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Azonto's cash will run out by year end but they have $50m from Vitol and interest from the banks to loan additional financing which if agreed would get the gas ashore within 18 months. From the RNS which is encouraging: Planning for the Gazelle Field Development is now well advanced. This has included commencing discussions with a number of commercial banks who have expressed interest in providing debt finance to support the development of the project. You would think the BOD would be buying in at this level as a show of faith. They already have splashed half a mil around the 2p mark. Anyway hold tight guys & gals, can't me much more downside from here.

News out tonight on ASX. Nothing we didn't already know, more a statement to try and reassure holders. Progress will be slow but future will be bright for shareholders that are patient. (I've no option down too much!) Quarterly statement also released. Cash reserves down 3.5m AUS$. There will be an analyst conference call starting soon in Sydney. Wonder how the stock will perform. ASX opens in 5 mins.

Yeah redbird when will it stop. It must be near the bottom of the cycle as only a few sells going through now. I assume any sells now are at a loss. Still a lot of long term holders who bought in around 2p and higher. Need good news to stimulate buyers. Next definite news is annual report in March. Might get an update on the gas project and funding soon (hopefully). One analyst still reckons this will outperform the market this year. I'm holding long term. If funding can be agreed with the banks on good terms this share could rocket. Ever hopeful!

In the absence of any news, some old stuff from November's edition of Oil Barrel to help you keep the faith. The last paragraph is significant re Vitol's interest in Azonto. http://oilbarrel.com/news/rialto-energy-nails-down-a-new-psc-which-paves-the-way-for-the-development-of-the-gazelle-field-in-cote-divoire

Noticed that too, don't know what's up. I don't trust the MM's either. A guy on the KDR board bought over 400,000 shares in the morning but didn't show up until the afternoon as a sell. Blue skies here today so hope it's an omen. Might go a dander. Oh what a life we idle poor have.

Morning TRV/PK Keep the faith. AZO was trading at 0.025 then a trade of over 800,000 went in last night. I'm sure it must have been a buy as paid 0.026. Maybe somebody is in the know about possible news. I never knew anything about this single trade malarkey until a few days ago. I bought KDR and their BB is full of speculation that it signifies the release of news - sure enough they had an RNS this morning.

From our old friend (enemy to some!) Treacle now resident on ADVFN. Might lift the morale for all holders. SUMMARY – A COMPANY TO WATCH New management and board who have delivered individually and collectively : •Vitol partnership in Cote d’Ivoire completed •PSC in Cote d’Ivoire successfully re-negotiated •Successful placing raised US$13m in July, bringing quality institutional investor base Now looking to the future: •Active programme with near-term focus on Gazelle project •Actively considering new assets/businesses in West Africa, focus on discovered hydrocarbons 12.20 pence Notional Valuation. Assumptions Petroci back in for additional 16% Gas price set at P90 NPV b/even •Reset after 4 yrs Oil price $90/bbl Production start up July 2015 Includes contingent well in 2017 ($44mm) Bank loan finance of $110mm Outputs Project pays back in 3 years Project NPV : US$117mm •Azonto NPV : US$44mm - Vitol providing project “equity” We are funded for 2014 too.... Cash at 31 Dec ~ US$8mm (unaudited) •Significant number of one-off residual payments during July-Dec 2013 •Expecting US$3mm in Jan from Vitol loan (refinancing of existing Vioco inventory) Funded for 2014 assuming no material additional equity contribution to Vioco •2014E Azonto G&A (ex Vioco) approx £3mm Gazelle development notionally fully funded: •Budget $190mm (excluding debt interest) •Funded by Vitol Loan $50mm, Petroci $30mm, bank debt $110m •Active discussions with banks under way •Petroci have expressed intention to take up their paying interest post EEA BLOCK CI-202 : EXPLORATION POTENTIAL At least 15 potential drilling prospects of which 5 are stand-out prospects Prospect, Gross Mean Prospective Resource Condor Area, 999bcf 20 mmbbls Faucon, 118mmbbls 79bcf Hippo North, 242bcf 5mmbbls Chouette-E Area, 168mmbbls 462bcf Arius, 227mmbbls 114bcf

Long time eddyojb since anyone has been positive re RIA/AZO. Don't imagine this can keep falling and would be a good entry point. Pity you don't have funds. This should turn round this year although may take a while. Today's trade was a buy not a sell.

