Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Cheers Jiving.
Room for us:
'Eligibility and Bid Evaluation
As one of the key objectives of the marginal fields licencing round is to promote indigenous participation in the Nigerian oil and gas sector and to foster technological transfer, the licensing round is exclusively intended for participation by indigenous companies i.e., companies duly registered to carry out petroleum exploration and production operations in Nigeria with 100% indigenous shareholding.
International Participation: a Not-so-small Margin
However, upon the award of the marginal field, the awardee may assign up to 49% of its interest to another party subject to approval by the Minister of Petroleum Resources. As a result, and while the bidding process remains an exclusively indigenous affair, foreign technical and financial partners are not outrightly precluded from participation in the development of marginal fields once contracts are awarded and fields need to be developed.'
https://www.cnbcafrica.com/africa-press-office/2020/06/10/what-it-takes-to-get-a-marginal-oil-and-gas-field-in-nigeria/
Should be a good rise today maybe in to 0.40s
NoEasy. Yes I think the pre-qualification stage is just that, to weed out the total no-hopers. In the Nigerian press Shoreline is listed among likely registrants & later bidders. Also its noteworthy that applicants must be 100% Nigerian as must all members of a JV or consortium. So it looks like only Shoreline and not Shorecan can be the registrant.
Shoreline likely sees a need for COPL's technical prowess in analysing data from target licenses & also later drawing up the technical & operational plans when the 'real' bidding starts. As the bidding terms make clear they anticipate farmouts to finance production, Arthur's industry contacts & presence could be useful here as well. So I could see why Shoreline would want to involve COPL in some if not all of the licenses they might be interested in. Whether Arthur wants to inform us IF we are involved is dependent on a number of issues: regulatory obligation (partic in Canada); Nigerian restrictions on the bidding process; not wanting to (over) excite investors at a preliminary stage.
I noticed the clock ended at 18.00 UK time but they rolled the announcement over from 16th to 17th of July. So some time today.
Sorry typo; "doesn't seem as though it is."
I don't see us getting an announcement re pre-qualification if indeed we have entered the race for a marginal field, unless Art is reading this board and takes the view that on the whole investors seem positive about such a move. Any publicity is good publicity as they say.
One thing I got wrong was my previous thought that pre-qualification was against named licences. It does seem as though it is. Pre-qualification is just to weed out applicants who have neither the technical nor financial ability to take a field forward. The next step that opens up for those pre-qualified is being supplied with more 'teaser details' on fields available (at a price) and from there entities can home in on particular fields (again at a price). Jiving is that how you see it?
If someone does stay up maybe they’d be kind enough to post a link... cheers in advance!
all google is not the official closing, it is the last traded price, which in today's case is the uncrossing from the auction.
if you want the official closing price (the mid price), then look on this website or another bb website ;-)
Guess it depends if we're pre qualified for the bidding round.
We'll know at midnight.
Of course we need to have applied in the first place - suspect it likely we will have, others much less suitable have - and if we are pre qualified then I expect we'll open at around 0.4p.
Watch for that RNS, or stay up til midnight!
37p close showing on Google but 33p on Hargreaves?
great finish on the uncrossing, sometimes doesn't mean an awful lot as it could still open at the original spread tomorrow, but fingers crossed it doesn't!
I wonder if the 6-10 thousand is even a factor anymore ?
Last 2 days, last trade after hours was 0.36p, it opened at 0.36p.
Today 0.37p - happy days.
Close at 0.37 - that'll do me!
Always argumentative about best time to issue but if good tomorrow and then article in Sunday papers