Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Another good report!! http://fincake.ru/stock/reviews/127678/download/126458
Going on with this.. Sitting at the same price with no movement for ages now but still rated as a strong buy?
Correction - On a second reading of the RNS, I see he hasn't sold out at all. Good for him.
Not as delighted, I bet, as he was to cash-in a half-million quids worth of free shares.
Mikhail Ivanov, Chief Executive of Volga Gas commented: "We are delighted to have been able to raise this debt finance, the first such facility entered into by the Group, and acknowledge the support shown to the Group by Raiffeisen Bank."
New US$10 million debt facility Volga Gas plc ("Volga Gas" or the "Group"), the oil and gas exploration and production group operating in the Volga Region of Russia, is pleased to announce that it has signed a US$10 million multi-currency debt facility from ZAO Raiffeisen Bank. The funds are to be used to support the Group's capital expenditure programme in 2012. The facility has a term of two years and is an amortizing loan. The loan may be drawn in US dollars, Euros or Russian Roubles and the interest rates applicable are respectively US dollar LIBOR plus 6.5%, Euro LIBOR plus 5.4% or Mosprime plus 5.3%.
http://www.investegate.co.uk/Article.aspx?id=201203270701171049A
Were RNS'd on 29th March last year so expect around the same this year. Should read very positive based on the already stated increase in BOPD in previous RNS's. We should see profits rise in line with the rise in BOPD, making allowances for the paying back of short term loans of course.
Mikhail Ivanov, Chief Executive of Volga Gas commented: "It is disappointing not to have increased production from the Uzenskoye field and to have a possible reserve downgrade on that field. Nevertheless, Volga Gas has already recouped all of its investment in the Uzenskoye field and it remains a highly profitable asset for the Company. The Uzenskoye field currently represents just 18% of the Group's reserves. "We have continuing production from the Dobrinskoye gas/condensate field and anticipate commencement of full time production from our larger Vostochny Makarovskoye gas/condensate field in Q3 2012. The combination of these two fields will substantially reduce the significance of the Uzenskoye field to our future revenues and profits."
A sidetrack on the Uzenskoye #9 well on the flank of the Uzenskoye oil field, was drilled and successfully intersected a section of the main Aptian reservoir updip from the original bottom hole location. However, when put on production, the well flowed water, indicating that the oil:water contact in the field has migrated to a higher elevation than had been anticipated on the basis of cumulative production of oil from the field. This higher than anticipated oil:water contact is likely to have implications for the remaining recoverable reserves on the Uzenskoye field which will need to be reassessed with the new data derived from this well.
http://www.investegate.co.uk/article.aspx?id=201203131300012618Z&fe=1
Strange that, RNS notice was 1pm yet the shares tumbled at 12.50. is there a faster news service than investegate anywhere?
Thanks mate ill hold on a while longer in that case
News of a recent drill is imminent, broker Target 262p, yearly results end March should be good, VM field on line later in the year, safe bet for my money!! I would read the last few RNS and visit the website
About selling these to invest in something thats moving a bit faster. Just wondering if anyone knows of any upcoming RNS or plans for the company.. its been slowly rising for a while now but i dont know how much longer it will last before just leveling off?
This share keeps under the radar, but the prospects are so good. Been revisiting my research and can only see upward pressure on the SP. Okay they may get a duster on the wells being drilled but it will only be a small dent in % terms. Compare that with the upside from the VM field getting connected .....
By British Bulls if anyone uses their information!! 2012 will be a good year for VGAS, several drills planned, production from the VM field should seriously increase revenue, all good!!
Good to see some upward movement. Are you still in Lowie100? as it looks like 2012 is going to be very good for us that have VGAS shares.
After over a year on the watchlist I've just bought 3.5k shares here. QE3 just announced with bank of England should see a bull run in the markets if it has the desired effects. Over a fortnight ago this company announced an increase of 120% in boepd in H1 2011 from H1 2010. Revenue up 140% from H1 2010. Turned it's first profit in H1 this year. Profit $3 mil US Has $14 mil US in cash. All this and it's at it's 52 week low and a Market cap of just £57.2 mil. Anyway now I've put my money where my mouth is. GLA hoping for a push toward £1 soon.
Thanks mate
Just had an alert text from TDW mid price 72.5p which is a new 52 week low here. Got to be a strong buy now. Still watching from the sidelines but getting ever closer to taking the plunge.
I think its general Market sentiment, I don't hold here but watching from the sidelines. When sentiment returns this with be above £1. Remember rises happen quicker than drops. It'll be back above £1 before you've even noticed. This is lowest I've seen it. All IMO & GL
What's prompted this slow drop
Mikhail Ivanov, Chief Executive of Volga Gas commented: "We are delighted to have established a further meaningful exploration target within our portfolio which can be tested at low cost. This prospect will also fulfill a licence obligation which will enable Volga Gas to maintain the material deep sub-salt potential which remains evident in the licence area. The costs of this year's exploration activity will be comfortably covered by operating cash flow which in recent months has been in excess of $2 million per month."