Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Pduk, thee were approx 50 failed drills in Algeria before explores got there head around the geology and the country was nearly abandoned for hydrocarbon exploration. Sounds familiar??
Update tomorrow regarding the talks with italfluids, I doubt we will get it signed off but it would be Interesting to read between the lines i.e. very good progress is being made. Best of luck.
Ktf, as I have said many times that 8% return is unrealistic in a world of low / negative interest rates. They are now tied into the success of phase 1.
Med, we do have proven reserves, about 640 bcf gip C2, Chariot have just signed HOT with onee with about 1tcf off shore so we aren't a million miles away. I'm feeling rather relaxed about closing the deal.
Gas discovery at te2 circa 1969 and oil at sbk. No more wildcat high volume low cos, nice and steady is the way until we can build up the bank balance.
AE, as I have said before, in a world of covid and negative interest rates a 2.5% return on a guaranteed asset is worth the wait and the sooner this deal gets signed the sooner we are all back making money then go looking for more reserves.
Well spotted, my mistake but it's still a healthy cash flow, italfluids are responsible for running, maintenance etc, they don't get paid if the equipment can't deliver and we get paid from the gas buyer even if the trucks don't collect so s win win.
PS, all the best to your future investments but I believe the dark days are behind us now, I've stayed this long. For company valuation you need to look at similar businesses and PE ratios plus potential exploration upside. Net to sound for LNG alone is approx $22 million PA for 5 years.
So you have invested hard earned cash without doing your basic homework ?? You sound like me :-D 8/12p in 12 months if all goes to plan.
PS, I know you are negative about this share and who can blame you but let's be honest, all these investment banks, italfluids, sound, Onym, ogif etc aren't spending a small fortune to progress the contracts for it to fail. I'm sure part of the contract with the gas buyer releases early funds to sound, I can't fully remember the deal plus 600k euros from badile land sale should keep us ticking along until first gas deliveries.
Do people seriously think that after sound getting investment from a Moroccan investment bank they would then let the business go to some dodgy Italian investors and ogif lose their 22% of the business???
Pduk, don't be surprised if the banks providing liquidity for phase 1 aren't behind getting the bond sorted.
Take your dog for a good walk StMary, we need as much good luck as we can get.
Can someone email Graham and let him know the good news, probably busy cursing he's got to write an RNS tonight.
I bet there are some pished off investors who have been moaning and sold out this week.
My guess is 8/12 p this year based on phase 1 fundamentals only, now phase 2 plus exploration will get us over 20p.
Can someone email Graham or Sarah andd let them know that we know ????
This will probably force sound to release the RNS earlier than planned, saving it for Monday morning for the biggest impact along with bond issues being resolved. Anyone buying back in ??
Liquefied gas in Tendrara: for 25 million dollars, Italfluid will operate the site.
The announcement is now official. Italfluid Geoenergy will be in charge of the design, construction, commissioning, and the operation and maintenance of a liquefied natural gas (LNG) plant. The Italian company will work on behalf of the English group Sound Energy and will be supported by the Moroccan consulting firm Sinmarco.
$ 25 million: this is the amount of the investment that has been set for the construction and operation of a liquefied gas (LNG) production unit in Tendrara, in the province of Figuig.
The realization of this unit, learns Le360 from informed sources, was entrusted by the English group Sound Energy, holder of the exploitation permit of the Tendrara field, according to the Hydrocarbons Code, to the Italian company Italfluid.
According to sources contacted by the media, the consulting firm Sinmarco, headed by Ahmed Fouad El Filali, was chosen to support the realization of this project.
The project entrusted to the Italians will be financed by the American bank Exim Bank, the Italian Simest as well as other Moroccan banks.
As for the Sinmarco firm, it will have to provide legal, fiscal and financial assistance during the entire period of the realization of the project and the operation of the LNG production unit.
The duration of this project is planned to be 18 months and the operation of the gas production unit itself will be five years.
Not to waffle on, I think the deals (if they happen) will conclude simultaneously and can see a re-rate in the 8-10p range, Graham aluded to new broker notes and valuations in the last Q and A, deal permitting of course so selling up and then buying in will miss out on the big rise. I might change my mind next week and sell up.