Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Bryan Frith
October 1, 2009 8:05pm
QUEENSLAND Gas has made a lot of smart moves in recent years, but the smartest was early this month when it signed up its visionary managing director Richard Cottee for at least a further six years at the helm. Cottee yesterday demonstrated why that is the case with a shrewd $830-$890 million agreed bid by QGC for one of its neighbouring CSG (coal-seam gas) hopefuls, Sunshine Gas.
https://www.news.com.au/news/sun-shines-for-queensland-gas-boss/news-story/32befbbec4bfa99073811f7336171dc8
Then I found this .... https://resourceglobalnetwork.com/portfolio_page/tlouenergy-2/
For newcomers , good background stuff, though I cannot see when it was written.
Late 2018 maybe from the reference to Q2 2019?
I like the way the story is consistent going back in time.
The move from bottling gas (or piping it) for third parties to use has changed but not a lot else.
Creating a power plant to generate electricity added two dimensions to the project, generation and distribution of electricity, plus the need to have a steady supply of gas to avoid outages.
TLOU never made a fuss about that at all .... cool!
https://resourceglobalnetwork.com/portfolio_page/tlouenergy-2/
Just had a light bulb moment!
If dewatering is quick then it probably means that water and gas have been escaping for thousands of years!
If it is slow then both gas and water have been trapped all that time!
No wonder excellent gas flows usually follow long/slow dewaterings!
thanks for the reassuring update minor
Thanks for the update MinorMiner. From the interview I got the impression that they had held off from funding as the rate they would get would be at a higher interest rate then they would get if they had commercial flow rates. He did state that funding from BDC was not dependent upon flow rates - just the funding rate was. He then mentioned about going with what they have got.
So regarding funding, if it were me I'd ask for initial funding, say $10m at the higher rate, and then ideally pick up the next $20m at a lower rate assuming flow rates were commercial by then. Looks like a PPA or at least interim PPA is coming very soon and if they unlock the funding then that's as good as we can hope for right now. Funded, agreement to sell and working on wiring up to the grid as they continue to dewater. Maybe with an additional well or two.
It would be nice to have a positive market reaction soon. The past 2 years, in particular the past 7 months have been dire! Or an increasingly good buying opportunity depending on how you look at it and what your time frame is.
Cheers Brad. More on QGC in Oz - worth a casual A$13bn, £6.5BN+
QGC Pty Limited[1] (previously Queensland Gas Company) was part of the international BG Group before BG was acquired by Royal Dutch Shell in 2016. QGC is one of the largest of several Australian coalbed methane companies developing methane reserves within the Bowen and Surat Basins of Queensland. The company has an estimated value of around A$13 billion.
There is very critical poster on HotCopper.
He has just prompted this response from another (not me) ..... contains a few aspects of TG's history that I have not heard before .... and the final sentence definitely not!
"Hold up bud.
you're talking about the person who has invested more cash than any other individual. The same person who worked for free for a yr. Then 1/2 rate for a yr . Thats 750k he has additionally sacrificed for everyone else's dilution. And is only on a modest CEO rate for most ASX gas explorers.
if you knew anything about csg you would know the longer to dewater means higher flow rates. QGC fields took 3+ yrs to dewater"
Gee whizz! Dynamite! I tried to find video coverage of Mr Moagi because he looks impressive (and reasonably young for a minister) and I wondered if he sounded as he looks.
He reminds me of John Over , deputy chief constable of Dorset Police yonks ago.
I met him for the first time in a high powered conference between us , the Home Office and Plessey , who wanted to to back oout of the computer project. I was computer manager for my technical skills rather than managerial capacity. A debate between me and Plessey ensued until I got to the end of my tether tbh!
At that point John took over , pardon the pun, gave me a wink and summed up what we'd said.
We won hands down and I'll always admire his style. It did not take long before he was appointed chief constable of Gwent Police. I'll never forget that day and I cannot help putting myself in TG's shoes when he is derided on chatrooms. He acquits himself very well imho - looks very honest but always has to me.
