Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Good interview I’m confident Roland can get the job done with his experience
Happy to be buying and holding
Won’t be that long
Thanks for that Jasper. After listening to the interview im glad I topped up another half million shares this morning. Patience is the key on this project. As a wise man once said. The stock market is a device for transferring money from the inpatient to the patient.
Jasper. Fair enough, I suppose his track record would make it easier to raise cash for specific projects. However, you wouldn't really think they'd want to take on more debt until Cambay is on sounder footing. Going to be interesting. Was thinking that this time around I'd be in and out on less than a year. May have to hang around a bit longer. Atb.
Gordon.... he seemed to think that opportunities could be forthcoming as portfolios get reassessed and licence renewals come up for grabs. Funding will get sorted based upon the individual opportunity. He did mention and also reaffirmed this in today’s interview that he wants a portfolio of assets that are exploring and producing and not have all eggs in same basket. I think he’s keen on UK and Ireland.
Hard to know what to make of this bit
"Future opportunities will be considered specifically any projects that are oil/gas producing to gain immediate cash flow. Feelers are being put out that Oilex is in the market and acquisitive."
Anything that is producing is going to cost a lot of cash. So are they expecting a big cash injection? Atb.
Thanks for that Jasper. Sounds like he was a bit more forthcoming than I would have expected. Very good that they are already working in the field to bring the two existing Wells back into production. Hopefully make a contribution to cash flow soon. It depends on what you define as modest as regards the cash to drill the two new Wells. It was previously stated that the two would cost 5 to 6 million usd. They obviously can't do this without a jv. The amount they give up depends on what the interested parties are willing to pay. The more this is the less Oilex will have to give up and of course their share of the drilling costs will reduce by the same %. A really good valuation/deal could give a decent sp boost.
Personally, I will be pleasantly surprised if we see results from the new Wells before early next year, so as always patience is required. Atb.
15 yrs in Scotland, perhaps should invite him
ober for a wee glass of glenfarclas bottle arriving later this week- good banter, atb
https://twitter.com/StockBoxMedia/status/1407285273679912963
Roland live now
The Star Energy story…
I always said the dream was to be bought out. If the 2 drills are successful, don’t be surprised if someone hands us a bid to take us over as we are a very cheap company sitting on a fortune.
Wow Jasper thanks very much....gonna be bigger than I thought!
I said last night I’d post details of my conversation with Roland. Here is the detail including my own take and interpretation.
India is key priority and is currently awaiting ratification, all approvals have been sought. Work is currently underway with regard to the required technical stimulation processes of both the current wells. Joe will play an integral part in the sub surface strategy to bring the wells back on stream.
Moderate cash is required for the two wells/production and we all know a JV has been muted for this. Oilex want to retain a significant majority stake in any JV, discussions still ongoing and they won’t sell the value short.
Future opportunities will be considered specifically any projects that are oil/gas producing to gain immediate cash flow. Feelers are being put out that Oilex is in the market and acquisitive.
Ireland represents a great opportunity and work will continue.
Roland is very keen to develop a strategy around gas storage and utilise processes and strategies that support the drive for cleaner energy supply. He has a proven background in this with Star.
I asked about the long term aspirations of future enterprise value. He thinks Oilex could in time, if the ducks line up, repeat the value of Star Energy acquisition by Petronas for £339m.
I gained the impression he’s been bought in to support the complete re-setting of the company with a short term aim of making it cash flow producing as soon as possible.
He was very knowledgeable about the business and I took an awful lot of positives regarding his strategic thoughts and plans.
The driver behind the next valuation milestones will be JV and production. I’d like to see Oilex retain at least 70% of the Cambay licence, at which point market value could be around £25-30m.
Hope that helps.