Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Yes. Nigeria under pressure to get on with it with current Oil price and rising.
Nigeria looking to up their Oil production and revenues to take advantage of higher Oil price.
OPL226 should be sorted pretty soon in my view.
WTI $76.64
Brent $80.54
Shouston, which will make the most money for the company. Atomic will keep the lights on until Nigeria starts gushing oil.
A beautiful dichotomy,,YM
Which will pull through first
Chin chin
Only ever invested here for Nigeria.
Atomic was a bonus.
Nigeria will happen one day and we can reasonably expect it before the end of 2022.
Shouston
Nigeria a monster if Essar ever get clearance to get on with if they have spent near $80 million on it
already and plan 3 exploration drills followed by 18 production wells on the first of 4 discoveries
on the license, target 5000-20000 bopd per well
We are just one of dozens of licenses awaiting renewal and extension , some over 2 years expired
local press blames all on waiting for the PIB , that was signed into law July , so things should in
theory be moving again
But how long that queue is and when Essar get the call for a signature and a bonus payment
who knows, probably looking at the partners extending to wait on that news
on the flip side they could call them tomorrow who knows , not I lol
:))
Only ever invested here for Atomic.
Nigeria was, lala land, pie in the sky.
They, like TL are realising that they need to extract as quickly as possible. 2035-50 is cut off point. (Imho)
Gla, roll on tomozzz
"So now things are breaking … we’re now facing the music,” he told Reuters, though he added that the country would catch up on production by early 2022 as companies rush maintenance and repairs."
Yes Kola still alive but needs to spend more time on Oil coming our way than
Oil of Olay lol
:))
Title The Agba Oye of Ibadan
influential and wealthy son of Ibadan in person of Orikolade Adebayo Karim as the next receiver of the
prestigious title.
Sources told Spotlight that the billionaire oil mogul better known as Kola Karim seems to be one of the
youngest of all who contested for the title. As Karim climbs the golden ladder with the Ibadan’s
glamorous traditional title
it was also learnt that he was not selected to be conferred with the title of ‘Agba Oye’ by accident.
The qualities that defined the title were inherent in him; bold and pragmatic in response to every
challenge
That was one of them , If I remember the other was something to do with promotion of some
heavyweight fashion industry companies to grow the industry in Nigeria and he was one
of the council announced to help them develop in country shops in city malls etc
So he's a bigger and bigger cheese at home every year, had a laugh last year read one he
is a frequent flyer and contributor to VOGUE and one of the other big fashion magazines
lol
:))
Nice spot HFB, so Kola is still alive, I was beginning to wonder - good news for potential license extension then.
yes Kola well in with the locals, had two recent promotions one onto some council or other
the other some regional local tribal Chief thing , he's now the top dog with a fancy title
:))
Also mooted to be one of the local entrepreneurs to become directors and board
members in NNPC when they IPO to NNPC Ltd moving to a business structure
vice long standing corrupt politicians over lording it and filling their pockets
New set up supposed to be 51% non government control by business side
but the share split proposed has been reversed to Gov retaining control
TIA always bent as hell and tripping over its own self created messes
:))
https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-as-opec-reopens-the-taps-top-african-oil-exporters-losing-race-to-pump/
get our opl extended we can help lol
:))
and in other news
https://oilprice.com/Energy/Crude-Oil/Nigeria-Doubles-Down-On-Oil-After-Years-Of-Trouble.html
https://oilprice.com/Energy/Crude-Oil/US-Oil-Rig-Count-Jumps-As-Crude-Prices-Near-3-Year-High.html
:))
Does look good to continue LB
Auction periods 14:00 tick UT 0.30p
pre close Auction 1630-1635 close UT 0.31p
:))
Cheers HFB
Cannot imagine the great leader fetching much on the open transfer. Tbh.
Yes, what will happen this week...!! thought today was going to be worse than it ended. Should be north from now.
Normally only if they have already exceeded a holding making them the majority
holder of the company and make an offer for the outstanding shares , hostile
take over directly to holders , we will take them at X price
The BOD could call for a EGM and request you vote against, likewise if the others
have over only 10% in many cases they can also call an EGM to vote the current
BOD out
So it is possible but I can't remember the last one I saw that was not on a
FAILING company that the majority core holders had got fed up of promises
by an over paid life style BOD rewarding themselves for inaction and failure
and time to cut them off at the knees lol
:))
soz about that Shaa , being a good Catholic boy I will now give myself
a sound flagellation and hope Arty does not have any hail Mary's to
report lol
:))
Can a company take over another without shareholder approval?
So what do we expect tomoz team? More of the same churn the gurn !
Before the 9pm watershed HFB, that was a crude and messy remark, lol.
blaaaaaaaaah mooted lol
as long as our messi is not leaking all over the land lol
:))
If an offer came it could be more about their own developments not ours
Exxon next door will be moving at a much quicker rate than we are and
if they determine from their own results and seismic
Our land containing something they want attached to their own they
could move early to take us out cheap before we discover all of our
own riches
Hoping not the case and we can see our journey as outlined in December 2020
through 2022 stay on track and get the rerate it warrants, with perhaps a
second rerate on Essar success and taking up our option
First things first , consolidation , news updates , market cap recovery and then
the real reason he has chosen to suddenly do the consolidation right now
Many things could come of that more attractive share price and 164m share
base , higher quality funding or strategic core investor to fund the likes of
CUDA/CNOOC or his much muted looking at other Wyoming assets
Not to mention the results of the initial Deeps vertical pilot well , what did
they find , has he now decided to advance plans for a Horizontal drill program
due to an exceptional result in one of the layers discovered , typically the
Horizontal can flow many multiples of the vertical flow on the same field
Likewise MF going so well excuse the pun , decided to promote Cole Creek
ahead of schedule, he is not short of options for aggressive growth
Fingers crossed he sets the wheels rolling with some news this week to
bolster the SP into the consolidation and what ever it is he is planning
/:))
Also Tiburn, we are at the start of a 40 year cycle, lots of unknowns and possibly Nigeria.
You are correct we don’t know the full details but it could be like the football analogy, a 36 year old Messi will go for £20M but a 21 year old Messi will go for £150M - more potential and longer career.
A takeover could occur of course, but COPL may not be on Major radars just yet with production at circa 2500 gross bopd and only 57% of that WI and just 31m barrel P2 reserves.
May also explain the somewhat low key marketing, Deep discovery etc - stay under the radar?
Many distressed operators like Atomic in PRB, with higher production.
AM is an experienced oilman, knows he probably has a period of grace to grow into a mid cap,
Scale of deal example, Continental buy out of Samson as entry to PRB:
https://www.ogj.com/general-interest/companies/article/14198791/continental-enters-wyoming-powder-river-basin-sets-2021-capex-at-14-billion
"Continental executed definitive documents earlier in the year to acquire the 130,000 net acres and 9,000 boe/d of production for $215 million, the company said in a Feb. 16 quarterly report. The deal includes 96 approved federal drilling permits."
"These Powder River basin assets provide Continental another oil-weighted platform, adding over 400 MMboe of net unrisked resource potential to our portfolio,"
This deal back in March, WTI on the up then, low value overall though for 400 million barrels unrisked and 9,000 boe/d of production.
If that was worth $215m explains to an extent why we are valued at $50m MC as pro rata value - however we dont know the full deal details.
AM has a plan to transition to a mid cap.