Member Info for StoneFold

for acquiring (or servicing new debt to acquire) the ASA assets. even if they stop paying a dividend.

PAF are looking at ASA Resource Group Plc https://asaresourcegroup.com/ not to be confused with the separate company Asa Gold & Precious Metals Ltd http://www.asaltd.com/

PAF - Pan African Resources PLC Released an RNS today revealing their possible interest in acquiring (part/all ?) of ASA. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PAF/13513064.html "CAUTIONARY ANNOUNCEMENT The Company is pleased to announce that it has entered into exclusive negotiations with the joint administrators of ASA Resource Group Plc (the �Group�) in relation to acquiring certain of the assets and liabilities of the Group (�the Acquisition�), which if successfully concluded may have a material effect on the price of the Company�s securities. Discussions are ongoing and as such there can be no certainty the Acquisition will conclude. Accordingly, shareholders are advised to exercise caution when dealing in the Company�s securities until a full announcement has been made, or this cautionary has been withdrawn. A further announcement will be made in due course. 29 January 2018 "

No feedback on the study of data from previous Verbier drill. Only one appraisal drill. Pity not to get better use out of a drilling rig when it is finally on site. No plans to attempt to flow test to gather data required for the submission of a field development plan. No exploration of Cortina prospect. No news of any other recent activity from JOG. If in the summer the appraisal drill is dry then the size of Verbier may be too small to be viable to develop = mothballed minimal book value. Then the share price would be the remaining cash approx. � 15 m divided by the 21,829,227 shares in issue. The current share price is assuming all will be ok.

Sorry that should read So after the next AGM end June, ALTN will have approx. 2,608,483,951 shares in issue. As they will convert the $1.7 million (convertible bonds including interest) to approx. 40,808,488 new shares. AR would then have approx. 1,831,948,493 shares = 70.23 % (assuming that they don't buy any in the market) Also a new loan would only be taken out, if the path of accelerated project development would give a corresponding acceleration to the realisation of value for shareholder(s).

Today's TR1 is a little early, seeing as the new shares are not admitted until 26-01-2018. So it is a bit on the keen side to declare that the threshold is crossed on 22-01-2018. What's the hurry? AR don't own the whole company. Yet.

So by the next AGM end June, they will have approx. 2,975,766,222 shares in issue. But no remaining convertible bonds or associated interest. The other remaining debt Asia Mining $0.8 million Amrita Invest. $1.8 million would be covered by current operating profit. Then they could slowly expand using operating cash flow. Or take out a new cheap business expansion loan to rapidly develop. Looks like ducks forming into an orderly row.

JKX Oil & Gas PLC Today's RNS kicks off 2018 with news of the Successful completion of a well work over in Ukraine. The side track Well IG101Z was safely and successfully drilled, tested, completed and is now connected up and producing into their existing processing facilities. As of 5 January 2018 the well production rate on a 20/64" choke was 2.1 MMscf/d of gas and 55 bpd of condensate. JKX's new board of directors in particular acting CEO Victor Gladun might be in the fortunate position to oversee the start of the process of significant share value recovery for JKX. From recent interview: "....The first wells in the new stage of the company's development will be at the Ignatievskoye field. But this does not mean that we do nothing at other fields. We see a serious remaining potential in all of our main mining fields: Rudenkovskoye, Ignatovskoe, Molchanovskoye, Novonikolaevskoe, Elizavetovskoye. Here we plan to increase the efficiency of the existing well stock and plan to drill new ones. There are also interesting objects for exploration on Elizavetovskaya and Zaplava licenses. ......"

http://interfax.com.ua/news/economic/473939.html On 30-12-2017 the President of Ukraine signed into law the bill No. 6776-d (which reduces production tax for new gas wells) --- http://www.nefterynok.info/stati/viktor-gladun-cena-na-neft-i-gaz-dvigayut-nas-k-razvitiyu 20-12-2017 A good interview with acting CEO Viktor Gladun. With various steps taken to optimise production/revenue. They are planning to drill a new well in January 2018. --- http://www.ppc.net.ua/en/ PPC Website recently updated. Although information on the website about upcoming auctions of Natural Gas and Condensate might benefit from being more frequently updated to bring it in line with that for Oil and LPG sales.

