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https://www.cnbc.com/video/2019/02/01/technician-who-called-the-gold-rally-now-sees-this-for-the-metal.html

Put an extra $50 million per annum in POG coffers imagine an increase of say $800 would eradicate POG debt in two years

just watching incredible video on cnbc technical analyst saying gold to continue much higher.

I agree and can see gold make $2000++ in coming year

Central bank demand for Gold highest in 50 years!

Venezuela recently asking for its gold reserves back from Britain told NO why because Britain know gold is rising.

https://commonstockwarrants.com/why-commodities-are-poised-for-their-biggest-rally-in-50-years/

share overhang being cleared nicely could set up for a BIG rerate

I have a feeling that will fall and boom 15p in swift order potentially much higher theres a lot to like here today maybe 2019 is Pavs years I have a feeling it will dazzle.

years to conclusion but this bit was interesting:

" PY-3 - The arbitration tribunal, overseeing the arbitration between HEPI and the other uJV partners, is expected to issue a decision prior to end 2018. "

OUTLOOK
· CY-OS/2 - The UOI appeal of the CY-OS/2 arbitration Award is expected to commence shortly in the Delhi HC. Based on past performance of the India Judiciary, the appeal process is expected to take three to five years to conclude. A hearing for the UOI's set-aside application against a UK enforcement order is due to be heard in the first quarter of FY20.
· PY-3 - The UOI's protracted review of the uJV's unanimously agreed revised full field development plan (RFFDP) and extension application has compromised the likelihood that production can recommence prior to the expiry of the PY-3 PSC.
· PY-3 - The arbitration tribunal, overseeing the arbitration between HEPI and the other uJV partners, is expected to issue a decision prior to end 2018.
· GS-01 - It is expected that GS-01 will continue to be mired in a pending dispute over unfinished minimum work programme between the UOI and the Operator (Reliance).

Alasdair Locke, Chairman of Hardy, commented: "Our considerable efforts to enforce the CY-OS/2 Arbitration Award, handed down in 2013, have not produced a meaningful outcome. The UOI has consistently been allowed to adopt strategies to frustrate the enforcement process by the judicial institutions in India, UK and US. Consequently, we are now curtailing funding to the wholly owned Indian subsidiary HEPI and reviewing our strategic objectives for the Group which could include one or more of individual asset sales, a sale of HEPI and a sale of the ongoing CY-OS/2 litigation. I will report back the conclusions of this review to shareholders in due course."

SUMMARY
CY-OS/2
· The Supreme Court of India (SC), after 48 listings over 24 months, overruled a previous Delhi High Court (HC) order and deemed that India Courts did have jurisdiction to hear the Government of India's (UOI) appeal of the CY-OS/2 international arbitration award (Award).
· In June 2018 the Washington District Court declined to Confirm the CY-OS/2 award reasoning that the restoration of the block was against US public policy and given the two parties did not agree on the methodology of computing the compensation portion of the award it could not be confirmed. Hardy Exploration & Production (India) Inc. (HEPI) had been seeking a lower figure than the UOI had represented. HEPI has not appealed the order.
· HEPI had secured an interim third-party debt order (TPDO) against a $9.0 million guarantee fee due from India Infrastructure Finance Company (UK) Limited (IIFC) to the UOI. Upon appeal, the Court concluded that the debt did not reside in the UK and dismissed the TPDO and awarded costs. IIFC is a UK registered company, borrowing and lending funds within the UK, maintains a business premise in London, and the payment transaction was contracted to be from IIFC's UK bank accounts. HEPI did not appeal the order.
PY-3
· The UOI review, of PY-3 unincorporated joint venture's (uJV) unanimously recommended Revised Full Field Development Plan (RFFDP) and application for an extension of the Production Sharing Contract (PSC), has been ongoing for more than nine months which is beyond the time prescribed within the of UOI's own PSC extension policy.
· An arbitration between HEPI and the PY-3 uJV partners continued through the period. Final written arguments have been submitted and the matter is reserved for judgment.
Financial
· Having considered India's SC ruling, to allow an appeal of the CY-OS/2 award in India courts, the Board has decided to write-down $51.1 million of Intangible Assets associated with CY-OS/2 exploration expenditures. This resulted in a significantly higher total comprehensive loss of $54.1 million for the first half of FY19 compared to a loss of $2.0 million for first half of FY18. General and administrative expenditure included legal expense of $2.1 million compared with $0.8 million in the comparable period in FY18.
· Cash and short-term investments at 30 September 2018 amounted to $5.3 million; Hardy has no debt.

OUTLOOK
· CY-OS/2 - The UOI appeal of the CY-OS/2 arbitration Award is expected to commence shortly in the Delhi HC. Based on past performance of the India Judiciary, the appeal process is expected to take three to five years to conclude. A hearing for the UOI's set-aside application against a UK enforcement order is due to be heard in the first quarter of FY20.
· PY-3 - The UOI's protracted review of the uJV's unanimously agreed revised full field development plan (RFFDP) and extension application has compromised the likelihood that produ

so has Hardy won the legal award below?????

CY-OS/2 exploration licence background - Hardy is the operator of the CY-OS/2 exploration block and holds a 75 per cent participating interest. The block is in the northern part of the Cauvery Basin immediately offshore from Pondicherry, India and covers approximately 859 km2. The Ganesha-1 discovery well was drilled to a depth of 4,089 m and on testing the well flowed natural gas at a peak rate of 10.7 mmscfd.
Â
Award summary - relinquishment by the Ministry of Petroleum and Natural Gas (MOPNG) of the GOI was illegal; the unincorporated Joint Venture (uJV) shall be entitled to a period of three years from the date on which the block is restored to it, to carry out further appraisal; the uJV shall be paid compensation calculated at the simple rate of 9 per cent per annum on the amount of Rs. 5.0 billion from the date of relinquishment till the date of the award; interest will then accrue at a rate of 18 per cent per annum on the amount of Rs. 5.0 billion until the block is restored to the uJV. As published in Hardy's Annual Report for the year ended 31 March 2018, HEPI's compensation entitlement amounted to US$78.2 million.

interesting buying here what's happening?

Wednesday 13th February, 2019
Full Year 2018 Tullow Oil PLC Earnings Release

bit lazy ive now found it I believe the results of shell profit surge must be an indicator what may happen here?

must bode well can someone advise when results are due here?

guys forgive my lack of up to date knowledge but has the been any update since:

"12th Apr '18
BRIEF-Beowulf Mining Says Cannot Give Definitive Timing For Kallak North Exploitation Decision "

obviously this was nearly a year ago my feeling is surely they must update soon and sense there is growing optimism

remember the story Richard Branson buying emi for a tiny sum of a £1 and sold for millions or something along those lines

this isn't about share price metrics its about assets against debt value the mcap share price is essentially zero shareholders are irrelevant its about debt value attributed to assets.

interesting I sense the spring is about to sprung LOL

I fully expect a big jump to 4-5p here very soon

someone yesterday drew the comparison with SOLG interesting indeed I was in SOLG at 1.2p up to 6p and was happy with a 6 bag. I chuckle sometimes looking at SOLG today.

I spend a lot of time looking for the next SOLG and believe with the prospect here this could easily be the next SOLG

is the hurdle and looks like we are going to leap that in style! 4p could come far faster than many here expect.

possible today