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On the move
Not long to go for Ratification Tano 2A
28/1 will be the opening of a bew sitting for the Ghana Parliament and also the opening of a new era for Clon. It looks like I was right with PET and looks like that situation will be cleared up very soon which means that there is no reason why this has been marked down. I expect a move north ;)
There's that word "COULD" again.
Clon licence area is surrounded by producing fields and with very high CoS of producing commercial oil in billion barrel scale - by evaluation of the geology and seismic work done to date.
The licence(s) could be ratified in any Ghana Parliament session from Jan 28th.
We know of no change since these statements were made in Sept 2019:
"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....Clontarf and its partners have had cordial and frank discussions leading, we believe, to a meeting of minds."
"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."
"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"
Interesting that options were issued 12 days after this to directors, why bother if this is all spin and for nought?
freeshare its 28th Jan. Past few weeks have been surreal with pet and clon but I am keeping faith and holding tight. I am trying to read posts on this less as many fake rampers who love to seek attention. A few good people here who are sharing genuine advice and I am grateful for that. Fingers crossed.
Any dates on when Ghana parliament sits???
We all have our own strategies, Bridges,....I like to create Free shareholdings, when opportunity presents.
BW
Wraith for me Confu is on filter, I don’t waste my time Reading that trash the troll writes.
Every one has different strategies but for me I haven’t sold a single share and simply accumulate. I Don’t intend to take profit here until we get results of first drill.
Wraith, I'm sure by now everyone is well aware of your free shares.....
We should all be aware of the risks on AIM, confu,....I have taken good Profits here at CLON, also at PET,....holding free CLON shares myself (with large Cash Profits taken), awaiting news.
BW
Maybe he forgot to do his research.
Never seen any proof or reputable third party substantiating their/ his claims...despite me and other regular LSE members asking and asking....
Whereas there is substantial industry news publicised coupled with RNSs available...
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.oilfieldtechnology.com/drilling-and-production/23092019/clontarf-energy-provides-update-on-1h19-operations/amp/&ved=2ahUKEwjpuqz_sZDnAhUBoVwKHZv8BCsQFjAAegQIBRAB&usg=AOvVaw2PbxQggEMQBfTa6tUbGNqI&cf=1
I'd say that if he can provide a public statement from a Ghanian official then it's just noise.
Everyone knows your position on this unless you have meaningful information backed by an official source I would say you are a clown.
Gla lth
Confu
No ones forcing you to buy anything!
Run along and go find a FTSE stock.......
Well Bridges, you are consistant in keeping up the B/S. There is no and there will be no ratification of anything from Ghana. There never was any possibility. The Ghana Govt wouldn't have anything to do with Clon or Pet or any of these people. There's umpteen "exploration" companies operating out of 162 Clontarf Road with the same dingy office, same directors, same phone no, same kettle, same toaster, same secretary and same MO. Ironically the London boys have pulled a fast one on this lot and tomorrow morning Pet will hit the floor. The same will happen with Clon and they will be back down where they belong --worthless. Folks, if you are going to invest in AIM, do the research. The info is out there.
robrob ratification of 2 licences will see heavy demand for shares from not just PIs, II, fund managers of junior oil portfolios will what this plus big oil. 2 licences of billion dollar reserves with farm in; we are talking multi 100m mc. Just look at PMO, MC nearly 1 billion. Ratification = huge re-rate
So that could be a SP of 10 to 15p IMO
Gla
Double figure digits is possible on the basis of today's mcap...
Dyor
Gla
thats the 64k question isn't it.
The Bopd prospects are amazing. Maybe this is a question for other oil'ers to comment in terms of NAV, Mcap and SP.
I have my sell price in mind which will be after the ratification and farm in announcements that IMO I think will come quickly.
It's worth noting that the in recent reports from BoD they announced the interest is not with just the Tano2a licence but also a direct negotiation for another licence with GNPC.
A very interesting near term event is approaching CLON, while I am not going to ramp this share my personal view is that we (genuine shareholders) will quickly see
- 3rd reading of bill
- President approves and signs
- quick turnaround of ratification announcement for Pan Andean
- almost simultaneous announcement of award of 'other licence'
- Actions begin or are triggered for farm in / partners
GLA to all holders, its been a journey for some of us. February is looking like the fruition to our waiting and positions.
DYOR