Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
For all potential newcomers:
- $10mil fundraise done in July at 3.5p, now trading at 2.7p (almost 30% discount)
- Mcap of £24mil (£7.5mil cash) with 194 MMbo (33MMbo+ recoverable) discovered in 2019, discovery well floated 800 bopd
- Awarded Exploitation license this year, production planned in the summer of next year with three wells, all fully funded with processing facilities nearby
- SP historically tends to trend higher in Q1 (drilling season starts around May in Mongolia)
- Much more appraisal potential on the block XX, where Heron was discovered with shallow low-cost wells
- Upcoming news: offtake agreements, rig & equipment contracts, potential JV, start of drilling campaign
Have a look through the power point presentation (on the website) and video presentations (Youtube) and do your own research, I think it’s definitely worth half an hour of your time!
It’s crazy that Ganfeng really got BCN this cheap but what’s done is done, if you are looking for some new hold/trade check out MATD - just a few main points why I think it’s a great 6-month trade opportunity:
-$10mil fundraise done in July at 3.5p, now trading at 2.6p (almost 40% discount)
-Mcap of £24mil (£7.5mil cash) with 194 MMbo (33MMbo+ recoverable) discovered in 2019, discovery well floated 800 bopd
-Awarded Exploitation license this year, production planned in the summer of next year with three wells, all fully funded with processing facilities nearby
-SP historically tends to trend higher in Q1 (drilling season starts around May in Mongolia)
-Much more appraisal potential on the block XX, where Heron was discovered with shallow low-cost wells
-Upcoming news: offtake agreements, rig & equipment contracts, potential JV, start of drilling campaign
-For traders: There is also a gap between 3.5-5p:)
Have a look through the power point presentation (on the website) and video presentations (Youtube) and do your own research, I think it’s definitely worth half an hour of your time. Have a good day!
I think there are new slides in corporate presentation (slide 9), interesting info:
Heron 1 Reservoir Modelling Results
• Sector modelling by industry specialist identified well stimulation
using properly designed fracks and through managed water
injection could improve recovery factor to 40%
Fishbone Completions
• Jetted or drilled 12m long needles across the entire reservoir
replaces conventional completions
• Improvements in flow rate up to 300%
• Developed for low permeability North Sea chalk, now deploying
globally with recent trials in China
• Initial modelling indicates suitability for Heron reservoir
https://www.petromatadgroup.com/wp-content/uploads/2021/08/Corporate-Presentation-05_08_21-Petro-Matad.pdf
Russel & Aim both, bring on Jan!!
https://www.lse.co.uk/news/live-markets-small-caps-ready-to-demand-some-attention-again--2i28ywd5wutri7u.html
Well we will have to see about the flow rate, either way it was one of the best in the region and Petrochina has thousands of barrels/day field just across the border with lower rates so it’s definitely feasible, there is also big exploration potential within this block with appraisal wells, we are 25% below the placing price and were 9p before the funding… this is good speculation potential, all you need is patience, if we won’t go up Q1 than perhaps the negative posters are right but we will just have to wait and see…I’m convinced we will be 5p minimum before the drill, especially with the gap 3.7-5
I was thinking about the covid factor/risk and I think that the absolutely worst case scenario is drilling delayed to July/August but I very much doubt that the restrictions would be in place all year, so that puts me to ease
Well I’ve got mixed emotions about it too, after 3 months of radio silence we get update with no real progress:
-rig is progressing well, which is a relief but then the risk of not getting a rig is replaced by risk of covid delaying or cancelling next year’s operation
-3D not happening now, which is a shame but not vital
-JV doesn’t seem likely
- everything else is still in progress, I also wish they would drop the renewable bit, if they want to look more appealing just add blockchain to the name :D
With all this said I’m still staying put with all my position but it’s definitely not a risk free speculation and I’m not feelings more at ease after today’s update
Oil going up again and here is older article but pretty positive I think https://thediplomat.com/2021/07/mongolia-seizes-the-diplomatic-moment/
"“China will help Mongolia accelerate development to the best of its ability, and stands ready to strengthen cooperation with Mongolia in the fields of mining, energy, finance, agriculture, husbandry, and infrastructure construction,” Wang pledged. The two sides set a goal to increase bilateral trade volumes to $10 billion and “give priority” to starting “landmark projects” for the Belt and Road Initiative in Mongolia. Battsetseg and Wang also agreed to “accelerate the alignment of the Belt and Road Initiative with Mongolia’s Steppe Road Program.”"
Bring on some positive update!!!