Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
To be honest
losses last year was expected - they were mainly with previous BOD last year and do you think cost cutting measures happen straight away
Even so, im still expecting losses this year even with reduced costings, reduced cost of sales in the AJE partnership but a lot is because of COVID19 and the current oil price
We don't know when the next uplift will happen and if the next uplift will clear project debt
A new CEO was appointed last year and a whole new team is in place. They have significantly reduced the cost base of the business, which is what makes the company profitable at a lower oil price. This obviously hasn't had time to feed into financial results yet, nor has the increased interest in OML 113.
http://www.admenergyplc.com/investors.html
Not sure you know what you're talking about Greenspan. ADM are profitable on their existing assets with the oil price at 28 dollars due to them acquiring at a very attractive price (watch the most recent investor video on the company website).
In terms of your point re 'sub economic' fields - smaller oil fields don't shift the dial for majors and their profitability has been hammered by the impact of Covid so majors are looking to divest at a time when the oil price is under pressure so there will be huge opportunities for further acquisitions. Due to the low cost base of ADM, these investments are very profitable.
With this company's market cap being so small, the potential upside for investors is huge.
I looked at the Prince earlier today :)
It may look great on paper, but having been here since the start and beyond, I will believe it when and if it really gets going and the numbers show. We had a deal with Nigerians years ago and it turned out to be a right mess. They kept spinning yarn after yarn. so I don't trust them. Only when the 'Money is in the Bank', is the deal properly done...not before.
For those who've here from the outest, may recall the three Wells that were going to make us a fortune. Remember the PEMEX deal. What a shambles. Some of It made Stefan Olivier a few quid, but not us, so whilst I'm rather pessimistic by nature, it isn't such a bad thing when dealing on the AIM where one has to assume that nothing will work and if it does, all well and good. Short of that, the AIM is used to make the CEOs money, then they walk away or delist.
Been on the AIM since 2003...won a bit, lost a hell of a lot. This is the last of two of my holdings. The other is STA which is a total disaster after 12 years holding, but there's always a slight chance, but not with STA, maybe here, so I will stick it out for perhaps another year?
Everything is certainly going in the right direction, another positive announcement today
Nigerian marginal fields specifically require the involvement of an indigenous Company like Oilbank, so ADME will likely sign a FTSA (financial & technical services agreement) for a 40% share as the foreign technical partner, but with preferential cash-flow whilst recouping expenditure. Research the Chairman of Oilbank Int’l... it’s why I topped up today.
I assumed they would be there to buy their own investment with the backing of Trafigura - with them been the developer / main operator - especially given the recent appointments.
Now they are technical advisor to OilBank with the option of investing in the project - means ADME will likely again be the minority in any new project
not following your argument at all tbh.
Todays update is an MOU with a Nigerian company which will very much strengthen their case in the Nigerian licence awards (given these will nearlyl always go to Nigerian companies!), its extremely encouraging theyve been fast tracked to the second round.
Todays announcement just adds another string to the bow really, got a chance of being awarded a pretty major newlicence in Nigeria. This is separate of course from any near term deals they were talking about (7 in total) that theyre looking to close.
decent partner to be working for but i assumed they would be involved for the purpose of ADME backed by Trafigura money rather than the technical support for someone else
obviously less risk for ADME in this but also not great potential
Good news keeps on coming, refreshing being invested in a company thats clearly all gluns blazing at the moment.
Amazing