Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I read the investor presentation this evening and there were 2 or 3 hints that we will be taking over another entity (at least a field). I know it's very common in O&G to buy 10% of this or 20% of that to build out a portfolio.
Those revenues are already looking nice in the bank balance. (It would be nice to throw in some net debt figures onto the occasional RNS to let us share in the fun)
In my experience companies that have acquisition as part of their strategy have a pipeline of opportunities that they're looking at at any one time (I know; obvious right)
Someone who owns a field of gas within reach of Saturn Banks might reason that time is of the essence and they should take that aggressive deal that we've put on the table and hope to get to market in 18 months with some prices that still look favourable.
I know we took the right decision to farm out nearly 50% to team Buffet. I expect they would like to have bought 50% of everything in retrospect. Tbh probably slightly moot as they could have 48%, and the more established of the reserves. That last bit's a guess would be interested in other views.
Anyway, the point I'm trying to make is that we have an internal pipeline of projects and are thinking strategically, it would seem, about how strong we are in a negotiation.
We don't need them; but they sure as heck need us.
True but with the current gas situation nobody sane would consider a lowball offer or expect one to be accepted surely?
Boots pharmacy a totally different liability.
Interesting page in today's DT Business section on the abrupt halt in takeover activity - highlighting the recent collapse of the proposed deal for Boots the chemist, with a £5b offer significantly below the £7b sale figure demanded by Boots parent Walgreens. "City sources add that the effective closure of debt markets to private equity was undoubtedly a factor." Leading brokers confirm that a series of stock market flotations have been pulled and takeovers shelved. This effect will naturally filter down to the small caps in the O & G sector so it might be advisable to hold back on flying any further kites of potential takeover action and concentrate on the company's improving fundamentals and cash flow for the present. All IMHO.