Member Info for Risendshine

Wouldn't be surprised if this went back to 0.60 tomorrow :)

I feel good about my average and although it's probably higher than some of you lucky peeps at 0.68 I am very happy to wait now and hang on to that :)

This drop in SP is just because the oil price went into negative for the first time ever due to there not being anywhere to store oil that's being produced (no cars or plains etc. so no oil needed) but Trump will be working to get this back up and it will be back in positive territory soon enough....great buy in prices coming :)

Yes, points taken Dutch and I did wonder about Bridges since the passing of he bill?; just hope he is OK though! :)

I have moved on from the current need to watch parlaiment and now waiting for the insolvency bill to be signed. This will be done very soon, as with other recent bills, due to the governments drive towards "efforts to incorporate good governance (transparency and accountability) measures in the legal framework for managing its petroleum resources". Soon, and then we can go back to watching parliament for signs of ratification. All IMO of course DYOR and GL all :)
https://books.google.co.uk/books?id=mcmjAgAAQBAJ&pg=PT104&lpg=PT104&dq=how+long+for+Ghana+to+finalize+signing+a+bill&source=bl&ots=gV7UmdKHV0&sig=ACfU3U1WWwVEiOjnX8u99jDDwOCFZmwe5w&hl=en&sa=X&ved=2ahUKEwjMkaHJ9vboAhXFmFwKHV0jC9wQ6AEwDXoECA0QKQ#v=onepage&q=how%20long%20for%20Ghana%20to%20finalize%20signing%20a%20bill&f=false

Yes! :)

For what its worth, here is my prediction and recommendations: please note: this is only intended for those who are already heavily invested here; its important to say that as I don't want to be responsible for people losing their hard earned money!

I am sure that when people look at the money they have put in here they would like to get at least that back? If so, I would recommend waiting till (if and when) an announcement is made saying that Clons original acreage of Tano 2A has been restored......... - bare with me :) - remember that this acreage was illegally taken away from Clon by a previous corrupt administration because Clon refused to pay a bribe, and given to Erin whom I presume did pay the bribe, hence the legal action Clon had launched against the then corrupt administration to get that acreage back. The new administration comes in (keen to clean things up) then negotiates an out of court settlement, one which Clon thought "to be satisfactory" enough to allow them to drop all legal challenges involving the claim for Tano 2A, which claim was then sent to parliament for ratification. It makes complete sense!! that the new administration would promise new legislation (insolvency bill) allowing Clon to recover that acreage; think about it!! why else would they drop legal proceedings for that claim?

Yes thanks from me too Wraith, the part about having a legal framework for recovery of acreage is supplimentary to what I alluded to below in my post to Amers. Thinking further about it though: it seems that the launch of Clon and the rise in SP may actually begin before ratification (and I urge peeps here to DYOR) because prior to ratification we should get an RNS announcing the restoration of this acreage, if, as I suspect, the promised recovery of such?? was part of the deal leading to "the dropping of all Clons legal proceedings"; just a thought!! :)

Amers, It's as per what Tiburn said below. My own thoughts on it are that Clon have given way on something for the sake of getting an out of court agreement, hence this has been sent to parliament for ratification. I don't know what the deal was but the insolvency bill was alluded to by Clon recently as being part of the equation. The markets will be virtually unaware of the connection to the insolvency bill and the majors waiting on the wings wont make any moves till this is ratified. It's low profile till then so maybe a good time to prepare....DYOR though and remember that nothing is ever 100%.... Personally, I think this will come good sooner rather than later...GLA :)

I haven't commented much on what effect the passing of the insolvency bill would have on the SP but noticed that it gradually became more of a big deal. I didn't want to publicly sound disagreeable so I stayed out of it. I have always seen the passing of this bill as incidental. The real issue, and it always was, is ratification. I do think this bill will help ratification to make progress but I wouldn't expect most people to understand why, let alone invest huge amounts here once it is passed, and its not even finalized yet! Maybe once its signed off and enters the public domain the SP will rise a bit. But that's not the point here anyway, its ratification that is the real SP game changer, the insolvency bill just brings it that bit closer. I'm not sure how long it will take but I am fairly sure it will happen, and happen sooner rather than later. I urge people to DYOR though as many are just jumping on what others are saying without either knowing what they are talking about. I do know what I am talking about and I can tell you that this is all about ratification, nothing less! :)

...yes, I agree. The insolvency bill passing was already acknowledged in the last RNS. Having said that, I think Frabo is right about this being an opportunity to "fill you boots" :)

Thanks Tiburn, lots of work and some excellent RNS summation here :)

Tiburn, your analysis and conclusion here seem to resonate with my own thinking on this. Clontarf have never been clear on exactly what the negotiations implied, they were said to simply be to "their satisfaction". It wasn't the most enthusiastic of responses but must have been a substantial enough offer to have led to the dropping of all legal proceduresI think your analysis and conclusion would make to me sense :)

...any RNS relating to how the insolvency bill impacts on Clon's claim ratification would obviously not happen until after the process has concluded in its entirety, me thinks :)

How addressing insolvency is key to improving Ghana’s business environment
....."In addition, it (the insolvency bill) is expected to reduce the burden of insolvency by enabling a more equitable distribution of a failed company’s assets to creditors,"..... "improve the country’s ease of doing business ranking in the World Bank’s “Doing Business” report.".........

https://oxfordbusinessgroup.com/news/how-addressing-insolvency-key-improving-ghana%E2%80%99s-business-environment

I don't have time right now to sum it all up but this may suffice: Go look at the Jubilee claim in offshore Gana. Clon has a claim to Tano 2 block which is in close proximity. Sieismic work reveals Billion Barrel potential within that block. If and when the claim is ratified then majors are waiting in the wings to farm in so that Clon and their partners can proceed all the way to drilling. The SP will follow the progress of the process if you know what I mean. In short, ratification of this of this claim will attract huge attention and in MHO the SP will rise very significantly! Don't have time for more now but please dont invest your money till you have done all your homework as I don;'t want to be responsable for your losses if this desired and expected scenario doesn't materialise.... so, DYOR & GLA :)

Pe6, 1m shares at current price would fetch you around 10k. If then the SP gets 2 thirds through your estimated SP you will be in 6 figure territory...party on!! GL :)

To my mind this bill is all about cleaning up the bribery (squint bat) and corruption embarked upon ("allegedly") by the last administration. Clon was approached by them and opted, to quote (David Horgan) "play with a straight bat". Part of their claim was therefore offered to someone who presumably didn't need to play with a straight bat. Clon launched a legal challenge which was pending when the new administration took over. The new administration, keen to clean things up, came to an out of court agreement with Clon, all legal proceedings were dropped and the claim was sent to parliament for ratification. However, since this administration does things above board, they need to pass a bill into law which allows them to eject those who played with a 'not so straight bat' before the full claim can be restored to Clon and ratified..... I could be wrong here but that is my own personal assessment of the current situation GLA :)

Come on in! just FYI.......
52W High 1.98
52W High Date 02/12/2019
52W Low 0.09
52W Low Date 28/11/2019
Market Cap £5.56m
Shares In Issue 716,979,964

Over 2 billion barrels have been discovered in Ghana since 2005. Ghana is amongst the most attractive exploration locations in the world. The current terms are: Royalty: 12.5% for oil; State carry: 10%, and; Income Tax: 35%. The Tano 2A Block is held 60%by Clontarf Energy, 30% Petrel Resources and 10% Ghanaian interests......do the math peeps, stay safe and GLA :)