Member Info for Fingersandtoes

Thanks again Astonmartin1..
Just for clarification in terms of profit to Clon - if we assume 1B Barrels
PMO recently farmed in to 88E Alaska field (where they assume at least if not more than 1BB) where they will fund the well drill to $25M and they have taken 70% of the well for that, leaving 88E with 30%. If we assume our licence will have 1BB and collectively (CLON, PET and the other partner totalling 100% currently) have to give away 80% of the licence to a farm out (as Clon says it could cost $30-40M to drill the well - so a bit more that 88e's well by PMO) then we will have collectively 20% remaining i.e. 200MB. If CLONs share of that is 60% then we would have 120MB. If we have a profit of $20 per barrel (with oil at current $55/b) then we would have a profit of c$2,400M. Cl says that the field could be multi Billion Barrel - so even better.

As we have the PET billionaires owning 30% they may decide to fund the well so as to achieve a bigger share of the profits - if they wanted to go down this route then it would be best for them to own 90% of the licence I am sure. A takeover may be paid in PET shares but that may dilute their own holdings in PET too much so may decide to pay in cash.

All pure speculation on my part and all dependant on Ghana ratifying the licences. Please Do Your Own Research before investing ......

Thanks Astonmartin1... just to add to this...

It is very interesting that John Teeling, Chairman and David Horgan, Director of both PET and CLON have recently been given 10M share options at 0.7 pence. Intersting that they did not get/allocate options in PET. Was this due to the fact that CLON owns 60% of the Ghana oil licences and that is where they see themselves making a lot of money buy allowing the 2 billionaires own most of PET and allowing them to find some of the funding or farm-in for getting Ghana off the ground - but not letting them (the billionaires) have a share of CLON? Another option may be for the controlling PET Billionaires to buy out CLON so that PET owned 90% of the licence. But as we have 60% and they only have 30% then it would need to be almost a reverse takeover as CLON would be more valuable than PET - I am excluding the other PET historic oil resources in IRAQ as I am not sure what value these may have and it may be that that is what the billionaires are also interetsed in. Hopefully all will becoem clear soon and good for CLON.

This could be us once we have our deep water licence - what would our MCAP be and our SP. If Tullow farmed in then how much of our 60% and how much of PET's 30% would we have to hand to Tullow for them to fully fund the drilling of the well - if say we all had to hand over 70% of our licences then we (CLON) would still have 18% of the well - and if it turned out to be a 1B Barrel well (Clon has said could be multi Billion) then if we could own 180M barrels at no cost to us then our profit would be £1800M at £10 a barrel and if it's a multi Billion oil feed then all the better........so versus our current MCAP of £8.4M - a fair bit of upside I think -:)

https://www.dailymailgh.com/ghana-discovers-over-1-2-billion-barrels-of-oil-in-deepwater/?fbclid=IwAR18BDN6DlrLtTVXshzsGmG_JY2CqTZXXLgT6x_DrQFJYQTVixuWgW0Bqgg

Aston, if we get the news that the licence has been ratified then this will multi-bag. GLA

Older....

If you go onto Youtube and search for 'the following:

Clontarf Energy's 'time has come' as it advances Ghana and Bolivia projects'

it will provide you with some of the reasons why we are seeing such a rise. When our licence is ratified in Ghana then this will provide us with a potential multi Billion barrel oil field. Also, there is potential that we will get the original oil field that we should have been given some years ago but which was given to Erin Energy instead (who have since gone bust). Add that to the fact that PET now have 2 billionaire owners (with 51%) who have 30% share of our CLON licence (we have 60%) then with their backing we will hopefully then get the funding support to drill our well. That may include a farm in from the likes of Tullow. So compaire our MCAP of £9M against 60% of a multi Billion barrel oil well.

A bit of news from earlier this month that may have been mentioned before, Tullow wants extra license in Ghana - so once our licenses have been ratified then Tullow must a strong contender for farm out

https://www.modernghana.com/news/965341/tullow-to-meet-govt-for-new-oil-block.html

Lucan - fully agree, and so long as the placing is for the right reason it could work wonders like it did for PET. It would be best if the sp rose initially by a large amount just on the licence news and then a placing if needed.

Mann - I don't think I ever saw a RNS re share price movement for PET as it climbed from 0.85 to 20+, so hopefully don't need one for CLON as the business had already explained that this is CLON's time

Hi Daltry,
Ha - I can dream about it at least. I will take you up on that offer when they reach 700p.

but seriousely, I am hoping for a large rise in sp if the JORC shows a signifigant rise as the Sept RNS mentioned a few times. Hopefully we will hear news soon of the update JORC.

