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Exactly massiveray and tex I already am in here and this is one of my largest holdings but know nothing may happen for another few months but I have a feelings it’s going to be sooner but I personally said to myself hold for a year here average is 0.42p which is nice managed to reduce it down from 0.49p interest seems to be picking up here and it’s nice the fact if I had to sell now I’m already in profit unlike the rest of my portfolio!!
Sam, if you invest here do it with cash you don't mind being tied up for a long period of time. We could be sat here in 6 months with no news still awaiting ratification. Equally, if could come next month......
Win, lose, or learn!
Massiveray hopefully it works out for you I’m on a losing streak other than here lol maybe I should buy in over there and can win or lose together haha
@MassiveRay, yes I will potentially take a few more as and when I take profit on other stocks...... share the love!
A good amount sam :)
Yes I'm still there, not sure how it will go there to be honest could be great or a massive kick in the nuts :/
massiveray, how many do you hold? you still in SNG, aren't they due results very soon?
haha, would be nice for him starting university soon.
I'm tempted to have a few more but ill see how my other stocks get on.
Gla
.... still a waiting game! Bottom drawer share until some sort of indication of ratification is given, then many here will be sitting pretty, including MassiveRayJunior! This share is completely off the market radar so positive news will create material upside.
Tex
RNS Oct 2nd 2019
"The board of Clontarf Energy plc announces that Directors John Teeling, David Horgan, Jim Finn and Peter O'Toole have each been granted options over 10,000,000 ordinary shares of 0.25 pence in the Company ("the Options"). The Options vest in equal tranches over a three year period commencing from the date of grant, have an exercise price is 0.7 pence and an expiry date of 1 October 2026."
The board granted themselves these options just 12 days after they established a way forward in Ghana following discussions, from Sept 20th 2019 RNS:
"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....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."
Companies don't grant options for the sake of it, they know all the details and chances of success, this was in reaction to positive and realistic movement forward on their original licence area.
They even discussed the possibility of assist on GNPC owned Block 1 which wouldn't have been remotely entertained if core PA talks were not constructive:
"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). "
Some of the original CLON licence area does overlap into parts of Block 1, CLON retain the greatest geological knowledge and analysis of the area having studied it for years - it makes sense to partner and develop this together, but would only occur if CLON gain back a reasonable scale of their original Licence area for themselves.
That positive overall position is the same right now, , with talks scheduled in Spring that were cancelled.
The position is even more enhanced with Insolvency Act passed in May.
Eventually, the CLON PA will see passage through the Ghana approvals process, it could have been complete already if not for the pandemic.