Member Info for Risendshine

Do we think the RNS is referring to the 30% stake in Pan Andean and the current application for ratification of Tano 2 in Ghana when they say "first major oil & gas transaction in the Middle East & North Africa"?

Thanks Gramm, I think your post is both very relevant and very significant!!

Thanks Suhail that was interesting to read again with the benefit hindsight along with recent new information from Clon.... peeps on all sides are keeping their cards close to their chest but DH could hardly contain his excitement and enthusiasm going forward!!!

P.S. as I suggested 2 posts below, ratification is a separate. I.e. Clon cannot raise a legal issue if parliament don't ratify their claim..or can they? ;)

Like Goodfella, I was under the impression that it was the same block. I am partially speculating here but based on good evidence (see my post below). I think block 1 was originally part of the block 2 deal struck by Clon before the new administration took over. The new administration then took payment from Erin Energy Inc. (a US company) and Chapter 11 was annexed and awarded to them; hence the legal challenge from Clon. As this government is above board and fair,. The new government are now driving out the illegal claim from Erin energy which leaves scope for Clon to re-establish its original acreage, as said by Clon in a recent interview. Obviously Clon don't want to be presumptious about that publically but i think that is why they are saying that all legal issues have been resolved; i.e. Clon are getting the annexed block 1 back!! GLA & dyor ;)

Time will tell Suhlail ;)

Taking all past events and the information provided into consideration, that which has become obvious, especially from what ?? said in his recent interview, is that Erin Energy Inc. (the US company currently in Chapter 11) got the acreage (previously contracted to Clon) illegally through bribing the last administration. This is why Clon. started their legal action in the first place. But, given that the present Government is cleaning things up and following the path of fairness and transparency, and also getting rid of all those involved in corrupt practices, it is also obvious that Clon is to get chapter 11 back! Add this to the fact that all along Clon have been, quote "hitting with a straight bat", then the Ghanaian authorities will honour Clon's right to a stake in all this, at least in some form. These things become especially obvious when we think how Clon are saying that they are satisfied that all legal matters have been resolved.

Having said that, whether the cabinet ratify the claim or not, to my mind at least, is a separate issue. IMHO once chapter 11 is given back to Clon there will be a significant rise in the SP. After that, if the treaty is actually ratified, this will be a life changing share for LTH and whoever manages to get in if and before these events take place. Either way, it is all going to unfold very soon imo GLA, especialy LTH ;)

We have been pushing a rock up a hill, but there comes a time when the rock starts down the other side and gravity makes it easy; "that time is now" he said!!!!!!

before the herd arrive? ;)

Last week I mentioned a change in tempo as the SP didn't drop as it has done in the past after a sharp rise. This was the result of a collective wisdom and peeps sensing that something is brewing here....well done LTH for hanging in there GLA ;)

I half expected the sp to drop again this morning as peeps off load at higher prices but that has not happened. I conclude that the collective wisdom says something is brewing here and no one wants to miss the bus... it could be a fleet of double deckers!!! ;)

Tano 2A go......back about 10 years and involve co-ordinates of an area covered by a petroleum agreement that was not approved by the Ghanaian cabinet or parliament.
As a result of the resolution, all legal proceedings have been withdrawn, and the companies expect the petroleum agreement to be sent to cabinet for review.

Sept. 4th 2016
The directors of Clontarf (AIM: CLON) wish to advise shareholders that, further to our announcement of 22 June 2016, Clontarf and its partners have now met for discussions with Ghanaian officials. Negotiations are now underway in relation to possible award of acreage in respect of our prior application on deep-water Tano Basin acreage as well as replacement acreage for our signed Petroleum Agreement on Tano 2A Block.
8th June 2017
Constructive Discussions with Ghanaian Ministry
The directors of Clontarf Energy (AIM: CLON) are pleased to report that discussions have taken place in recent days relating to the Tano 2A onshore offshore block in Ghana. These discussions were positive and constructive, and will be continued.
David Horgan, Director, commented "The Tano 2A saga has been ongoing for nine years. There are numerous legacy issues which are being addressed. Progress is being made. The newly elected government is pro-development and committed to improved standards. We are committed to helping find and develop Ghana's natural resources. With continued good-will and common sense we hope that any outstanding issues will be satisfactorily and promptly resolved."
30th May 2018
Of course this must change as oil fields run out and supply becomes sluggish while demand continues to grow. But, explorers such as Clontarf have to survive and hold on to their ground until the majors are ready to move. Eighty dollar oil and a growing world economy suggest that the time is near. But not yet.
16th January 2019
e Directors of Clontarf (AIM: CLON) are pleased to announce that the Company has appointed, with immediate effect, Strand Hanson Limited as the Company's Nominated & Financial Adviser.
28th May 2019
What can I say about our status in Ghana which has not already been mentioned? Progress is slow. Our core strength is a court order stipulating that we have a legitimate right to Block 2A in the Tano basin. Implementing the order is proving a mammoth task. Governments changed, co-ordinates changed while discussions continued. The procedure involves agreement with the Ghanaian National Petroleum Company (GNPC). Then cabinet approval, followed by parliamentary approval. We have GNPC agreement but so far no cabinet approval.
The opportunity in Ghana oil remains. More discoveries have been made and the country has become a significant oil producer during the time our saga has continued. We are frustrated, we have spent time and money in the country. We remain hopeful of an agreement.
17th Sept. 2019
(Can’t find the RNS for this!!)
LONDON (Alliance News) - Shares in Clontarf Energy PLC and Petrel Resources PLC jumped on Monday as the companies said they resolved legacy issues with the Ghana National Petroleum Corp regarding a contract for the development of the Tano 2A Block.
Clontarf shares more than doubled following the news, to 0.43 pence each, while Petrel shares were up 22% at 2.37p.
The legacy issues at the Tano 2A go

Excellent! Thanks Suhail :)

Suhail, I liked your post from earlier ("Companies such as Clontarf do the early prospecting work....") do you have a link for that quote? All things considered, we seem to have a government in Ghana that is looking to be fair and transparent and keep everybody happy. The fact that Clon have said they are happy and have withdrawn all legal action speaks volumes to me; it's all gearing up for some good news IMHO and I am glad to be in this share at this stage :)

Does anyone think this will have implications for us?
https://www.youtube.com/watch?v=tAl-cdrbkug

We have reached the elusive 0.3....yah beauty :)

....yes it can! and it is without bias that I say I have seen the way Clon can rise fast without any news! On any good news I am fully expecting a spike at the least!

....any hint of good news on the Friday and maybe peeps will be piling in so they are on board for the RNS on the Monday dyor :)

The time for a decision either way is near, very near! I wonder, what do peeps see as the best and worst scenarios? To my mind, the SP is so low that it can't go a great deal lower but the upside potential is very very high. I have noticed how quickly this share can rocket compared to other shares. In my opinion it is worth a bit of a risk and I am invested to the tune of 4k. Though I must admit to resisting risking more than that, partly because the potential returns on that are enough for me :) GLA