Member Info for mcadder

It was no secret that we had a 10% WI before today and that there was potential for a future drill somewhere, but Clon raised recently for the Sasanof-1 drill £3.5M and enlarged their share capital by 61% and all they found is water.
So all these words about "potential leads" and "future drills" aren't really going to do much. It's results we need unfortunately and any other drill needs further funds. Yes we have 10% but if a future drill costs £30M we'll have to find another £3M from somewhere.

I'm all for positivity when there is something to be positive about but please tell me why you think that this is a very positive RNS this morning?
Basically all it confirms is that after all that money spent they encountered water and not one jot of hydrocarbons but they continue to review other potential leads, presumably more calls for a cash raise coming soon then....

I think so too

Oranolio - I take it from your posts you are that Lloyd fella on Telegram. Lots of people are significantly down on paper as a result of that drill, we all knew the risks, the COS, this could very easily have played out differently but it is what it is, but let me tell you - there ain't no fraud. You just want to believe there is as you're after someone to blame.
I can't say I blame David Horgan for not replying back to you as I've seen what you wrote to him and it ain't very nice. No one made you press that buy button, there are other irons in the fire here, my advice to you is either concentrate on what the company still has to offer or just simply fade away writing off whatever loss it is you are sitting on. Having a vendetta against Mr Horgan will not do you or anyone else any favours and you are simply wasting your time with the FCA, there is nothing here for them to look into.
The constant nature of your posting is getting very tiresome and boring, you've made your point and I'd leave it there if I were you fella

Fingers crossed maidit - I loaded up with just over 15M here a week or so ago with the idiot residential trolls well and truly filtered. Any slight whiff of progress and this is primed for a really good run...

Where's your answer inittowinit?

And in the meantime 0.1095p paid for 1.8M shares tick tock...

Inittowinit - please share your obsession with Clon. Let me guess you lost a packet as did many others. Time to make some of it back down at this price...

It was basically boom or bust with the Sasanof-1 drill, company making for Clontarf if it came in and devastating for such a small cap when it didn't. Especially considering that it resulted in 61% dilution with no extra money as it all went on Sasanof. Prior to the Sasanof acquisition the SP was around 0.17-0.25p but that was before the 61% dilution.
The sort of news that will help the SP rally is a breakthrough in Bolivia. However that is months away from any law change. The small amount I have left in here will be left in the bottom drawer for now.

I wouldn't add too much weight to the nominal 0.25p price, that can be changed (i.e lowered) if the bod decide to and I've seen it done before

Yes. The development and commercialisation of a whopping great big blood test for not just lung cancer but other cancers too.....hopefully ;)))

Is this the point at which our US investor's start buying in?....... ;))))

This really is just one disappointment after another, just when you think the company is turning a corner....

I doubled my holding this morning here - averaged down at 0.1069!!!!!

Ok, thanks jonahb ;))

We've all lost money on shares at some point small and large amounts and rare groove is no exception so why the vendetta with he/she?
Is it because you followed them and lost money too?

Well I'll reserve judgement on that claim until we see it in an RNS but it is now getting mentioned by more than one person on advfn now.....

sammy aftal - 04 Jun 2022 - 16:50:54 - 11 of 12
"Yes I have just heard from my contacts over there a rumour that they have hit a monster as well. A very large column of high pressure apparently!!!!

They are drilling on to the second target at the moment.

Looks like this will be a great ride. Here we go!! Bring on Monday

Its massive.. upper end of the TCF scale."

No it hasn't, but the business case for the project going ahead is significantly strengthened from a finance perspective with substantially higher gas prices and the vast underinvestment in oil and gas last decade or so which is now very serious issue. Surely even you would accept that? Given the current climate, they'd have no problem raising $100M through non dilutive debt financing eh?

That article was from 2yrs ago..... a LOT has changed since then.... "If Western Gas' Equus LNG project does not take off in these tough times" is what was written in that article.
The situation with available gas, the demand and short squeeze globally now mean there is absolutely no chance that the development of those wells won't happen!

Based on current Mcap - if we get confirmation of not only a gas discovery but an estimate of 7 Tcf then 100-400% is seriously undervaluing it. You can expect a value gap uplift of anywhere from 1000% - 1500% over time with a resource that size and that's taking into account our 10% share of it. Plus Clon is no one trick pony

This is why I put a decent chunk in last week, this taken from a well researched individual posted on the ASX PRM group earlier.....

OldGeo
1,082 Posts.
04/06/22 13:24 Post #: 61820047
Hi Andy355,
"To add to my earlier post, here are several more insights from some additional research that I like. This is why I increased my share holding on Friday;
Sasanof-1 well location has been chosen on a 4-way dip closed structure--------this increases the chance of gas at least in the 4-way dip closed part of the prospect (structural and stratigraphic trap).
The top seal at Sasanof is confirmed at the nearby, downdip Mentorc Gasfield. The westerly, up-dip, lateral seal is the key risk
Sasanof is covered by several, high-quality, modern 3D seismic surveys. The Glencoe 3D survey is the most technically advanced and analysed data set over Sasanof ----- This increases the likely that the subsurface interpretation is of a high quality (less chance of incorrect interpretations).
The reasons for recognising Sasanof as a significant gas play, is over that 20 wells in and surrounding the Equus blocks have been used to calibrate the Glencoe 3D geophysical response. The data is now considered of excellent quality.
An industry leading seismic processing company, DownUnder Geosolutions, concluded from its Quantitative Interpretation study of the excellent quality 3D seismic data, that the updated lithology and fluid predictions confirm the prediction of gas in Sasanof.
We'll know early nest week!!!!
Good luck all.
I hope I am not been seen here as an up-ramping geologist here.......

Kind regards OldGeo"