Gasol PLC seeks to capitalise on acqusition and investment opportunities in the oil and gas sector with a geographic focus in the Gulf of Guinea region of West Africa and specifically on opportunities in the hydrocarbon sub-segment of liquefied natural gas.

The company have recently completed a round of corporate funding via loan notes at a significant premium to its current shareprice and look set to make advances on its plans. There could be an exciting period ahead for gasol as they look to monitise various exclusive agreements with large regional players such as AFREN PLC and AFGAS.

At todays closing mid price of 0.375p there looks to be SIGNIFICANT UPSIDE on this unique african focused liquified natural gas company.



NIGERIA::::

Gasol has entered into an exclusive Project Option Agreement ("Option Agreement") with Moni Pulo (Petroleum Development) Limited ("Moni Pulo") in respect of all of the gas in Nigerian offshore licence area, OML 114.During the exclusivity period, Gasol will have an opportunity to make a proposal to Moni Pulo regarding the development of OML 114, including exploration, development and offtake. If Moni Pulo accepts the proposal from Gasol, it is then the intention of the parties to work together to conclude definitive gas purchase agreements for development and sale of all of the gas in OML 114 to Gasol.

OML 114 is situated in shallow waters on the coast of South East Nigeria at the mouth of the Calabar River, within a locality that has a number of known gas reserves that could, subject to agreement, be used in due course to augment a Gasol project. The licence area has been drilled and surveyed since the 1990s and has gas reserves of approximately 750 billion cubic feet (approximately 107 million barrels of oil equivalent). Gasol has commissioned initial pre-feasibility reports which indicate that the available gas could support LNG production of over 800,000 tons per annum for 10 years or fuel a 500 MegaWatt power station for 20 years.This agreement represents the first step in the development of the Company's new strategy and offers Gasol the important opportunity to secure a known supply of gas for monetisation.




EQUATORIAL GUINEA::::

Gasol has negotiated a revised agreement with Sociedad Nacional de Gas, GE ("SONAGAS"), the national gas company of Equatorial Guinea, in respect of the associated gas from the Zafiro field ("Zafiro gas").
Under the terms of the amended agreement, the Zafiro gas will now be used by SONAGAS in a newly structured entity for the production of ammonia/urea based fertilizer and/or other similar gas derived products, which is being developed with international investors.

The Zafiro gas was previously being developed in order to produce LPG, condensate and lean gas for sale, with development being carried out by SONAF, a partnership jointly owned by Gasol and SONAGAS.

Gasol and SONAGAS have agreed that, as compensation for giving up the rights to the original gas project, Gasol will receive the following benefits:

§ Gasol, through SONAF, has been appointed as an agent for the purpose of developing a market in West and Central Africa for purchasers of liquefied natural gas produced by the EG LNG project;

§ Gasol has the option to invest in 5% of the equity in the new Zafiro gas project;

§ US$2.0 million of development costs incurred by SONAF on the previous project will be recoverable from the new gas project, and will be reimbursable equally between SONAGAS and Gasol. In this regard, Gasol has previously written off all of its costs relating to SONAF.

This revised agreement complements Gasol's new strategy, in particular the Company's aim to see, and be involved in, the development of a West African focussed LNG market, whilst also ensuring greater likelihood of a successful gas project based on the Zafiro gas.




These are the main shareholders of Gasol plc.


Percentage of total stock:

African Gas Development Corporation Limited - 585,897,670 - 53.03%

Afren plc - 226,421,354 - 20.49%

Synergy Asset Management Limited - 75,000,000 - 6.79%


The percentage of the Company's AIM securities that are not held in public hands is 84.89%


http://www.stockopedia.co.uk/content/edit/gasol-plc-funding-now-secured-to-advance/63226/

Just found this on another bb this morning,something afoot here IMO




DOW JONES NEWSWIRE: LONDON ROUNDUP

January 12th 2012

Gasol Plc ( GAS:LON ) announced that it has entered into a convertible loan facility

with Banque Benedict Hentsch & Cie SA,the facility has an interest rate of 5%

payable at maturity or conversion, and carries a conversion option whereby the

lender has the right to call for the conversion of the loan into ordinary shares of

Gasol at a price of 0.60p per share.The company have now completed the fund

raising which started at the back end of 2011,and thought to be in a strong

position to convert options on Block OML 114 in nigeria where resources of

750 billion cubic feet of gas (approximately 107 million barrels of oil equivalent)

have been identified.

davyboy.....they have now raised a fair amount of cash at 0.60p + via loan notes and from what i see are fully funded,so current price looks a steal ahead of news IMVHO

The last analyst reports on nigeria and guinea gave an 8p per share valuation on
modest lower case.Some good potential upside here for sure

anders if you refer to the edison report that suggested 8.195p from memory

splitting hairs I think.,.

Not sure this 8p+ target price is realistic but i can easily see this over 1p with next month or two

Great news from AFREN today guys,a major discovery in south east nigeria.
Afren are a major shareholder of gasol ( 20%)