Member Info for Moreforus

Wale149 - 2 Feb'10 - 15:03 - 6827 of 6828 I understand that an announcement regarding an agreed deal/deals have been postponed due to the announcement from the Nigerian government fining companies for gas flaring. Afgas etc instructed Gasol to go back and renegotiate contracts that were not finalized as the announcement puts Gasol in a much better position regarding deals. Originally it was estimated Gasol would make announcements in January but this has been delayed due to this. It is however very possible that announcements may start coming out as early as next week but no one is actually sure because Gasol is now driving a hard bargain due to its current strength. Things are very upbeat at Gasol at the moment and they fully expect this to be their transformational year. Makes sense really as going forward with the new rules in Nigeria Afren cannot grow without Gasol playing a significant part considering Gasol have exclusive access to "all" Afren Gas. Afren is currently selling Gasol to its indigenous partners as a way to comply with the flaring rules. As always I remind you these are rumours though most of the rumours from this source have come true so far but I still advise caution and wish you all luck. I normally post the information on the Afren board but moreforus suggested I should post here as well in case you were wondering what I am on about. PS. in the next financial statements expect to see a significant drop in Gasols cash burn.

marked up pre market and buyers ... Nice! =============================================================================== Active 2010 work programme 19 operated wells (exploration / appraisal / production) in firm schedule for 2010 Phase 1 Ebok development - 15,000 bopd (7 wells) Accelerated Phase 2 Ebok development - 20,000 bopd (6 wells) Okoro infill drilling, Nigeria (2 wells) OML 115 exploration, Nigeria (1 well) Ebok deep exploration, Nigeria (1 well) La Noumbi, Congo (1 well currently drilling) Okwok appraisal, Nigeria (1 well) OML 115 is in the translational structural setting of the prolific offshore eastern Niger Delta, surrounding the Afren - Oriental operated Ebok and Okwok development area and close to the giant Zafiro Complex. The southern portion of the Okwok structure (Okwok South) extends into OML 115 and significant additional prospectivity has been defined within the channelized Qua Iboe system. Afren estimates gross unrisked resource potential of 270 mmbbls based on prospectivity defined to date. Zafiro is the field GAS is jving with Eq Guineas state oil co...

good to hear re angm .. that silly fd note shook a few out but as production is expected and should be announced (of course nothing in life is guaranteed) within the coming weeks selling imho would be like handing a cheque over to the mms... back to GAS they probably have 1.5 mill cash now..they were tapping the last fund raising in 3 tranches last year and i think the cash should see them through for at least 6-9 months..however as they are supposed to have the strategic review q1 2010 - you cannot make a commitment like that and not deliver...also it's important to distinguish between cash for GAS and cash for GAS projects - any project they do will be a jv and project financing will be raised vs future receivables on a project level. There is a lot of good news but it is still speculative, however if we get a deal announced its going to be hard to buy however there will be a good reason anywhere below fair value.

ANGM had a confusing and inconsistent brokers note from fox davie which triggered a few to jump - however edison has current fair value ie what its worth today as a fully diluted 9.5p...i can see that rising over to the end of march to 10-12p. This is probably one of the lowest riks highest reward plays in small cap land - ie they are funded to full production and will be in production within the next 1 to 3 weeks. The sp does not reflect this and i would not worry about dilution - believe me it is in the sp. The ceo is trying to raise funding to unlock black angel - with a working gold mine he's going to have a much easier job plus he wants to raise debt and not equity to avoid dilution for current sps. Apologies to the GAS bb as it is o/t but its a real no brainer - whatever you do the sp will increase over the coming weeks simply as the sp is in an uptrend with improving fundies and delivery on promises. back to GAS they just raised 1 mill funding from afgas in the form of a convertible note, so their immediate day to day costs are taken care of., also last week (the main reason for the rise) energy minister Lukman (ex-GAS special consultant) signed a MoU re flaring with 13 invetsors (ie oil cos) in Nigeria - so whatever people do buy or sell that is still a fact that is positive for GAS and the type of business they are hoping to do. I think lit is a 3 bagger but the risks are lower than a few weeks ago as we are now funded and the business environment just got a lot cosier in Nigeria.

LOL! hindsight is always the best investment tool...there was not a lot of joy across the markets today as the 1st correction of 2010 set in - GAS for better or worse will be news driven and between news people will sell , you need to judge on a risk reward basis when buying any share - is this worth holding for 1,2 3, 6 months in order to get X% return.... i know its no consolation and i know our resident gas hater will laugh but looking at the chart, volumes, the buy and sell limits the stock is still not being offered in size ie a few hungry buyers or better still news we will move up sharply and quickly...all the smoke and the current facts will come to fruition this quarter as they've committed to a strategic review which means they expect to deliver... have a good weekend...

low volume .. can sell 250k but only buy 150k at 2.77p...iwe ae still awaiting news and when people say 6-8 weeks that in a pi's head is 6- hours....ie some v low volume selling today but no large trades

people buy in expectation of news and the rise was based on a large buyer of a line of 2.5 mill shares last tuesday taking all the liquidiy out of the market, this was followed through on Friday by 2 further 500k buys. the market rose and then someone posted around the bbs news that the Nigerian energy minister had signed a MoU with 13 investors to stop them flaring gas and reuse it for a variety of purposes - as this is the exact nature of GAS's business in monetizing stranded and small scale gas assets economically in the exact part of the world where GAS is trying to do business. Also energy minister Lukman previously was a special advisor to GAS so he knows all about the company and what it can do. IF there is a deal annpunced for GAS is will get rerated - npv has been estimated by edison as 7.5p. Of course thats 200-300% higher than where we are today but hey ho facts is facts and thats what people are buying in for.

any comment?

dont know why

there have been 3 trades today 2 sells of 67k and 250k and then delyed buy reported of 500k - it as duped .. level 2 has firmed so we are now 3 vs 1 with only 1 mm left on the offer at 2.6p the mm who joined the bid was Panmure Gordon our house broker - always a good sign if he wants stock ,maybe somethings cooking.. it looks like we have a buy order being worked - there was a 2.5 mill buy at 2.49p only reported after several sales ie mms have some stock but not to go in the buyers size or price currently you can buy 250k at 2.475p and 700k at 2.599p so stock around but not too much sub 2.5p...

t2buy we ticked up no volume so i get a feeling another large buy order could be being worked...

i hope so.. but the large buy was reported after some seliing so its an order than has been worked on for a little while soaking up all the sells, the market dropped on the bid as someone sold 250k but someone also bought 406k at 2.47 ie we had more buys and sells. lets see what tomorrow brings.

if it is the news that has been rumoured and expected then we will be woth 7.5p as per the edison note - thats conservative fair value- expect he might update his research note soon. i dont think buyers are in for a fraction of a penny but to multibag.

2.5 mill buy at 2.49p opinion : somethings cooking - could be insti or director buy..

i;ve kept my yap shut - however there was news yesterday which was positive so its valid to discuss - i wont post here again untill the next rns.

sjyehigh is our resident GAS hater - good news is bad, up days are fake and down days are to be expected... for a more balanced view read the edison note and then decide... http://www.gasol.co.uk/uploads/gasoloutlookseptember2009[0].pdf

if you read the edison research note it describes the rosy future but the need of short term funding...so what do you think? is the risk lower or higher now?

see yesterdays rns - they just got a 1 mill funding from Afgas...

funding has been an issue for the last 6 months - noone would invest 1 mill quid on GAS as a loan unless they though that they'd get their money back ie there's a deal coming with AFR in Nigeria or more than 1...

its operational cash and not investment money - looks like all the rumours are coming slowly but surely to fruition.,