A techie with the gift of the gab is very rare from my experience.
Thanks MM if I needed reassurance we are in good hands (both men) then that is now more abundant than our gas flows.
Brad - 100%
MM are you being serious or on a wind-up?
I'd have expected you to state that you were given permission to repeat the content of said discussion and without that it looks like a joke, as did your post "Quote me" which I definitely thought was tongue in cheek.
To add some colour to Tony Gilby's ProActive interview, I had a wide ranging chat with the man himself on Thursday.
I put it to him that the Botswana Power Corporation is ultimately under Ministerial control, and by which Minister Moagi has the authority to essentially order the BPC to deliver on the PPA. TG replied that that is effectively what has just happened and the BPC have been told to get a PPA signed when they next meet, if not the full PPA then an interim agreement. The recent letter was requested by TLOU and intended for public consumption and the Minister's Permament Secretary obliged. I expressed some surprise to which TG said that the Minister and Ministry were and are completely behind the project. TG added that when the Minister was first appointed Gabaake Gabaake had a meeting in which the Minister gave his support and said he would help unlock any issues. They exchanged numbers and the Minister gave his number. Unprompted, the next day GG got a message from the Minister saying that he meant what he said and that GG was to call him whenever.
So I said to TG that we really do have the Minister`s support, to which TG replied, '(MinorMiner), The Minister is as supportive as we could ever hope to ask for'.
https://www.proactiveinvestors.co.uk/companies/news/913841/tlou-energy-s-tony-gilby-confident-as-it-advances-towards-ppa-negotiations-913841.html
'Another same old same old interview.'
Exactly JTD. Groundhog day. Exactly why that is the case is easy though. Dewatering, dewatering, dewatering. It's slow, much slower than anticipated and when the CEO say's slow he really means slow. Nothings happened to say we have nailed specific success criteria, so for now until we confirm flow rates or a PPA (interim or full) or finance any infill interviews can only be repeats of the same message.
Who or what ultimately caused the delay though is down to individual interpretation. We went for six wells (four horizontal plus two vertical = two production pods) and I wonder whether in hindsight and on balance (cost of wells) more investment in more wells earlier would have given us greater economical value today. However, how do you quantify how many initial wells you will need when a) you are the pathfinder for dewatering a CBM project in Botswana, and b) you are attempting to deliver value for money by not over committing on paying for wells that were not needed at the time. Very difficult call to make as our present situation with dewatering would suggest.
Some permeability though, it seems awesome.
Another same old same old interview. The bod should now do the honourable thing and stop bleeding us dry with their salaries. In the real world some of the bod (particularly that twat CC) would have been fired a long time ago but this is AIM and tlou like many other companies appears just to be a lifestyle company. TG has basically given no indication of anything on that useless podcast; financing appears a long way away, the interim PPA will most probably drag on and the actually PPA who knows. De-watering won’t finish this year most probably so what we got to look forward to (apart from another BS RNS that will see the share price head south). Very dire times here. Feel for those who have been stung especially ByTheSea. GL my friend but would be sad to hear of ur retirement going up in smoke bcoz of these idiots.
P.s all this talk of solar adds to my view this bod are clueless. How do they think they are going to do that when they can’t even get CBM (which is what they are experts in apparently) off the ground.
Listened to all 15 minutes twice.
I love the way Andrew Scott aaks every question you'd hope he would, all answered with an assurity that is plausible.
So TG is in Botswana - that gives a hint there are lots of talks to be had.
It sounds like the water is being drawn from a sizeable distance away from the vertical well , and beyond. This confirms the belief that the dewatering of future wells will be more straightforward.
I found a nice article earlier. It contradicts claims that other companies are advanced of us because of the number of vertical wells they are drilling. It is worth a read unless you are a proponent of the 'TG doesn't know what he is doing' brigade. He is , yet again, supported by the evidence from elsewhere.
Yer tis ...https://www.investopedia.com/terms/v/verticalwell.asp
project financing will include money for extra development wells
dewatering not affecting financing talks