Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The wells would need to be inspected first as they have been shut for a while. Then a plan will come together on what work needs doing to stimulate the flow again.
He also mentioned they have the 3D map for further exploration...
If people want to keep Cambay, how about we just farm out our 45% until India’s gas demand goes sky high and focus on Kampar first?
If that was the case Yuri, and we don't really know, it is much less than the problematic drilling in Cambay.
It holds great value but it will require patience. It will cost less than a mil to get fired up too.
As I said before I was genuinely baffled by the market reaction to the Kampar news. It seemed like the best news for yonks. I would have thought that coupled with the drastic reduction in cash burn we would have seen a rise not the substantial fall we actually got.
It certainly sound like Kampar could be revenue producing quicker than Cambay and without the uncertainty of whether the new drilling techniques will be successful. Then again being able to finance it still relies on completion of gspc's sale.
Won’t be till sometime next year....
Turn the taps on Joe! :)
Maybe it's just me but they did say
Technical work carried out by Oilex and its advisors estimate that the field can be quickly brought back online at 350 to 400 bopd and that significant additional production potential may be possible from infill drilling and also water injection support
Oil is forecast to hit $50 a barrel
https://www.fxempire.com/forecasts/article/oil-price-fundamental-daily-forecast-traders-betting-bullish-eia-numbers-offset-covid-19-demand-worries-665126
So 400 bopd x365 x$50 is min cash flow of 7.3 million $
Hmm top up time me thinks