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Pin to quick picksClontarf Share News (CLON)

Share Price Information for Clontarf (CLON)

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Share Price: 0.0375
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Clontarf And Petrel Shares Spike As Legal Issues In Ghana Are Resolved

Mon, 17th Sep 2018 08:48

LONDON (Alliance News) - Shares in Clontarf Energy PLC and Petrel Resources PLC jumped on Monday as the companies said they resolved legacy issues with the Ghana National Petroleum Corp regarding a contract for the development of the Tano 2A Block.

Clontarf shares more than doubled following the news, to 0.43 pence each, while Petrel shares were up 22% at 2.37p.

The legacy issues at the Tano 2A go back about 10 years and involve co-ordinates of an area covered by a petroleum agreement that was not approved by the Ghanaian cabinet or parliament.

As a result of the resolution, all legal proceedings have been withdrawn, and the companies expect the petroleum agreement to be sent to cabinet for review.

Petrel owns a 30% in Pan Andean Resources (Ghana) Ltd, the private Ghanaian company which holds the Tano 2A Block, while Clontarf has a 60% interest. The remaining 10% is held by local Ghanaian interests.

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29 May 2014 11:18

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29 May 2014 11:09

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29 May 2014 10:54

UPDATE: Petrel Resources Chief Steps Aside To Focus On Ghana Dispute

LONDON (Alliance News) - Petrel Resources PLC Thursday said that Chairman John Teeling will be managing its day-to-day operations for the time being, with Managing Director David Horgan stepping aside from his role to focus on bringing the company's Ghanaian dispute to a successful conclusion.Read more

29 May 2014 10:53

Clontarf Energy Pretax Loss Widens On Expenses, Impairments

LONDON (Alliance News) - Clontarf Energy PLC Thursday said its pretax loss widened in 2013 as the company, which is currently involved in an ongoing dispute over a licence award in Ghana, was hit by impairment charges and higher administrative expenses. The Ghana and Peru-focused oil and ga

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29 May 2014 10:43

Petrel Resources Managing Director Steps Aside To Focus On Ghana Dispute

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8 Apr 2014 12:18

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8 Apr 2014 10:30

Petrel, Clontarf Granted Interlocutory Injunction By Ghana Court

LONDON (Alliance News) - Petrel Resources PLC and Clontarf Energy PLC said Tuesday that the High Court of Ghana had granted their application for an interlocutory injunction and an interim order to protect of its property rights at the Ghana Tano 2A Block. The companies are currently awaiti

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25 Mar 2014 15:03

Petrel Resources and Clontarf Energy take legal action in Ghana

African oil explorers Petrel Resources and Clontarf Energy are taking legal action to stop rivals potentially drilling for oil in a block in Ghana which they own. Petrel and Clontarf have told their lawyers to seek an injunction to prevent the award of any part of their Tano 2A block, in which they

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25 Mar 2014 13:54

Clontarf Energy, Petrel Resources Await Ratification Of Tano 2A Petroleum Agreement

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