Looks like someone got round to balancing out those 7 garbage database records from 23-11-2017.

http://enkorr.com.ua/a/news/Parlament_vvel_rentu_6-12_na_dobichu_gaza_na_novih_skvazhinah/230469 08-12-2017 In order to increase production by promoting the drilling of new wells, Ukraine's parliament has reduced rental rates for subsoil use for natural gas from new wells drilled after 01-01-2018: for deep wells greater than 5,000m the rate changes from 14 to 6 percent. for shallow wells less than 5,000m the rate changes from 29 to 12 percent. This is stated in the draft law No.6776-d on changes in the Tax Code, approved by the parliament on December 7. The incentive rent does not apply to oil and gas condensate, or to gas wells which are produced under joint activity agreements. The new version of the Tax Code contains a proviso that within 5 years, until 2023, the rates for new wells will not increase. Also, the parliament with a deferral for 1 year, from January 1, 2019, will reduced rates for gas condensate: for deep wells greater than 5,000m the rate changes from 21 to 14 percent for shallow wells less than 5,000m the rate changes from 45 to 29 percent , thereby levelling them with oil and gas. In addition, the Tax Code separately specifies rent for production sharing agreements at the level of 2% for oil and 1.25% for gas.

http://enkorr.com.ua/a/news/Parlament_vvel_rentu_6-12_na_dobichu_gaza_na_novih_skvazhinah/230469 08-12-2017 In order to increase production by promoting the drilling of new wells, Ukraine's parliament has reduced rental rates for subsoil use for natural gas from new wells drilled after 01-01-2018: for deep wells greater than 5,000m the rate changes from 14 to 6 percent for shallow wells less than 5,000m the rate changes from 29 to 12 percent This is stated in the draft law No.6776-d on changes in the Tax Code, approved by the parliament on December 7. The incentive rent does not apply to oil and gas condensate, or to gas wells which are produced under joint activity agreements. The new version of the Tax Code contains a proviso that within 5 years, until 2023, the rates for new wells will not increase. Also, the parliament with a deferral for 1 year, from January 1, 2019, will reduced rates for gas condensate: for deep wells greater than 5,000m the rate changes from 21 to 14 percent for shallow wells less than 5,000m the rate changes from 45 to 29 percent , thereby levelling them with oil and gas. In addition, the Tax Code separately specifies rent for production sharing agreements at the level of 2% for oil and 1.25% for gas. (Handy for the upcoming VAS 10 well )

http://enkorr.com.ua/a/news/Parlament_vvel_rentu_6-12_na_dobichu_gaza_na_novih_skvazhinah/230469 08-12-2017 In order to increase production by promoting the drilling of new wells, Ukraine's parliament has reduced rental rates for subsoil use for natural gas from new wells drilled after 01-01-2018: for deep wells greater than 5,000m the rate changes from 14 to 6 percent for shallow wells less than 5,000m the rate changes from 29 to 12 percent This is stated in the draft law No.6776-d on changes in the Tax Code, approved by the parliament on December 7. The incentive rent does not apply to oil and gas condensate, or to gas wells which are produced under joint activity agreements. The new version of the Tax Code contains a proviso that within 5 years, until 2023, the rates for new wells will not increase. Also, the parliament with a deferral for 1 year, from January 1, 2019, will reduced rates for gas condensate: for deep wells greater than 5,000m the rate changes from 21 to 14 percent for shallow wells less than 5,000m the rate changes from 45 to 29 percent , thereby levelling them with oil and gas. In addition, the Tax Code separately specifies rent for production sharing agreements at the level of 2% for oil and 1.25% for gas. ' - / " ( ) _ + # [ ] ' . = *

I suspect in order to comply with the European Commission's Markets in Financial Instruments Directive and the accompanying Markets in Financial Instruments Regulation � better known as MiFID II and MiFIR which will come into effect across all EU member states from January 2018, various software and databases are in the process of being modified. Particularly the stock exchange trades and transactions databases which would have new fields added to their records. If the software that reads, transfers or displays part of that data, has not also been updated by various 3rd party vendors, then it will either not find records or display garbage. i i i is also currently displaying wrong data - but in a different way. Expect various intermittent flakiness for a while.

http://enkorr.com.ua/a/news/SUG_Geo_Alliance_i_Regal_Petroleum_neznachitelno_podorozhal/230196 200-11-2017 RPT's weekly LPG sale went ahead as normal today.

