Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Good point E121.. re market cap. that's why I'm confident our share price will go up once the accounts are released. We are worth more than £350m, especially since all the projects are now completed. We deserve a proper positive re-rate. ok not 40p yet , but 30p was my target pre Corona virus only just last week.. just need Opec+ to help push Brent back to $55 and Enq to 25p. Let US shale drop the rig count 10%/15% over the next 6 mths to support/push the price up further.. but then it's much higher given the decent DUCs and Tier 1 are much harder to find..
I would just give all the serious cases of Corana virus :Remdesivir.. It's about 8,100 people worldwide.. It's already an approved drug, and we should be close to seeing some data from the US trials.. it either works well or very well imv. If economic activity is subdued for 2 mths, then we will have to accept it.. Eta on hand gel is 4 weeks.. Eta on surgical masks is 8 weeks.
Carwow have suggested a great alternative to the Tiguan.... the Dacia Duster.. ?.
Oil rig count was just 1. Permian's up 2 - not exactly a ringing endorsements of spending cuts (just yet). With the large fall in WTI this week, it may be the next week or 2 before rigs get cut.
Shalers stocks are finally catching a bid today after being brutalised this week. The largest Permian player, Occidental (OXY) is down 25% this week and we certainly fared better than a $36 billion market cap company.
Fair points..
Larger than normal UT trade:
16:35:18
20.00
1,368,205
273,641.00
UT
That was probably the debt holders forcing them to hedge. We have elements of that with the Oz loan and Mercuria.` If anything it's the lenders deserve credit for the hedge. They are the ones controlling shale now.
Hitman - unfortunately, many of the shalers have hedged large volumes of their 2020 production at a low to mid 50s floor price. Some I track have hedged up to 70% of their annual production in 2020. They certainly won't be looking at next month's cash flow and make the call, but knowing that the price has dipped below $45 should force their hand. 95% of shale production is non-FCF generating at these price levels.
We'll know soon...
Down around 2% in the end with the bid and offer straddling 20p - looked like it was going to be much worst than that with the support at 18.78p going - we need some good news for Monday then I think we could quite easily get back to 25p relatively quickly.
Brent loosing $2 a day isn't what any of us want.. but it does speed up the decision making process in the US: ie: cancel all new drilling projects because the FCF from next months DD isn't there to fund it..
I think it is important to keep calm. As always this is a mass hysteria that the media is doing their best to spread. Yes there is short term impact. Supply chains in china have been disrupted but is the world going to end tomorrow? no
Squif - yes, there's that reality with the shale idi*ts. At $45, they're screwed - I can easily see large scale capex cuts in play. If WTI doesn't move back up into the 50s quickly enough, that is the reality. We'll see the rigs count in 2 hours - that should give us a sign.
GL
Another 35k shares. I think this drop is well over done. Sure if brent remains at these levels we will not be able to pay down the RCF but then again most shalers will be out of business. If they do not act there will be carnage. I still think that the annual report will show a very good profit (200m +), an increase in 2P reserves and even further debt pay down. Hopefully we can calculate what our premium is for Kraken oil. The shalers do not have a sustainable financial model and this will hopefully drive down production. This is a ponzi scheme