Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Oil could bit $380 a barrel
https://www.thetimes.co.uk/article/a7ea34b8-fa10-11ec-9dc9-dea4f592180c?shareToken=f6ee96ead5fbca55b1c5806735baac1e
Now OEX owns 100% as there past partner defaulted on payments and OEX got a steal.
100% acreage is worth well over £13m, Contingent resource of gas is 1TCF with 60MMstb condensate.
Back 2013 Magna took a stake in Cambay Acreage, they took 10% for $4m with further 5% option for $2m.
At the time we had 55% govt partner and the indian govt refused the deal, so magna took a stake in OEX for the same $4m payment.
Based on those metrics the Cambay project is worth 40m as is and with production the value will increase.
OEX believe the frac has over 75% of being successful in the C77H live well, i confident they will get decent JV partner who will drill 1 or 2 horizontal well for farm in 45%.
Current mkt cap is 13m which is a steal in my view, this month will be interesting
Gareth
Couldn’t agree more, especially with oex being the rollercoaster ride it is. And yes, here’s hoping for a few exciting weeks/months coming up. Have a grand weekend
Espen
You’re very welcome to hold the crown of the RNS, I have neither the money or the balls of steel required to overtake you, quite happy with my holding, very much looking forward to the next few weeks with news rolling out
Lol, you’re more than welcome to overtake me Gareth;)
My 3 million was just before yours… agree they better deliver as I’ll soon be catching up with Espen :)
Mid july, workover rig got their on 20th june.
When’s the Frac due to commence
investors slowly coming back, taking their positions, not long.
C77 well will likely be off production now ready for the frac... Contingent resource of 1TCF and 60m barrels of condensate is huge.
Remember 1tf converted to boe is around 175m boe,
2p reserves which is proven and probable is 36mboe of gas and 8mmstb condensate.
In the same boat as u buddy
Gla
Yes what about the old fracs? Of you pump fluid down the wells and proppants they going into those fracs too.
Maestro. They have said they will refrac 2 zones from which they are hoping for around 2mmscfd .
For the new wells they are hoping for 4-5 mmscfd. Atb.
The company are going to refrac live well and make two more fracks in it, last time around they made 4 fracs and the company believed only one was producing and the other 3 were blocked, now with this refracing I'm assuming the four current holes will also be refraced?
They will be using ceramic proppants this time around rather than sand. I read earlier rns where they gave range Resources as a example which managed to crack the fraccing code to increase their flow rates in usa.
Schlumberger and Bakers have both analysed past well data and done simulation models and believe gas and condensate can be recovered in commercial quantities.
I keep adding they better nail this lol
When Cambay-77H was spud in 2014, OEX only owned 45% of the Cambay asset and had mkt mkt cap around £25m, now OEX Owns 100% of asset with 2P reserve of 206bcf gas and 8MMstb Condensate with a mkt cap of only £13m.
Said it before this should be trading above 30m mkt cap before the Refrac. Its a proven field, Schlumberger are experience frackers.
Interesting article on refrac,
https://www.enverus.com/blog/makes-successful-refrac/
Yes lah0re you were right. Strange thing is what was presumably the buy trade was showing up at 0.155 instead of 0.165 as in the rns, which is what made it look like a sell.
I believe even the 2 trades today at 15.00 are similar trades, probably done by another director, both are £16.45K.
Well, it’s encouraging to know that Peter Schwarz has faith in the company long term.
lah0re
you were correct, director done a bed & isa.
Imj
The herd will eventually arrive, tomorrow we are in july so its literally days away the refrac.
Whoever buying under 0.2p is getting great deal.
Bradley, hopefully we get an update on the current flow rates for last month, including status on fixing the pipeline capacity. Equally, seems we might be due some news in CCS license application. Furthermore, hopefully a confirmation re-frack gets under mid month, and another to confirm it’s completed and they will assess the results. Could be plenty of news flow throughout July..
Looks a few share options might be expiring today..unlikely someone will buy at the exercise price I think is fair to say..
who is optimistic about good news in July and a sharp rise in august in the value?
Lol.