Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The bird in the hand simply underpins the SP, the bird in the bush has a net about to be placed over it.
A funded 95% cos which is the start of multiple step changes for TXP.
1750mk1
Snide? How so?
Sorry in4 but I'm not entertaining the snide troll.
1750 - Dross is difficult to please - he couldn't stop himself brown nosing Paul Baay for his brilliant timing on the Ortoire Placing ( even though Paul's timing was hugely influenced by the looming MWO ) - now he's redirecting his tongue ( presumably change of trading position! - next he'll be telling you his posts are just to alert newbies!)
If you can keep Dross occupied over here it does the rest of the world a favour for a little while!
BTW good luck to all genuine supporters of this company!
PhotographerTLP
My point is that current production is TXP’s bird in the hand while Ortoire remains a bird in the bush. PB has admitted that the first Ortoire well is unlikely to be monetised until 2020 which means that for gauging cash flow and the likelihood of a placing to fund the second Ortoire well, the current production trajectory and the oil price are key. The current production trajectory is not great - when PB does eventually provide an update current production is unlikely to be much more than 2000bopd at best and it could conceivably be less than 2000bopd. The oil price speaks for itself.
We know the company has not shifted any focus... the focus has been firmly on Ortoire all year.
No need to feed the troll fellas.
To be fair Ross, yes the average production did drop due to the situation explained by PB, but even if the production was at 2,200 or even 2,500 bpd a day, the Ortoire project would still eclipse this. Any company the size of TXP, or even a fair bit larger, going after the 'potential' of Ortoire, would have that as its flagship project. Am I wrong?
Its only been a month since they announced the drop in production due to the 2 wells being off line. They will probably let us know current production at the same time as they announce the spud
Goodbody
That was Q1. More recently, the Company's April 2019 production averaged 1,789 bbls/d...
Sundayroast
It is just as well that the Company has managed to shift the focus from current production to Ortoire...
Ross, TXP's focus is now on Oritore.
PB has an interview on the 20th so you only need to wait 2 days to find out about current production.
Dross - peeps on here should take comfort from your whining. - last time you were bullish was AMER and they hit a duster!
· Achieved quarterly average crude oil production of 2,121 barrels per day ("bbls/d"), representing increases of 37% and 15% from the first quarter of 2018 and the fourth quarter of 2018, respectively. · Realized $11,015,000 in petroleum sales, a 34% increase from the prior year first quarter. · Generated an operating netback of $29.35 per barrel, an 11% increase relative to the $26.52 per barrel recorded in the prior year comparative quarter. https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/TXP/14072864.html
The day before the 2018 AGM we had this:
The Company delivered May 2018 average production of 1,728 barrels per day ("bbls/d") and the current field estimated production is approximately 1,821 bbls/d (seven-day average ending June 6, 2018). Additional volumes have been realized from three of the five wells drilled in 2018 with the final two wells expected to come on stream in the next 30 days.
No such luck with the 2019 AGM. Presumably current production is more than 1,821 bbls/d. Or at least a little bit more, anyway. Whatever happened to letting the numbers do the talking?