Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Awax - I like that ... Friday cracker.
I'd stake my entire holding on a bet saying them lads are Peking over the border at these assets!
True, CC I also feel after our exchanges that the conversation has been pointless. Don't know why I do it really!
Uncertain - then all of the points that i make are equally valid ... as usual a pointless discussion but there you are.
Company now valued at £39m for all these Kazak assets......that's loose change down the back of a Chinese sofa!
CC They are not drilling so they have no costs there. They have got some workover costs and continuing acid treatment costs. They will have to pay for Drilly but that is also now less than expected. They have variously said that they are profitable above $30 to $35 for Brent and we have been well above that for the period since the end of June. The only way in which they will not be profitable in H2 is a second oil price crash. I am pretty confident that this will not happen, but of course as you say nothing is 100%
Uncertain - if anything I have said is subject to a binary yes/no switch then how can your future prediction of profitability in H2 only have a yes switch ? as usual m8 you haven't understood the parameters .....
CC You claim to know what is going on with Drilly McBoatface on the basis of monthly costs dropping from $100k to $60K. You may be right, you may be wrong. Clearly you are right in saying that the disparity needs explaining but it is in fact just a guess.
You claim to know that the acid hasn't worked. There is so little information about the acid in the RNS that no reasonable conclusions can be drawn yet.
You imply that the oil price is falling when it is doing the opposite at present. Clearly the oil price is unstable at present, but it is as likely to rise as to fall.
This RNS simply tells us what most of us already thought likely - the COVID crisis has hit operations at CASP because of local lockdowns, and the cashflow crisis brought about by the drop in oil price has stopped drilling. Current operations are however profitable and the situation will improve in the second half of the year
It's like rats deserting the sinking ship! what a crock of ****e this share is turning into!
Uncertain - in a previous RNS they advised they had enough spare cash ( apart from drilling and working over MJF ) to order one lot of acid to try and get the deeps to flow, at that time they were going to concentrate on the smaller A wells, point was made that A5 has had four drills and lots of mud so will take up a lot of acid so would be A6 and A8 then 801, again they've changed the plan and not focused enough on the low hanging fruit.
They have used that acid and it has not worked - that the work will be ongoing I do not doubt - show me the time frame when the next batch of acid will be ordered ... they have no spare cash flow and are not paying themselves ....
Expecting some news on the deep testing next week. Watch this space bottom fishing for now but I see buyers returning for next bit of news
Diver - previous RNS stated a couple of different times that the monthly costs for the KCE are $100k per month to be docked on tick over, now it has been confirmed (under the section of cost cutting and BOD's deferred salaries )that it is $60k a month that is a reduction of $40k per month - for that large amount of money that is staff and preventative maintenance, i.e it has been mothballed, the numbers never lie just the people .....
Oil price $43.72 this morning and rising
CC, re-read the RNS cant find anywhere it says they have mothballed Mc Drill face and laid the staff off, the RNS does say that other companies are spending money on due diligence with the view to hiring it however the subsequent hiring can not be relied upon
Acid treatment still ongoing
paycut ...
Adrianz - re: deferral, it's their only decision.
KCE costs reduced from 100k to 60k so they have mothballed and laid staff off - don't think that looks good for a short or medium term hire.
Acid on deeps - not working so that bolt has been shot.
All resting on the MJF structure with the additional 300 barrels from the old soviet wells whenever they can get international licence approved ... Noted again none of the BOD have taken a payout just deferred part of their salaries and are being paid in shares to further dilute the business....
Opec infighting still going on, oil $40, UAE not kept to it quota etc ...
I posted my view on ops a few days ago and it's pretty much spot on.
Good decision to defer deep drilling until a partner can be found. Pump MJF and pay down liabilities and keep KCE in a good state.
Depending on how fast BP and KMG progress I think KCE is in with a good chance of being used.