Member Info for Moreforus

don't forget NG is seen as a cleaner alternative to other fossil fuels -> also from an environmental perspective GAS can cap and monetize gas currently being flared, especially in Nigeria where it causes the locals untold health and environmental damage - something Shell doesn;t seem to care about and GAS combo are seen as offering a viable and cheap and fast solution.

bounce on further rumour re Persistant rumours of GAS/AFR link with Sinopec, courtesy of Wale149 on the AFR board Wale149 - 21 Dec'09 - 13:35 - 59538 of 59538 Hello all, I am back with a rumour update. I have not read back recently so I am not sure if anyone has noticed that the rumours that have been making the rounds regarding Afren/Gasol that I reported a few weeks ago have begun to come true. There appears to be a lot of activity at the moment and loads of stories are coming out. the latest word is that some members of management from Afren,Gasol & Afgas recently went to China for a meeting with Sinopec and then headed to Abuja to meet with Rilwanu Lukman and the Vice President. This came from the same sources as the last rumours mentioned. Speculation is that Lukman and the others are positioning Afren & Gasol for the inevitable transfer of many of these assets to the local companies. The thing is no one is sure if this will be in partnership with the chinese given recent developments or if the oil majors will just take a back seat on some of these fields and just provide funds or even dealings with both. What is quite sure is that negotiations are going on with all possible parties to try and exploit the best deals for the independents who all of a sudden have more of an upper hand than they did. Flaring is no longer an option so very shortly Gasol is expected to make a series of announcements regarding new deals. I have heard many times Afren has no intention of taking over Gasol at this time and will continue to fund working capital as needed to benefit from the new climate. They also understand they will have to monetize the Gas using Gasols technology to fully benefit on the oil side and will do similar to what O&O are doing using gaslink for both domestic and export, the difference being O&O's benefactor is the former governor of Lagos whilst Afrens benefactor is the most well known and most powerful oil man in West Africa. EDF or Eon, I am not sure which as the story keeps changing depending on who you speak to or which paper you read are currently talking to both companies as they are seeking to take part in the new policies regarding local production and consumption of gas in Nigeria as well as the export. The strategy at the moment appears to be to leverage power and connections and put as little capital as possile but that part is just my opinion from all the noise at the moment. Whatever the case 2010 will be very eventful for both companies and it appears things will kick off over the next few weeks even before the PIB is passed. I hope I was able to convey whats currently being reported and you can make sense of my ramblings. As always I remind you that these are rumours and should be taken as such though considering recent events it is a case of so far so good. Good luck all

they've just appointed Panmure Gordon today as their NOMAD - ie nominated advisor and broker ...this is the same now as Afren and it looks like more smoke moving towards re the mooted deal with AFR in Nigeria.

looks like a couple of other shareholders agreed with you re the sp but rather than moaning about it took some action - clearly he was not delivering. the management cull has been rumoured as the 1st part of a massive gas deal with AFR in Nigeria - i think the Equotorial Guinea stuff is misdirection from the deal however we could all be getting what we want soon:- this was posted on the 26th of November on advfn AFR bb... Wale149 - 26 Nov'09 - 14:35 - 57020 of 57024 Just to let you guys know the rumour currently doing the rounds here in Lagos. It is being said that Afren are just about to finalise some sort of acquisition that involves both oil and gas and an announcement is to be made within the next month or 2. Gasol is to be a big beneficiary of the deal and are expected to operate the gas side of things. There will also be a third party involved as well. It is also being said that in preparation for this there will be an organizational restructuring of Gasol which has already begun from what I understand. Afren is said to be making staffing changes at Gasol to get ready for this and this could extend to management changes as well. I stress that this is only a rumour"

i'll have a look but would need to sell something to buy and i'm fully vested in my preciouses... just a general point here -> CLEA is a typical illiquid small cap - the only time to buy is when everyone else sells and sell when everyone buys - which is counter-intuitive but i think sellers are trapped longs and t-traders who thought (like me wrongly) we'd carry on up through 3p. I'd only buy with cash and be happy to sit on them for at least 3-4 months until the March update.

there were some sales today - net 350k to the market ..howeever as they were short there's 250k now on offer at 2.45p. not many stocks escaped some forced selling - i hate days like today when the good gets chucked out with the bad. yesterday there were 200k sales and they dropped the market to 1.75-2.5, however today we actually had a mm firm on the sales so we are 2 vs 2 into the close. if you are going to buy do so with a minimum of until the March update target - we will see then what effect the purchase has had on revenue - although there is a chance of a broker update before.

