Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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- FD well had to be drilled or lose the permit/ to keep the unit from being dissolved , so it was by happenstance, not the stated development strategy when Atomic was bought
- FD well confidentiality request focused on lower levels to Wyoming BLM, as "There are currently no wells in close proximity to the subject well that produce out of any formations other than the Shannon."
- AM has assigned the Shannon level of FD to the BFU - and so subject to that WI arrangement - lower levels are FD and that different arrangement - FD levels below Shannon may be 100% WI to COPL
- FD well confidentiality request may = material discovery that flows, COPL need to decide drilling approach as all may change for the companys overall plans and capex requirement for 2022
"We are excited about our 100% owned Barron Flats Federal (Deep) oil discovery announced today. Our next task is to test all six of the sand intervals through casing over the next several weeks. This well is a testament to our team which identified substantial upside below the Barron Flats Shannon Unit, further demonstrating the value of the Atomic acquisition to COPL"
Thanks, was thinking part way through, why did we drill it for black lives matter?
Great work form eleets &doug,
the plot thickens lol.
Thanks Tiburn,
Yes, slightly north east of Casper still has a few plots and which appear to be more centrally located in the basin. Is that I don’t see AM selling the family silver for Cuda.
Doug
Excellent insight
Interestingly in that link you sent however, there is one red parcel of land for sale NE of Casper thats look to be close to BFU
I checked the lease status before for BLM and lease sales were suspended in Q2 due to enviro challenges, but their site not updated since - perhaps they are starting to sell leases again hence the SWP action?
https://eplanning.blm.gov/eplanning-ui/project/2003625/570
"The Bureau of Land Management is exercising its discretion to not hold lease sales in the second quarter of Calendar Year 2021."
The BLM (Bureau of Land Management) are responsible for issuing (via auctions etc) further plots for development. Should AM not be interested in Cuda but then has another asset on the basin lined up, it would then be beneficial in looking after BLM’s interests, as Chesapeake et al appear to be doing.
https://eplanning.blm.gov/public_projects/2003636/200393911/20029513/250035714/ParcelsProposedForSaleMarch2021.pdf
SWP then asking for confidentiality would simply be taking precaution should it turn out to be a gusher.
eleets
good find
It measn AM wants to keep the lower level horizons confidential at this time and not disclose their result on the Wyoming O&G commission data base/site which holds data on all wells in PRB.
Its a very interesting move indeed and supports the postion made that AM is controlloing information release such as this FD well for his own purposes - probabaly for the CUDA buyout position but there may be other reasons.
If it didnt flow why bother to ask for this confidental well status? SWP must know results by now - so the lower horizons may be substantial and determine the drill programme going forward.
This statement is from a report posted just yesterday
Decipher even haha
Can anyone decifer this? It's quite a vague request and I can't decide its a positive or negative?
"Southwestern Production Corp requests confidential status for the subject well based on it being an exploration well rather than a development well. The well was drilled at the request of BLM to identify other potential producing horizons in the Barron Flats Deep Unit in order to keep the unit from being dissolved. SWPs prior development has been in the Shannon Sand which is now part of Barron Flats Shannon Unit. There are currently no wells in close proximity to the subject well that produce out of any formations other than the Shannon. SWP requests for the information of this well to be held confidential while evaluating other potential horizons, and what a new discovery might mean for their future development plans. Additional information can be provided at the request of the Commission."