Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Manyana, what changes people's beliefs about value?
Back in 2013 financially savvy people would have said if you could buy PVR for £250 million that would be an absolute bargain?
But how many financial analysts now think paying £250 million to buy PVR would be an absolute bargain? What has changed their idea of "value"? The Barryoe oil-and-gas asset is just the same as it was back then - plus, global oil demand is actually higher now than in 2013. So logically PVR should be worth much more than £250 million in a takeover by another oil company such as BP, Exxon, Total or Tullow.
I would agree with you that given BP has net debt of £36 Billion, and Royal Dutch Shell has net debt of £60 Billion then it should be a drop in the ocean for them to find £100 million to takeover PVR.
But what "should be the case" has not been happening in financial markets for years now. QE has distorted everything and nothing makes sense anymore. Nobody who is reasonably sane financially could think paying £240 million for Neymar is a better use of money than paying £100 million to buy PVR (as the Barryoe oil-and-gas asset is worth billions as you rightly say and it can easily be developed for less than £200 million).
If Barcelona were rational they would sell Neymar, use the money to buy PVR for £100 million, develop Barryoe and make a profit of £1,000 million. And then they would invest this money in re-buying Neymar and also in cloning technology. They would then produce another 3 Neymars and sell them simultaneously (before anyone realised that Neymar had been cloned). They would then ....... have descended into absurdity.
But when did it become a farce? That is perhaps a more interesting question.
Lol
Anything is possible. Back in autumn 2008 who would have believed that QE1, QE2 and QE3 were going to come along?
Back in autumn 2008 who would have believed that global oil production would increase by 20% by 2018 (when everyone on the news/in the media at the time wanted governments to stop funding fossil fuels due to climate change)?
Back in autumn 2008 who would have believed that the transfer record in football would increase to over £240 million (the Neymar deal)?
Back in autumn 2008 who would have believed that UK interest rates would stay at 0.5% for the next eight years and would by late 2019 only be at 0.75% (instead of back to 2.75% for example which still seems quite a low figure)?
Back in late 2008 who would have believed that the net debt of Chevron would have more than doubled by 2018 and yet the share price would of actually gone up (not down due to their excessive levels of debt).
I am not saying Chevron is the only oil company with excessive debt. Royal Dutch Shell has net debt of over $77 Billion. Petrobras has net debt of over $100 Billion. So their net debts have gone from worryingly large in 2008 to their current level of more than double what they were (how come investors seems so relaxed as if the world was in a financial mess in 2008 it is in a far bigger mess right now).
All of the US shale oil producers have grown their oil production so rapidly through increasing their net debts.
Low interest rates have been a disaster for those protesting against climate change. The increase in financial liquidity since autumn 2008 has allowed oil companies around the globe to borrow more and increase their daily oil production.
It is not just one or two crude oil producing companies which have been able to massively increase their debts, and also their daily oil production due to Quantitative Easing. Nearly every medium and major oil company (Canadian Natural Resources (CNRL), Tullow Oil, EOG resources, Chevron, BP, Royal Dutch Shell, Petrobras, Eni, Repsol, Rosneft, Inpex, Petronas, Suncor Energy, Cenovus Energy, Phillips and ONGC) now has more than double the net debt they had back in 2009.
The FED is just spewing out Dollars like confetti to fund natural resources companies to grow their production levels - it doesn't make any sense - at least not for the planet and the climate.
First of all, Tony is not "a friend of mine". If you know my past you would know I am anti the O'Reilly family. They have had more disasters in business than any other family I know. But I look at the facts which people seem to overlook by making their own judgements.
Where is the proof that the APEC deal is a fiasco and is dead in the water? Have you insider information? If it were dead then O'Reilly would have been legally bound to inform us. He has not so technically it is still there until he makes a definitive statement. That is a requirement under company law which you people seem to ignore.
As for the share price, if anybody does not think that 3p a share is a bargain when there is a $20billion asset sitting in the ground must be mad. Here is a company capitalised at £22m. What would you say if somebody came in and offered £100m for it? Is it worth it? It now has no overheads after he got rid of those wasters run by John O'Sullivan, has no debt and has a number of very valuable oil assets other than Barryroe. £100m would be peanuts.
Would you be happy for it to be sold for £100m? I would actually make a lot of money if it were so do I care? And at a share price of about 15p the institutions who invested would not be reasonably unhappy as they bought in at prices such as 12p and 5p and would easily get their money back. So, no I would not be too unhappy because I am on the right side of the price but for those who have been "stung" over the years I can understand where their frustration comes from but it flies in the face of the facts.
O'Reilly will have to make a statement sooner or later. Historically he has always made an end-of-year statement. It will be very interesting if he fails to make one this year because of what is not said. We are now less than six weeks away from the end of the year. Let's see what happens between now and then.
How does one know there is no interest from majors in PBR .... well I suppose one cannot know ... especially as no information apart from general statements in support of turning the drill bit is ever released by this company as far as i can see ... but a clue might be the fact that your friend Tony has apparently been trying to farm it out for the last 6 years or more .... presumably you would consider those attempts to be unsuccessful and tus indicative of perhaps a lack of interest ?
Both McCoss and PP were in situ during the APEC fiasco....late night calls, money definitely coming etc.
It'll hardly win any deal of the year awards!
Ranger4,
How do you know there is no interest from any major in Barryroe? Have you insider information, a crystal ball or are you speaking off the top of your head?
As for Pat Plunkett, while he as 1.75m shares he also has 1.75m options at 17c up to 2024. So, in effect he has 3.5m shares in his kit bag. For somebody who held such high positions in the past including owning a share in a stockbroker and has a long history in finance. So why is Plunkett in Providence if it is a dead duck?
Similarly McCoss. He has a major job in Tullow so why double job with Providence?
These are both deal makers and you can be sure they are sussing the market for opportunities to develop Barryroe unless, of course, Ranger4 has some inside information he can inform us of to the contrary.
(Alliance News) - Fitch Ratings late Friday said it has affirmed Ireland's long-term foreign-currency issuer default rating at A+ with a stable outlook.
Fitch noted that the Irish government had adopted a no-deal Brexit as a central assumption in its 2020 budget process back in October. However, since then, the risk of a no-deal Brexit by the UK, which would be harmful to Ireland, has been reduced, due to the withdrawal agreement that avoids a hard border between the Republic and Northern Ireland.
That agreement still needs approval by Westminster following the December 12 general election in the UK.
I'm very surprised that Fitch considers Irish debt to be a grade A investment when the Irish economy is almost completely dependent on importing oil from foreign countries, or on importing petrol/diesel from refineries in foreign countries.
There is almost no visibility on the security of future energy supply to the Irish economy. What are the people at Fitch smoking?
I agree with ps100306 post and to add there is no intrest from any major with barryroe thats why the Bronze and board ended up in a corner accepting a $ hitty deal from a dubious chinese entity the real shame is that pvr had the cash but squandered it through the Bronze and boards Incompetence and now current pi will find themselfs been asked yet again to stomp up and face further dillution.