Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
How much cash flow from Canada will they have to put up for the Serenity appraisal, or will they borrow? Of course they will.
i3's current minimum programme for the appraisal drilling consists of two appraisal wells on Serenity plus a sidetrack on each well, contingent on drilling outcomes, at a total expected gross cost of approximately US$33 million. i3's words not mine!
Expecting Borgland Dolphin as one of the partners and...............?
My only concerns ; we keep costs under control.
hTtps://www.worldoil.com/news/2021/10/22/canadian-light-oil-demand-jumps-as-refiners-avoid-gas-dependence
Why would they buy back shares? We have assets in the ground that need to be monetised. To do that we need Capital to be expended that will produce Operating Cash Flow. This would provide Working Capital. They diluted all shareholders by 30%
in order to increase the Cash Flow of the company in the future. I don't agree with the way its been done but we have over 8000 bopd that will increase our Cash Flow . The market is not taking this into account. Yet!
T, Norstrom
"and they are generating an additional $3m - $4m in free cash flow per month from the closing date. They have pots of money for developments / workovers."
YOU DON'T KNOW THAT ITS FCF. The proper term is cash flow, I use that word because we don't even know if its OCF. FCF is what i3 choose you to have. Debts are paid with FCF so why is the LN debt not being paid off. How much have you factored in for CAPeX? All work on drilling is CapeX. Where does that come from or how much FCF does it leave? So obviously you must know how much Capital will be expended in the future; has Majid been privy to your ear? Leaving out what we already know, Clearwater, Cardium, Montney, what can you tell us.? What about the overlapping assets. These may well add to Operating Cash flow but until we know our Capital Outflow we don't know what our FCF will be! Yes! We don't have enough money to do what should be doing. Majid gave away part of the company because it was cheaper to buy production than drill; he never took into account what 363 mln new shares would do to the sp of a small company.
I've always been bullish on Canada or I wouldn't be here. I made the case with Graham that John Festival should be the autonomous CEO of the WCSB along time ago. I'm against Majid as besides his history, he presents things as tho' others have failed to carry out simple fundamentals. He doesn't have the honesty to be a CEO like I do .
Yes been trading since 79, Scary eh! For the most part I only buy shares where follow up action can be taking if and when the inevitable happens. I do alright! Scary Eh!
I asked Graham when we would have a RCF; unusual for him, he never replied. That means he agrees with me that our NWC is not enough.
"Looks liked we've picked up a field crew with the assets so there should be pretty quick action on these potential 80 quick workover / reactivations they have spoken about."
They do not have the money. Get an education!!
"You worked out the FCF last time and found their was less than expected or did you work it out wrong?"
"i'm cringing with embarrassment with your obvious lack of knowledge."
It really touched a nerve didn't it . What a pathetic ramper!
" What a croc of fu_king **** - " What does that mean, It's a vocabulary I haven't come across?
My trading knowledge allows me to confidently hedge my positions if they go against me. Still here since 1979.
It also include debt to FCF ratios , thats a ridiculous comparison. Nothing but an almighty ramp. We are getting house brokers estimates which should be taken with a pinch of salt. I posted the debt deal because this is what took place , not an opinion.
You worked out the FCF last time and found their was less than expected or did you work it out wrong?
It normally takes a month or thereabouts for a stock to recuperate the cost of dividends. It has to be replaced with earnings before the sp can move forward. I'm sure we understand that? It is obvious there are lots of shares out there, since the sp is stuck in a trading range. Mr Market is encouraging buying and selling by raising the sp above 11p then dropping it below, where he makes his money from the spread. He can do this all day but he would rather have higher prices since he owns stock which he trades. The point being, their is a massive overhang of shares which stops him from doing so, ie their will always be sellers out their when 363 million share have been handed, out mostly to Institutions.
Liberator and Minos High, you have got to be kidding . These will never be explored. They are only mentioned because it looks good on paper. They have already given up on the Dana oil find. They will appraise Serenity but don't bet your house on it.
Debt.
I posted this July because it was it was being inferred debt was hard to come by.
Availability of Debt.
As I've frequently posted debt is available in Canada. Misinformation from one particular poster does not help a Pi.
