, and it's so satisfying that TOOLE is upto his neck in these. Just like he has been wiped out in WAD, he'll get wiped out here as well.

[f 10] 01/11/2010 20:55

eh m es mx - 25 Jun'10 - 12:34 - 2386 of 2671

What's in store for PNG/ ex PRE holders :

[f 10] 01/11/2010 20:54

KimmyJones - 24 Jun'10 - 17:04 - 2379 of 2671

Where has all the cash from PNG ? All the mighty dreams that the management sold to its shareholder - what came of it ? NOTHING.

Now the company is skint, drained ALL of shareholders money - whilst directors used up all the money awared them good wages.

Now the only way it can survive is to reverse into another company - issue millions and millions of shares which will dilute existing shareholders to high heaven.

And the whole things starts all over again. It's a fantastic gravy train for the directors that run these companies.

[f 10] 01/11/2010 20:54

KimmyJones - 24 Jun'10 - 16:59 - 2378 of 2671

why dont the company come out and admit the real reason why its been suspended ? they know fine well

ITS BECAUSE THEY HAVE PAID THEMSELVES MILLIONS IN WAGES AND BONUSES OVER THE PAST YEARS !!

now they have had to suspend the share so that they can go begging for some more money.

[father o toole] 28/10/2010 14:16

Yes yari they have been getting revenue from bolivia for quite a while now

[yarisverso] 28/10/2010 06:44

FOT - did I hear correctly that they are getting revenue from oil and gas production in Bolivia?

[nickb] 27/10/2010 09:44

Must be close.

[father o toole] 25/10/2010 18:50

clontarf energy presenting on 23 nov in Dublin as part of a proactive investors event.

[domtheone] 20/10/2010 21:46

LMAO Much Ado (or should that be Peru) about nothing.

[bongo bwana] 17/10/2010 18:57

Hey SS,

Just back after a very late, strange and sad night but that was internalised by most there.

Completely zonked/knackered.

Will be in contact tomorrow.

[yarisverso] 17/10/2010 11:19

Apologies FO'T. Amended to 2 Blocks. It will be interesting to see what the seismic studies on Block 2A in Ghana will show up.

[nickb] 16/10/2010 22:22

Brilliant, looks like we are going to have a lot to talk about over the next decade!

[share_shark] 16/10/2010 22:08

I second that FOT.

[father o toole] 16/10/2010 21:28

3 cheers for DH, JT and JF, credit were credit is due.

[father o toole] 16/10/2010 21:25

Friday, October 15th, 2010 | Posted by admin Repsol-YPF, Ecopetrol awarded Peru oil blocks
A joint venture between Spain's Repsol-YPF and Colombia's Ecopetrol won concession rights to four oil and natural gas blocks in the Peruvian Amazon.

Ecopetrol also won exploration and drilling rights to another block as a lone bidder in Thursday's auction, while Emerald Energy Peru, a unit of China's Sinochem, won concession rights to five blocks in jungle areas.

Argentina's Tecpetrol was awarded one block and Britain's Pitkin Petroleum and Hydrocarbon Exploration PLC were awarded one and two blocks, respectively.

Peru's government has now signed more than 100 oil and natural gas contracts with foreign investors following this latest auction, 89 of which are for exploration, according to Perupetro, the state licensing agency for hydrocarbons concessions.

Perupetro President Daniel Saba said Thursday's process was "the most successful" to date.

Saba also hailed the royalty commitments secured from the different energy companies in the auction, saying they averaged 26 percent.

The Repsol YPF-Ecopetrol joint venture was awarded rights to Lots 182, 184 and 180 of the Ucayali basin, in Peru's central jungles, after offering to pay royalties of 15.5 percent, 19 percent and 17.1 percent, respectively.

That same joint venture also was awarded Lot 176 in the Marañon River basin after proposing royalties of 15.5 percent.

