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Interesting point on taking on doing the exploration to early, but AM said we had to drill FD or lose the permit, SWP must have convinced him to go for this drill even though costly as they have been evaluating this well location since 2019 probably and were itching to get it done, couldn't with Atomic past financial constraints - and here we are - with a discovery.
Whats key is the interview comments on it, as past production wells a mile south and 4.5miles north of this well - infill drill in the middle and they have a lake of oil.
The proven and probable P2 reserves determine the level of lending released, confirm more P2 and gain more cash leverage for exploration, pay it back by production over time.
But its a delicate balance I agree.
I think overall AM is doing a great job on operations as he is just letting SWP get on with it, if it all comes off then we will look back and say what great insight they had.
That is a very silly post Iron.I thought at least you had a modicum of training in Logic.
Now if Tiburn was the ONLY poster on this BB you might at least be able to attribute his posts to contributing to the SP not making progress.
But he is one of many many posters each. making his own individual point as the dynamic evolves.
Yet you heap ALL blame on the posts of one contributor.
Always Arty's plan back in 2013, bringing copl to London's Main Market , to build a mid tier
Billion Market Cap company , with aggressive, high impact growth at the heart of it.
That was expected to be on the back of high volume discoveries , offshore Africa, which might
still happen but now he has layers to play with , I can't see the leopard , changing his agenda
for aggressive growth, just needs to up his game, on the PR & Info side for the market, to
give it anticipation and sentiment , vice the vague and mixed messages all lumped together.
Thankyou Tiburn. Well, the extra 35 percent production must help.
Part of me does think they should have waited until they were more secure financially before the exploration (and angling for Cuda's share). I think they have bitten off a lot, let's see if they can chew it all.
Bids moving back up in Canada to join us on 21p , closed 0.31 (18p) Friday
0.35 Up------------------------( 21p)
0.04 (12.90%)
Ask's now all 0.44 to 0.50 ( 26p - 29p )
LB - not at all - im not having a go at you, just being objective.
I think you can and do post some great insight, just not on this aspect.
The well cost $2.6m so it would be great to place it into production if financially viable - but its not the end of the world if not as Wookie outlined.
Its done its main job - DISCOVERY confirmed from this pathfinder drill, production would just be a bonus as HFB posted.
Aspects of Dakota yet to be told, they confirm a discovery for Frontier, but Dakota has similar Oil in place estimates by the Wyoming BLM.
We do know SWP are sourcing seismic so maybe a double discovery announcement to come.
LB28 Premium Member
Posts: 13,812
Price: 21.75
No Opinion
RE: SPToday 14:31
21.625 to buy. If that doesn't attract some interest we may as well pack up and go home
Hopefully!
We are already way below value on rising oil production. Fed deep doesn't matter as regards the sp surely....unless all goes well then we re-rate in a big way. NO worries.
Tiburn, what I was worried about was the cost of this well if unsuccessful. Is this protracted cementing a very costly process?
LB
Your tenacious, I will give you that.
Again - you dont know enough about the cementing aspect to form an opinion based on others opinions- and conflate a few trades with this technical issue - assuming those trading know the exact nuances of the cementing issue aswell
Best is to just wait and draw no conclusions on such shaky ground, least of all try and influence others who havnt marked your card yet
You provide some good insight on trading - know your limitations
I was rather pleased with myself selling out at 29p and buying back in at 22.4p.
Thought we'd see a bounce or at least hold.
Canada closed 0.31 Friday, on open TD have slapped 100k shares on each of new bids
0.34 and 0.35 ?
Something to look forward to.
Investing.com – US banking giant JPMorgan has said they expect oil to overshoot to $125/barrel next year and $150/barrel in 2023,
Oil price has had zero effect on copl so far this year , today and everyday , will remain the same
until , more flows and financial results and fingers crossed a p/e assignment give us a big boost
and some recognition of all the progress made. GLA
Bowlers do you have a friend called Sam12345
Just asking:))
People are f##king fed up with the fing games
Canada early doors, the same mixed messages as all session recently,
bids 0.30-0.325 , volume 18,500
Ask's
looking promising if it moves , only 1000 on 0.33 then its a gap up to 0.44-0.47 , volume 22,500
Canada dropped over 16% on Friday on only 10,220 volume and only 12 trades
NO VOLUME
As the lack of volume shows , along with the other real lse displays, no big buying or
selling going on, dead in the water until news , yet again.
22.00 0.46% (0.10)
COPLCOM SHS NPV (DI)
Track 1 instrument
Open / Last close
- / 21.90
High / Low
22.00 / 21.50
Bid / Offer
21.50 / 22.50
Special Condition: -
Trading Status: Regular Trading
Volume
338,164
Turnover (on book)
£1,364.00
Just been on TV , the Doctor in South Africa , who identified the new strain, said it's so far a storm
in a tea cup , the new variant , may have previously been missed, as so many , this one could have
been around for a while, the omicron variant, does indeed spread much quicker and easier but
so far , it has not caused any mass severe symptoms, as seen with some other fast spreading variants
Now it's identified, they still have to go through the same window of protocols, until sufficient data is
available to be sure.
As a previous poster put it , this one appears to be , a more virulent but less symptomatic variant
sounds promising , going forwards. GLA
:))
Well, I wouldn't go as far as your second point.
Interestingly South Africa had a wave begin at the exact same time last year, so seasonality could be a factor here. But we will see.
I think they have to because they were slow off the mark with Delta. And Beta. And Alpha.
I said the balance of probability is that it won't be a disaster, so why would I buy covid stocks?
Shorting them might work, but I only say the balance of probability.
What I'm more certain about is that whatever this variant does, the world will be very reluctant to replay a shutdown of the economy with correspondingly low oil prices.
If you think that lokan hedge it.
Short the induces and buy covid stocks
Volumes
Jan 51m
Feb 47m
Mar 86m (Half month 1st - 16th Suspension)
/
Aug 91m (Half month 17-31st )
Sep 84m
/
Oct 33m
Nov 51m (includes 32.34m 6 session blitz 15th -22nd Nov, the 18th 12.42m alone)