Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Personally I'm derisking a bit atm as I am now in profit after a very rocky couple of years. By no mean all out but not risking as much as I have been.
I still think PMO wouldn't have forked out so much money for a drill that didn't have a decent potential to make them money.
Good luck everone.
Is it in the long term interests of share holder that the company is just chasing subsidies?
Why would PMO want to gift money to 88e? They did give 500,000 for exclusivity, no-one talks about that!
Also, if the dril is successful, PMO will take over the operational cost, but we will keep the 30% income, so I assume the only cost associated with the production, would be the lease.
Sorry $23,000,000
The well will be drilled and tested in Q1 2020 with rig options having already been identified and contracting negotiations underway. On successful completion of the work programme, Premier will have the option to assume operatorship.
If they are operating this the are we getting 30% of the profits from it without the operator costs?
Area A contains the Malguk-1 discovery drilled by BP in 1991. This well discovered but never tested 251 feet of light oil pay in turbidite sands in the Torok formation, within the recently emerging Brookian play. Premier estimates an accumulation of more than 1 billion barrels of oil in place, based on the original well data and its evaluation of the existing 3D dataset.
Really not sure, Premier Oil "Under the terms of the SPA, Premier will pay the full costs of an appraisal well up to a total of US$23 million to test the reservoir deliverability of the Malguk-1 discovery. The well will be drilled and tested in Q1 2020 with rig options having already been identified and contracting negotiations underway. On successful completion of the work programme, Premier will have the option to assume operatorship."
Project Icewine:
o Formal farm-out process deferred to 2H 2019 – soft farm-out underway with continued
third party interest.
A more detailed update on the conventional farm-out will be provided in early August.
Unconventional:
The forward program consists of accessing material from regional wells in order to conduct
additional FIB-SEM analysis to confirm improved effective porosity and connectivity.
Consequently, the formal farm-out process will be deferred until 2H 2019 to allow for this work
to be completed. The Joint Venture continues to field unsolicited third party interest in the HRZ
shale play and an informal farm-out process is underway.