Member Info for Risendshine

https://www.proactiveinvestors.co.uk/companies/news/209589/cash-flow-from-zinc-mining-is-now-only-a-matter-of-months-away-for-galileo-resources-209589.html

Why is petrel down 25% on this news??

....why is the board so upset at not getting to know ahead of the press? What was it that they were going to do with the knowledge before it got to the press? Has the board lost any money on this news? Were the board members heavily invested in the company? Will the board members take a cut in pay to offset some of the legal fees? To me at least LIFE is more important than money and I think the lessons I have learnt here are worth the loss. The lesson will remain with me and I will benefit from it forever, but a word to the "wise" there are no pockets in a shroud!!

I sold earlier this morning before this showed a drop of 48%. Does that mean I will get ripped off when the market opens?

...back to when it was up at 10p and how quickly it got there....the least bit of good news could lift this significantly, question is, where might that good news come from and what might it be? gla :)

Doesn't "completing the contract" mean the tendering process will end and a contractor will be chosen? :)

yeah I agree too. I was thinking the same Bridges, about the low number of shares in issue which can make a huge difference to an SP when demand rises. A further indication of this for me is how this share can rise 40% without news...so glad to be in this share at the mo... :)

Isn't that last line something to get excited about? "Potential: multi billion barrel recoverable!!!!! Very soon we will all find out if that potential becomes life changing for those heavily invested here... DYOR GLA :)

GHANA SWEET-SPOT BESIDE TULLOW: OFFSHORE/ONSHORE TANO BLOCK
The concession was awarded to a Ghanian company ‘Pan Andean Resources Limited’ which is owned by:
60% Clontarf Energy plc
30% Petrel Resources plc
10% Ghanaian interests (Abbey Oil & Gas Limited)
• Pan Andean and the Ghana National Petroleum Corporation (GNPC) executed a valid agreement in 2008 in respect of exploration of the Tano 2A area;
• A revised petroleum Agreement was signed between the parties and the Ghana National Petroleum Company (GNPC) in March 2010;
• Pan Andean, following protracted negotiations with the GNPC, instituted a lawsuit in March 2014 seeking equitable reliefs to protect its lawful rights under the signed Petroleum Agreement;
• Based on the good faith shown by the Ministry of Energy and Petroleum to amicably settle the matter out of court, Pan Andean moved to discontinue the matter in July 2014, while retaining the right to re-apply to the High Court should this prove necessary;
• The amended area for exploration and production rights for the Tano 2A Petroleum Agreement for the block are set out as below. We now await the Ministry to implement the agreed settlement and process the same expeditiously.
We await ratification of the amended Petroleum Agreement by Cabinet and Parliament, in accordance with law.
• The combined group controls 60% Working Interest and is the operator of the Offshore/Onshore Tano Block
• Held via Ghanaian vehicle (‘Pan Andean Resources Limited’) in accordance with law
• Block size: c. 1,500 km2 (150k hectares)
• Basin: Tano
• Geological Target: Cretaceous
• Potential : multi-billion barrel recoverable

http://clontarfenergy.com/ghana/

Given the way Clontarf announced that all legal issues have been resolved, the Ghanaian Government have promised fair play to all with leases and how they have appointed Strand Hansen as advosors this has a farm-out written all over it. I mean think of the interest that the big fish will have in getting a slice of the Tano cake. When Clon acquired the lease on this block it was almost unknown, but today they are almost drooling over it. I really can't see any negatives here and it is getting more realistic looking by the day if you ask me!! GLA especially you LTH's :)

https://www.offshoreenergytoday.com/clontarf-petrel-shares-surge-on-good-news-from-ghana/

“I want to use this opportunity to assure the companies that are participating in our ongoing licensing round and all other companies that the Government of Ghana is working around the clock daily, to make conditions even more favourably for oil and gas exploration and production in Ghana"

I have never been one for ramping but I feel very good about this. I just cannot see Ghana giving clon a bad deal out of this and any good deal is going to raise the SP significantly... DYOR though and GLA LTH :)

...as you said, you can afford to live without what you have invested. Combined that with the fact that you have only lost money once you sell and the SP could scarcely get much lower....well, do the maths my friend :)

...yes, I agree EC, it's all down to the 2 permits...they are pivotal imho :)

...Colin puts the value of AST at 200ml, if and when permits are issued, what price per share do we think a TO approach might offer? :)

I am a L,L,LTH and I have heard (read) just about every kind of comment on this share. Over the years I have always felt that we were on the brink of success when something would always arrive to set things back, the well stimulation problems, the permit delay for a processing plant, the tool stuck down the well, the slowing of production and so on. However, today I genuinely feel this is a pivotal time in our history as we wait for the granting (or not) of the permits needed to get on with producing in large quantities. If the permits come in I feel sure that a TO bid will follow. But if they don't then I think it would need to be curtains for this current project. There can be no denying that if the permits are granted (and I think thy will be) then this will rise sharply and then begin climbing back to historical levels DYOR though :)

Dcross, can you post a link then plz?

....it's went is 0.25. that's got to be a buying opportunity and a chance to get the average down if it goes anywhere near that because then the only way is up :)

well done sir hats off to you. I will be happy with any kind of profit after being a long long term holder.... hoping for better with CLON though :)

...and what will it say once it does arrive, that's the big Q :)