Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hi Yanis, the posters on Angus would like to know where the gas goes when establishing a steady flowrate please.
"If he ever produces any gas it'll all belong to the finaciers."
Everyone on the planet produces gas, Mira.
Stand too close to a naked flame whilst blowing off and you too will find out all about it.
Yup
If he ever produces any gas it'll all belong to the finaciers
And still no sign of a sidetrack
ab76.
My apologies. I'd forgotten all about Angus getting paid £2.5 million on top of George's quid to buy the 51% of Saltfleetby from Wingate.
I think I must be brain washed by HITS and WG818. With all their deramp bull**** over the years .
George Lucan is about to pul off the gas deal of the century imo. ATB.
Small correction Lemonleaf: Angus was paid £2.5 million to acquire 51% of Saltfleetby - see https://www.lse.co.uk/rns/ANGS/acquisition-of-interest-in-saltfleetby-gas-field-0who5mtzc2ef525.html
The plan then was either to decommission the site or bring it back into production using that £2.5 million (with regard to bringing it back into production, the hope was that following Brexit Angus would be able to use a load of second hand and leased equipment; but the regulators refused to allow that).
Even though the process has taken longer and cost more than initially envisaged, Angus (assuming of course that gas is produced in sufficient quantity) acquired an excellent deal and then did so again when it acquired the other 49% a few months ago.
Fek me Ocelot.
How to kill good vibes !
... The cost-of-living crisis is only set to get worse between now and next summer, as consultancy Auxilione predicted that the price cap on bills will gradually rise by more than £4,000 in the next eight months.
They said that the cap is expected to reach £3,576 in October, rising to £4,799 in January, and finally hitting £6,089 in April.
The new forecast is an increase of £96 in January and £233 in April compared to the last one.
The cap is currently at £1,971 for the average household ...
The forecasts, based on Friday's gas price, are another major blow for families around Britain and will put extra pressure on the Government to act.
Around 45 million people are forecast to be thrown into energy poverty this winter ...
https://www.bloomberg.com/news/articles/2022-08-20/price-cap-seen-to-breach-6-000-for-first-time-in-grim-new-forecast?srnd=premium-europe&sref=Em01M8Hr
It's been a long wait. But...
https://youtu.be/KQetemT1sWc
The higher the gas price the better
“ A raised gas price is in fact REALLY bad for ANGS”
Wow,, just… really??
Much more than a year, stockbob, it was around about Spring of last year that I finally filtered HITS.
It's a shame more investors don't sell the positives on here instead of sitting on their hands . If wasn't for me and a few others HITS and his her band of brothers will make you skint with their bull****!
Here endeth the lesson.
One last thing lol.
HITS again doesn't mention all the unhedge gas from the sidetrack. Ohh why is that lmfao.
That rig is sitting there saying come George! Get those huge stable flow rates going . Get me on site. I want to drill . I want to get lots more gas :)
Imo Lucan has been a breath of fresh air for this company. He bought 51% of Saltfleetby for £1. Yes a pound!
He got a loan of £12 million instead a massive placing to buy and build the plant! HITS and his joined at the HIP brother WG818 said the loan couldn't be done. HITS and his other I.Ds carry on saying I can't be done . George is lying. Bla bla bla.
Well next week you are going to eat your words coz this will fly imo.
Absolute ****** from HITS , a individual who has a massive grudge against the company.
Recent RNS says the exact opposite.
As a precautionary measure, the Company has worked with its hedge provider to roll a portion of the Q3 2022 hedge into Q1 and Q2 of 2023. This has allowed the Company to take advantage of the very high forward gas prices and contango to lock a higher average forward sale price at no up-front cost to the Company.
Typo... Merccuria gets 537p per therm. But the point remains.
Mecuria will be owed well over £9 million by ANGS in April 23 alone, courtesy of the hedge. And ANGS will generate negative revenue in April 23 unless it has a successful sidetrack.
And the contractually agreed price per therm that ANGS will receive next April for all production from the rwo existing wells? 37.5p.
Mercuria on the other hand will get 573p per therm on all that production.
A raised gas price is in fact REALLY bad for ANGS unless it manages to produce more gas than it has hedged. And to do that, it MUST drill a successful sidetrack. If it doesn't, IMV it's game over.
Latest forecast for average annual household energy bill from next April: £6,000.
an76 that is great post and bang on the money. Thank you!
Three years ago or so Tesla was on the verge of bankruptcy and Elon Musk was sleeping in the factory trying to sort out the production issues as targets were repeatedly missed.
Bringing the Saltfleetby back into production was always going to be difficult and whilst it’s a shame it hasn’t happened quicker, it’s not surprising that there have been delays. Unusual and complicated projects are susceptible to delay.
If there’d been no risk of delay, further cost or even failure, the share price would long have been much higher than it is.
When gas starts to flow, assuming it does at the predicted rates, those who bought when the share price reflected the uncertainty that the project will succeed will likely be rewarded.
360 go cry somewhere else.
Yanis2005
Price: 1.275
No Opinion
Almost there!Today 15:04
Relax people, as per today’s tweets we are now in a much better situation than we we’re this morning.
Hedge quantities are being transferred to later quarters. As I predicted last Friday from last weeks tweet we needed a week maybe more. Well, is not much more.
There is no issue with the gas flow not being “adequate”, the issue is with getting steady flow.
Today’s tweet was a lot more positive than I expected as it indicates that all the preliminaries (I/O testing, function testing, etc. of individual equipment) have been completed.
From what was announced so far, in all likelihood the issue (at least the main issue) is with setting up controller and balancing flows. It should not take them long now to iron out these issues and stabilise the flow.
I think this week coming is the week of gas sales. Fingers crossed and good luck.
Have a nice weekend all.
Spf if you’ve decided to pass please can you stop your relentless long posts on this board. Thanks.
stockpickfree, now you can understand why many of us on here are so critical of the management, and also so frustrated with those people who refuse to accept that there are any problems here, and who cheer at every drip of news as if it is a major step towards gas sales.
Add to that the terrible communication (lack of detail and consistency) and you can see why the SP is so low.
But, the price of gas should be enough to still make this project a success.
Watching that makes me think I’ll pass.
He’s dreadful! He inspires no confidence at all. Saying stuff like he expects gas to be produced and sold by 1st June, and if they are out it will be by a matter of hours…
Either he’s incompetent or deceitful.
It does make me think what a difference it would have made to the company if they had got it up and running by May/June. Two months or so of gas at these prices, no need to hedge the amount they have. A qualitative and quantitative difference to where we are now. And think about the stock price…
I’m not saying it was technically easy, but to be months behind schedule, not the “hours” he promised is pretty unforgivable. He looks to be out of his depth.
And you also wonder what technical problems remain. I mean what have they been doing at the field since April??
Donk……I know that anything GL tells us is difficult to believe, but it was him who gave the interview.
https://www.youtube.com/watch?v=dX_j3cEBj4c
PS the pressure seems to have dropped from 85psi to 80psi after listening again!!