Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Mera, it makes good business sense to have more than one supplier and there's still a market for phase 2 sound gas if it happens, you can get a few LNG stations set up quicker and cheaper than installing a 180 million dollar pipeline. I read that Algerian gas supplies will be dropping off in the future due to lack of investment, , time for Morocco to pick up the reins.
TP3, what was the point of that dig at me?? Bullying / belittlement?? Typical keyboard warrior, my email address is listed if you want to take this further. There were serious reasons behind JP leaving, I have no respect for how he ran the business in the end and he should be investigated for he wild claims he had made so I'm not defending him.
I don't know anything more than what I write on here or what is I'm the public domain.
davidatsound71@gmail.com
And I know the reason why JP left, can't stand the man but have been informed by a fellow investor what cracked off so can't divulge unfortunately.
Pduk, I'm sorry but your assessment of the company is incorrect, we do have means to get the gas out of the ground and to market, te6 and 7 are ready to go as production wells, ital fluids negotiating terms of full turnkey LNG services and a buyer lined up. I'm not saying this is 100% guaranteed but it's not a dead duck. Onym have 25% regardless, ogif are tied in as a shareholder so if we go bust they don't regain the asset if another company takes over.
No assets?? We own 47.5% of 2.5 billion dollars worth of gas. The gas purchaser and italfluids would of completed due diligence prior to entering talks so let's have a bit of optimism. JP ran due to no plan B and a angry mob of investors after him.
Morocco: Chariot signs an EPCI contract with Subsea Integration on Anchovy gas
Morocco: Chariot signs an EPCI contract with Subsea Integration on Anchovy gas
Date created: February 23, 2021 4:57 PM
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(Agence Ecofin) - After receiving last October, the support of the financial institution Africa Finance Corporation and an investment bank for the financing of its offshore Anchovy gas project in Morocco, Chariot has just taken a new step towards the commissioning of this flagship project.
British producer Chariot Oil & Gas signed an EPCI contract with Subsea Integration Alliance on February 22, relating to its Anchovy gas project, located off the coast of Morocco. The contract will consist of the execution of engineering, procurement, construction, installation and commissioning works. It will also cover upstream technical support, technical design work, operation and maintenance of Chariot production facilities.
In summary, the agreement will allow the arrival of the first gas of the Anchovies offshore project, in complete safety in order to maximize the return on investment. Subsea Integration Alliance is a global strategic association between Subsea 7 and OneSubsea.
“This collaboration agreement with the Subsea Integration Alliance confirms our view that the development of Anchovy is a high value project. We believe that 2021 will be an exciting year for the company, as we plan to start with our operational plans at Anchois and further improve our portfolio to include other business opportunities on the topic of energy transition ”, commented Adonis Pouroulis, Interim CEO of Chariot Oil & Gas.
In addition, the company also announced that it had obtained a new exploration license called Rissana Offshore in December 2020, thus expanding its footprint in the country.
Chariot Oil & Gas, which is the operator of the project, holds 75% of the shares of the offshore license Lixus and the National Office of Hydrocarbons and Mines (ONHYM) the remaining 25%. It should be noted that the Lixus license contains the discovery of Anchovy gas which is estimated at more than 1Tcf.
Didn't CIP return shares to their clients?? I see chariot have managed to secure finance to proceed with their 1 TCF offshore field development so I can't see any major issues in sound developing 0.65 TCF onshore.
WL, I feel a lot more comfortable with an engineer Graham in charge than the 2nd rate bean counter JP, he has no history in all of his AIM adventures of long term financial gain for investors. These deals dovetail in to the end of March and the money runs out when the bond is due in July, place your bets.
I doubt if any deal could be struck with ogif directly as all shareholders have to be treated equally and don't forget Mohammed is ex ogif, I'm not saying it's going to be easy but keeping sound on to develop tendrara is the quickest route to cash flow, te6 and 7 can go straight into production, basically plug and play with LNG kit but agree that any future exploration of tendrara will need bigger pockets if they want it doing in a sub 5 year time line. That's why I can't see phase 2 pipeline happening until we get a couple of tcfs under our belt. All I know is if I sell now the project will go ahead.
You are forgetting ogif is tied in as a shareholder and then there's Schlumberger who still own their percentage of the field, it's not that easy to drop us out of the equation and carry on without us. I'm hopeful or some sort of financial reward from this fiasco which JP dropped us in.
The question you have to ask is why would the gas purchaser and italfluids spend time and money to negotiate heads of terms for phase 1 if they thought it would be a complete waste of time?? He is getting his ducks in a row (sorry for the pun) to get either the bond holders on side or negotiate funding from another source, maybe ogif or another Moroccan financial entity to pay off Marco and his buddies.
Graham aluded to new broker valuation notes being issued soon, I assume this will happen once we get the deal with italfluid and the bond sorted. The tax issue will drag on for sometime and will probably result in much reduced bill or nothing to pay.
Dropped over 40% the last couple of days with huge dilution, you have been warned.
Med, we went from 5p to a quid on 2 field appraisal wells and a lot of bull s h it, once we get phase 1 LNG into production and we go for a low risk drilling campaign near te2 and sbk fields we should rerate to full asset value.
Before you all get sucked into this share and invest more than you can afford to lose, just check sound energy, echo and Coro in which she is involved in. Misguided details on asset value, serious loss of wealth for private investors and the non stop confetti issuing of shares to fund directors life styles, DYOR, you have all been warned!
JP spouted £1 per TCF in the ground which equates to 60p ish, another lie and misrepresentation of the asset value which he should be investigated for, then when JJ joined it dropped to 27p per share for the Horst which took a lot of investors by surprise. Now add in dilution we could be looking at around 18p per share if we can unlock the asset and get gas to market.
Off the back of a misrepresented business and assets. I still believe tendrara gas will be sold to market, whether sound will hold the asset is another question. Just look at Corcel, Coro and echo to see what JP and the gang are upto, confetti shares to fund their lifestyle. Karma will catch him up.
I would think they n doing that would pish ogif off who are inherently tied to sound and the Moroccan government. Also more delays to getting gas to market also any new company could cok this up more than what JP has done, my thoughts on that question if it helps, we will soon find out.