think this will 5 bag within 18 months ...you can only buy stock through a negotiated trade - either fill or kill or limit.. think there is plenty of safe upside for the patient

they jsut bought assets worth 6,4 mill quid for 2.7 mill quid CLEA is up 21.4% currently and still has a ways to go

The total consideration of GBP2.7m is being paid in cash from the Company's own resources and existing facilities. The Directors believe that the book value of the assets acquired were recorded in Relax's last published accounts at a value of about GBP6.256m and as such the total consideration is equivalent to approximately 40 per cent of that value.

so we want the same thing

i can buy 100k at 1.95 ot 150-250k ast 1.69/7 - this has been the lowest entry price for ages

but that's good for you as you will be able to sell i thought

100k shares left at full ask just retaced all of yesterdays fall

i do not see how posting a new items published yesterday on the GAS forum is a "ramp" - i didn't write it - i didn;t even find it - however thought it was genuine good news for GAS but hey ho i know you don't like good news.

Projects Attract Gas Giants AEI - N° 617 02/12/2009 Malabo is mulling new gas projects which could involve Britain’s Gasol, E.ON of Germany, Spain’s Fenosa and the Portuguese group Galp Equatorial Guinea’s mines and energy ministry announced on Nov. 18 that it intended to create a downstream affiliate in the country, which presently imports all of its energy needs. A part of the gas that Malabo exports could be diverted to local projects, according to the ministry, as could some of the methanol the nation produces. The Marathon affiliate Atlantic Methanol Production Company (AMPCO) currently exports most of its output to international markets. Those expected to benefit from the new policy are companies that recently formed partnerships with Equatorial Guinea. The British junior Gasol teamed up with the state-owned gas firm Sonagas in a joint venture, Sonaf, that was awarded gas rights on the Bioko field operated by ExxonMobil on block B this summer. Gasol and Sonaf are presently negotiating a gas supply agreement. Another potential winner could be the 3G consortium set up early this year between Sonagas, E.ON Ruhrgas, Spain’s Union Fenosa and Galp of Portugal (AEI 598). In conjunction with the oil ministry, the 3G consortium is hammering out a “gas master plan” along the lines of a project that was mounted by Nigeria last year.

couple of sales ..more buys ..but mms happy to manage this where it is can buy max of 250k so can turn v quickly

ACG a rival to CLEA just got a bid at 80% premium to yesterdays closing price .. CLEA is a better co with better fundies and with a low sp it is now vulnerable to a takeover.

anyone interested in CLEA there is max of 100k now available at 2p.down from Friday 150k and thursdays 350k... think there is either buying off exchange or mms know something re the Relax deal

Nevertheless, a management buy-out team has already tabled a bid, hoping to save 120 jobs at the company. Like most other IVA providers, ClearDebt realised it could not rely on one source of income. In June 2007 Abacus, a provider of the debt management plans that are often more appropriate instruments, reversed into ClearDebt for a consideration of up to £6.2m, mostly in shares. The company also raised about £300,000 at 2p a share. Early this year it acquired The Debt Advice Portal in an all-share deal valued at up to £146,000. That fits in with the company's focus on the internet both to attract and direct debtors to the right solution for their problems. The outcome is clear from its results for the year to June 30. The number of IVAs arranged shot up from 247 to 483 and revenue rose from £1.87m to £3.4m, generating a maiden pre-tax profit of £460,000. Mr Mond said that in spite of the first signs of economic recovery "the man or woman in the street remains . . . on the debt tightrope". It's the same belief that sparked the IVA bonanza on Aim. Whatever the outcome for Relax, in business terms there has not been a more classic case of Aesop's fable of the tortoise and the hare.

The one name that no one thought would survive was ClearDebt, which has remained a micro-cap throughout its five-year Aim career. It was founded and is run by David Mond who, together with his family, owns about 60 per cent of the equity. Its shares closed at 1.88p yesterday, giving it a market capitalisation of £5.8m. Late last week, Mr Mond bought the debt owed by Relax to Barclays, understood to be about £4.7m. Over the weekend, Mr Mond appointed Kay Johnson Gee as administrators to Relax. It seems odd that the head of a rival company can act this way on Aim, but no rules have been broken. Mr Mond insists that he is acting as a private investor and that ClearDebt's board has made no decision on whether to try to buy any of Relax's business from the administrator. The speed of events seems to have taken the Relax board by surprise. Reporting on September 30 a rise in first-half pre-tax losses from £1.6m to £6.8m on revenue of £2.9m, the company said its bankers were continuing to provide financial support, but a capital injection was needed. The company also said it had largely completed the first part of a turnround plan following a strategic review under Ken Gaskell, the chief executive appointed in July. He found the company had been paying premium prices for acquisitions, had poor business and management discipline and was suffering from overmanning and an excessive cost base.