Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
BlaimThrower.
Your right, can lead a horse to water!
Lot of guys don't like it when the facts are explained in black and white and resort to insults and reporting posts, another post of mine disappeared again and in no way did it break lse rules, just probably annoyed someone who didn't like their own words posted back to them, says a lot about them.
chinnnnnnnnch
Think you are more fixated on a placing than me as you keep referring to my past posts about it.
Also maybe you should read the news releases on tmx.com for Jesmond and then maybe you might understand my comments on Quattro applying for new licences in the NSTA 33rd licencing round.
Not good news is it.
Few red flags.
Firstly, there was no ' pleased to announce' in the first sentence!
The they state that they intend to go back to the Jamaican govt and ask for an extension to the current licence period so they can do additional technical work!
Now remember that they got an extension 2 years ago and stated before that they had already completed extensive technical work, and who's going to do this additional technical work, not the two bean counters that are left and they let the only person capable of doing it go.
As far as egypt is concerned, I reckon that current production over the last 4 months is about 800bopd, ignoring gas, so current production will be less than that.
If, and remember new well is an exploration well, the new well is successful its just another sticking plaster.
Next red flag ist he fact they haven't received any $$$$$$ since August.
Now I don't think BP will want paid in monopoly money so wonder how the repayments to bp are being made!
Anyone like to guess what the price will be if an extension to the big Jamaican carrot is unsuccessful.
Just like to point out the above post was originally posted at 11:29 and was removed, dont know why as it doesn't break any lse rules unlike some posts by others.
GingerHippo that's absulute nonsense.
Peter Dunne stated in the presentation that the BP loan would not be paid off until jan/Feb next year!
Positive cashflow from where and don't say egypt as everyone knows that egypt can't pay its own way and only for the money from last year's divestments kept it afloat.
Maria was the lifebuoy uog needed but now it's gone.
Looks like Quattro hasn't secured any North Sea licences going by the press release yesterday from the NSTA which maybe was a reason Maria was binned.
Take it everyone noticed the last paragraph in the rns,
"Our focus remains on progressing the farmout of Jamaica and the upcoming drilling activities in Egypt including the drilling of the ASD-S-1X exploration well later this year."
Thought the asd well was suppose to spud in September then October and now later this year
What does that say, no money!
Jamaica or bust indeed.
Think a lot of people just looked at Q3 update and compared it to Q2 without looking at Q1.
Q2 was exceptional when compared to Q1 but because there has been a very slight fall in overall production between Q3 and Q2 people might be ignoring the massive increase from Q1 to Q3.
Just need to look at how net debt has been decreasing to realise how well Shanta has performed over the last 9 months.
Can't really find anything to be concerned about, all good.
The Company has certainly performed exceptionally well and
Chinch/ loads
Don't know why you think I'm misleading this bb about Jonathan Leather, all I've stated is that he has left uog as part of their cost cutting not disputing the fact that he might be consulted on in the future but he is no longer a director.
As far understanding the financials I think I'm one of a few who actually does understand them.
Not fixated on a share issue and BL seemed quite adamant that he won't do a placing just now but wouldn't rule it out in the future.
They seemed to be Indicating that they might refinance the bp deal for abu sennan what message does they imply to you.
Did you notice in the financials that they never paid the full amount to bp in h1 and Peter Dunne has said that the debt would now not be paid off until jan/ Feb next year and not dec this year, why?
I do think that the right deal for Jamaica would be game changing and have never said otherwise other than be concerned that the deadline keeps being extended as is the case with Maria.
Glass half full or glass half empty, hmm.
Have a good weekend.
The df
Surprised your still allowed to post on lse.
You must be the most insulting, disruptive poster I've come across just as you were when you used to post as Formerfd and TeleTim65.
Thought your posts on the harl board would have seen you banned by now, quite disgusting some of them.
Loads
A new project is wishful thinking especially since Jonathan Leather has left and the funding from bp for egypt hasn't been successful as far as Shareholders are concerned.
Shares suspended at 4p, placing at 3p and look what BL has achieved since.
The only ones to benefit have been bp and of course the directors who until now have enjoyed a very handsome remuneration for the past few years.
The last payment to bp is in Dec so that might help keep the wages getting paid into next year.
Interesting comment on Jamaica.
Uog must be going for a free carry if not raising money.
Hard to see someone else take all the risk especially at 19% gcos.
Did uog say that the investor meet would be posted online, I'd like to hear exactly what was said.
Chinch,
Would take what is said with a pinch of salt.
Fact is Jonathan Leather and others had to go to save money, which they have confirmed.
Still say it's not the right message to send to the market.
