Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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There’s is a difference in posting styles. 1. One Includes background, environment, setting, framework, or surroundings of events or occurrences. 2. One includes non of the above. FYI that’s context :)
MrMagoo31
The problem with a lot of the research that folk on here do is that it just involves trawling for anything that confirms their already positive view. The challenge is to make a genuinely objective assessment of the pros and cons and not to take everything offered up in share promotion exercises at face value.
Are you trying to be genuinely objective or are you just one of those posters for whom CERP and Leo Koot can do no wrong and who bridles at anything that is less than 100% ramp? Do you want to share your research?
MrMagoo31
Can you honestly not understand why folk might consider selling on the back of that update, even at 2.75p?
To be honest I suspect many would have used the sell button if they were in profit....I for one would have but being in from lgo days I don't possess that luxury...not yet I hasten to add..
“This is not a football game where we support our team come what may” very true so why not make a stand by leaving early and selling your season ticket! (Unless you already have;-). ). Then you can do what most of us are probably doing anyway.... You don’t have to turn to the dark side to do it though... it’s people buying and selling deciding the sp. not the “manager” sacking him won’t give us a new manager win bonus! This is real world stuff not that stupid air bag chasing game! You have every right to be disappointed in results! Many were, I was... but you control the sell button!
8. Don’t forget the wider Caribbean was also included in previous presentations.
and whilst I am at, rather than this fake MM-evil story we hear all the time (“the company is so fine, but the naughty MM’s kill the sp”. Duh!)....why did LK issue that Tweet. Lots has been said about that. Here is another scenario: “I am going to get me a sweet new deal. I will have to do a placing...will simply call it accretive...Worked last time !” “Hmm, SP a bit low....could Tweet something to get it higher, so the placing price is higher too. Genius!” “ On my way to sign me a deal now” Other party sees right through it and tells LK “we will sign after your RNS”, thinking he will disappoint yet again, and they will get the shares cheaper. All speculation, wouldn’t be surprised
8. Following Steeldrum, “we are sitting string of pearls” => forget the pearls, forget deep explanation at SWP, I am going to South-America. CEO’s get fired all the time for missing targets, doing the M&A deals. Why should this be any different? For me it is simple: I like Leo as long as he delivers. Simple. He did a great job initially, but the latest set of performances and broken promises has been very disappointing. You would be a fool to say otherwise. This is not a football game where we support our team come what may, it’s an investment. Criticism is not only sound, but justified. Anyway, at least if LK gets sacked by end year, you will have had a heads up here.
sorry, meant 2018....
Morning soup
Lgo meant 2018 and yes this was stated by Leo.
1. December 2017. http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=4h0gkezt&ArticleHeadline=Holdings_in_Company October 2018. http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=b8fr4o68&ArticleHeadline=Holdings_in_Company 2. High case 1600ish bopd, low case 900bopd targets for end of December 2018. https://columbus-erp.com/wp-content/uploads/2017/06/End-of-Year-Update-December-2017.pdf 3. Via media? 4.Q4 update:” Following the Steeldrum acquisition, the focus of the Company in Trinidad is to optimise cashflow and profits from our six assets. This is possible given the differing commercial/licencing structures associated with each asset. Greater cashflow returns and profits can be achieved by producing more barrels in certain fields, when compared to others, due to higher netbacks from sales. The Company will target profit over "production per se". http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=u2sai1vz&ArticleHeadline=Business_Operational_and_Financial_Update_Q4_2018 5. Middle Cruse in the SWP found at depths of 2500ft(Icacos) - 3500ft (Habanero #1/Bonasse), shallow? Costs via media. 6. Q1 2019 update: “The water injection Pilot A implementation in the Goudron field that commenced in July 2018 through injection into GY-667, continues to show evidence of direct pressure communication with target offset production well GY-665 but without any sustained increases in oil production. Plans are in place to commence water injection into GY-209 in Q2 2019 to test support to offset well GY-664 as a continuation of Pilot A.“ http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=0g5sre6v&ArticleHeadline=Business_Operational_and_Financial_Update__Q1 7. ?? The clue is probably in the field name.. Tar!
Lgo-fan, regarding number 2, the target of of 1000-1600 by end 2019.
