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The speeding ticket was just a formality with no material facts to offer just now. Nevertheless, it was good to get an update especially the recent official meetings. It's not like our contract isn't already waiting for ratification at parliament, so indicates other things are happening in the pipeline.
Good round up Tilburn
Yes that’s my understanding Ray
Recent high-level official meetings have been productive. Clon have previously stated they're happy to work along side the GNPC?
"There now appears to be a legal structure enabling the authorities to recover 529km2 of the original acreage Tano 2A acreage "
"We are ready to initiate the Tano 2A work programme, as soon as the signed Petroleum Agreement is ratified"
"Recent high-level official meetings have been productive"
"High level discussions that the Company had scheduled for March to take place in Ghana ….."
But high level official meetings have ben taking place, further meetings were planned and progress has been made - The key is that the CLON claim is being discussed at high level in the Ghana Govt which is new information - the claim is being taken seriously.
Therefore wont be forgotten once the President signs which should be a formality, just the PA approval now, and the country is on a drive to ratify dormant PA to get production going.
The only delay is due to COVID cancelling mtgs , but material progress has been made - first update RNS since Sept is reason enough to take note, they even ask new holders to reference this for full understanding... "Shareholders are referred to....Company's Interim Statement.... which was released on 20 September 2019"
The disclaimer at the front could have been avoided being a tad OTT by the NOMAD, the tone is cautionary overall as still need to get PA approved, but some upbeat clear messages in this RNS to take away.
Business goes on, video conferencing etc, there are work arounds in all sectors to advance matters.
Rns is actually good imo as it recognises the validity of insolvency bill. I’m surprised to see the rns so early in fact as the insolvency act has not been signed yet by president.
To see this rns so quickly means it’s very likely there are discussions with Ghana to this end. Note the, “we are ready” ....
We’ll all be moaning about a missed entry price later!!!
Gla
Dyor
Woke up to rns and 20+% drop. Tried to cancel my 478k purchase taking my total to 2m, but gone through and actually quite happy with .6299 and SP not tanking further as yet. Time will tell if could consequently have got in lower later on.
True, but good progress is being made especially when you compare it to the last 10 years
Kobe Thanks...so we are still little way of yet
That last post was in regards to Amer’s question btw
The presidents signature will open the road to ratification but it won’t be ratified instantly even though I expect it to be carried out soon after
That is the speeding ticket out the way then did the nomad write the first paragraph?
GM All So far good news all around. Can someone please explain what do they mean by awaiting ratification. Does it mean waiting for the President to sign off or something else. Thanks You.
Tin hats at the ready, then?
3rd April 2020
Clontarf Energy plc
("Clontarf" or "the Company")
Corporate Update
The board of Clontarf Energy plc notes the recent rise in the price of the Company's ordinary shares and can confirm that it is not aware of any material reason for the significant increase. High level discussions that the Company had scheduled for March to take place in Ghana, Europe and Bolivia in relation to its projects have been postponed due to the COVID-19 pandemic.
In terms of providing shareholders with an update on the Company's projects in Ghana and Bolivia, the Company notes the following:
Ghana:
We are ready to initiate the Tano 2A work programme, as soon as the signed Petroleum Agreement is ratified, and subject to securing the necessary funding.
Despite lower oil prices, in the Board's view, the Tano (and Cretaceous oil play generally in West Africa) remains an industry favourite.
Recent high-level official meetings have been productive. The Company understands that new shareholders in Clontarf Energy's 30% partner in the Tano 2A Block, have helped the Tano 2A Operating Company (Pan Andean Resources (Ghana) Ltd.) to overcome any financial capacity concerns following a lower oil price and market capitalisation.
Clontarf also notes the passing of insolvency legislation that may assist in the recovery of all of our original Tano 2A coordinates. There now appears to be a legal structure enabling the authorities to recover 529km2 of the original acreage Tano 2A acreage over which Clontarf signed, with partners, a Petroleum Agreement, and which is now awaiting ratification.
Bolivia:
Clontarf submitted a proposal on medium-sized salt-lakes (including at least one with good Lithium grade & low Magnesium impurity) shortly before the end-2019 Bolivian General Election.
Following the resignation of the outgoing Bolivian government, we have been in discussions with the heads of the National Lithium Company, and the interim Minister's staff.
In summary, Clontarf continues to progress its interests in Ghana and Bolivia, maintaining cordial communications with the relevant authorities in both countries, and continues to operate efficiently on minimal expenditure.
Shareholders are referred to the Company's website and the Company's Interim Statement for the period ended 30 June 2019, which was released on 20 September 2019, for further information on the Company.