While I'm here , Majid hardly mentions Montney, but I will, because it is recognised as the jewel in the crown of the WCSB. Simonette is a small part of that play.
Spartan Delta Corp. announces strategic Montney acquisition, $150 million equity financing, $450 million credit facility and $150 million term facility
July 28, 20213:02 PM Globe Newswire
CALGARY, Alberta – Spartan Delta Corp. (“Spartan” or the “Company“) (TSXV:SDE) is pleased to announce that it has entered into a definitive agreement (the “Agreement“) to acquire Velvet Energy Ltd. (“Velvet“), a privately held light-oil Montney producer with operations primarily in the Gold Creek, Karr and Pouce Coupe areas of north-west Alberta (the “Velvet Assets“) for total consideration of approximately $743.3 million(1) (the “Acquisition“).
The Acquisition will be funded by a combination of cash on hand, a $150.0 million bought deal equity financing led by National Bank Financial Inc., as sole bookrunner, together with CIBC World Markets Inc. as co-lead underwriters (the “Financing“), a five year $150.0 million 7.7% senior unsecured term facility (the “Term Facility“) and the Company’s revolving credit facility (the “Credit Facility“). Spartan has received confirmation with respect to an increase in the available capacity under the Credit Facility from $100.0 million to $450.0 million concurrent with the completion of the Acquisition.
I should also add ; Quote, "The Velvet Assets at Karr are located between the Gold Creek and Simonette areas and will add to Spartan’s existing land position at Karr."
For the Lth prepared to wait , it is obvious Spartan Delta Corp may consider i3 a future acquisition, as Simonette lies contiguous to its Assets.
7.7% senior unsecured term facility, as opposed to 11% we will pay. We need to refinance while these deals are still available. Not paying the LN debt when it becomes due is a red flag to a credit score and not helping matters.
7.7% Senior debt unsecured seems pretty good to me. Look at the revolving credit facility. A RCF is a debt you pay back as you use. It simply guarantees working capital for forward projects.
Bots, why do you suggest Hasiba should sell if he is not happy. Does he not have rights as a shareholder to voice concerns. I would back him 100%. Corporate Governance dictates that the BOD have to treat all Shareholders equally; They did not!
Have you some kind of authority which we don't know about? No one on this board has any right, to try and dictate what another should do; simply because they disagree with whats been said.
Availability of Debt.
As I've frequently posted debt is available in Canada. Misinformation from one particular poster does not help a Pi.
While I'm here , Majid hardly mentions Montney, but I will, because it is recognised as the jewel in the crown of the WCSB. Simonette is a small part of that play.
Spartan Delta Corp. announces strategic Montney acquisition, $150 million equity financing, $450 million credit facility and $150 million term facility
July 28, 20213:02 PM Globe Newswire
CALGARY, Alberta – Spartan Delta Corp. (“Spartan” or the “Company“) (TSXV:SDE) is pleased to announce that it has entered into a definitive agreement (the “Agreement“) to acquire Velvet Energy Ltd. (“Velvet“), a privately held light-oil Montney producer with operations primarily in the Gold Creek, Karr and Pouce Coupe areas of north-west Alberta (the “Velvet Assets“) for total consideration of approximately $743.3 million(1) (the “Acquisition“).
The Acquisition will be funded by a combination of cash on hand, a $150.0 million bought deal equity financing led by National Bank Financial Inc., as sole bookrunner, together with CIBC World Markets Inc. as co-lead underwriters (the “Financing“), a five year $150.0 million 7.7% senior unsecured term facility (the “Term Facility“) and the Company’s revolving credit facility (the “Credit Facility“). Spartan has received confirmation with respect to an increase in the available capacity under the Credit Facility from $100.0 million to $450.0 million concurrent with the completion of the Acquisition.
I should also add ; Quote, "The Velvet Assets at Karr are located between the Gold Creek and Simonette areas and will add to Spartan’s existing land position at Karr."
For the Lth prepared to wait , it is obvious Spartan Delta Corp may consider i3 a future acquisition, as Simonette lies contiguous to its Assets.
7.7% senior unsecured term facility, as opposed to 11% we will pay. We need to refinance while these deals are still available. Not paying the LN debt when it becomes due is a red flag to a credit score and not helping matters.
