Member Info for originalharrystamper

Yes, I’ve been checking in on it to see what happened. I had a bit of trading balance that I could have used but lien is said, I didn’t know anything about them. It’s only hindsight that makes you wish you had or hadn’t done a deal. Whether I’d have sold at 100% profit is an unknown; I could have been greedy and only made 50% after it fell back or been too cautious early on and only made 25%. Ratification as we all know is the ultimate game changer to the current SP so I’m happy to have put my chips on the table for the gamble as to whether it comes or not. Judging by the trades over the last few weeks, I don’t think it’ll take much to get this moving, whether it’s north or south (hopefully north) and as we see on most boards on here; once the herd arrives we’ll already have taken a seat at the table and they can do the work for us!

I read a RNS this morning (CLCO) that sounded pretty positive but not knowing anything about the company I obviously didn't just throw some money in. I did get a buy quote for 0.79 though at open......... its over 100% up now ffs, Ha!

Bid has been quietly ticking up here without affecting the current share price. BID now 0.38, essentially the spread is tightening as ASK is now 0.43

Can buy higher amount now

Just tried some dummy buys to get an accurate price - I can buy £1000 but not £1500 worth? Anyone else seeing a limit on shares?

creeping up. ASK 0.45

Good strategy, don’t put all your eggs in one basket as they say! I used my profit from QFI to double my holding here so I’m in quite a comfortable position at the moment to weather any dips - as long as they don’t dip too low that is, ha!

Completely agree. It’s a 50/50 gamble to take a position now or wait for a better price which may or may not come. 52 week low was 0.195 July last year but things have moved on in a very positive direction since then so I can only see us going near that price again for one of 3 reasons - 1. Something negative from Bolivia. 2. We have still heard nothing from Ghana by early next year and they need to raise more funds or 3. We get denied ratification officially. They are funded for 12 months from their last statement in May 2020 so to me, its a no brainer to take a position now and edge my chances on ratification being approved before they need to raise capital.

Bid up again now to 0.375 - moving on very small traded numbers so I’m expecting a tick up soon with a few more buys

Thanks for that. Makes sense and explains why the SP would have moved as people rushed to trade it. Speaking of which, I see the first bit of 0.44 has gone through today. Hope to see some more now and mid week blue finish

A few of those today and this may tick up blue

Bid is moving up slightly on every trade, ASK is now 0.44 when I just tried a trade quote so I’d expect to see the next buy around 0.44

Was anyone in this back end of Nov 2019 to early Dec when it rise from 0.4 to over 1p? I can’t see an RNS that justified the rise? Seemed to happen very quickly. Lots of price monitoring extensions though

On a different note, its nice to see an increase in the trading over the last couple of days. Lets hope it continues and gains more interest over the coming weeks

I don't recall finding it the last time I researched but I did recognise a fair bit of the historical licencing details but its this bit that I can't get my head around:

In October 2018 the government launched the country's maiden oil and gas licensing bid rounds, with six blocks, all in Tano/Cape Three Points (Western Basin) being placed on offer.20 The bidding round attracted multinational oil companies such as ExxonMobil, British Petroleum, Eni/Vitol, China National Offshore Oil Corporation, Qatar Petroleum, Aker Energy, Cairn Energy, Global Petroleum Group and First E&P. Sixteen oil and gas companies were initially selected in early 2019 to participate in the final stage of the oil and gas licensing round. Three of the oil blocks (2, 3 and 4) were selected to undergo a competitive bidding process while two blocks (5 and 6) were to be undertaken by direct negotiations. Block 1 was, however, reserved for the GNPC. Two companies were disqualified, one for bidding for the block reserved for GNPC and the other for not meeting financial obligations. Also, ExxonMobil and British Petroleum later withdrew from the contest without assigning reasons. The government, on 27 June 2019 announced the winners of blocks 2 and 3 as First E&P Ltd/Elandel Energy Ghana Ltd and Eni/Vitol respectively.

My main question is why are we still awaiting ratification of a block we were licensed in 2008 when they were issuing new licences 10 years later? and who were the 2 companies that were disqualified? I may have missed something here as my reading has been fairly condensed so any help and additional thoughts would be greatly appreciated

Yes, I've read back over a lot of the company reports and presentations and this BB but came across this when I was googling to look for info on the Tano 2A block allocation and licencing history.

https://thelawreviews.co.uk/edition/the-oil-and-gas-law-review-edition-7/1210105/ghana

Agreed Sam. MMs perhaps took the ASK up to in preparation for the 2m sell but that’s nothing to be concerned about for a £7k sale

Hi Rise, thanks for your reply. I think I’ve caught up on the last year as tbh, very little has changed in the grand scheme of things but the last report renewed enough confidence to get back in here. Looking forward to seeing how things develop on the other side of recent global events but I do reiterate that this entry price seems very attractive

Cheers Bridges. Like I said earlier, I came and went last year over a short period after a fair few years out of trading. I never really found a share that I got in at the right time and made a packet so left it alone for a long while. Decided to dip my toe in last year and then quickly got out again as I lost confidence. But I now find myself here again after spending a few days earlier this month reading up on old companies I recalled the ticker code for from those years ago. 2 of those were QFI and CLON so I bought both (1.2 in QFI and 0.38 here). Sold QFI on Friday at 2.77 and 3.15 so I’m very happy with that as I bought before the Tomoco link regarding MSAR Tech. Happy to hold these as effectively free shares as my profit on QFI covers my balance here.