Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Morning all,
Happy to take a small opening position in FAR at these prices. I know a little bit about battery technology and am involved in Desten.com which is a joint project with Piech - less than 5 minutes to recharge an EV for 500 km.
https://www.bloomberg.com/news/articles/2020-10-03/vw-s-former-ceo-joins-piech-s-electric-car-startup-welt-reports
I see potential in FAR opening position two trades 8.37.51 211,119 shares at 9.47p and 8.42.07 88,881 at 9.45 pence.
300,000 at a decent price.
I think this has legs. I hope a few friends may follow me in here, they will thank me. Again?
GLA
This is my valuation from July, which I ran past a respected oil analyst, who didn't dispute when I ran it past him- we know each other reasonably well.
THIS WAS JUST FOR CASCADURA<,WITH CHINOOK IT HAS DOUBLED!
All imho, and dyor, but I think that it underpins a current valuation of at least £3. Oil prices are up since then as well.
Dear x
TXP is due to reveal the magnitude of the Cascadura reserves this week, and I ran a pencil over the numbers, which appear to be astounding, but the news hasn't dropped yet, so it is all speculation.
I would appreciate your thoughts on the following. Please feel free to get your red pen out if I am way off-kilter, but it seems like a reasonable stab at a 'Wet finger in the wind' method of valuation.
Per TXP RNS
Stage two flow testing supports an initial production range between 7,750 and 9,700 barrels of oil equivalent per day ("boe/d"), including an estimated 40 to 50 million cubic feet per day ("MMcf/d") of natural gas and an estimated 1,100 to 1,400 barrels per day ("bbls/d") of natural gas liquids, significantly exceeding pre-drill expectations.
The second stage of production testing commenced on March 8, 2020 and achieved a peak flowback rate of 5,760 boe/d, including 29.4 MMcf/d of natural gas and 865 bbls/d of natural gas liquids.
We are going to have two producing wells here, with potential for a deeper find of more oil beneath the existing discovery.
Rather than just doubling the figures, I am going for 150% of one well to err on the safe side, even though max drawdown had negligible pressure drop.
Gas at say 45 Mmcf/day x 1.5 = 67.5 Mmcf/d at say $3,000 per Mm = $202,500 per day no SPT (I understand that $3,000 is the current price in T&T).
Oil condensates 1,250 bpd x 1.5 = 1,875 bopd at say $35 (we may get a premium) = $65,625 per day
Total = $268,125 per day with low prices. We get 80% = $214,500 per day, in a low price environment.
Let's knock off $14,500 per day production costs so $200,000 per day x 365 = $73,000,000 per annum.
No, let's be really conservative and call it $65 million per annum from Cascadura.
This has to be worth a minimum of 5 x which equals $325 million, and if we hit a bigger one with Chinook then 3 x that again.
That is what is known as a 'Wall of cash'. $325,000,000 divided by 183 million shares = $1.8 usd per share = £1.50 per share.
Please feel free to refute my numbers, these are for discussion purposes, and only for Cascadura.
Add on value of existing wells plus Coho say 30 pence per share.
It looks pretty promising.
2 to 3 TCF and unbounded
Per TXP RNS after Cacadura
Stage two flow testing supports an initial production range between 7,750 and 9,700 barrels of oil equivalent per day ("boe/d"), including an estimated 40 to 50 million cubic feet per day ("MMcf/d") of natural gas and an estimated 1,100 to 1,400 barrels per day ("bbls/d") of natural gas liquids, significantly exceeding pre-drill expectations.
The second stage of production testing commenced on March 8, 2020 and achieved a peak flowback rate of 5,760 boe/d, including 29.4 MMcf/d of natural gas and 865 bbls/d of natural gas liquids.
We are going to have two producing wells here, with potential for a deeper find of more oil beneath the existing discovery.
Rather than just doubling the figures, I am going for 150% of one well to err on the safe side, even though max drawdown had negligible pressure drop.
Gas at say 45 Mmcf/day x 1.5 = 67.5 Mmcf/d at say $3,000 per Mm = $202,500 per day no SPT (I understand that $3,000 is the current price in T&T).
Oil condensates 1,250 bpd x 1.5 = 1,875 bopd at say $35 (we may get a premium) = $65,625 per day
Total = $268,125 per day with low prices. We get 80% = $214,500 per day, in a low price environment.
Let's knock off $14,500 per day production costs so $200,000 per day x 365 = $73,000,000 per annum.
No, let's be really conservative and call it $65 million per annum from Cascadura.
This has to be worth a minimum of 5 x which equals $325 million, and if we hit a bigger one with Chinook then 3 x that again.
That is what is known as a 'Wall of cash'. $325,000,000 divided by 183 million shares = $1.8 usd per share = £1.50 per share.
I will buy you ten back.
On't bus.
