Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Indeed, there is more than a hint of sour grapes in ngms27's posts. If he's so certain of being right surely instead of griping on bb's opening a short and recouping lost money would be the obvious play.
As a holder here I wouldn't like it if he's right but would not for an instant begrudge him if he put his money where his opinions are.
Mk111
Certain people want to see this Company fail and not for financial reasons.
Again, why don't short HUR and get all of your money back if you're so certain of it's imminent demise.
Surely it's not on ethical grounds?
I’m sure if things were totally hopeless Crystal Amber and Kerogen would have taken an appropriate course of action.
DiveCentre, no motive just discussion around a share I held for over 5 years and got fcuked over with. I honestly believe the Company is in death spiral and it will take something special to pull it out.
Sorry rns
Ngms, you have appeared again on this BB and responded to a number of posts and questions, at times at great length. Every post has a negative connotation or if we are lucky there is a small twinkling positive snippet in there. I'm sorry but you've given me a belly laugh with your latest about anything outside an end is conjecture. Are you serious?....... All you've done for evermore is apply a negative slant on all YOUR conjecture. NGMS and irony.....oh my sides.
ngms27
I do believe a word you say.
You have sold up but you continue to post prolifically with negative comments. What is your motive?
PlantedBHA, just cementing and producing higher up is likely to be problematic as they will have a small contact with fractures.
However sealing off and sidetracking higher up is the most likely scenario especially for 7z IMHO but then they may also produce from the victory sandstone.
DiveCenter, they believed the OGA would be grateful for anything. How wrong they were, but my understanding is that Spirit didn't want to commit either.
JoeSoap, its really is conjecture that the OGA will drop requirements to establish OWC. I'm included to think that this far in with the license that they required delineation so they can get HUR to drop parts to allow them to be re-marketed in another licensing round.
proverloop, one thing you learn in this game is that anything outside RNS is conjecture and anything in an RNS should be questioned and independently tested. Especially on AIM.
There is no value in talking to the BoD, which incidently I used to do with other oilers and realised they were full of Taurus Merde.
Sailplane, I would not disagree with your view, afterall the CMD had this:
Going Forward.
Field Determination: The GWA JV is seeking a field determination over local structural closure for the purpose of progressing a field development incorporating a single well tieback to the Aoka Mizu of either the Lincoln Cretal well or an alternate shallower producer.
Key words:
local - P1368S licence only
structural closure - not full CPR values
alternate shallower producer - a new well within the structure that produces
imo the WD result threw their existing plan(s) with the OGA into the bin because it went against the theory that oil would flow from below structural closure, and all fields would behave the same, as they were "analagous" in the CPRs.
Therefore the 'fix' recently discussed of dropping the CPR values to those within the structure(s) could lead to dropping the Licence commitment drills as published by Crystal Amber in their RNS.
jimo
joe
Which is your installation of choice we may have met ?
Planted- if I knew why it was still 5p, I wouldn't still be working away from home for 3 weeks at a time.
Moor/NGMS - why don't you contact them if none of the answers satisfy you?
oga.correspondence@ogauthority.co.uk
Tel: 0300 020 1010 or 1090
Sailplane
If your understanding is correct then you have to ask why HUR/Spirit made public their intention to tie back one of the Lincoln /Warwick wells before they were even drilled. Did they not understand the OGA's requirements for a permit or did the OGA change the rules.
Any chance we can pump some cement down there and plug back to acceptable depth to produce from ?
Just a thought ?
Moor
As I understand it the reason the OGA are against the tieback of Lincoln Crestal is that it (I believe) dips just below structural closure. If it had been all within structural closure then the exact extent of the field from which it will produce is known - and everyone is happy with that. But if you want to produce from below structural closure then they need to know the extent of the field and that requires knowing the OWC depth - hence the OGA's requirement for a commitment vertical well on Lincoln, to define that. That's my take on it, anyway - let's see what others have to say.
moorlaner; i may be worng on this (often am), but the oga decision may be connected to the Lincoln field boundary - i believe PMO own the the adjacent licence (to the eastern boundary) and that, if the owc is as as-determined (previously) by Dr T's Hur , then there may be a resource ownership issue to be resolved. Obviously, the corollary is that if the owc were to be (entirely) within the Hur licence there would be no issue. I also recall some comment (from Dr Trice) relating to tech difficulties - arising maybe from the difference between linc oil (@42api, approaching condensate) and 6/7z' s38 api. Those with better memories may be able to correct these comments - pls don't take them as gospel.
gla
It is not a correct statement of fact. O.G.A. have made a proposal to HUR/Spirit for field determination of local closure at Lincoln. HUR/Spirit have 60 days to respond to the proposal which is due early this September.
GLA.
SpruceGoose2,
Usually i'm more laminar, but I do tend to transition into the moody sort and can be a bit turbulent.
I mean, it's been a bit hot recently here in England, so with the temperature higher than usual, my regime tends towards the turbulent side!
Several RNS' have stated that the technical review will be be expected on "or before" the interim results.
I'm definitely leaning towards "before" since they have mentioned this multiple times. So who knows, we may get this update late August.
Whatever their technical review is, they really need to get some good press out to bring back the investors that this company is now lacking, preferably instituitional investors.
ALL IMO. Slift.
"OGA have said last years 9800bbopd find can't be tied back to AM, that is probably there final answer, even though HURR/Spirit may continue to argue the case. So they will have to PA the well but the oil is there & the probably will come back to it at a later date."
Can anyone explain to me in layman's language why the OGA have adopted this stance? Thx
Slift; thought you might be the moody sort.
I hope to hell the bod appreciate that September offers probably a defining moment/event in which the co'y can explain wtf has been/is going-on, and come-clean about the dirt, also. Ok, so Dr T is probably under a nda, but 7z's water origin? C'mon bod, earn your money (for the first time in several years, imho).
atb &
gla
ngms27
"Stu,
That's a very simplistic argument.
Will that level of production fund the work program ordered by the OGA?
Will that level of production be enough to save equity from being swallowed by the Convertibles?
The answer to both is no BTW, but like I said shorter term you may eek out a few pennies if you get lucky. On the other hand..."
The answer is not "no" to both. If the level of production is enough to pay back the bond on maturity date, then the answer is yes. Additionally, the convertibles cannot be exchanged for equity unless the share price hits a level significantly higher than current.
It's unclear to me why so many people are getting hard/aroused over the bond. It will be either rolled over, paid back in full or an alternative arrangement put in place. There will be no release of additional equity to settle the bond.
ohhhhh, Slift, you've given it away!
gla