Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Good afternoon Tuggy.
You wrote; "the Chatham and Tyce fields flow into PL001 territory and the Johnson field is one third in that same licence so in effect there is considerable value "
Johnson is, imo, a useless GAS discovery with, imo, absloutely no hope of being monetized; Shell found it and abandoned it in 1998. Am a bit confused by your references to Chatham and Tyce fields.
Argos has a prospect called TYCHE which is given a 18% risk factor on p77 of the ARG CPR here;
hTTp://www.argosresources.com/docs/ARG-CPR-JULY-2013.pdf
Note; Rhea is given a 38% risk factor
Chatham is another prospect refereed to by EDISON in July 2015 as a secondary target in a planned drill on the RKH licence that did not take place due to rig issues;
hTTps://www.edisoninvestmentresearch.com/?ACT=18&ID=14662
p10
"Chatham – gas-cap appraisal and deeper exploration
The Chatham well (14/10-10) is primarily an appraisal of the western flank of Sea Lion to determine the presence or absence of a gas cap in the SL20 sands. This is of importance as if no gas is present in the well, around a further 65mmbbl can be added to the Sea Lion resources (if the well does encounter a gas cap, the location (though not the well) could instead be used for gas reinjection during production if required). The well will then continue on to the deeper Chatham exploration prospect (GCoS 17%),..."
Two important points to note; firstly The vast bulk of the Chatham prospect is in RKH license and secondly it was given a low Gcos.
One can not ascribe "considerable value" to either Chatham or Tyche because nothing commercial has been found yet and Johnson is a gas discovery with very little chance of monetization, imo.
p11 of the last Argos annual report spells it out clearly
www.argosresources.com/perch/resources/arg-2019-annual-report.pdf
General exploration risk
Whilst results in the surrounding area are encouraging with respect to the oil and gas potential of the area and interpretation of the seismic data has indicated extensive prospectivity within the Argos Licence area, no commercial volumes of oil or gas have yet been discovered and there is no certainty that such discoveries will ever be made."
Not an xpert, but 3km might as well be 30km in terms of production? Unless???
Cyan, I totally agree with you how the companies are separate, and also agree with Nigoil with regard the Chatham and Tyce fields flow into PL001 territory and the Johnson field is one third in that same licence so in effect there is considerable value even before the drilling of Rhea which is only 3 kms from Sea Lion.