Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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"The new agreement comes into place in January and results in ..... blah blah blah....'
When did a KRG- ICG annual budget ever get implemented since Genel (The Vallares RTO special edition) was launched by Tony and Guys ?
Don't kid yourselves that this budget will be any different. I used to get excited about these - total waste of time.
G is doin' alright and so (due to some impenetrable tribal affiliations and local fiefdoms that no western observer understands) is the KRG. Baghdad is, frankly, not doin' alright.
That's why the sp is sub 250p.
ISIL is not defeated btw, Hawkey - so please knock it off the top of your list and put more recent/important stuff there. ISIS is busy morphing into the re-branded version of the Jihadi Franchise that will erupt onto our news screens with some atrocity when it is ready to do so.
Just chillax, enjoy Christmas, bank G's divis and trade it according to the charts that some sad person keeps putting under your nose to make it easy.
I'm currently having my best year ever with G - I wonder why?
https://invst.ly/p3w1p
Hydrogen,
I don't think I can add anything to your figures which are are far as known correct.
I know the KRG have been getting some of their budget up to now but nothing like the full amount is my understanding. Your right though it seems to leave Bagdad much worse of and KRG so muc better off.
I would imagine its the information not put out there which makes this a better deal for Bagdad. It could the way the KRG use this money e.g. refugees, infrastructure etc which is the reason for the cash.
It could be for support from the Peshmerga, tidying up oil exports, taking any further referendum noise away or many other reasons. Also worth noting that a prosperous Kurdistan has got to be good for the greater Iraq.
So in conclusion......I have no idea how or why the agreement got made other than what in public arena.
One thing I am very very confident of is our payments will get back on track in January and continue flawlessly after that.
Hawkey
REASONS TO BE CHEERFUL
ISIL defeated
Opec and Russia working together long term.
Iranian barrels off the market.
New government established in Kurdistan & Iraq.
New oil partnership between KRG & Bagdad
Higher rates per barrel achieved by KRG under new deal.
Rosneft involved in massive exploration & development projects.
GKP, Gazprom, Shamaran, Rosneft investing billions of dollars in Kurdistan
Oil production increasing year on year..
New strategy, New Board, New CEO
Free Cash flow huge for a company our size
Major shareholder recently increased holdings in company to 20%
Same shareholder is a major energy supplier in Turkey
Very high percentage of shares owned by major institutions.
Some of lowest Production cost in the world.
Implied free cash flow yield of over 20%
Market cap 50% of net assets.
No net debt. Over 115$ million cash balance currently.
Likely over 140$ million cash balance when Jan payments made.
Over 6% dividend and increasing.
Next dividend of 5 cents due for payment in January.
Company confirms in the market for corporate action in or out of KRG.
170$ million Capex this year. More than last 2 years combined.
At 40$ a barrel Genel can continue with dividend
At 36$ a barrel Genel breaks even……Wow
Production from Tawke PSC over 120k barrels oil per day.
1 Peshkabir well producing 11k BOPD
60k Peshkabir Oil pipeline completed.
Tawke Gas reinjection project to increase production in 2020
Tawke expected to maintain 120k BOPD into 2020.
Taq Taq TT34 results due soon.
Taq Taq production stable at 11,000 BOPD
20 new wells on various fields drilled this year.
Bina Bawi & Miran updated CPR showing huge increase in resource +27% + 78%.
Bina Bawi oil now major focus, easy win and production within 6 months of drilling.
Bina Bawi Intensive discussions under way, could land at any time.
Bina Bawi barrels of oil worth more than even Peshkabir to Genel
Bina Field development plan and commercial proposal submitted to KRG
Sarta quick ramp up to 20k gross. First oil expected July next year.
Sarta production could replace of ALL current field production.
Qara Dagh huge potential could be half a billion resource
Parker 269 Rig secured to drill Qara Dagh in H1 2020.
Somaliland 2D Seismic completed. Analysis completed.
Genel recently increased percentage of SL1310B block to 100%.
Major farm out process now under for Somaliland partner.
Somaliland massive basin akin to Yemin, unexplored.
Somaliland potentially 2 Billion plus barrels of Oil.
Somailand huge international investment ongoing.
Morocco farmin process starts 2020. Big field
Hawkey & ocelot......lol