Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Another great piece of analysis thanks jimmy. Great to have guys like you on this board.
Reasoned balanced analysis.
IJWT
I agree there was push back on you. The carrot that was dangled was there may be no need for testing, as there is a buyer on board . Absolutely you were right. The reason PG got upset was that this was all exposed at the meeting from the looks of it.
There were also it appears people placed in the room to harangue him. But if there had been an intelligent testing plan already in place a large part of this drama would have been cut short.
We are all making assumptions on PG's ability to deliver and do it in a more efficient manner. In a relatively short space of time we will see. Pg knows we are running out of road.
The T and T could be a very good deal. But Guercif should be front and centre with everything.
We have to look at all sides of the argument. There are plenty of trolls here. MEM is not in my view one.
Can we react emotionally to what has taken place. Yes. I know I sure did.
Shareholders have taken some very hard hits pyschologically and financially.
SJ may help it maybe the sidetrack. Taking into account the costs and the strategy is only right and the effect on finances and price..
I happen to believe a small raise would actually quickly raise the price of the share as they know we have cover for all eventualities. I was p2ssed sfter that last raise but looking on it damn glad they did and they went in for extra.
Lots of companies have little wriggle room. We expanded our runway.
I happen to agree that it makes most sense to do SJ when we have MOU-5 under way. It gives PG some space if things are tougher on the other wells. Though as IJWT wrote there are a host of intervals there should be some that are easier to take than others.
All the best
Here we have a thread where there are salient points for and against. The idea of a message board.
Cheers guys
None of us know what you have been attacked with but sure it is not pretty. The idea though with gang attacks is to shut down peoples view that are divergent to their agenda. On serious issues this is occurring and that is dangerous.
A thoughtful balanced post. Thank you.
I also agree it would make sense to do the sandjet testing and MOU 5 in one bundle. Now we are in late Feb I believe that will be the course of action. But we wait and see.
PG does need to address shareholders soon and fully.
Could not agree with you more.
PG has to do an interview with strategy and timelines. Shareholders need full disclosure.
Correct they slipped again but this was a light slippage from what we are used to.
Not great at all. but not months. No hiding.
They need to go back and design a timeline and strategy for sandjet testing. We knew of the difficulties in MOU 2. Now they are saying from the RNS they knew about the formation damage going in.
They did not emphasise this to us.... Sandjet was just to be more precise was the theme.
The gas shows seem good but crikey we dont just get the shaft we get it placed in sideways.
They need to come to us fast with the plan and the dates for sandjet. Today is going to be eye watering.
Little choice but to sit through it.
With that amount of shares you could have a very nice uplift on success. Just make sure it is ISA protected.
Some of the guys with smaller amounts will make larger amounts as they wont get scared out and will ride it through.
All the best to you and your family.
Rick Rule the commodities investor ex Sprott stated four trillion has been spent on renewables.
The result Hydrocarbon mix has reduced from 82% to 81%...
Meanwhile oil use is projected to increase by another million barrels a day minimum next eighteen months.
Gas storage facilities are seen to be inadequate for future use and the Permian basin may be near its max.
Medium term two to five years commodity investors are in what could be a very profitable space.
There will be volatility due to the economy but Maths wins where rhetoric fails. Rishi at least had
the intelligence to get UK off its high horse in the North Sea.
However if you look at the cycle we sure are not investing at the top. Mainly cos ESG has meant that there has been serial under-investment and we will see catch up. Not by choice but necessity... You wont even have to invest in the
tiny plays major and mid cap plays will do very well.
Greta and her brigade are commodity investors best friend..... Some of you should have the decency to man her barricades and join her marches. Now who will raise her placards?
Seriously appreciate the chat on this. Thanks Keith and Jimmy. This is why a BB is so great. Also thanks to all the other great guys who contribute so massively to us all. We have many fantastic posters on here.
A nice little tree shake ... we may get another before testing. There are naturally investors looking at the percentages of their funds at risk and are adjusting accordingly.
Provides nice entry point for others.
Usually he has mentioned it from his initial 1.5p buy in.
Looks like right now the pieces are moving across the board. They have been testing for a few days and the reference to T~T looked positive. Early days but they are signalling that they are going to now move with gusto.
There was 2 metres of gas reservoir and 64 metres of likely gas sand. The testing will give a more accurate idea of what we have in a short time.
Agreed we all have to be conservative as we are at the start of the journey. But it feels like the wheels are meaningfully moving now.
Jimmy if the area has expanded and they are noting more intervals to drill would not the chances of multi tcf gasses recoverable have actually increased.
The medium risk area on the jurrasic is 94km2 that discounts the play in its entirety which has been logged at 177km2 as complete high risk area. 55km2 is low risk. Those provide good odds to add to our other intervals.
No criticism just wanting to understand further...I appreciate all what the technical guys do here thanks to all.
By the way would be cool to hear from GRH on these metrics.
The ITR looked pretty good and they seemed to be very careful which is good for investors.
Keith I have to take serious issue with your post.
Anti Venoms credibility has not been diminished.
The little bottom feeder had none to begin with.
Now we have ascertained the facts regarding this vile troll we can move on.
Amen brother... and a good year for us all.
Its natural. A healthy realism is no bad thing. Most are in the same position there have been some positives and some missteps this year. We can't be too over the top right now. PG knows he has to deliver now.
Cheers GRH for answering so promptly.
I guess if pressures in these zones are a little light they can quickly expand from there if needed... so the optionality is there in that respect.
I think the point was that the more zones tested for high pressures the higher the price will rise.
The reason why many are unsure is because we are down to communication again. I guess you would say rightly PG wants to keep his cards close to his chest.
Jimmy has pointed out the reduced testing along the zones. Do you believe this is a salient strategy for PG at this stage?
Personally I do believe as a shareholder you can review the CEO's strategy without being a part of the troll brigade. This board is about gathering as much info as possible from diverse sources. Obviously we do have some players here who do not have the best intentions of others but the vast majority come from an honest place.