Member Info for itisagame

7.86% reported 1st oct- the day before the flow test rns, they will be lower with what they sold on Tuesday, prob have another rns coming tomorrow and be in the 6%s or even 5%s

Has even sent his wife over to help Clon out lol “Melania Trump: US first lady arrives in Ghana for solo Africa trip” https://www.bbc.co.uk/news/amp/world-africa-45717641

22% water then down to 6% on second test could the water % drop further the more they extract from it?

“Horizontal Well Balcombe-2z Flowed at 853 Bopd and 1,587 Bopd During Separate Test Runs”

Had a 1 trade Thursday and 1 x rns on Friday Had a 2 trade Friday and 2 x price monitoring rns today. What’s next :)

Been trying to buy or atleast get a quote for a while and it’s been NT all the time unless I wanted £30s worth at 2.2.

2nd price monitoring rns

Wow.

A nice morning, Still a way to go to brake even on my lithium rns buys at 0.62/63p trades lol !

Never mind, the More up to date one was the map on the Ghana pet site map dated sept 2017, (clons map dated 2011), can see the remaining area that Clon has the interest in. Another little thing that would Be nice for Clon to update on the website.

I know they changed the licence area but is either map correct? http://www.clontarfenergy.com/App_User_Files/file/Licence_location.pdf Vs The One on the Ghana petroleum site https://static.wixstatic.com/media/aed7dc_867edb6e45bb43c4a49fce6b0e273e9b~mv2.jpg/v1/fill/w_560,h_392,al_c,q_80,usm_0.66_1.00_0.01/aed7dc_867edb6e45bb43c4a49fce6b0e273e9b~mv2.jpg

Just rereading a few websites & points posted over the last week, this part caught my attention, it will be interesting to see what companies are bidding for similar assets in the near future. https://www.ghanapetroleumregister.com/licensing-bid-rounds-and-negotiatio “The Committee has been tasked to complete all preparatory works by August 2018 and start invitation of prospective bidders between November and December 2018. It is expected that by the end of July 2019, oil blocks will be awarded to bidders.”

Am I reading that right the only large outstanding cost in there is that £1,026,000 in back pay to directors? The rest are only small amounts. “Other payables relate to remuneration due to directors' accrued but not paid at period end.”

“All outstanding issues have now been resolved with GNPC on our Tano 2A Block. The signed Petroleum Agreement is now being sent to the Cabinet. All legal proceedings have been dropped and all issues resolved to our satisfaction.”

PET is well in the move today now up 20% at 2.8p even with £400k taised there today add the £500k here last week and there’s £900k raised mainly for funding the Ghana project.

Scrap that I see purchased for nominal fee.

Just having a quick look through the RNS’ Can you confirm my quick read and understanding - did PET buy back 16m shares and cancel them in August (-£250kish) when sp was around 1.6p and place 21m shares at 1.85p (+£400k) ? So contra entry it and you get +£150k / 5m shares difference = 3p / share. So the directors traded its shares to benefit shareholders ?

They would have struggled to do placing pre price rise as it was under the 0.25p par value of shares. So the placing was still done pretty close to the lowest price currently possible, without an the time, cost and effort of an EGM, vote to restructure the share par value (consolidation and subdivision etc etc). Will never know if it was Ramped to get the placing out or used to get volume out at mates rates for a few.

Out of interest any guesses for how much has been spent on the Ghana project so far over the 10 years?

Very Nice. Fingers crossed onwards and upwards. “*** The signed Petroleum Agreement is now being sent to the Cabinet ***”