Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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No sensible poster would reveal anything that could identify them.
But my enthusiasm for O&G E&P allows me to understand that outcomes range from certain (extremely rarely though you wouldn’t know that from UKOG utterings) through probable and possible to unlikely, even very unlikely.
So of course it's possible the rig could arrive before a placing, but it's unlikely.
Same goes for Basur-3 - it is probably going to be successful, but that success, based on the producing lookalike, is likely to be in the range 60bopd to 500bopd in initial production - probably around 250bopd, but will probably decline rapidly to less than half the initial production rate.
Explaining this uncertainty in exploration and expected production is what UKOG should be doing - and is lacking in interviews and RNS about Turkey, and was, and still is, absent in interviews and RNS about the Weald.
I have an opinion about your likes and dislikes, that is plainly not the same as deciding them for you.
The CLN announced 15 November 2017 was for:- ‘the completion of the BB-1z flow tests, the forthcoming production testing and appraisal drilling programme at Horse Hill and the drilling and testing of the Holmwood exploration prospect
Closing SP 14 November 4.996p (yes nearly 5p)
Closing SP 15 November 4.45p
But of course the steady drip of the CLN conversions and poor BB announcements had a longer term impact resulting in a SP in spring 2018 under 2p.
There were 2 then placings just before the ewt commenced, in all likelihood they held the SP back,
The first placing was on 15 June 2018 at 07:00. The price on 13th June was about a penny. The price had risen on 14th June to close at 1.5p or so, on 15th June the SP dropped to 1.125p.
The market assumed the fund raising was over but on Monday 2 July a further fundraise was announced, just before COB. Closing price 2 July 2018 2.3p, by Friday July 6 closing price was 1.9p - 17% lower.
So the evidence is clear that cash raising drops the SP.
Not sure what you are rambling on about the 8 billion share placing as you posted earlier:-‘A 8 billion share placing at 3p would give the company £240 million in working capital think on?’
HH1AN2,
whatever it is (a truck, too small for a viewing platform) it's not on the concrete - funny no one mentioned the empty site last Sunday.
Oh penguins
I do like a good chuckle so thank you for you hugely amusing reply, it made my day!
Just for clarification being short when the share price rises is not the same as shorting a share the difference may be settle but the exposure may not be & I even believe I saw a concession in one of your posts that it may be possible that the drilling may start without a placing taking place. ( I am sure that you will correct me if I was wrong )
You seem to me to like to be able to decide from my posts for me who I like & dislike.
What you seem to fail to understand is that many posts & opinions are valid & am quite capable of making my own decisions. Even if I do not agree with a post it does not mean it is not a fair point of view in a discussion on a chat board where people buy & sell shares based on there individual point of view at a certain point in time.
The placing example of £240 million used also seems to of escaped you as had I used the example of 8 billion shares at 4.70p which 88e reached the figure would have been £376 million but could be a lower amount of shares or at many different prices.
I note your comments on 88e share price drop & indeed find it very ironic that as usual have you gone from your negative perspective on the potential outcome of the drill which can only be a prejudgment.
Would you like to speculate the outcome in the success case?
How do you think that the market would perceive UKOG's future with this sort of funding position going into its future prospects just like happened when it was fully funded before the HH EWT?
Penguin, oh, and i have just given my opinion in my answers to Cynderliar 's quiz....let the drill do the talking
Penguin, you seem to be getting paranoid, and desperate.....i might ask why are you supporting a proven liar and persistant agitator, and who now seems to bend the facts more than you....you're going to have to work harder to get your number 1 slot back.....th2 loves winding up the trolls.....happy days
I know it might be exciting to be backed up by ozzy (no opinion) 52 and Troll (SP that is never achieved) hunter - but rejoicing in someone else losing money - even though shorting UKOG is, as I understand it, not possible - is particularly unpleasant.
The posters you seem to dislike have in the main been more accurate in their assessment of UKOG than you and those you seem to admire - except of course ozzy who has failed to give any idea of expected outcomes because it hasn't happened yet, so why he is supportive of your claim of UKOG raising £240million by a placing of 8 billion shares at 3p I'm not sure, especially as UKOG are obliged to sell some to the pi.
Whilst past performance in UKOG's case has so far been a very good indicator of current performance and seeing no change probably means the future as well, the performance of other company's shares is definitely no indicator of what might happen here - though I note that 88E's SP dropped very quickly from around 4p, which held for only a few days, to much less than 2p in a day and is now slowly subsiding towards 1p and possibly beyond.
That's more important to remember than the brief high, but of no consequence to lth who hold through thin and thin.