Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Long auction, big recovery due here!
Maybe we'll find out if it is perched water after all!
Corrupt bod and shorts.
Buys coming in, good news?
So as it stands if the proposal goes ahead final MCAP would be around 260m?
Hmmm very interesting. Thanks for the info.
Sorry wrong board,
Lancaster is currently producing 11,600 bopd from the P6 well alone. That’s around £800,000 a DAY! With current oil prices.
Whats to stop the likes of CA buying out Hur to prevent this debt for equity swap? Is that even possible in the time frame?
At current production and oil prices they are generating around 750k a day!
Add to that $127m in cash ~ £91m - wowsers
50m MCAP??????
A clear bargain imo.
Top up time for me
Gla
Biggest bargain out there at this level.
Press Release
7 April 2021
USUSD700 MILLION FACILITY EXTENSIONS AGREED
Petrofac ("Petrofac" or the "Group") is pleased to announce that it has extended USUSD700 million of its banking
facilities, at its request, with the unanimous support of lenders. These extensions comprise a USUSD610 million
extension of its existing revolving credit facility to 2 June 2022, with an option to extend for a further six months
(1), and a USUSD90 million extension of its bilateral term facility with Abu Dhabi Commercial Bank to 1 April 2022 (2).
The increase in margin on these facilities reflects market conditions and remains competitive. Existing financial
covenants remain unchanged and will be tested on a quarterly basis. In line with our liquidity policy, the extended
revolving credit facility includes a minimum liquidity covenant of USUSD100 million. The revised facilities of USUSD700
million represent a reduction in facility size of USUSD450 million, in line with business requirements and reflecting the
Group's transition to a capital light business model. Both facilities were due to be repaid or prepaid on or before 2
June 2021.
The extension of these facilities, together with the issue of GBP300 million in commercial paper under the Covid
Corporate Financing Facility in February 2021, preserve the Group's strong liquidity position which was USUSD1.3 billion
at 31 March (before the reduction in facility size announced in this release). The Group expects to report net debt of
USUSD116 million as at 31 December 2020, better than expectations, and continues to target eliminating net debt as market
conditions and contract awards recover.
NOTES
1. The option to extend the revolving credit facility to 2 December 2022 is subject to the approval of lenders and is
up to a maximum of USUSD550 million.
2. The Abu Dhabi Commercial Bank facility included a prepayment obligation on 31 March 2021.
ENDS
None stop selling over the last few days. Who/what is absorbing these? A large buy order?
Cheers Laser, how many days between offloads will that be?
Now $69! $70-$75 looking likely soon
$69 - hur making a killing here, this should be 10-12p not near all time lows!!
The BOD have been well and truly rumbled here!
It would be great to see CA start buying more, that would certainly put the pressure. A few TR-1s will do nicely.
This is going to get very interesting indeed, dump this incompetent BOD and get someone in who has a real interest in developing HUR with their own 'Skin in the game'
Just what are the BOD playing at?
*reduction