New Options.
Yes Pirate Pete, I agree, thats exactly what they are. To say theirs a vesting period is a waste of space. These are ATM options typically handed out when dilution has taken place. These options should be vesting when the sp hits 40p or more and not a give away; the so called targets will be hit this year. I believe company insiders can hold 15% or it was, meaning, as the company grows so will option handouts. I have no qualms concerning Canada staff. I would like to add as far as I am aware Lib West and Minos High are Prospects, not discoveries. I was the one posting about US Frackers refinancing their debt so GGG is right. Meaning if highly leveraged companies can obtain refinancing so could we. I was in favour of a revolving debt facility so we would pay back the loan as its used ie as the wells came on stream. When debt is taken on it is usual to hedge the approximate Cash flow ( fixed costs payments. ). Husky and Cenovus came together January and the light oil assets were then for sale. I'm a lth and moving on from what I’ve said, believe this is an excellent deal. I have also noticed that the holding of Bybrook/Cairn Capital is now down to 23.9%. As we know? I3 are not paying back the LN interest as they intend to pay in kind. We will see further options / warrants issued to Bybrook/Cairn to take them just below the 30%. Easy money for a hedge fund.
I just want to post this from 2018 and hopefully the Pi's on here will appreciate what a brilliant deal we have. The directors are doing what they said they would do and thats expand the company. Okay, some don't agree on the way its been funded but this deal will take us forward as long as Majid doesn't go anywhere near a drill. I believe WTI was about $65.25 give or take a few cents.
Toscana Energy Announces Acquisition of Cortona Energy Ltd.
August 28, 20187:09 PMÂ Globe Newswire
CALGARY, Alberta, Aug. 28, 2018 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Company”) (TSX: TEI) is pleased to announce the successful closing of its previously announced acquisition of Cortona Energy Ltd. (“Cortona”) for aggregate consideration of approximately $12,000,000.00 (the “Transaction”) as previously described in the July 23, 2018 press release of the Company. The closing of this strategic Transaction adds approximately 250 BOE/d of light oil production and consolidates Toscana’s Carmangay Baron’s oil pool. Synergies in operations will allow for efficiencies in reservoir management and secondary enhanced recovery strategies.
About Toscana Energy Income Corporation
Toscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.
Bybrook is a Hedge Fund , So is Lombard. Not all hedgies are long/short, but I call them back street lenders, hence the interest rates to i3. Bybrook, now Cairn Capitol, were already down to just over 28% because of dilution. We are dividend payers and our credit score would have improved massively since the Liberator failure meant we could not meet the RBL requirement. US frackers were recently taking advantage of 5% interest rates and reducing their debts. We should have done likewise with term debt or a revolving credit facility for expansion. This would have been self financing. Has Majid put his hands in his pocket or will he be awarded a bonus for diluting paying shareholders? Last time I looked he was pocketing ÂŁ702k per annum. Graham on over ÂŁ500k. Dilution aside I think it's a good deal. Next year we have export opportunities from the TransMountain expansion to Asia and far better prices. We presently have excellent prices for AECO gas. This will also supply the Shell LNG plant 2024. We need to be of a larger scale for export contracts in our own right! 18month down the road why not 30/40p. That is of course if producers remain sensible when supplying the market.
I'm here for the journey.
This is a comment from i3 last year. The majority of lth's believe this is the case.
I3. The Tain field will have to be unified. We’ll end up in a commercial negotiation with RSRUK so that we can arrange with them how the joint fields can be developed and built up. The Oil and Gas Authority are aware of our interpretation of Serenity and that we believe it is connected to Tain. RSRUK are aware of that and we anticipate that will lead to an unitisation discussion and effectively a joint development of a single field called TainSerenity. I believe from memory Serenity has four openings to the East which enters Tain. If the OGA believe it is one field they will order it to be jointly developed.
yoyoma, you posted; Freshair Tony. @Tony I read your posts on here and Twitter and you’ve always backed up with evidence, Freshair is yet to provide evidence on comments albeit only just more actively got involved.
I have asked you to elaborate otherwise remove your post.