Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Willec - my opinion is that it will be highly likely that there will be another update before the end of the year. As far as 10p goes, at this moment it is just a number and nothing to base this on. If we get a positive detailed update the SP will take care of itself. A lot of investors have waited a long time for this and some may feel the same as I do and that this is just the beginning of something special. Only time will tell but let’s just take one positive step at a time. Good luck to all those who are invested!
Are we thinking a future update before the end of the year? 10p by end of 2019 would be nice
Developement funds.
Medium term funding.
Hi Harel
Thanks for correcting me but at Bonasse we have an asset which they have stated at $60 oil price Cerp have revenues of $50 per barrel less costs
15m recoverable barrels is a huge sum.
I believe Oil in the ground is a different story $3-4 would be a fair estimate on 77-100m
That's my take on it anyway
ATB:))
Big Wod,
What fund raise are you on about? This one?
Medium Term Funding Agreement
Mon, 11th Nov 2019 07:55
RNS Number : 9333S
Columbus Energy Resources PLC
11 November 2019
11 November 2019
COLUMBUS ENERGY RESOURCES PLC
("Columbus" or the "Company")
Medium-Term Funding Agreement of up to US$4.5 million
Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to announce that it has agreed to terms for a new Convertible Loan Agreement (the "Agreement") with Lind Global Macro Fund LP an entity managed by The Lind Partners (together "Lind" or the "Funder") to provide access to additional funds, should they be required, to:
· assist with any un-planned additional costs arising from the drilling of the Saffron well in Trinidad;
· enable Columbus to fast-track the appraisal and development of the Saffron prospect following any discovery;
So yep, the fund raise has already taken place AND we can drawdown the rest in tranches.
So can you please elaborate on your posting here!
There will also have to be more fund raising to get any significant quantities of oil up to refineries,so when we have the manipulation of a spike expect to see funds raised of the back of it.
I really don't want to wake you up from dreaming but i'll correct you..
Best case scenario 15m reoverables will be valued 3-4$ for bboe.
That is just facts, bboe in the ground is valued 0-8$ per bboe depends on many parameters, in this case 3$ is good result.
Hi willec
I don't believe we will get to 20p by this time next year, 13-14p is my guess.
But the prize here is the recoverable barrels 11.5m in the Lower Cruse and possibly more above say 15m in total guesstimate. That's a large money pit $50x15,000,000 =$750,000,000 less costs.
What major would turn that down not many, let's hope those figures materialise
ATB:))
Looking for at least 20p before the end of 2020. Hope that is possible!!!!
Thankyou Bamps21, just feels like derampers aboard and odd to be around the 3p mark when it was 4p a fews weeks back bearing in mind RNS this morning. I hope for oil news before the New Year, I do not know if that is possible but feel 6 - 10p depening on how good news is and then increasing as we drill the other two wells.
Hi willec
Cerp haven't proved anything up yet.
They know there's a lot of oil above the Lower Cruse that's why the well bore has doubled, but there's no flow rates yet or reservoir size, that's what's going to springboard the sp
Don't listen to LLL he got it wrong again like when he said the drill got stuck, when in fact it was the logging tool
All looking good they've found oil, big relief :))
Why are we only 10.5% if such a great find?
Thanks jcg what a great find . How I would love to be on that tour, we could do with a share holder tour :)) even by video
A few photos from Saffron, as the AAPG Young Professionals T&T went to visit it yesterday
https://www.facebook.com/AAPGYPTT/
"We braved the inclement weather and still had an amazing time with the team from Columbus Energy at their Saffron-1 Exploration well in Bonasse, South West Peninsula.
We first visited the Bonasse field where we saw a Columbus Energy Services LTD. Rig 1 (CESL #1) workover rig conducting a job on one of the older Trinidad Exploration & Development (TED) wells near the shoreline. Almost totally drenched in the rain we observed the deformed Cruse beds at Galfa Point due to diapirism and tear faulting. We also observed the toe thrust uplifted area along the beach that was noted by the AAPG YP TT about a year ago, as a possible slip mass due to motion along a pre-existing tear fault during the August 21st earthquake, very similar in nature as to what we observed at Los Iros. Within this rotated and toe thrusted mass, there were oil impregnated beds of sandstone, tonnes of pyrite, limestones, and 'salt & pepper' sandstones.
With our pockets full of rocks, we journeyed across to Columbus Energy exploration wellsite Saffron-1. There we met with Petroleum Engineer and Chief Technical Officer Stewart Ahmed and Geologist James Forbes. We were truly lucky to be given a full summary of exploration in SWP, the challenges and outcomes and to have a chance to fully appreciate the Saffron structure. Chasing after thick, well developed turbidite slope channels of the Late Miocene Lower Cruse Formation, Saffron will be drilled to approximately 4000ft.
The Talon -38 rig outfitted with two mud pumps, a top drive and a casing and drill pipe hydraulic hoisting system has been churning away at the surface oil impregnated Forest sands/silts and Cruse sands for the past month.
The AAPG wishes to sincerely thank Columbus Energy for the tour of the wellsite and detailed discussion on the Saffron well as well as Xavier Moonan for the discussions at Galfa point. We wish Columbus Energy all the best with their endeavours and look forward to more such wellsite visits."