Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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This will take off.
25 May 2012 Agriterra Ltd ('Agriterra' or 'the Company') Acknowledgment of £11,372,682 Compensation Award to Agriterra Agriterra Ltd, the AIM listed pan African agricultural company, is pleased to announce that following its instigation of international arbitration proceedings, the Ministry of Petroleum and Mining of the Republic of South Sudan ('the MPM') has acknowledged in writing the Company's entitlement to receive a compensation payment, as assessed by the country's National Petroleum Commission ('NPC'), of £11,372,682 ('the Compensation'). In the same communication, the MPM acknowledged that compensation should have been paid much earlier and has confirmed that it will be paid to the Company within one year. The Compensation is acknowledged as being partial recompense for the work undertaken and the substantial investment made by the Company on the Block Ba oil concession area in Southern Sudan, during its previous incarnation as White Nile Limited ('White Nile'), an oil and gas exploration company. White Nile commenced exploration work on Block Ba in 2005 and continued exploratory activities prior to the NPC's decision to prohibit exploration work in the area, in June 2007. Whilst this recent communication from the MPM is a positive development in the Company's efforts to achieve a resolution to this long running matter, and arises from the Board's initiation of international arbitration proceedings, the Company has now called for a meeting with the relevant authorities in the Republic of South Sudan in an effort to expedite payment of the Compensation.
The Company also retains, as a legacy asset, a 20% interest in the South Omo block in Ethiopia, which London listed Tullow Oil plc ('Tullow') and Africa Oil Corp have farmed into the development of. Initial results announced by Tullow following drilling in Block 10BB in Kenya, which houses the same petroleum system as South Omo, have been highly positive, increasing the prospectivity of the South Omo Block. Should a discovery be made on the South Omo block, Agriterra's 20% interest could prove to be significant for the Company's shareholders and Agriterra looks forward to future announcements from Tullow regarding this concession. Agriterra CEO Andrew Groves said, "Our legacy oil assets are continuing to look extremely promising, with the South Omo block prominent in Tullow and Africa Oil east African exploration plans. An £11 million cash payment from the South Sudanese, represents approximately 30% of our current market capitalisation and further enhances our already strong balance sheet on a non dilutive basis."
Hi Rigger are all the numbers right typed in to read but no article found came up??
BOOOOOOM!
READ THIS! http://www.investegate.co.uk/Article.aspx?id=201205250700120645E
Climate in general is down all my shares have nose dived but they will come good I still think 7p realistic this year.
Looks like the Beef side of the business is moving along nicely & will become pretty productive in the short to medium term. Im interested as to why the SP dropped recently, especially in light of such a positive RNS being released very shortly afterwards.
276p and I have no spare cash great time to top up
Shares accross the board taking a hit need to sit it out.
Thanks for that info on Tullow RNS, still will be an interesting few weeks with agta i`m still confident we will do well here.
Most probably in direct relation to the Tullow RNS that was released this morning, stating that they had abandoned and plugged the Teek 4A OFFSHORE appraisal well in Ghana having only found a thin and non commercial reservoir there. Although the new bears no direct relation to the planned Agriterra related drill in Q3 of this year, it does relate and pull down the SP of Tullow who will be carring out the drill itself.
Dropping back a bit hope it holds 4.2 or more over the weekend and a good run next week
Yeah but admit this I knew nothing about this share before the right side article and bought in mainly based on that with a little added research. Just trying to stay away from the euro zone! Got in slightly over 3p so doing good so far!
Looking good 5p soon.
yeah I got in back in feb as a result of reading the below article by "therightside". I did my research and far from being scared off by the white Nile history (like a number of my fellow mates with which I normally invest/bounce potential punts off, etc) found it to be a positive legacy with reference to the drilling rights. Here is the article: (there have been others since but i found this particularly informative) http://www.moneyweek.com/investment-advice/share-tips/right-side-the-most-exciting-stock-in-a-hugely-exciting-market-57727 Enjoy :-)
You are in at a very good price. I got in at 3p and bought 78125 so fingers crossed will be a good earner for us both I also have a finger in Bor and Fogl could be a good month if all goes to plan.
Fingers crossed, 7.5p after confirmation of the abattoir completion would be very welcome :-) Hopefully Tullow spud in Q3 also and people begin entering in relation to the extra publicity that would bring. Im very glad i discovered this and got in a 3p earlier this year even if i only have a very modest holding of around 15,000 shares. (all i can spare right now)
Climbing slowly towards 5p inline with my target of 7.5p in a month or so Great potential
This should start to move soon tullow conection cocoa price on the up
Glad I spotted this one before the crowd
My last post was meant for BMR. Apologies, I should clearly be going to bed!
I am happy with where we are, they will always be those who get in & out for a quick profit and we had a lot of those today. My interpretation was that the market liked the news, bought in and then some realised they were up 5-8% on the day & based on the 10% rule - they profited. Thats what speculators do. I have some cash prepared and any further profit taking, I am going in all out! I am feeling good about this!
These will fly in advance of Tullow spudding south omo.
hese read thro back posts,who is he???...something odd going on ere,saw him sunday morning but didnt think owt of it...........maybe admin in disguise??...will he b back..hmmmmm......