Trv see what you mean about SULA. - up 54%! Funny enough I bought 200,000 KDR this morning after a lot of soul searching. Can't really afford to lose much more cash but took the plunge. No sooner bought them at 2.65p the bid went to 2.40p. Was down £500. Within half an hour up £1100 before eventually closing at 2.95p for a paper profit of £600. No doubt down tomorrow but I'm enjoying this roller coaster of a ride. Bit of entertainment tomorrow (if they go up). Small miners do seem to be going well at the minute. Not a sector for widows and orphans though. Huge gains if you time it right so worth a punt if you can afford to take a hit et al Azonto! Chat tomorrow. Don't work too hard.

Trv123 - Missed opportunities eh. I know the feeling. Bought 6700 GWP at 77p just before they took off. Sold 3700 at 141 and the rest at 231. Now at 257 with more to come by the looks of it. Just issued another 2 Rns's - 2 investment companies just upped their stake. They raised $50m on the Nasdaq a couple of weeks ago and the yanks having been buying ever since. I might buy back in. Plenty of upside to come imo. Have a look at their fundamentals. Impressive. If the yanks legalise pot this will really take off. Hope I'm not accused of ramping. Just that I've done a lot of research on it and want to pass it on. Stupid for selling.

I need a price of 2.20p to break even. Had 2m shares but did sell 250,000 at 2p quite a while ago to fund another share. Down £14k at the current price so no intention of selling at that sort of lost. Its sh*t or bust! Drops below 1p I will be back on the booze (off it 2 weeks). GLA

Click on AZO Live RNS above then click the RNS which has a link to their new website (which aint finished yet but will direct you to the RIA site). On the left hand site of their web page you will see 2014 Presentation. Have a read before you sell. I'm holding for the long term.

I'm quite pleased with the presentation but as no expert will be interested to see how the ASX will react tonight. Glad to see their focus is on shareholder value and they are actively involved with the banks to seek funding (always worried they would issue more equity - may still do ?). Also a bit of realism has set in and they have set themselves realistic goals and none of the pie in the sky ambitions of the previous board. 3.8p is not a fortune but I would be more than happy with that in the short term with more to come down the line. Like the assumption that the project pays back in 3 years. This share has huge potential. Wonder if Vitol will try and buy them out ? Assumptions  Petroci back in for additional 16%  Gas price set at P90 NPV b/even • Reset after 4 yrs  Oil price $90/bbl  Production start up July 2015  Includes contingent well in 2017 ($44mm)  Bank loan finance of $110mm Outputs  Project pays back in 3 years  Project NPV : US$117mm • Azonto NPV : US$44mm - Vitol providing project “equity”

A 25% spread is way too big. Was interested to see what the actual buy/sell price was yesterday after the bid dropped. Quoted 1.41 to sell 250,000 & 1.26 to sell 500,000. Don't know the buy as no cash left! Hanging in until the shares hit at least 5p. Should get there but my only concern is they need sheds load of money to get the gas/oil into the Ivory Coast. Might get some update today on the gas pricing progress with the government.

Hopefully some good news will come out of the presentation. Was looking at ASX last night. Only 3 trades. 2 x 100,000 sells at 0.026. The last trade for 40,000 was at 0.029. A £600 purchase moved the price 11.5% !

PK - Treacle got your email. He said he will get back to you over the weekend.

3 large buys just gone through. This finished up 7.4% on ASX last night. We need a positive RNS to get this thing moving again. GLA PK - Had a quiet break. Treacle hasn't posted on ADVFN for a while but I will ask him. Trv - Your post has disappeared. I feel like the UN trying to keep the peace between Treacle haters/lovers!

Same to you PK. Huge spread on this which is deterring trading. The bid is in line with ASX. Very little trading in Aussie land. Don't know which market is wagging the dogs tail. The sale today at that price is surprising. Need a positive RNS to get this going again. Anyway hope you had a good festive season.

Same to you Trv. Yeah not bad. Over indulged but I suppose most do. Taking January as a dry one to give this old liver a holiday.

Morning all hope you had a good one. Rob Shepherd said at the Oil Barrel conference that he had to change the name because when he spoke to any potential investor etc once he mentioned Rialto they didn't want to know even though there had been a complete change round in management. He also said they would be likely to solely concentrate on Africa in the future and the name reflected that. I googled Azonto - its an African dance. Hope we will be dancing with joy this time next year on the recovery! If not I'm relying on CBUY and AMER to dig me out of a hole.