Still wouldn't rule out a placing at some point regardless of the fact they say otherwise.
Was the need to raise funds brought up in Q&A in the meeting or stated as part of the presentation, haven't seen a recording online as yet, has anyone else?
Agree that everything comes down to Maria and Jamaica.
Maria just been kicked down the road once again and looks like it will be again.
Just get the feeling Quattro are holding their cards close to their chest and are waiting to see the results of the NSTA 23rd licencing rounds before committing themselves, just my opinion.
Also the Maria licence expires Dec 2023!
Jamaica, the big carrot, licence expires Jan 2024.
Like Maria keeps being pushed further down the road and now say they expect to move forward to commercial discussions with a preferred partner over the coming weeks.
Leaving it a bit late imo and the nearer it gets to Jan 2024 the weaker their hand might get.
Providing they have identified 'a partner with the right skillset to compliment our work'
Really, hope bp or shell have the right skillset for uog!
As you say going to know very soon.
Got a feeling that with all the buys that seem to be going thru this week and not having an affect on the sp there might be another sell order on the books to follow the Newlands.
Just speculation of course.
Loads,
Was there any questions from shareholders put to the board at the end and will a recording be available online.
Reason I'm asking about questions is because the last webinar recording online did not include any questions. When I asked why no q&a they blamed the company that recorded the webcast, they wouldn't have left the q&a out of the recording without asking first! Imo.
Loads,
Your right no need to tr1 as they only held 2.75%, 18,0500,000 shares.
Interesting that Larkin said he didn't need to raise capital. Don't think there's much chance of any new projects after letting Jonathan Leather go and in reality they don't have any money to do a deal.
Did bl say anything about Maria or Jamaica that wasn't just blether.
Tyla
Imo there was a few delayed trades totalling about £225k over the last week seling between 0.85p and 1.06p, could be the Newlands had a sell order executed over the last week or so.
Loads,
Do you think the Newlands/seller will buy back in?
Obviously would have to be at a lower price than they sold, maybe a placing on the horizon.
What price do you think they'll buy back in.
The Major shareholders list on uog website has been updated.
Most notable is the fact that Mr D & Mrs Newlands have sold their 18m shares and this probably accounts for the fall in sp in recent days. Couple of other changes but this one most notable.
Do the Newlands know something gingerhippo doesn't, of course they do.
Also notice that Sharan Dhami's contact email has been removed so it looks like she has been let go as part of the 'reduction in Corporate Headcount and reduction in the size of the Board'.
It also looks obvious that Jonathan Leather was also let go for the same reason, just imo.
Two very capable people that seem to have been let go to preserve cash, someone getting their own priorities right, wage needs to be paid after all.
Not the right message to send to the market.
One thing in the rms that larkin said
"Our strategy remains the same to create value by actively managing our existing assets whilst growing our business through additional high-margin opportunities"
Yep grow the business by letting important people leave!
Well someone needs to tell him that he has created zero value for shareholders and it's time for him to let someone else take the lead, someone that knows how to run an oil company for the benefit of all shareholders not just themselves.
Just my opinion on things and not to be taken as investment advice.
Loads
Jonathan Leather stated a while back that egypt had a decline rate of 15%-30% .
Production will not increase.
Also
'After producing for a number of months at rates in excess of 2,800 bopd (616 bopd net), production from the ASH-8 well is now declining. This is in line with expectations and the performance of the other production wells in the ASH Field'
Loads,
There isn't plenty of revenue coming in, why do you think they only had 550k at end of june( 1.4m end dec)
How are they going to pay $1m for the new well.
Production falling, uog are telling you that.
How much of that 550k is left, 3 months down the line.
They only survived because of the $5m they got from divestments last year revenue from egypt was no where near enough.
Funny how you never mention the money received from divestments last year $$$$$$$$$$$$$$
Chinch,
Think you should get your tr1 if holder that's selling follows the rules and the nomad does their job.
Doesn't look good.
£90k sale yesterday and a £65k sale last week obvious someone not happy.
If Maria doesn't sell then they might need to do a placing to fund the next exploration well that is expected to spud this week!!
Just speculation of course but something must be brewing and the big sell explains why the sp has fallen recently.
Oily don't think he can explain and In fairness he never used the $ sign so probably meant 7.5 billion rials.
But all might be clearer on Thursday when United publish their half year results.
Expect updates on Maria, Jamaica,cash balance,current production and news on the next well that is 'expected' to spud in September.
Thirdtimelucky1.
I don't think so as it's quite a large trade for uog.
Just my opinion but I would say it's a sell order that's been executed but just my opinion so don't take it as gospel.
Maybe see a tr1 as chinch suggested might happen.