Member Info for Risendshine

To be fair Dutch this could be sarcasms from David. It's not beyond him to respond that way? :)

"Hydrocarbons in Ghana Clontarf holds a 60% interest in the Tano 2A concession offshore Ghana (the remaining interest is held by Petrel Resources PLC: 30% and Abbey Oil and Gas: 10%). By now, after a decade of frustration, shareholders are well aware of the position. We have an agreement with the Ghanaian National Petroleum Committee over 1500 plus sq kms in the shallow waters of the Tano Basin. In recent months there has been renewed motivation among the parties involved to seek a solution for Clontarf. World lockdowns have effectively stopped all international travel and meetings but once travel is possible these meetings will take place. Future In these turbulent times it may be very hard to look ahead with any real confidence. We will strive to progress our interests in both Bolivia and Ghana. Uncertainty throws up opportunities. We will see some of them. We have funds to continue operating for at least the next twelve months. John Teeling Chairman 22 May 2020"

Hi Sam, I guess we are all faced with the same dilemma's here, should we put more in or wait it out? Personal choice I guess but you certainly seem to have the kind of average that most would be delighted to sit with. In terms of running out of money. Clon have recently said that they have enough money for another year and if they need more I guess they could get it. As far as I know they haven't used any lifelines in that area so there would be options. Whether they would be able to get loans etc. would be a good indicator of how good the business community sees their potential. I personally don't see the need to worry about running out of money any time soon :)

Nice one Broomfielder, I do hope things work out for you here. I guess you have never lost anything till you sell! In the past I gave up on some only to regret it later (much later) looking back. Your bottom drawer strategy at least would leave a remnant and the long term possibility of a return but my feeling (and I could be wrong of course) is that this will need to come good in some degree as an agreement has been reached which was "satisfactory" enough for Clon to drop a long standing legal battle and the new administration, as far as I can see, are playing fair and wouldn't risk a potentially high profile dent to its reputation, not when the emphasis is so strongly on presenting Ghana as a serious player on the international stage. All IMO of course and please DYOR and GL to you :)

Thanks Bridges and Sam, no pressure then!!! lol. Generally speaking, the pattern has been one of a rise in SP without news, followed by a slow trickle back down. I top slice and buy back on the way down. The risk here of course has been that news could drop while its high, and just after I have top sliced. The other downside of this also is that I need to get the average back down too. I have been doing this for some time now and it has worked rather well. However, more recently I have been more cautious because I think we are close (draconian measures not withstanding) to a result here. That result may or may not now take longer that I anticipated but with things as they are I am happy to just wiat now unless an unexpected rise without news happens in which case I may be tempted to chance the top slice again GLA :)

Thanks Bridges, I had a hunch that you would have a better informed take on that question and thanks for reading through the posts and responding....the only way is up :)

Its certainly a waiting game for me now Sam and if a few ups and downs happen along he way then its a bonus I guess.... once the "high level meetings" get back on schedule we will see more interest here I suspect :)

Dito :)

Like M/Ray I'm not sure either Sam and I don't usually lean too much on that when assessing things. What I do know is that when PET. were linked with billionaire funders their SP went into the high 20's in pence. If and when ratification is confirmed I would expect similar spiking to take place. Whether it would keep rising of fall back would depend on what news flow followed the announcement but I wouldn't be surprised if this was what the "high level meetings" were about; i.e. what happens next. People like Bridges who are in for the very long haul reckon that this will continue to rise right into the drilling phase and if their is a discovery then we all know what that will mean. I'm sure Bridges would be willing to elaborate if he is around. For me, I will be happy with anything 5p or over GLA and DYOR :)

My guess would be that the "high level meetings" put on hold due to covid were about what happens after ratification. It's easy to have an in-house meeting with people you know and have prior influence over/with but to conduct business with people who may be from a completely different culture whom you have never met before....well, suffice it to say, it might just be worth the waiting!

Great average Sam. I'm sitting at 0.55 now but I have been up and down a few times taking slices off the top and getting back in on the way down. Must be a few people on here wishing they had averages like that though!! GL when the big one drops :)

In my long experience with Clon it's never dormant for long and there is little room to sink at the moment :)

Welcome aboard h2left, I can't imagine there to be a better share around with the potential of this one at the price its at. It's fluctuated around the 1p mark before sinking more recently though as high as 1.9 at one stage and all this up and down without news. IMO, if the right news drops here we are talking life changing amounts for those who have built a high steak...gl.. :)

I had realised some funds in order to top up at these extraordinary low prices and while I was waiting on them coming through the SP dropped 18%...that was lucky (no offence meant to those heavily invested) because if the funds had been available yesterday I would be down 18% on that already. But hayho, now my average is down once again :)

I agree with TL that nothing has really changed. This is information highlighting uncertainty and we all know how the markets hate uncertainty, hence the drop in SP. If there is an obvious opportunity here then it has to be an opportunity to lower the average.... all IMO of course & DYOR :)

Dito Sam :)

Yeah Sam, I appreciate what your saying, cheers :)

Thanks for clarifying freeshare. It's well worth considering that things may well take off soon after flight restrictions are lifted. In which case it would be difficult to see any reason why we shouldn't get an updated RNS which is bound to give the SP a lift at least. :)

That's great news freeshare. Could you please confirm which part was said by Clontarf? I.e. obviously they would know (as opposed to "may have had") if there had been talks with a commercial perspective partner prior to lockdown? Just feel its important for peeps to be clear on the distinction between what came from Clon and is from your good self; thanks :)

HaHa, thanks for clarifying Sam; they do say that text only carries 7% of the whole range of communication; so I guess that the slightest typo is interpreted through by the missing 93% :)