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.
"This additional data should provide a more complete picture."
A single new line IIRC
However they still have to convince a farminee - and no-one has ever shown interest in Lidsey before. In fact farm-ins onshore UK are getting to be very very rare
Subject to some further work on the processing particularly processing to depth, Angus are now in a position to reinterpret the seismic, using the new data, with the aim of remapping the structure. The preliminary work suggests that the historical mapping should be discarded and the structure mapped afresh using the new data and with further work to tie in two historical wells nearby at Middleton and Pagham (outside of the Lidsey Field) to provide depth and structural control. This additional data should provide a more complete picture.
Ocelot
“ One of the most bullish points about yesterday afternoon's RNS was its very title:
Re-evaluation of Lidsey Field (PL 241)”
That’s an interesting interpretation! Wasn’t the point carrying out the new siesmic to prove the “exiting”…”Lidsey back in the frame” GL talked of?
The RNS tells us that didn’t happen! In fact it looks as if the original Angus drill was a mistake.
Hardly bullish……more like time to start looking into de-comm!
One of the most bullish points about yesterday afternoon's RNS was its very title:
Re-evaluation of Lidsey Field (PL 241)
Referring to them as 'legacy assets' is dangerous as it has to alert the powers that be to potential abandonment costs.
You're right, Ocelot. Currently (and for how many months havbe they been zero revenue? 17 and counting, isn't it?) ANGS has been a pony with no tricks at all. If only they had even one revenue-generating trick...
Get Saltfleetby producing. Nothing else matters. Once that's sorted, then look at other avenues.
Think they are quite right to seek to make the most of their legacy assets such as Lidsey and to position themselves for future sources of energy such as geothermal.
Fully approve of their approach, they're not a one trick pony.
I am still expecting a delay with SFB until 'some time in Q1' to be announced before the year is out.
It really is poor that they are faffing about with Lidsey, Geothermal, etc, when ALL effort should be going into SFB.
They have delayed and delayed with their first gas target, it must be at least 6(?) times the target date has changed already, and it simply is not good enough for them not to be pushing all parties involved to just get on with it, rather than releasing an RNS to say 'oh well, looks like it will be a little later than expected, but hey, our lenders are ok with this. Never mind, here's a geothermal presentation to deflect attention'.
My last post for the week.
Good weekend all
"The preliminary work suggests that the historical mapping should be discarded and the structure mapped afresh using the new data and with further work to tie in two historical wells nearby ..."
You'd have though they would have used the other wells previously?
Anyway more delay and then they have to find a sucker to farm-in.........
When was the last onshore UK farm-in... was it ANGS at Balcombe several years back??
Crocqman, I too believe that SFB is the number 1 priority.
It does not harm to push Lidsey in parallel particularly as it is a case of minimal investment. If another company looks at the data and agrees to farm in that will be brilliant. No?
SFB is still make or break for Angus - they cannot afford to fail on this one.
As far as meeting the Feb 1st gas is concerned, in view of the EA issue I am not now so confident. We may not get approval in time. I put in an IQ but only half of it appeared on the website.
I still would like to know how long before the seismic is concluded and the data room opens. I think pushing Lidsey is in our interest.
Yanis, my view remains that the company simply must get Lincolnshire up and running ASAFP - even more true, given current/future gas pricing - and that literally anything that's liable to detract attention away from that is not beneficial.
I would think it must be accepted by one and all that, given pre-Lincs incurred liabillities and especially the commitments incurred around SFBY (£12m and hedge), this has to be absolute and in my book, effectively exclusive priority, at least until up, running and producing whatever it turns out it will produce.
Once that's bedded in and ANGS has a known income stream, then maybe other ventures.
Personally, Yanis, I am not remotely interested in Lidsey.
If it (and the geo-thermal presentation) gives the SP a bump, then all well and good, but as it has been for the past 2 years, it is still all about SFB for me.
The first sign of any shift North on the prospect of actual delivery here, and I will be looking to exit once and for all.
I think this is worth an IQ. I will put one in over the weekend.
Ocelot, that is fair enough but how long will it take to complete? When can we expect completion of the seismic and the data room open for farm in?
The preliminary work suggests that the historical mapping should be discarded and the structure mapped afresh using the new data and with further work to tie in two historical wells nearby ...
LOl Lidsey “A bright new future” Not much detail is there. If anything had been in the slightest bit positive they would have been all over it wouldn’t they. Another one to push under the carpet by the looks of it.
Can’t see anyone queuing up for a farm in from that damp squib of an RNS.
HITS, I agree SFB is number 1 priority, but Lidsey in the background can add some value too if seismic reprocessing is completed and Angus farms in another company, kind of minimal investment and maximum return on this one.
I know there are doubts but if another company farms in that would be a very good sign that indeed there is a very good chance there is something there. No?
Any idea why the seismic has not been completed yet? How long it will take to conclude?
It's all about Saltfleetby - or should be, from a company focus and efforts point of view.
Surprised that this board is quiet after this RNS. Nobody from the experts analysing it?
I don’t know much about seismic but I would have thought it would be concluded by now. Anybody has any idea why is taking so long? Any idea of how long now to obtain the additional data and conclude the seismic analysis?