Bidding separately, Ecopetrol won rights to Lot 179, also in the Marañon basin, after offering to pay royalties of 15.5 percent.

Emerald Energy Peru, for its part, was awarded rights to Lots 178, 175, 165 and 185, all located in the Marañon basin, and to Lot 173 in the Ucayali River basin, after agreeing to royalties of between 30 percent and 33 percent.

Argentina's Tecpetrol won the rights to Lot 174 in the Ucayali basin with a royalty proposal of 20.05 percent.

Pitkin Petroleum was awarded rights to Lot 23 in the Sechura basin by offering royalties of 15 percent, while Hydrocarbon Exploration won Lots 183 and 188 with a minimum royalty bid of 45 percent.

According to Perupetro's estimates, the awarding of these 14 blocks should bring in $700 million in investment over the next few years

[father o toole] 16/10/2010 20:59

Ireland-based Hydrocarbon Exploration
won the rights for block 183 in the Maranon
and block 188 in the Ucayali

---------------------------

MY MATHS IS NOT THAT GOOD BUT I THINK THATS 2

[yarisverso] 16/10/2010 15:41

2 new Blocks in Peru for the new company:-

For anyone with shares in the new Hydro Exploration company (PNG + Rump of PRE),
A new block in Peru:-

Sinochem unit leads Peru auction of 14 oil, gas blocks

Lima-Peru October 14 awarded exploration
rights for 14 gas and oil blocks, all but one in
the country's Amazon rainforest, with companies
offering to pay an average 26% royalty to
the government.
Another 11 Amazon oil blocks were not
awarded due to a lack of qualified bidders,
according to state oil licensing agency Perupetro.
Emerald Energy Peru, a unit of China's
Sinochem that already operates in the
upstream in Colombia and Brazil, was the winner
of the largest number of areas with five
exploration blocks in the Amazon: blocks 165,
178 and 185 in the Maranon River Basin and
and blocks 173 and 175 in the Ucayali River
Basin.
A joint venture of Spain's Repsol and
Colombia's Ecopetrol won rights to block 176
in the Ucayali and blocks 180, 182 and 184
in the Huallaga River Basin. Repsol is already
the largest energy company in Peru, operating
in both the upstream and downstream.
Ecopetrol on its own was awarded rights for
block 179 in the Maranon.
Ireland-based Hydrocarbon Exploration
won the rights for block 183 in the Maranon
and block 188 in the Ucayali, offering the
highest royalties at 45%. Hydrocarbon representative
Mauricio Gonzalez said the 45%
royalty is not really a big burden because
the contract calls for an initial 15% minimum
royalty and that the higher percentage
will apply only after earnings from the
blocks.
Tecpetrol, an Argentinian crude oil producer,
won the rights to block 174 in the Ucayali.

Pablo Ledesma, manager of new business
development at Tecpetrol, said after the bidding
that his company will reprocess seismic
data available from block 174 as a starting
point, but declined to provide other details
about investment.
Pitkin Petroleum, a UK-based company
with interests in the US and Vietnam in addition
to exploration rights offshore northern
Peru, won the rights to block 28 in Peru's
northern desert.
Petroperu Chairman Daniel Saba said the
new exploration contracts bring the total in
Peru to 101, a new high, calling the bidding
results the "most successful auction" for oil
and gas in Peru.
Royalties ranged from 15% to 45%, yielding
an average of 26%. A Perupetro official
said this compares with an average royalty of
32% in the last bidding round in 2008 and
26% in the 2007 round.
The Peru contracts are granted for a
seven-year exploratory period which can be
extended up to 30 years for oil and 40 years
for natural gas if the companies decide to
develop the blocks. The average investment
expected within seven years is $50 million
per block so Perupetro has said it estimates
total spending of $700 million over the initial
7-year period.

[yarisverso] 14/10/2010 17:36

I heard that it was the cpr in the courts on the Iran assets (such as they are), that were holding up proceedings. However, that blockage soon to be cleared.