Member Info for robrob

I think it's very undervalued doe to the assets and op. Rerate to 1p+. IMO, others say it will go higher

GLA
DYOR

Good points Tilburn. Something brewing.

On PET board, I hear oilman Jim is tipping PET. Not sure if details, this may apply to CLON though.

Gla
Dyor

Morning Bridges

Thanks, something to discuss while we wait for the signing :)

Morning Bridges

Thanks, something to discuss while we wait for the signing :)

Hi Dutch

"How is a Company (CLON) with Mk Cap £5
going to takeover a

Company (PET with Mk Cap £13"

- by RTO
- majority is owned by same entities in both organisations
- it is conjecture on my part, while we wait...

Hi Dutch

"How is a Company (CLON) with Mk Cap £5
going to takeover a

Company (PET with Mk Cap £13"

- by RTO
- majority is owned by same entities in both organisations
- it is conjecture on my part, while we wait...

A bit of Friday thought sharing....

I think about how PET were portrayed as quite literally ' no hope ' with no progression, no talks and no partners last year... its been a hell of ride for them though!!

If you were a shareholder at circa 1p you'd still be way, way up.

Go back to the PET RNS last year and look at how non descript' the company was portrayed - seen in the financial report - and when SP was circa 1p - then from no where came news of a partnership with a new concert party and whoosh the PET SP went to circa 25p.

This 'partnership' must have been brewing for months... but there was zero public news flow.... now here we have similar, that on the cusp of news being days or weeks away for CLON that we see a speeding ticket RNS being issued. Same BoD, same approach.

I would not be surprised that PET is taken over by CLON. A single co being formed. If it did happen...

The shares in contention between chase / PET / Tamraz concert are nulled and values appropriated into a new Co. This resolves the 'share issue' at hand, the new partner Tamraz and existing holders form new co that is PET+CLON, brings with it Tamraz and funding for Ghana. The BoD Clon options survive.

This would explain that Tano 2a is the asset that was prior talked by concert party but not disclosed (as it does not yet exist fully) and this being a co-operative deal brokered by Pan Andean and Tamraz.

I'm sure you get the jist. It's a play on words that may have been issued to shareholders and why loose dates were only offered as it was reliant on decisions. These decisions were / have been delayed due to circumstance e.g. insolvency bill being delayed (was meant to be 2019) and more recently COVID.

This is why this RNS today talks about how Tamraz has 'helped' in recent discussions surrounding funding for the Pan Andean licence. He wont be doing it for free, it'll be to become part of this concert party and to assist in realising the 'asset'.

- Surely it does not take this long to deal with un authorised PET shares.
- CLON Tano is subject to funding...(they have funding it's Tamraz concert party) as per RNS
- They cannot announce anything at this time as the passed bill is not an act yet (anytime now)
- They need GNPC to advise parliament to proceed or a different action for the ratification to happen (soon)
- This is why BoD have options with CLON and not in PET
- This is why Tamraz still is endorsing PET on Netoil website as there is a bigger picture behind the scenes
- BoD do deals. It's what they do. They own Botswana Diamonds and partnerships is what they are good at doing.
- Also interesting to see that the Lithium Bolivia deal is still progressing but with interim gov now. This being the first update to that since Bolivia crisis / Government change.

Much of this is a 2+2 calculation of course, like to see what you will think as to what will happen between CLON, PET and Tamraz.

GLA - all conjecture and rambling
D

only stock he has left is OXO stock cubes....

We can expect the insolvency bill to be signed quickly.... there are so many organisations and matter to be dealt with, Pan Andean being one of them... below is just one of many examples why this bill will be signed asap!!

https://ghanatalksbusiness.com/government-spends-gh%c2%a2-17-7-billion-financial-sector-clean-up/

....The Government has spent a total of GH¢17.7 billion on the clean-up of the financial sector, a statement from the Finance Ministry said.

Out of this figure, GH¢11.65 billion was used to settle depositors in the banking sector.

The remaining GH¢6.1billion was spent on the Savings and Loans Companies and Microfinance Institutions.

“We expect that the recent accelerated pace of the prosecutions and an intensification of the civil recovery process under the Receivership will result in substantial recovery of these monies for the Treasury”, the statement read.

The insolvency Bill is to ensure that defunct companies cannot 'sit' on assets that do not belong to them such as Ghanian savings accounts, land assets, deposits, company insolvent assets etc.

Expecting to see sign off by president.

It's worth noting the Ghana advised Macron, they do want any further French / IMF support, wishing the nation to be self supporting. Jubilee has been a huge success and eyes are on the Tano basin as a near term revenue source.

Good round up Tilburn

Yes that’s my understanding Ray

Rns is actually good imo as it recognises the validity of insolvency bill. I’m surprised to see the rns so early in fact as the insolvency act has not been signed yet by president.

To see this rns so quickly means it’s very likely there are discussions with Ghana to this end. Note the, “we are ready” ....

We’ll all be moaning about a missed entry price later!!!

Gla
Dyor

....Despite lower oil prices, in the Board's view, the Tano (and Cretaceous oil play generally in West Africa) remains an industry favourite.

Recent high-level official meetings have been productive. The Company understands that new shareholders in Clontarf Energy's 30% partner in the Tano 2A Block, have helped the Tano 2A Operating Company (Pan Andean Resources (Ghana) Ltd.) to overcome any financial capacity concerns following a lower oil price and market capitalisation.

Clontarf also notes the passing of insolvency legislation that may assist in the recovery of all of our original Tano 2A coordinates. There now appears to be a legal structure enabling the authorities to recover 529km2 of the original acreage Tano 2A acreage over which Clontarf signed, with partners, a Petroleum Agreement, and which is now awaiting ratification.

"FFWD said it had become clear that its SAFE is seen by investors as an impediment to further investment..."

wasn't it Factom that provided that information to FFWD. That might be their 'take' on the situation, maybe there are alternatives at hand now that the Factom management team are no longer in a full leadership position.

Also, what about the Gov contracts in place. Surely USA does not want a lead supplier to go bust?

Got to be some options here.

I wonder where Tim Draper and other investors from "A" sit in this.

Possibly there is a concert party / deal to be done? There are /were some early investors who stand to lose their A series value as FFWD are the main creditor here.

sorry for the format, was writing quickly.

Hi Kobe

I don't have the source to hand.

Hi Kobe

But I had a flow chart (web page) of the law process from bill to act. The fastest route was alluding to 48 hours from 3rd reading and the point of being sent to president. I'm not comfortable saying that is what it is, I think there are many possibles for a slower sign off and to fair I cannot remember exactly. I'll look later, see if I can find the link though.

rolorolo, this bb is for contributing members only.

If you are not commenting on CLON then do not post here. Thanks.

The Directors have put in place options for 40M @.75 Onasis. So you can be assured that they know where the interest lays.

to this respect, .75 is the bottom in the eyes of BoD, in my opinion and they will be looking for a return of their time and energy in getting CLON to ratification and farm in. Whether this be a X 10 from .75 or higher is yet to be determined.

But to clarify, BoD have options and owned shares in CLON, they have plenty of skin in the game.

GLA