bobdog2000
16 Dec 2014
Re: P.G. [link]
OLADAPO OGUN
16 Dec 2014
Re: P.G. Looks like a german firm has farmed into barryroe, so the celtic sea farm in might be a reality after all!
OLADAPO OGUN
13 Dec 2014
Re: P.G. The royalty agreement would become operational if oil had been found , that agreement is with Fastnet. It would only have worked out had oil been found and production was to be started. However as Fast have no interest in being a producer, the agreement would have been a non starter as he block would be sold in the event of a discovery hence Zero royalty. Shame they fell out as you mentioned, because he introduced the company to all of their assets!
freelance2
13 Dec 2014
Re: P.G. It is ossible that the Pan Mahgreb ownership and royalty agreement was seen as a conflict of interest, with PG and others benefiting to the detriment of Fastnet and its shareholders. Clearly there has been a falling out between PG and the other directors. A pity since he is a good oilman.freelance
White stick Investments
12 Dec 2014
Re: P.G. Yes . I do not pretend to understand the cancellation of the Foum Assaka royalty agreement . Has anyone any ideas ? Regards. P
shedfull
12 Dec 2014
Re: P.G. He is now the sole owner of Maghreb is that correct
White stick Investments
12 Dec 2014
P.G. As the Maghreb is an area inc. most of western N. Africa . It is not unreasonable to assume that P.G. in his co. Pan Maghreb will be active there now. P
White stick Investments
11 Dec 2014
Re: Jigsaw I hope this helps. [link] P
bobdog2000
11 Dec 2014
Re: Jigsaw What is Pan Magreb?
White stick Investments
11 Dec 2014
Jigsaw We know the oil price drop part of the jigsaw. I for one am unhappy over the departure of P.G. From the presentations he seemed on top of his game, I held him in high regard. 'With immediate effect' smacks of something? Directional or Personality? Is Pan Magreb a piece of the puzzle? P.G. and C.F. both hold nearly 19m shares each (around 5% each) evens in a power struggle. P.G. still retains his benificial interest, it would be interesting to see if he has anything to say should he be at the A.G.M. With regard to the current healthy capital situation, it is nice, but it only represents 5 years working cap. without further expenditure.There is the possibility of a s.p. changing R.N.S. within the coming year. Not for widows and orphans!Regards P
bobdog2000
11 Dec 2014
Malcolm Graham-Wood Carol Laws has taken over as CEO at Fastnet as Paul Griffiths steps down, Will Holland remains as CFO. Current market conditions have not helped Fastnet as the Celtic Sea farm-out has been delayed as has the onshore Morocco deal. However long term the portfolio is in good shape and pretty robust which is what is needed at the moment.- See more at: [link]
onedb1
10 Dec 2014
Re: RNS Oladapo,You said it correctly , "its the silly season" . All stocks no matter whether they have cash or not , no matter what their G&A is, no matter what resources , no matter whether its oil or gas, get battered. I mean FAST's cash flow is not affected , it has cash , it has low yearly running costs and both Celtic Sea and Morocco assets are worth millions . The over reaction is as always a big problem for micro and small caps. This firm is not leveraged to the price of oil , yet it fell like it was . BP or Shell did not fall in % terms in the same way yet they are producers etc . The only thing I can say is that had we been at 20p I'd be concerned the average is too high , but at 3p or say sub 10p , I don't understand the bearish view. The other day the rumour moved the stock from 5,5p to sub 3p ! Now that the rumour of the medical technology joke has been totally rebuffed the stock has not even managed to recover to that level ! It beggars belief . Basically any unfounded nonsense affects the price but when its disproved the share does not recover ? Clearly many PIs are thinking about Christmas at the moment and not thinking properly. A carpet bombing of all stocks in the sector . Yet I am quite sure that those with bigger pockets have started to build their stake up. Don't discount a possible Carol Law buying stocks at this discounted price . My money is on Directors buying stocks as when you read the presentation and look at the market cap of £10m (at the moment) it is quite frankly a crazy disconnection. Simply look at this Cash at Bank $18m or £11.5m ( @1.56 GBp/USD) Celtic Sea ( looking to recover $20-22m ) plus get a carry for drills in 2016 . Now the value is not just the $20-$22m but the extent of the commercial agreement for the carry and eventual confirmed discovery which the 3D surveys suggest are big . Surely a multiple of the current market as frankly it wouldn't take that much Gas or Oil for that. At any price . Then Morocco assets which are even more interesting . Add all that and you get £10m ? on what planet ? I insist in drawing the attention to the presentation today . At 3p this is a multi bag , stick it in your ISA forget about trading. Focus on 18/36months .
OLADAPO OGUN
10 Dec 2014
Re: RNS Everything would be clarified at the next presentation! It's impossible to understand why with all the resources at Tendrara and the price of gas in Morocco , a farm out still can't be done. It's sillyseason in the oil sector folks, that's how I see it. This could easily be the next rovuma with the resources in place!
onedb1
10 Dec 2014
Re: RNS hold on ,have any of you read the presentation and the RNS ? Celtic Sea is only delayed and the resource is considered to be pretty big . FASt is not just exposed to Oil prices but Nat Gas too and if you look at the prices in Morocco they are about 3 times the current Nat Gas contract in the US . They have not moved in line with the decrease of oil prices. It is a massive mistake to tarnish Fast as just an oil exploration company . ( or any gas exploration company) Read the latest presentation on the website . I like what I read and don't share all the negativity and false rumours ( which proved to be false as I posted immediately) .Someone wanted stocks on the cheap and got them off some of you ... suckers I must say . Sorry but the medical technology story was pretty funny . I now here they want to open pizza restaurants too... [link] very new CEO has shares at 6p , 1m of them . Not a gigantic amount but still £60k worth . For someone with her background of returning share value it seems weird to me that we are trading at 50% less .
Damp Seaweed
10 Dec 2014
Re: RNS Maybe a bit longer than 18months but where does that put FAST in the meantime, ?========== ==Unfortunately investors are left treading water.I will be setting an alarm clock for 1st qtr 2016