Top of the Risers board next, and quite rightly so!
Welcome to all new investors, the party hasn't started yet.
Plenty of time to get on board.
£1 paid
Price monitoring extension 1 and 2
Will now pop out at over £1
95 pence paid already.
Nailed it.
until at least 11 am tomorrow.
North may derisk some at North of £1, but increase price target to £1.25 in no time.
Opening spread looks like 90 to 95 pence.
Straight in to auction and pop out at 95 pence, imho.
22 minutes to wait........
Well, let's be conservative, 95 pence to £1.
Peak today at £1.25?
On to £1.35 tomorrow.
Chinook-1 Drilling
The Chinook-1 exploration well was spud on August 13, 2020 using Well Services Petroleum Ltd. Rig #80. The well was designed to explore the potential for a thick section of Herrera sandstones in the SW-NE trending Chinook anticline, which is located approximately 1.5 kilometres south of the Cascadura anticline and our associated gas discovery. The primary target of the Chinook well was the Gr7a overthrust Herrera sands near the crest of the structure at an approximate measured depth of 8,100 feet, which is capped by thick Karamat shales. The well was intended to further evaluate a secondary target of stacked or repeated intervals of Gr7bc intermediate Herrera sands from approximately 8,800 feet to a planned total depth of 9,870 feet. The well was drilled to a total measured depth of 10,039 feet (true vertical depth of 9,776 feet) on October 11, 2020 and was extended past its originally planned depth due to hydrocarbon shows at 9,820 feet.
Despite being spud a mere 1.5 kilometres south of Cascadura, the Chinook anticline is separate from, and distinctly different than the Cascadura anticline to the north. The structural mapping on the Herrera interval reveals that Cascadura and Chinook are two anticlines converging toward each other, with Cascadura being a tighter but heavily stacked fold, thereby making it a taller structure, while Chinook is interpreted to be a simpler, broader fold.
The Chinook-1 well is the third of a four well exploration commitment under Touchstone's Ortoire Exploration and Production Licence. The Company has an 80% working interest in the licence but is responsible for 100% of the drilling, completion and testing costs associated with the initial four exploration wells. Heritage Petroleum Company Limited holds the remaining 20% working interest. Touchstone has no reserves associated with the Chinook-1 well included in the Company's December 31, 2019 independent reserves report.
Further testing is required to determine the economic viability and potential of the well, and the Company plans to commence completion and production testing operations during the first quarter of 2021.
James Shipka, Chief Operating Officer, stated:
"We continue to see the significant and growing potential of the Ortoire exploration block with Chinook-1 encountering over 2,000 feet of turbidite deposits, nearly 1,500 feet of developed sands and a total of over 600 feet of natural gas pay. At a depth of 10,039 feet, Chinook-1 is one of the deepest wells drilled onshore Trinidad in almost a decade and verifies the evolution of our drilling practices since commencing our exploration program. For Chinook-1, we employed a synthetic oil-based mud system that assisted in drilling while reducing formation damage and incorporated a top drive onto the drilling rig to aid in drilling to greater depths. We intend to replicate these drilling practices moving forward given Chinook-1 demonstrated our ability to successfully conduct complex operations in a safe manner while strictly adhering to restrictions imposed during the ongoing COVID 19 pandemic."
"The results from the Chinook well exceeded pre-drill expectations. The successful exploration well further confirms the geological model developed by our team and is expected to provide significant development opportunities in the Chinook area. With both the shallow and deepest zones being new to the area, it also identified future exploration opportunities. The Company's focus is now on the drilling of the Cascadura Deep exploration well, which will impact the timing of Chinook-1 production testing operations to ensure the safety of operations. I would like to thank our contractors, suppliers, government officials and our staff who have worked together to keep us moving forward during these challenging times."
FOR TAKE OFFFFFF YEEEEEEEEEEEEEEEEEHAAAAAAAAAAAAHHHHHHHHHHHHHH
for RNS???
Busy day in London Town on another front today.
It was so quiet, unbelievable.
Met a couple of excellent movers n shakers in 'The Robbers' just off Belgrave Square, which is a Fuller's Pub with an excellent chef and its real name is The Star Tavern, but known as The Robbers, because it was where The Great Train Robbery was planned. We sat at the same table, and planned a major deal, which is all completely above board, but I thought it would add a little frisson for when the book gets written.
Anyway, looks like you have had a good day looking after TXP, an even better day tomorrow, if Canada is anything to go by, which it usually is.
Looks to me like £1 by the end of the week, next week at the latest. Enfin.
GLA, I knew we would get there in the end.
£1.25 next stop, according to my somewhat inadequate charting skills.
We shall soon see.
Sleep well, we have a lot of partying to do shortly.
I LOVE the Trading View technicals
https://uk.tradingview.com/symbols/TSX-TXP/technicals/