Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Can't say i'm gonna miss you :)
Decided sell my holding, GLA not liking general climate with shares, holding nothing now, GLA
Thank you, i have again sent emails to Peter regarding this very matter of more transparity with production numbers.
Someone else on ADVFN usually posts them. I will copy and paste them here when available.
Morning Brasso3 , any chance you can post the figures when they come out like you did in 12th June thks.
PL might give an update re first half trading at the AGM on 22 Jul
ATOM had a RNS at 7am on the day of their AGM
Might not help the SP in this current market, but might answer a few questions!
Thanks
Geoff
No chance of getting an RNS on this until mid August!
The figures will be available on the Argentine government website in about 2 weeks time.
PPC will be publishing the production figures from Argentina quarterly. They will know how many barrels of oil they produced in Q2 by COB today. I think it would be good practice to publish these figures on the 1st Business Day of the next Quarter. I.e. Tomorrow.
What are the chances of PPC being that efficient & professional?
Surprised some of bigger shareholders on register no pressure P L and put many of these questions too board
I agree on the debt Brasso3, no more spending until income/cash flow from the additional barrels to reduce the higher interest % debt pile. We could do with more international sales at higher prices to help with the average price per barrel
That is why I hope PPC is not raising money to inject into Green House and hope that the bond loan is not for this reason
The problem is not Atome and our interest.
The problem is we have to keep investing large sums in Argentina to keep production in the 2500 - 3000 BOEPD range and do not get exposure to market oil prices.
A better strategy would be to announce a debt reduction plan to pay off the high interest IYA loan ($11m at 12.5%). PL is taking $1.8m a year off PPC in loan repayments and a salary and the market cap of the company is around $40m.
As ATOM share holding is not adding any value to PPC MC and PPC have nearly 30% holding, I wonder if PL will do a deal with himself and get Alpha Oil to purchase 50% of PPC ATOM holding to fund the Green House start up. Alpha then match their pro rata contribution and they are off to the races with a few quid. Might actually add some value as its cash rather than share price based asset - plus ATOM shares should be unaffected. I cant be bothered to work out/look back on how much in real terms PL holds in ATOM from PPC holding, direct holding and within Alpha Oil.
I do have feeling there will be some activity in the very near term - just not sure in what now!
If PL is at the ATOM AGM today (not sure if in person or via Zoom) but assuming he is attending in person, I wonder if he will do an interview to update shareholders before the PPC AGM on 22 July.
600+ BOPD for the new Salta wells, should take PPC to over 3000 BOEPD now. Also, with Louisiana back up and running PPC will have some of it's production getting full price. This means core operations have stabilized and picked up a bit and PPC should now be generating a significant amount of cash each month.
Would be good to see the debt paid down. I seem to remember a few years back the aim was to be debt free by about now. Obviously COVID and etc etc has delayed that, but if PPC can start making inroads in to paying off it's debt I think the market would react favourably.
Also, PPC has interest in ATOM which if it does move in to Production in H1 2023 would be a great asset. Plus our gamblers shot in Paraguay, hopefully in the 2nd half of this year. At the moment that 17% chance looks like LTH's best hope of getting out with a profit....
Not much progress on Iceland.
https://www.lse.co.uk/rns/ATOM/agm-trading-update-ik6dv0dkzt26l1g.html
Thanks for the positive comeonvog
Will be interesting to see what the sp is at the end of the year.
Fingers crossed.
Atb,
Northern
President has returned to net profit and of course the Atome Energy IPO went well although it was generously priced, to go as it were. Chairman Peter Levine rightly questions the logic of the value of President versus Atome which in my view yet again proves that the former is massively undervalued if any proof was needed.
Argentina is still looking good with reduced opex and higher receivables, and along with high impact exploration later this year potentially substantial upside is potentially very exciting.
All we need is for PPC to be included in his Bucket list - kiss of death :-)
NM I do agree , it all feels a bit mishmash and no real focus, lots of potential but if/when . Like i said a few days ago if we can keep these new well's producing at a decent rate and manage to build our cash position through out this year i think we have a good chance to break out of this depressing valuation, good thing is i see little down side from this point if any.
probably.does tinge judgement with negativity but I really didn't find today's RNS very inspiring.
PL talks of quiet.confidence but we don't seem.to get a lot of things for us LTHs or even.New shareholders to be inspired by. He doesn't appear to be pushing the company forward as far as I can see 're positive PR or initiatives.
Increased debt when for some time PL has talked of reducing debt as a priority.
Not great movement in production and even this year they don't seem to be able to achieve a reasonable market price - much below as far as I can see.
Acquisitions - material efforts being made in this area and looking at possible geographical acquisitions outside their current geographical areas - they seem to have said this for a number of years and have done nothing.
I Are these fair criticisms or have I missed some positivez?
Atb,
Northern
Missed the RNS as was out and about this morning and still have only just skimmed over - but overall okay, no-one rushing to buy the shares this morning it seems, but equally no one dumping large volumes!
Seems to be no real shock in the 2021 results but I am concentrating more on 2022 to date plus the next 6 to 12 months trading/activity. It would be good if PL can keep spending and cost down during the remainder of the year and pay off more of that higher debt. No mention I can see on recent bond loan and why (but may have missed this), so more detail would be welcome on why it was required!
2022 Trading looks to be pretty good to date with the new wells now contributing - prices increasing albeit slowly, but going in the right direction
Salta producing as near expected (a bit later than planned with additional cost) lets see how this performs
Louisiana back online
Paraguay: certainly not shouting about this, but its carried and I'm sure they wouldn't spend $10 to $15m on drill without seeing something of interest at the new drill location - IMO the low COS % is clearly playing this down PL is placing a potential wealth warning on this drill i.e don't chase the PPC SP up to silly heights - the good part if that they don't need to big it up to raise funds and its not all in on one drill for the company. I am betting the drill will be delayed slighty by the comments made - how long delayed will be the challenge!
Green House Capitol: could be interesting side play having O & G and also Alternative energy mix in the same business - how will any new development be funded is my question?
Atome:if this does perform then there may well be some slight upside to PPC SP, but probably not to much based on history Martinez del Tineo field: looks like this could take 6+ months, IMO if gas prices stay inflated it may be sooner than this
Overall: things seem to be going in the right direction with prices increase, new wells online increasing production and US back producing, spending a bit challenging so needs to reduce. Paraguay Drill, Farm Out, Atome holding and Alternative Energy. Fully understand the negatives with LTH but the business seems to moving into a far better shape than the last few years - Good Luck All
Agree can see why drilling, spent so much in past plus rewards r massive from a non producing oil country, but not want see any more money spent on this, anyway away from negativity, still say company under valued and can only improve from here, let's hope buyers come in at these levels,
steven49 Everything has value , just because you cant see it does not mean it does not exist. That value of course can be positive or negative.
Let us remember this drill is effectively a free carry so why not drill.
Finncap not updated waste time these broker reports and targets, 17% chance not sure why people focus so much on Paraguay, no value unless they hit the zone
20th April 2022 RNS:-
'A further independent sub-surface study commissioned by President in March 2022 placed a 17% chance of success on the Tapir prospect. Of course this means also a high chance of failure and this correctly reflects the grounded attitude which investors must adopt in relation to exploration.'