Was this stated by Leo at somepoint ? when
As a reminder: 1. “No dilution” => Schroeder one week later 2. “between 1000-1600bopd by end 19 in Goudron alone => not even close 3. Material M&A before end 2019 => still waiting 4. Q1 production to be more in line with1000 bopd production in Dec => 600 bopd 5. SWP: 2-3 deep wells costing min $2million=> one shallow well at 0.5 million. 6. Goudron WF: Judge me by barrels of water injected => no more update 7. “Something massive lies underneath Goudron => gone very quiet Probably missing a couple of others....Starting to feel a bit Charlatanesque....He has a massive job to do, to regain his credibility.
I agree Koot looks a lot less confident than the start. I started noticing the change several months ago. the honeyoon period - where a lot were worshipping him unquestionably - is over.He is coming under more scrutiny.
To be honest I was expecting about 800bod - so actual production was a disappointment. He obviously just hit 1000bod to hit the target back in january. it looks like it is not sustainable now.
I think he knew things were not going to go well with that RNS so the tweet and new country mystery were an effort to booost the SP and try and stop the drop. Wkilst the SP possibly is higher than otherwise a lot of damage hass been done in terms of credibility.
I always said that this quarterly udate would be too soon - so would have given him the benefit of the doubt. I think he has one more quarter to get a significant devlopment or the SP could really suffer - and the likes of schroders will be questioning their involvement.
I think he can do it - but no more games please!
Magoo/ Neon - Soupo reminds me a bit of Irene Krapp who used to regularly poop herself about risks to other people's money - Soupo no one obliging you to buy in here - if you don't believe the risk is worthwhile find something better - it's your money - not mine - you decide on your own risk !
Hopefully we should see the SWP plans come the next Quarterly update.
Ritson was ousted with the exact same strategy... If oil prices and the share price was much higher I may agree with you.. but then again, with how finances are handled by Gordon I don’t think we would see the need to.
If they did that.. the old stigma from LGO would continue... I don’t think the market conditions are in favour for such a strategy. You could say it’s a lessons learnt from the previous regime (which many expressed their discontent).
Could be worse, CERP could have a CFO and a CEO that would take the easy option in a share fund raise or a loan for in-house development.. like we have previously seen under LGO. But they’ve taken the route to be self sustainable. We have Gordon keeping a close eye on all expenditures and revenues and we have a CEO listening to his CFO.. Having forward looking plans such as the following.. “Following the completion of the first well, the Company may seek third parties to farm-in to the SWP when justified by cost and/or risk sharing.”
Magoo, neon
So to get to a 500 MC in 3-5 years, what would you expect the MC to be end of next year (Y3) to show it is at least on track., given we are at 23.5 MC right now.
If we assume a linear progression we would expect the Market Cap to be about 158 end of next year, and 317 end of year 4.
Is that achievable do you think , or what would be reasonable MC in your opinion by end of next year, which would get us there ?
( Or are you living in cuckoo land. and it would be better to admit that poor Leo is going to miss this by a country mile too )
CERP has become one of those bottom drawer stock. It will come good, just taking a big longer that’s all
LGO-fan
You have all the rights to get angry and feel frustrated as it’s taking a lot longer than any of us anticipated. I agree that Leo Koot is not the only expert around us who can do similar or even better job than him but to be fair, he has been in for only 2 years and has another 3 years to implement his 5 years plan and get the MCAP around 500M! It has been proven very hard to to increase production thus generate good profits that he initially anticipated, therefore the SP is still hovering way below 5p. Things will change but will take a while before things start happening which is a problem in TT where everything moves slowly.
All the best mate
GL
and to be clear, I am not in CERP for LK. I was here before him. I was here for the SWP. I don’t care who gets the job done. Plenty of CEO’s in the sea. Dry your eyes out, mate.
For me it is simple. I judge a man by his word, and then I judge him by how he delivers against it. He has missed far more targets than I care to remember. In my world, people who don’t deliver, get the opportunity to look for the “next phase of their careers”. Same for Leo.
Mossma - interesting perspective.
You've highlighted one area where I now struggle with LK. If the success of Goudron, etc. was based on whether SPT would be changed then, for me, that would really reinforce the thought that LK has strung us along. It may well be that SPT is a dis-incentive to invest in increasing production from Trinidad assets but that seems to have always been the case and was certainly the case when LK was targetting 1000 bopd.
The lack of the big deal that others have highlighted today is another area of concern. The game-playing tweets is another disappointment. The fact that the Mail on Sunday have listed CERP as the 3rd biggest faller on AIM today is a big disappointment too.
On this Easter Sunday, I don't think that we're needing a miracle to resurrect CERP but this last week has been disappointing.