Member Info for ogm4

According to ft last Thursday's volume traded at day of placing was a cracking 207 Million shares and on Friday still nearly half: 80 Million...

There is another Equatorial Guinea bidding round coming up soon in a few months time, which could be interesting for Clontarf and others. Also the majors recently have been stimulated by the EG government to invest more in the offshore development as they mean serious business. Clontarf have been awarded Block 18 in last year's Equatorial Guinea bid round, but who knows we'll see some more developments coming in soon.

Indeed, I find it amazing that 135 MM shares got swallowed in one day almost, normally the overhang takes much longer, sometimes up to several weeks. Bodes well. For every seller there is a buyer so sufficient interest then.

Petroleum Hub of West Africa: How competitive is Ghana’s bid?
Source: Ghana | Kwasi Zigah | Head of Marketing, PETROSOL | Email: kwasizigah@yahoo.co.uk
Date: 16-07-2018 Time: 02:07:16:pm

www.myjoyonline.com/business/2018/July-16th/petroleum-hub-of-west-africa-how-competitive-is-ghanas-bid.php

According to lse CLON's current mc is £2.18 Million, which is absolutely dirt cheap. Even the smallest sign of positive news on JV/ farm-in news will catapult the mc easily to £10-20 Million region. Look at many others named before BPC, MATD, UKOG, ANG, 88E, FRR, etc.
We know there are many oil & gas plays nearby in both Ghana and Equatorial Guinea, as well as many majors and medium sized players who already de-risked the wider area.

The sector is heating up again after 5-6 years of global dowturn... Exxon Mobil https://www.oilfieldtechnology.com/exploration/01032018/exxonmobil-pursues-ghanas-deepwater-exploration-acreage-says-globaldata/ Tullow https://www.oilfieldtechnology.com/drilling-and-production/04012018/maersk-drilling-announces-four-year-contract-with-tullow-ghana/

Did people actually consider the following? Looking at a few Ghana offshore O&G maps you'll see the water depths within CLON's concession block are in fact reasonably shallow compared to deepwater further down south, being only 100-150m max or so. Hence there is a great window of opportunity here to be able use a standard JU opposed to a much more expensive semi-sub. Big positive imo, as it reduces the initial capex by a considerable amount, They have much cheaper dayrates!

https://www.rigzone.com/news/oil_gas/a/68214/tullow_spuds_ebony1_in_tano_shallow_license_offshore_ghana/

"We now await the Ministry to implement the agreed settlement and process the same expeditiously."

that should be the remainder done really

Offshore upturn to continue through 2022 09/20/2018 www.offshore-mag.com/articles/2018/09/offshore-upturn-to-continue-through-2022.html

Ghana maximises oil wealth www.theoilandgasyear.com/articles/ghana-maximises-oil-wealth/amp

buy at 0.40p+

today we could be clear of overhang, otherwise Mon/Tue...

Placing out of the way now, looks like majority of 135 MM shares was already flipped yesterday in 2 hrs time.

"The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects." ...."ongoing negotiations regarding the Company's Ghanaian assets...." Are they in talks with 3rd party ?With whom ?....

Another £28k buy just pops in...

4, 5, 10 Million shares in single trades

also £28k buy...

many larger trades coming in now

onwards and upwards !! no more bs about placings please !