Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Cbaron,
Perhaps you need to learn about buying/ selling of oilfields instead of trying cheap humour ?
Oil field sales are based on Oil in Place, ie proven reserves, that is what we have to do, proove up this drill, it is glaringly obvious we do not have the money to build the infrastructure to bring the Oil to market ourselves, so what happens ?
We sell it, and guess what , as part of those negotiations the buyer will take into account how much it will cost them to get it to market, and offer us a price based on the proven resources.
The higher the current price of oil the better , but it is usual the average cost over a number of years will govern the buy price, figures have ranged over the years of $3-$10 per barrel in ground, the buyer covers the cost of production so we as the seller do not have to worry about future development cost !
If we proove 600m barrels of oil even at $3 we would get $1.8Bn if we just sold Peregrine, enough to use to find and proove up Oil in our other areas and give out special dividend to all share holders.
BB32
Jezzac,
The whole philosphy of 88e was to find oil, build up a Company and sell to highest bidder, if you think about it, that is exactly what we are doing.
We will never produce in Alaska, think we will have sold out long before planning for production
BB32
Recent comments re pipeline to Willow made me think,
Just a few thoughts to put into perspective
$5.3m per mile to build a 30 in pipeline in Alaska( May 2021 costs per API )
90 Miles Peregrine to Willow so approx $480.6m to build add a bit inflation etc round it up a bit and call it $600m
Seems expensive but -
ConocoPhillips Alaskan Production ( just Alaska ! ) 198,000 BOE Daily last year
say $40 to $50 to produce
currently they are earning $60+ per barrel profit ! or $11.88m per day
So it would only cost COP approx 50 days profit to build ! ( they of course would spread the cost out over a number of years in their books though )
Interesting is it not ? Who says it's not feasible?
BB32
Mister E
This is just what some of the shrewdies in Aus have been crying out for in the last few years,
Curtesy of Bill Gates Hotcopper
https://hotcopper.com.au/threads/ann-acquisition-of-texas-oil-and-gas-production-assets.6593411/page-6?direction=previous
Well done Biden ! ( by starting the greenhouse issue etc the Banks have all signed up to not giving loans to OIL Companies - so Cash is King ! hence the opportunity to buy in.
Just look at buying possibilities of ConocoPhillips now , with the revenue they are producing with Oil price as it is.
We are on their doorstep at Merlin and Umiat, surely with a fair wind they won't want us as neighbours they could well consider buying part or all ?
BB32
Don't think Gideons will get his 0.0185 buy in !!! :)
Could be a lot of Shorters in Australia getting burn't today
Bring on the SP rise in Aus, with us starting nicely up in the morning...
GLA
BB32
https://hotcopper.com.au/threads/ann-presentation-texas-oil-and-gas-production-assets.6593408/
BB32
Just quick reading , looks good-
https://hotcopper.com.au/threads/ann-investor-update-february-2022.6581627/
BB32
Thanks for immediate update Mister E
Must look into that website,
So Placement oversubscribed - not a shock at all !!
Interest will be how ASX responds - first bids and offers to sell look interesting 7c to buy and 4c to sell
Think demand will be high knowing how this has played out in last couple of drills, and we should soon be going higher than where we were last week
GLA
BB32
https://hotcopper.com.au/threads/ann-placement-to-raise-a-32m.6581609/
bb32
Gideons,
Not in the habit of ramping,
Look at past cash raises, only been done when Company know they would be oversubscribed
several posts on Hot Copper are positive on this
Curtesy of ARTIK 1970 for example
https://hotcopper.com.au/threads/news-88e-88-energy-ltd-proposes-placing-to-raise-up-to-a-30-0-mln.6577784/page-33?post_id=59535393
BB32
7.57 in Sydney, no ASX Announcement yet, presume we will get one soon as it seems cash raise has been heavily over subscribed.
Wish we got the opportunity for 30% discount.
I Want to know more about the tie in the Permian Basin, could be very promising
GLA
BB32
RFARFA,
Lot longer than 12 years ...
ConocoPhillips Gas Terminal at Theddlethorpe flowed over 1TCF of gas from its Viking Field over the course of 45 years before it was closed down in 2017
Been Busy working again, but watching and not posting, getting to the interesting part of the Year
Good Luck all
BB32
Don't understand why knickers are getting twisted, people need to keep up-
Cleansing Notice - Final Directors Interest Notice 10/05/21
https://clients3.weblink.com.au/pdf/88E/02373276.pdf
DW received 77,640,000 Performance Rights (subject to vesting conditions)
So somewhere between 10th May and 21st May he bought extra 40m shares probably at a cost of 0.0129p possibly £516,000
I would think his credit is good in world of finance !
Good luck to him, he's endured a great deal of c--p from some, personally believe he has made this Company, shame he didn't quite land the big one because we couldn't flow test, but I really believe it's coming....
Good Luck to Dave and everyone else
BB32
Rfarfa,
Indeed 1Tcf of gas is quite a lot of gas to put it into context - comments from ConocoPhillips Southern North Sea pages -
In January 2016, production from the Viking fields ceased after a 43-year field life. Gas was first discovered in the Viking A reservoir in 1965 and production commenced
in July 1972. A total of 24 exploration and appraisal wells and 58 development wells were drilled in the Viking elds, which produced 3.26 trillion cubic feet of gas over 43 years. At its peak in 1977, Viking contributed 10% of the total U.K. gas production.
BB32
Mickey - Re yours 14.17
"I have since built a massive "BAA" and restaurant in a log cabin in my garden for lots of parties"
I think this lambing season is having too much of an effect on you!
I trust you are very well, can't wait for the next few beers.
All the best
BB32
Curtesy of Sparkz from ASX Hot Copper website - excellent piece -
https://hotcopper.com.au/threads/heres-the-announcement.5980869/page-15?post_id=52110669#.YGFwZFHPzGY
Well worth reading..
BB32