A law was passed in Ukraine on 16-11-2017 to crack down on harassment of businesses by the authorities. http://minprom.ua/news/237799.html 17-11-2017 "........Business, entrepreneurs should finally receive due respect from the state and the law enforcement system, stressed the prime minister. "The economy, entrepreneurs have respect from the state - this will be from now on." Those who wear epaulettes and are related to business control - I call you from today to talk with business on "You" and with respect. And if you do not you understand and you will press the business, we will reach every corner of the country and bring you to justice publicly , "said V.Groisman . ......." "....Ukrainian business is faced with racketeering by law enforcement agencies everywhere, he said. " I travel around the regions, meet with people, meet with representatives of entrepreneurs, the first question is the pressure of the law enforcement system, we persuaded the law enforcement system employees, they said that we should not do this, we should treat the situation differently. - and then do something completely different , "the prime minister said. ..." "... According to him, the adopted law on counteracting pressure on business will put an end to this issue. "This is the right law, restoring respect for Ukrainian entrepreneurs." I want to thank you for the decision we took yesterday, 312 votes, a decision that will protect the Ukrainian business, " Groisman summed up. ..." http://interfax.com.ua/news/political/462395.html "...While we are passing this law, there are 15 searches in the country, 250 business searches take place daily, and this year this figure already reaches 100,000," said Minister of Justice Pavel Petrenko. ... "

The on-going harassment of various opposition politicians (including Vadim Novinsky = Smart Group = Regal Petroleum) via baseless attacks on their businesses is a known feature of the sad greedy old men culture of Ukraine. There are many examples to be found scrolling back through the past months. http://smart-holding.com/en/press-centre/news/ The (person/persons/investment fund) that has been quietly building up a stake in RPT over the last few weeks is unlikely IMO to be put off by what to them is old news.

Video of Guido Michelotti's presentation at the Oil Capital Conference 05-09-2017 https://www.youtube.com/watch?v=NqaglNBrxfk Pdf of presentation slides from CAD's up-to-date website. http://www.cadoganpetroleum.com/~/media/Files/C/Cadogan-Petroleum/investor/reports/2017/Oil%20Capital%20Conference_2017.pdf?

Much as expected. Pleased to see that the service business has made progress by participating in tenders for third party projects; " ..one contract was won and the work is expected to be executed in the second half of the year".. ---- www.oilcapital.com/conferences Probably a bit too early for new asset news but CAD is presenting at the Oil Capital Conference 05-09-2017.

Cadogan who have been reviewing many possible assets to diversify into, are in the early stages of examining the possibility of investing in three exploration and production licences in Sudan. It may of course (like the AST approach) not come to anything. Or currently like the Italian licences appear to be a very long smouldering fuse. [Link not in English] http://sudantimes.net/index.php/2017-04-04-14-18-17/item/564-news&usg=ALkJrhgW59ehAJ6JD1u4YEIE-YtoZ5iyLg 09-08-2017 " Khartoum: Sudan Times The British Cadogan Petroleum Company expressed its desire to invest in exploration and oil production in the Sudan in three oil boxes (17, 25 and 2 B ) and to enter into a partnership with Sudan National Oil Company Sudabit, Guido Michelotti) during a meeting with Dr. Abdul Rahman Osman Abdul Rahman, Minister of Oil and Gas in his office on Wednesday, The meeting, which was attended by Undersecretary of the Ministry, Director General of Exploration and Oil Production and General Manager of Sudapet Company, discussed the desire of the British company to work in Sudan . He stressed the desire of the company and its readiness to work in Sudan, stressing the dispatch of a British technical specialist specializing in oil to study the technical aspects and make offers for partnership with Sudanese company Sudapet, which is located in the boxes mentioned in the concession. The president of the company that Cadogan Petroleum is one of the companies offered to the British stock market and operates in a number of countries . For his part, the Minister of Oil and Gas, the technical bodies in the ministry in coordination with the company and provide the necessary assistance to achieve the goals of the delayed partnership, indicating that the doors of Sudan will remain open to all companies wishing to work in oil . "