Member Info for Risendshine

Yeah, I don't blame yu for having that outlook. I'm betting on this being a "Peter & the Wolf" story over on Clon.... I wish you all good luck :)

Good question, dv, which I don't feel qualified to answer. I would imagine that Clon would have a partner lined up and use the ratified permit as leverage. My honest answer though, I don't know :)

IMO, you expressed that really well Chitta. This is going to be a classic "Peter and the wolf" story. I'm not a ramper, never have been never will be, but I see the significance of what is happening here....Pauly! Hope you are seeing this, you, I think, deserve this more than anyone else here GL :)

http://envoi.co.uk/wp-content/uploads/2015/06/P230AMNIGhana-CentralTanoEnvoiFlyer.pdf

Have you peeps seen this from 7th Sept.? seems to give this RNS some weight to me :)

https://www.ghanaweb.com/GhanaHomePage/business/Poor-decision-making-affecting-capacity-to-produce-more-oil-ACEP-1618892

If you look back at Tank247's post on 7th Sept. and my reply on the 8th. peeps will see what is going on here regarding the RNS from Petrel. Clon has a bigger share than Petrel in the Ghana Tano 2 block. all LTH will know the significance of this and how it is the most exiting development here for many many years DYOR & GLA, especially long suffering LTH!!

• Ratification discussions on Tano 2A block underway with Ghanaian authorities - though acreage adjustments likely.............
.......Following the C-19 pandemic, Petrel Resources plc restored contacts with the Ghanaian authorities to update the acreage to be explored, and resuscitate the ratification of our signed Petroleum Agreement on Tano 2A Block. Slowness in ratification of signed contracts had constrained the development of Ghana's oil and gas industry. The current Ghanaian government has indicated its determination to recover momentum. Ghanaian fiscal terms are competitive, while West African infrastructure steadily improves.
Financial markets and farm-out interest in petroleum had been depressed since the oil price war starting in 2014, and continuing periodically until 2022. This had constrained our options for early seismic or wells in Ghana. But recent oil & price surges show that major new investment is required to service global demand. Petrel Resources hopes to participate in the coming boom.

Well said Mr. T. I think their are two choices for anyone who is stuck here holding the bag. 1) we could wait and wait for the big one while complaining about the BOD etc. etc. which is both frustrating and completely fruitless. Or 2) adjust to a strategy that will claw back even a small amount of what is currently lost - only a paper loss at the moment. I have outlined a strategy in previous posts and implemented this myself and, yes, it is working! Only trying to be helpful here, its not a criticism of anyone here and what Mr. T says makes more sense to me than waiting and complaining GLA :)

....For me, 0.04 would be an excellent buying opportunity; TBH :)

That's my average down to 0.106p. Taking a while and lots of small rise selling, followed by buying back in as it falls but taken some gains along the way. I will now just wait till the next spike, rinse and repeat GLA :)

Yeah its really difficult Wayne, hindsight is so different from foresight and one can swing easily if allowing emotions in, as opposed to hard principles that is. One thing I have learned, I've never regretted taking profits but almost always regret not taking them....damn emotions!!!!

P.S. I always try to wait till the SP is on or below my average or at least near it (requires patience) before buying back in, that way my average comes down as my portfolio increases. As Warren Buffet said "the stock market is the transfer of wealth from the impatient to the patient", that's what he meant!!

My honest opinion Wayne, after being here for well over a decade. I wouldn't wish to put people off because there is a remote chance a deal could get done and the SP explode. However, look back at all the RSN's and Clon's history and you will find that they always have "projects with potential". The SP can rise suddenly, and for no reason, followed by a scramble to FOMO (fear of losing out) in. The SP then drops back down and people are left holding the bag....many are still here for that reason. My strategy, for what its worth, is to stay, just in case the big one comes, but make some small gains in the mean time. I watch and wait for "the bottom" is if it goes down further, I put more in and so on until it rises, then I take profit and rinse and repeat. Here is the trick, leaving a small amount in just in case it explodes but also ignoring the FOMO and forcing myself to take profit.... and that works for me GLA :)

Good to hear from you Pauly, its been a while: I sometimes post older RSN's to update nebee's and provide a bit of history so people can make informative investments but I am being completely transparent about it. I have given up on anything Clon does coming to fruition but I still see opportunities to buy the dips and sell on the rises :)

That's been my strategy also crest. Taking profit on the way up and waiting for dips to lower the average. Each time its lowered, the more chance of going into profit. Its not easy to resist FOMO'ing in, but always pays off in the end GL :)

17th September 2018
Clontarf Energy plc
("Clontarf" or "the Company")

Update regarding contract for the Tano 2A Block

Clontarf Energy, the oil and gas exploration company with an interest in Ghana, is pleased to announce that the Company's Directors believe they have resolved the outstanding issues with the Ghana National Petroleum Corporation (GNPC) regarding a contract for the development of the Tano 2A Block (the 'Petroleum Agreement'). As such, all legal proceedings have been withdrawn and the Company looks forward to making further announcements regarding the Petroleum Agreement in due course.

David Horgan, Director, commented:

"We are delighted to report that all outstanding issues have now been resolved with GNPC regarding our Tano 2A Block. All legal proceedings have been withdrawn so, after normal consultations, the next stage is for the Petroleum Agreement to be sent to Cabinet for review. I look forward to providing further announcements as appropriate."

To compliment your post, lost :)
https://www.researchgate.net/figure/A-map-showing-the-major-blocks-with-discoveries-of-oil-and-gas-in-the-Tano-Basin_fig6_338047008

I hate to use filters but I do have the option/right to chose who gets in my room; sorry :)

Thanks for your post Herbert. The situation at the moment is rather dormant until Clon makes some kind of annoncement on whatever progress there has or has not been. Clon are rubbish at providing updates but the new Australian contacts seem to force Clon into making announcements whenever anything happens. I have a feeling (not financial advice) that something will move soon on the Tano block. This is for two reasons: first, the obvious push by Western countries to increase production, anywhere in the world, of oil and gas. Second, Ghana parliament recently debated on the slow decision making in progressing oil and gas projects, the Tano block was mentioned specifically among others. Even if Ghana don't wish to ratify Clon's very legitimate claim in the Tano block, they will want Clon out of the way so that someone else can begin exploration in this very promising (DYOR) region :)

I agree 100% with Dibblegrub! If you want to argue between the two of you then GET a ROOM!