Member Info for Risendshine

for a top up :)

who own 20% of our Ghana Tano 2A Block seen their SP drop by over 9% today, for reasons not apparent to me ATM :)

I would say end Oct. or early Nov.... a combination of things tells us this: a) the new energy minister is keen to fast-track things, b) parliament sits end of Oct. c) the ratification negotiations are on-going before parliament sits, d) the new licensees will be getting allocated and they may want to ratify licenses before these are issued. As always though, DYOR :)

...is that most of the peeps who will arrive (the herd) on this site when the license is ratified don't even know this share exists, let alone its potential. On ratification, they will all be made aware of this potential and there will be a mad grab which will rocket this way beyond 1p imo dyor :)

Exploration focus - conclusions
•
Core capability identifies high impact
potential of major new stratigraphic
play in Tano Basin
•
In-house seismic technology skills reduced risks to acceptable levels
•
South Tano High and Jubilee fan create
ideal hydrocarbon trap conditions
•
Data gathered at Jubilee supports analogue opportunities in basin
•
Expertise in region transferable to adjacent countries and across Atlantic
•
Significant upside potential remaining

http://files.investis.com/tlw/siteware/history.pdf

from an article in March 2014: ...."The Block (Gondwana) is surrounded by 20 discoveries, including the world-class 2 billion barrel Jubilee light-oil field, currently producing in excess of 110,000 barrels of oil per day."........."Since 2010, exploration and development drilling offshore Ghana has achieved an unprecedented 72% exploration success rate, and 63% commercial success rate." :)

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

http://www.clontarfenergy.com/projects/ghana_.aspx

...every time the SP drops someone jumps in to buy speaks volumes about how many people are watching and waiting and hoping for a multi - b... :)

Plz come back soon "Pump & Dump Rampers Clique" we miss you :) x

We'll get an RNS lol :) x

Lol :)

In May this year, Energy Minister Boakye Agyarko, at an event inducting the Board of the Ghana National Petroleum Corporation (GNPC), in Accra, said this: “The current situation in the oil and gas industry is that we have found oil; yes we’ve become an oil producing nation but we cannot sit on our oars and wallow in the pleasures of what we have found,” Agyarko added. “Because what we’ve found is credible but given another 10 to 20 years, without any further find our fortunes will begin to decline. We must, therefore, adopt a posture of aggressive exploration to add to our oil reserves.”.

Less than 5 months later the GNPC drop all legal barriers & clear Clontarf's license for the Tano block, right next to the oil-rich Jubilee, to be sent to parliament for possible ratification.....DYOR

https://www.eniday.com/en/human_en/ghana-oil-discoveries/

There was nothing artificial in the RNS that I could see & surely it is sensable to be "cash ready" for when ratification arrives? I'm surprised that such an experienced investor would see it like that; but that's just my thinking on it; people need to weigh things up for themselves, i.e. who is de-ramping & who is ramping etc. gla

What would be the benefits to the country if Clon & other licenses were ratified before the next wave of block allocations?

are we running out of ramp talk lol :)

The short article I have pasted in below was from 2011 and in 2012 the share price was at 7p!! to see the share price chart for 2012 see the link below the article.

"DUBLIN, Ireland – Clontarf Energy is keen to start exploration in the Tano 2A block offshore/onshore Ghana.
Last year the company signed an agreement with the Ghanaian National Petroleum Co. (GNPC) on the 1,532- sq km (591-sq mi) block, giving Clontarf 60% equity, in partnership with Petrel Resources and Ghanaian interests 10%.

The block is close to the prolific Jubilee oil field.

Clontarf says that as with other countries, Ghana requires cabinet and parliamentary approval of all concessions awarded. In a statement, the company said: “The process takes time but we are working our way through the system.

“Tano 2A is a good block with both onshore and shallow offshore possibilities. New seismic is needed to better define targets, but the ultimate test is a well or two. We are eager to begin exploration.”

09/30/2011

DUBLIN, Ireland – Clontarf Energy is keen to start exploration in the Tano 2A block offshore/onshore Ghana.

Last year the company signed an agreement with the Ghanaian National Petroleum Co. (GNPC) on the 1,532- sq km (591-sq mi) block, giving Clontarf 60% equity, in partnership with Petrel Resources and Ghanaian interests 10%.

The block is close to the prolific Jubilee oil field.

Clontarf says that as with other countries, Ghana requires cabinet and parliamentary approval of all concessions awarded. In a statement, the company said: “The process takes time but we are working our way through the system.

“Tano 2A is a good block with both onshore and shallow offshore possibilities. New seismic is needed to better define targets, but the ultimate test is a well or two. We are eager to begin exploration.”

09/30/2011"

http://www.proactiveinvestors.co.uk/LON:CLON/Clontarf-Energy/shares/

GLA :)

are also getting excited and did a placing and they only have a %30 stake compared to Clon's %60.... IMHO the investment risks are less here than they were previously but the potential rewards are still massive...dyor though as it's only one humble opinion :)
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PET/13792209.html

Response to this..............ARSO, the Slovenian Environmental Agency have asked for further amendments

'Our response will be delivered in early September and we hope to have the permit in place by the end of September. Lack of a permit has certainly put a number of players off, but others have taken a longer term perspective' said Colin........ IMO the issuing of the permit will trigger a TO war :)

....missed the boat yestarday but back in today at 8.25... waiting game :)