Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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'Ask Peter: Can Other Countries Replicate the US Shale Revolution?'
https://www.youtube.com/watch?v=7Gdvo8QPuMk
His videos are always informative.
Surprised this is still going after all the cash the CEO has milked out of it. Bailed in 2018 at 2p… thought that was low then but this is a perfect example of AIM corruption
Salmon Slacks has destroyed the company and has enjoyed a great lifestyle at the expense of shareholders. Transformational? National importance? Monetisation? All of his projects are just a side show to keep the 'working capital' trough open for his snout. Fiduciary duty of a Director. What a joke!
This is a ponzi scheme period.
When will salmon slacks get investigated is what i want to know.
No more wages for sanderscam.
This isn't an oil business.
It's a borrowing money business.
I agree with Ilovesushi.
You just have to look at just how little disposable cash has coming in.
" UKOG's net share of Horndean production revenues was £297,000 for calendar year 2023, with net earnings after costs of £140,000."
Overall profit from oil production was £275k. It follows that the profit from HH production was only £135K.
It has to be a priority to improve HH performance by injecting, changing the downhole pump and descaling . Yet, the lack of activity suggests UKOG have run out of the cash.
Its patently obvious UKOG do not have the cash to pay their share of any new HH wells either.
I can not see how they can raise enough cash without authorisation to create a ridiculous number of new shares, BUT, would they be able to offload?. Looks like sourcing further death spiral financing may now be off the table.
UKOG base their 'going concern' on their previous successful history of equity based fund raises.
Its now a matter of how much cash UKOG has left and whether they can quickly get a miracle farm out of Loxley with a significant cash up front component. I do not see it happening.
Of course; price of oil surging to $400 a barrel would be enough to keep the lights on BUT that's pretty unlikely, imo.
Looks like the end is in sight, imo.
Looks like the company is finished as too many shares will have to be issued to raise any significant amount of money to keep the company afloat.
Looks like another RiverFort Global Opportunities PCC Limited and YA II PN Ltd death spiral. They are not supposed to short and say they will not but surely they can sell their holdings and each time get more shares in a dilution? Or have they had enough and will walk away?
Looks like the company is unable to raise the funds this time. RIP administration cannot be far away. AVOID
Done more than my fair share of research IBUG thanks.
I didn’t fancy coming to your 2020 party as most of the guests were liars, just plain mad, or thought sitting outside an oil site for days on end was classed as fun!……..I may be a bit early to the new shindig! Is it get well soon, or is it going to be a wake is the question now?…..looking forward to the reading of the will to see who gets what if it’s the later!
Who is going to make the first sell in the 0.02's?
WG818
DYOR. You are also a bit late to the party as it was all discussed back in 2020 when HH-1 started producing copious amounts of water. Better late than never I guess.
I’m glad I can put a smile on your face but, I’m guessing that’s a rare occurrence?….only I mentioned the permissions in place from the EA, and the planning permission required, the transport costs are minimal compared to disposal via incineration, and Angus used to transport the waste water from Lidsey to keep the pressure up at Brockham until permission was withdrawn as Angus failed to answer the EA,s questions on a couple of times of asking. I’m intrigued as to what you mean by water treatment though?…..are going to use it for water boarding the management as they pour it down the injectior well?
WG818
Your naivety is amusing. You obviously haven't taken into account transport costs, water treatment, compatibility and permissions in your thought process. Good luck with that.
Should pink trousers be up for the high jump?
Behave yerself WG lol.....
You always end up agreeing with me in the end Bubbles!……you just don’t admit it!
Totally agree with WG on this (god help me ;-)
These outfits "should" work together where common sense & logic save both time & money, along with optimising the use of what is already there !!! Plus a few tankers of water would give Adrian & pee boooo something to sit in the bushes and look out for too !!
You’re an absolute delight IBUG! You must be popular at parties?
Simply pointing out that water disposal at Brockham could be mutually beneficial, or make casting an eye over one another's assets makes a lot more sense than spending 100s of thousands on downhole works at present. The bad blood between previous directors at the two companies is surely passed, as the Angus Board has all but changed bar Mr Carlos Fray Bentos.
Ibug,
What about the consolidation? He seems to be over 95% down when you exclude his generous wages.
Long live The Dear Leader.
Every 50k they can get their hands on will keep Scamderson in a job for another months so he will do everything possible to keep things going, he would issues 500,000,000,000,000 shares at 0.001p if he could get a few more quid in his pocket, we might even see the market cap lower than his yearly salary but he is happy as long as he has got his fat mouth in the trough.
SS shares are now worth about £2,343. Considering they cost £12,457 that is not a bad ROI for such a canny Director.
WG818
Making it up as you go along? You are a typical bottom feeder. Where did you say " I simply pointed out that water disposal in UKOG case costs a fortune and they haven’t paid to sort it out yet,"? £250k is hardly a fortune out of the total cost of sales. I very much doubt if you even invested here.
OK, thanks for letting me know.
Did you get up on the wrong side of the bed ibug? I simply pointed out that water disposal in UKOG case costs a fortune and they haven’t paid to sort it out yet, and Angus requires 150 barrels of water a day for 8 years to get the pressure to extract from the Portland. I’m sure it won’t have slipped the attention of the Angus board as theysearch for investment opportunities as they are neighbours and actually drilled the well in the first place!…….not than they can afford any expansion either.
The Companies Act says the AGM has to be held within 6 months of year end, so they are already breaking the law.
As far as I can work out none of the directors are up for re-election. SS is due for re-election next year (if UKOG still exists)
Are the directors up for re-election