Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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RT003 showing his usual obtuseness by bizarrely criticising a short and entirely factual accurate answer to a question that was asked. Newsflash... facts cannot be ramps or deramps. They're just and only facts.
But hey, on the off chance that basic maths operates differently in the Philippines, why don't you give your version of an answer to the poster's question?
What would 1.5 million therms of gas be worth to ANGS/SEL in June? And in July?
For christ sake I come on to view last nights posts (I'm in GMT +8) and what do I funs but Ruth still at it close to midnight deramping at warp speed
Pathetic utterly uber pathetic.....
What possesses these people you ask....money fellow boardies that[s what paid via an action group that Ruth organises 24/7 the sad little spinster she is
£2.22 million of gross revenue to be split between ANGS and SEL if produced in June.
£1.1 million of gross revenue to be split between ANGS and SEL if produced in July (because 75% of that volume has been hedged at 41.4p per therm).
at today's gas price what does 1.5 mill therms mean in revenue
I have no reason to doubt them at the moment. All these discussion would have been talked about prior to construction work and now they are funding the project to go ahead means they must firmly beleive its all acheiveable.
Like any project, they will have setbacks but overall goal will be to hit these figures.
I will hold until this hits target. I only have time to waste. )))
Accordign to the official OGA figures, the average monthly output over the last 12 months of unimpeded production from Saltfleetby from mid 2016 to mid 2017 was actually 1.22 million therms. NB this was before any problems at Theddlethorpe kicked in from the 2nd half of 2017.
Sentinel, as others have said, you're just plain wrong. ANGS hopes for a consistent 1.5 million monthly therms from the two existing producing wells, then a further 1.5 million therms a month from a successful sidetrack. It remains to be seen whether it can achieve either or both of those things.
Part of answer to an Investor Question asked on 27/10/21:
A.The lenders technical advisers and Angus evaluated the deliverability of the existing two wells as being likely to be greater than 5 mmscfd. The reasoning was twofold. In the last years of delivery to the old Conoco refinery, average production was constrained by persistent issues with the main compressor at Theddlethorpe. Secondly it was the view of technical experts that, following a prolonged shut-in, the two wells should have improved deliverability in the first 18 months or so of operations. This is because prior to shut in there was an area of reduced pressure around the producing wells. Since then the pressure has equilibrated across the field resulting in significantly higher pressure around the producers. So it is our view that the hedged production should be able to be covered by these two wells in the event of failure of the sidetrack
All i know is what they write.
1.5m therms rising to 3m therms by mid august.
I wont know if thats the truth or not until mid aug.
Sentinel85uk,
The increase above the approx 1.5m figure will be from the new sidetrack if successful..
i cannot figure out how they can say the hedge is covered from exisitng wells and then use production expectation of 1.5m when hedge rises to 1.75m in october..
To me it is contradictory..
Not correct sentinel85. The increase will be a big step from a successful sidetrack.
Angus state the well produced 1.5m therms in 2017 before shutdown.
They will be looking at 1.5m minimum to kick start production but it states by mid august they want to be producing 3m therms.
They wont be ramping from 1.5m to 3m, it will be a steady increase so june 1.5m, maybe over 2m in july and 3m by mid august.
Thats what the company are set out to do by set organisational targets.
Planning is always year or 2 in advance so with expertise on hand they would of looked at all pros and cons to acheive these figures.
They clearly feel the targets can be hit with evidence of site installations and upgrades.
Wait till june figures, july figures and evaluate mid augusts figures.
Tygra,
You state that production is 1.5m therms per month ( as per RNS).. do agree then the hedge is not covered without the side track?
I ask because, to me, the 1.5m production and hedge covered freom the existing wells are contradictory. if hedge is covered, the production should be 1.75m minimum, if 1.5m, that is consistently used ,then hedge is not covered.
I do not know why no one here seems concerned by this as there is a significant increase in risk if hedge not covered by existing wells or am i missing something? if so i would appreciate if some one could tell me..
Cheers Tygra & you too, and in that case, in the style of 'Wayne's world'....Excelleeeent.
The cash register might need some coolers fitted as it might soon be going into warp drive!
Erm no Tyra……any gas production if they actually manage to get to first gas will be 51% to Angus 49% Saltfleetby Energy Ltd.
Today close was 140.5 a therm according to Ice down 16.736%
hamsters
July definitely mate. All cash generated in June is for ANGS.
Have a goodun
@Tygra, I thought the hedge started in June along with GL's production target, which is near, hence why many were hoping for a day or so of production in May. if you are correct and it actually starts in July, which I hope you are, happy days, more leeway for some 'free vend' so to speak!
Have a good weekend all believers, LTHs, the finger is getting closer to hitting the start button. :-)
*1.5 million therms per month, not day, that would be nice like :)
master82
Initially 1.5 million therms per month from the existing wells. Then there's a planned sidetrack that is expected to produce a further 1.5 million therms per day. If 3 million tpm is achieved, the estimated revenue will be $7.2 million per month to ANGS.
The hedge starts in July so any production from June will be sold in the open market at the daily price. June production could be worth circa £3.6 million to ANGS pre-costs, and considering our entire market capitalisation is floating between £17-19 million, that 'should' initiate a significant value increase to our share price based on the free cash flow achieved.
Have a watch of this, it's the latest interview with the head honcho: He explains the plan and talks turkey around the figures etc.
https://www.youtube.com/watch?v=dX_j3cEBj4c
All the best
What sort of flow rate is expected here..