Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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DanielC43R,
If the your analysis is correct and I'm not suggesting it isn't.
4.7M is 8 x more than lost in the fraud case.
Assuming a replacement loan can be raised in the near future, a few weeks delay (inconvenience) and the shares dropped from 9p to 3p.
Today - Green shoots at least!!
Dow jones down
Fste down
Oil price down
Any other time the green shoots = 10%
Hello BigBoom1. Are you suggesting this is an incredible increase or nothing to be excited about ? My take is that an extra 222 barrels oil per day (to Lekoil) so far this year is ok but nothing to get really excited about (an extra $4.7M per year). Still, a good RNS is better than the funding scam one I suppose. Lets hope for more good RNS's in the future.
NewKOTB
""LEK may be the most undervalued oil producer on AIM atm IMO....."
For a reason ! "
Can you detail `The Reason` , or , is this just `Kite flying`?
Good post Bridgedog !
I posted something along those lines last week after I had bought my first tranche .
Following the update today , I am really surprised at the market reaction ~~~ No I`m not !
Typical AIM ~~~ `Sell the news` , or possibly something even more disreputable .
Yes , `Sell` ! so `they `can buy in even cheaper .? Well , i took the bait today and bought more as I said I would last week !
Absolutely ridiculous price , it will almost certainly correct soon but if there is another opportunity to buy more cheaply , I will .
GL .
Well, personally I did and I am very happy to top up at such a ridiculously cheap price !!
"LEK may be the most undervalued oil producer on AIM atm IMO....."
For a reason !
DD required with LEK
Thanks Danker, I hoped someone with more intimate knowledge would jump in on that. Great opportunity here
Bridge great summary ...
Is this really undervalued ? Mcap circa 16M.
So LEK based on 2200 circa bopd equals $7M (20days) 2020 OML311
$7M due now , and another $7M in 4-6 weeks OML11
OML11 planned ramp up production to 8000 bopd for Lek circa 21M ( per 4-6weeks based on the above ) when up and producing 20000bopd,
in total all parties have to raise $170M , as LEK have an equity stake of 40% therefore as stated $68M debt equity should not be too difficult based on the above.
OPL310 potential if funding secured 232 million barrels of oil to Lek, yes work that out based on the 2000bopd guage above, spud planned for H2 2020 then into OML (mining license)
Also Lek paid $13Million for Afren 22% stake of 310 (above is the 17%) but lawsuit dropped to the Nigerian ministry and this is being worked out on the farm in agreed by Lek and Optimum, this probably will play a part
OPL325 asset potentially huge , estimated unrisked 5067 million barrels of oil , LEK has an equity stake of 62% share,
Even Longer term Namibia 2415B exploration
Existing 276 asset.
E AL ‘It makes you think why the the Chief Financial Officer of Addax Petroleum , a subsidiary of Sinopec Group the third largest worldwide third & the biggest oil refiner in Asia joined a small O&G company in Nigeria?’
New CFO not yet announced and from Addax ( thanks OMITC EAL Mr Bel)
Appreciate, debt , opex, license fees, capex, low market confidence but look at the above and ask yourself is this under valued, do LEK have world class assets.
Sabotage, human error whatever the root cause., currently 3 pence..........
MCAP: £16m
Assets:
£2m Cash
Otakikpo NPV10 of £173 million, after income taxes
Receipts:
£11m (6 weeks)
Debt:
£14m loan notes
£8.8m debt facility (?)
Payments due:
£3m cost of the site survey (estimated at c. US$4 million) on OPL 310
£7.3m to Optimum which covers sunk costs and consent fees
£21m - evidence of its ability to fund first appraisal well OPL 310 deferred until July 2020.
Target:
x4 bopd
LEK may be the most undervalued oil producer on AIM atm IMO
4p soon. They have been given £7million and more is coming soon. With a market cap of only £13million expect this to rise to 6p in a few weeks