Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Much more positive RNS than the one on 4-6-20.
The specific date is telling - no longer need for a discussion on the meaning of "days".
Also this - "With the commercial terms settled in the agreement in principal, the legal language over a number of agreements has taken time to conclude"
The deal is done - terms are settled - now just a matter of making sure that neither party has any wriggle room.
Final date is also a Monday - and no mention of the licence extension - this was the 4-6-20 RNS
"· The settlement is conditional on the parties finalizing definitive documentation and completing the transactions, (including securing extension of the PSC) within 35 days"
So, if all that is required now is just settling "the legal language" can we take it therefore that the licence extension is already in the bag.
Looks that way to me.
Have to say I was leaning towards selling a few today as I was beginning to get a bit 'twitchy.'
Thank goodness for a timely RNS. Nerves now settled, confidence increased. After all this time, We could very well be on the cusp of a major re-rate.
Good luck
Thanks Jiving. Be good if the announcement is a public announcement rather than just one to the interested parties concerned.
From the below the application fee for each field is £4k it seems. If an applicant passes the pre-qualification first stage then a £6k bid processing fee becomes payable plus the £115k you previously mentioned for all the data etc.
https://nairametrics.com/2020/06/03/oil-gas-dpr-announces-2020-marginal-field-licensing-round/
Bit more idle reading:
https://www.mondaq.com/nigeria/oil-gas-electricity/952366/analysing-the-2020-marginal-fields-bid-round
If Shorecan have decided to throw their hand in my money would be on it being with at least one other party to cover signature costs. The government have put it down as a 6 month process but you can see the leeway built in already with regards what happens if a signature payment isn't made on time. They 'may' do this or they 'may' do that. I reckon we could extend the timeline until we're producing.
short term targets, a close over 0.35 today would indicate to me a breakout of the descending wedge we have been in since the 2nd high of 0.48
GLA
Perfect is the word.
It's a GO
Perfect.
All going ahead that is all I need to know. Legal documents take time. We are almost there.
Well it’s Friday and I have my money so I will be buying a lot more today
On July 20th we are going to go 1p, Marty.
That's great, Doc.
NE its on DPR site, this may indicate registrants will be announced (possibly as Shoreline, as a preliminary is a indigenous only process):
"Announcement of prequalified applicants and issuance of field teasers 12 July"
Not sure if the link will show, ignore login blah blah & click 'View' next to 'Marginal Field Bid Round Schedule':
https://marginal.dpr.gov.ng/Account/Login
Flights booked panamabob lol. Funny in majorca today would have been nice next to the pool today watching it go wild oh well deffo can wait a few more days. Happy Friday to all...
Not found anything that points either way as to whether they are going make the pre-qualification results on the licences public, you find anything Jiving?
See you in Daytona Bolton
Very positive also he says 10 days won't want to miss another date so I think 10 days is absolute max said that to cover himself i would not be surprised if next week. Good luck all
Exactly this is good behaviour, to let market know delay is legitimate.
We may still get an RNS this Monday if the DPR new license announcement due this Sunday effects us.
Edit. Rise. Lol
Shame about the delay but all in all looking on track
Well that's great Arthur .That's all we needed. Crack on now and conclude everything by 20 th July. Al sounds good to me.
I expect the SP to to fuse sugnificantly
Well done Arthur. Good to see shareholders being given a timely and positive update. A week Monday it is.
Agree....just the formalities to go, nice!
I actually think we rally from here, a build up back to the 0.40’s and then sail through 0.5 on confirmation next week
Next week! Positive
"We are close to completion on these, but with both parties working amicably we just ran out of time. We continue to look forward to the future working relationship with Essar to unlock the potential of OPL 226."
Reads positive, shame the date has been pushed out but at least it sounds like everything is going as planned