We could do with Oli Garch taking a share in the company or a Saudi Prince (as in PETREL) - that would do wonders for the company.

Would be very nice if this were true...
If you google

amur minerals share price forecast target

It says that a broker forecasts Amur to rise to 1064 pence. God knows where that comes from but would be very nice - lol

Bonker99 has done an updated chart on his site with potential target points (4.4p next) - so I am hoping that the statement in the RNS of 30th September 2019 "The Company expects that this will substantially increase the current JORC mineral resource estimate of 155.1 million ore tonnes.~ comes true and that the new figures are a very substantial increase in resources.

To see bonker99 chart go to address below and then see AMUR
bonker99.com

Can still recover from here with an aim for 3p+ as next step up so long as we stay over 1.3p see Bonker99 chart

bonker99.com/charts then see KEFI

Degsy, thanks that is a really good article.
I think that when Harry says the copmpany will have a MCAP of £200M in a year he really means this. Harry has been around for a long time -was head of EMED (now Atalaya mining) and built that company up before handing it over in 2013 - now a £260M company. So Harry is very capable and I feel will not be happy until he has increased KEFI to a similar size if not bigger. In terms of his approach it seems very professional and ensuring that he does things properly so that the communities and the country are on his side (e.g. dealing with compensation for Ethopian re-settlement and the new Mining education announced recently.

While I think that everyone, including myself, love the sound of Gold it could be that the Saudi copper could be just as valualble. Barrack just last week said it was in the process of selling some of it's gold mine resources so that it could buy ore Copper resources. It has a copper mine about 200km north of our Saudi licence which has CU at 1.2% (same as our assay results so far) and In 2014 Ma’aden paid $210M for 50% - and we have 23 more VMSs to check-out. So, although we may have more to do to convince anyone it could become a very interesting JV play with Barrack.

Add to that the fact that we do not know the size of additional resources under our Ethiopia mine and further along our licence (which Harry has said that Kefi will explore once the mine is underway) then we also have our potential mine 50KM south of Tulu -
'Potential for 10-20Mt at 1.5% Cu; (15Mt at 1.5% Cu at $5000/t Cu = $1.1Bn insitu metal) ' - this was at 2016 values and Cu is much higher now.

If you add all of that up then must come to at least £200M MCAP IMO

who do not wish to join us on the next stage of this amazing journey please go ashore now as we will soon (IMO) be setting sail to the land of Gold..
-:)

Don’t want to ramp (and don't think I am) but…I still think that HA's target of £200M in a year could be realistic. In addition to Tulu Kapi we have 200sq KM of licence and HA has said that once the mine has started to be constructed the other areas can be explored (not his exact words but in that manner). Also, around 50km away from Tulu is an estimated 'Potential for 10-20Mt at 1.5% Cu; (15Mt at 1.5% Cu at $5000/t Cu = $1.1Bn insitu metal) ' - this was at 2016 values and Cu is much higher now. Barrack is after more CU.
In Saudi we have to see the Gold Assay results – last time they were from 1.9g – 8.7g/t, which would be good. Barrick’s Jabal Sayid Mine (which was discovered as a VMS), 99M t 1.2% Cu; 118,000t Cu. In 2014 Ma’aden paid $210M for 50%. Our HAWIAH mine (about 200km south of Jabal) has shown the same 1.2% Cu. and we have 23 more VMSs to check-out.
So if we add all of these up and possible JVs in SA or ET then who knows….

I must be getting greedy - there have been 9 RNSs this month so far and it's only 20th Nov - but I want more!!!
Please Sir (Harry) can I have more?
Just a reminder of what a beautiful nugget from our mine looks like - here is a 350g nugget from our mine in Ethiopia (far left)
https://www.mindat.org/loc-290930.html worth about £12K - so lets hope there are plenty more of those to be found.

Too late - out of the bag now - no stopping it anymore -:)

Looking at the chart and movements - looks like a coiled spring being wound up and up ready to shoot upwards. We should have some news by Friday IMO. GLA

Yes very nice find Akramms - many thanks

Andy - nice article. 48 UK tonnes equated to around 1.7m oz and if that is what we have then at around £1180 per oz comes to around £2b, we get 45% of that so say £900m minus our costs. Nice.