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.
Some very intelligent posts CawCaw.
Energy is what allows a nation to prosper economically. Which makes it productive, and allows it to take care of its' poor and downtrodden.
Energy-rich nations that choose to exploit their resource are the ones who can build roads, schools, hospitals, and food banks. They build factories and lift their citizens out of poverty.
Look at Venezuela before corruption and incompetence ruined them. It was a miracle. Same with the GCC states; they are a barely inhabitable sand spit yet their people (including their poor and infirm) are afforded a much higher quality of life than they would be without the energy that is under that sand.
One day the world will replace oil, but that day is not today. Right now, oil is the greatest enabler of quality of life for humanity that we have ever discovered.
@Muel by buying here, you are investing in that. Particularly in a desperate third world country: COPL has paid millions into Nigeria's economy ,and if we get our way they will pay billions more!
Do not feel guilty about that for a second. Wealth is not a zero-sum equation, and the work that COPL is doing will add massive amounts of wealth to the world.
Agreed my friends (I hope). I cannot but feel a little guilty for the endeavours I have partaken in since March on the old stocks.
Then I look around and think I’m a 30 year old with 3 kids under 6, still renting as it’s impossible to save for a mortgage.
I think in better times I would of liked to of done something cool like go build a school in rural Africa, alas now all I am is the capitalist monster I do loath.
Regardless of our endeavours here or elsewhere family should always come first.
Muel
@Muel seems to me it's a paradox.
If Nigeria was well-managed, ethical, transparent, and humane to their citizens, there wouldn't be a trillion dollars left to be made.
It would just be another Canada, where the resources have been efficiently exploited and used for the common good of the nation and its' citizens.
Like Canada, remaining upstream oilers in 2020 would be either fighting over the scraps, or doing unpopular things like SAGD and oil sands mining.
The reason that our plucky band of adventurers is able to pursue its' destiny here is that Nigeria is still figuring out how to allow outside companies (like ours!) to make them wealthy.
And who would care about any of this if there weren't billions of barrels of oil left to dig up?
How's that for a paradox.
CawCaw, I love your posts and the sentiment you show. Unfortunately it’s just the way of the world?
I’m sorry to say it but maybe you just have to let this one go. I wish we could all be better and improve the state of play but unfortunately we cannot.
Keep well all.
Muel
You are right if only they could However this close family focus is in their DNA. It will change eventually but only after by some bonanza there is an abundance of goodies for all.
@Panama I agree and do understand. Such is the nature of a broken country; one must look after ones' own survival and security with every waking moment.
What's crazy to me is that the oil wealth is enough to allow the entire ruling class of the country to live as Saudi Sheiks. If only they would get their sh**t even 10% organized and allow outside companies to come in and make them ALL rich beyond their wildest dreams.
typo there- shoreline will now own 15% max of this play whereas before they had 40% - so do we still qualify for indigenous status and better royalties?
Anybody left here should be people that believe the PSC extension will eventually be granted and Essar will eventually drill. And as none of us have crystal balls, we are not willing to try to time the market to get out and back in before news. So I have a question for those with some knowledge here - does the revised revenue sharing deal with Essar still qualify this for indigenous involvement and the better royalty rates? I saw a lot of stuff posted by a certain deramper suggesting that basically 95% of the net revenues of this play are taxes, but that makes no sense. But before, Shoreline had Shorecan owning 40% and now they top out at 15%. So do we still get better royalty treatment with Shoreline at 15% and not 40%?
And taking royalties into consideration, what is the net profit here if the gross profit were $15 a barrel to produce this if it proves successful and commercial? Of that $15 - how much goes to tax, and then I presume we get 5 or 15% of it. So what are the numbers? Does anybody with technical experience in this industry, hopefully with offshore Nigeria, know what this means for us ? Using a model of $15 gross profit on producing the oil. Just so I can get a sense of our potential value here going forward. And I apologize if my question frames things incorrectly. I just want to hear from the oil and gas experienced investors on what this could mean for us.
The problem Caw Caw is they have a very different mentality. We can think about National Consequences for our actions. Third World countries think in a Survivalist manner and Family is about as widely as they can focus.Family in Nigeria equals Country in Canada or UK.So brown envelopes will benefit his wife and kids i though Nigeria most certainly will not.
#11 in proven reserves, according to Wikipedia. 36 billion barrels proved.
Imagine if they created a regulatory environment in which a billion dollar company was willing to spend substantial sums exploring the place.
For example, the 1-3+ billion barrels that could lie in OPL226 alone are not counted in that sum because they are not yet proven.
Crazy that Nigeria would leave that much money on the table in favour of remaining backwater and corrupt.
I read somewhere that Nigeria is in the top 10 of the amount of oil they have, problem is extraction.
Considering their economy is shot, I think it’s great sentiment.
Shardster, although low at present, this will rise from here and re-rate.
Always better to get in, the SP may go up, down and you might even have a paper loss.
When PSC news lands you won’t be able to buy, it will go to NT and there will be many caught with their pants down.
@Shaa absolutely. I applaud Nigeria for acknowledging the problem and taking real steps toward resolving it. Sounds like they are realizing that a fair, reliable, and transparent system could pave the way towards unbelievable wealth there.
Whereas the brown envelope culture, which may allow the odd official to increase his cash wealth, leaves most of the oil in the ground and the corresponding coffers perennially empty.
I wonder if the Process and Industrial debacle taught them a hard lesson. Rather than cashing cheques from that project for the next 50 years, they will spend 10 fighting a losing battle against *paying* the $10B judgment.
Indeed Caw Caw. Bihari now needs to use what clout he has to get the PIB over the line.It could herald a Brave New. world for Nigeria. But they need to get on with it
With the greatest respect to Nigeria and other similar countries CawCaw (not trying to offend anyone), one of the biggest factors for companies not dealing with them is because corruption.
A lot more companies will want to invest once this brown envelope culture has been sorted.
@Shaa wow. Just wow.
Imagine for a second that this triggers a gold rush in Nigeria. Which would not surprise me for a second.
Royalties made reasonable, no more crown corporation with their hand in the kitty. The possibilities are very exciting.
How smart will we look, having gotten in many years beforehand and secured an important interest in a massive field.
Finally the end of the rot. We needed a good day and hopefully it bodes well for the week ahead
Great finish, personally I need quite a bit more of a rise to break even but quietly confident this will rise more this week
Hopefully will speed up things.
www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjd4v-nmozsAhVdQhUIHdeMCAcQxfQBMAN6BAgMEAM&url=https%3A%2F%2Fwww.oedigital.com%2Fnews%2F482011-nigeria-s-oil-reform-could-see-nnpc-privatized-deepwater-royalties-amended&usg=AOvVaw2sSYrNN5N42KQBbVKcdM6x