Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
only slightly joking when i say that i found oil today on my driveway... i'm not anticipating getting in a rig, though.
i can't imagine there's anyone who own shares, large or small, who are happy with the current state... hurts pi's more than ii's but even kilkenny, if they're still holding, are looking like mugs from co's conduct.
while it's very true that 'the oil is still there' all the talk about locality, neighbours, seepage, is all incidental. i'm so frustrated that hard data wasn't taken... that coring wasn't done... that we still don't have hard data. 3 reports now, still no wiser... just word of mouth about a future pay day...
at least the agm will resolve some issues, unless sefton is allowed to billy BS his way through the proceedings and rely on his 'feelings' to point to the future.
he must have trusting ffriends in the biz to be sitting on 75% losses from ipo and still be happy with the state of the co.
only power we have, though, is to hold or sell... neither of them are particularly attractive propositions...
apologies... my posts sounds aggresive... not meant to be... should have prefixed "with respect"...
hope folk make money on the bounce today.4
gla.
oh, and this isn't me trolling... it's just a face that those open offer shares will come onto the market... and it's a fact that any ii's on the bookbuild will sell on a profit... they're not pi's looking for future profits... they'll take it as soon as...i would!
but i could be very wrong!
gla...
as you seem to have a v thin grasp of what's happening.
first, there might be a rise... but that's because pi's are dumb sheep or opportunists... if this is rising off a low then folk'll try and trade it.
the bookbuild means those ii's have a guaranteed 20% profit as of whenever they get thier shares... we don't...
there's £7million of 100p shares to come down the line...
i can't say where some rises might come but i can guarantee some troughs...
i just sold my stake... i'll wait for those troughs... in the meantime, i hope folk get the rises in between...
gla.
erm... have you checked the mtro price today?
i think you really need to review your logic...
if it didn't then you just know folk would sell up thinking it might and i've never seen mm's not watn to take advantage so, in spite of it being 'accelerated bookbuild' it'll drop... also have to consider that only reason for any of the ii's to buy in is because if they don't...
100p to live to fight another day, imo.
if it hadn't placed today the sp could've easily been 160 today just on traders and punters.
at least now the future's secured with a good chance of a recovery sometime in the next 12 months.
you're doing fine... and none of my comments are personally aimed at you... more the ponts your'e amking.
we suffered sandabel and the placing for a total of £7mill, while dropping the price from 10.5p when the drawdown started and we paid them off and found the funds to complete 103... and we still don't know how much of the £7mill, plus £600k per month, is left in the kitty.
it would mean a great deal if there was no placing to come... i catually wouldn't care about mego if the sp doesn't take another hit and we get an intention that we catually stick to... 3 years and £umpteen million should have done more than lose 75% mcap since we started.
it's hard to understand how we could have gone through nearly £10mill in 7 months so Sefton really had better produce some cracking answers... though i'm really not convinced he will.
fairly sure they said 18months... and at $1mill i think i'd rather have $18mill to tackle djeno... as i would dreade to think what additional funds we'd need to keep aaog going and to add to whatever is left of the £7mill that was supposed to bring in mengo.
not sure how self funding is such a terrible idea, even if it puts plans back for djeno 12 months... i'd rather be holding my shares at 15-20p for 12months with more to come by releasing future intent than see a placing at 4-5p...with djeno coming in in.. by end of year? and from what price, in the meantime?
from havoic's report:
"As highlighted by just two examples, the differences in the final results produced by SLB and NUTECH can, in-part,be attributed to the range of assumptions being applied.In the absence of hard data, and the ability to calibrate log data, the assumptions being applied are considered to fall within an acceptablerange of possibilities. What is clear however,is that additional data is required by AAOG to make a confident determination of the ultimate potential of the complete Djeno formation."
we placed £6million (plus £1million, don't forget, taken from Sandabel) to complete 103c and produce, as is being mentioned by the trolling (but accurate) fraternity, 1500popd from Mengo.
Unless I'm an idiot, why would one concern oneself with Djeno for now when 1500bopd would fund this company for the next two years, allowing for plans to be enacted to drill into Djeno, and seek further assets (that was what the £6-7million was also for)?
I have no idea how much the Djeno would cost to drill but isn't it possible to do that after the Mengo has paid out?
otherwise, doesn't it sound like Mengo isn't commercially viable,, after all and, rather than release that news, talk about the 'bigger prize'?
If the company refuse to understand that point then that would explain the reason teh sp is falling... a 50% drop is pretty much what would happen if AAOG had announced a duster... except that if it had been done there then we would've bounced from 10p, rather than worrying about a further drop from 6p?
if i weren't already in this and suffering a significant paper loss, i'd not bother with aaog. as it is, having taken all the pain of being in since ipo i'd hate to bale now only to see this come good... but that is the only reason i can see for being in, fomo but there's nothing really being formally shown from schlum and the others that shows that this is going to make any pi rich.
my fear is that the agm will 'understand' pi's frustration but explain that mengo is beer money compared to djeno and, after all, 'we know best'. i hope we'll also get a breakdwon of how much of that £7million is left to spend and what the cost is supposed to be for djeno (and why it can't be left for another day... it's not as if it's going to go anywhere!.
i'd be happier with any future plans if the share was back at 20p on mengo's $1million per month:
"Based on the Company's analysis of the results from the Well and the board's long-stated desire to become cashflow positive as quickly as possible, management has concluded that TLP-103C is to be brought into production through comingling of the R2 and Mengo reservoirs via a double completion. This can be achieved from the Company's existing cash resources whereas production from the Djeno would require improvements to the topside infrastructure at Tilapia." (13 Feb)
unless profit takers have their wicked way here... but thinking the sentimetn is with the share atm, hence getting back in.
enough from me... will leave the sp to do the talk.
the comment about looking for a placing smashed the sp down from 240p... considering we've had ii's at prices from £10 and upwards, fairly confident that the sp will get back over 200p before that news is announced...
there's a lot of ground to make up before it starts to look overvalued...
got back in again... can't work out what happened that lost the share 10% of its rise as there weren't any sells to speak of but... taking advantage.
now looking for this to get back to 1.60 in short term.
gla..
can't work out if they just ran out of shares or there's a thing going on behind the scenes but it's lost most of today's profit...
jiddy, even you would have to admit you had a sneaking hope that this would be 50% at least... the fact that the mms took most of the profit first thing meant that it rather scuppered a further rise.
if you're lth here then i wouldn't expect anything less than happy postings today but this share's done more than this just on expectation. that rns should've stuck that 50% i mentioned earlier.
the share's only going to rise with more trades and traders to push this up... and i reckon, considering the volume and the rise, most of the trades are sellers who bought in over the last week from 0.9 onwards.
but as i don't have a deeper interest in this i'll be very happy for lthers if the US cavalry rides to the rescue this afternoon and sees this at 1.5...ish.
gla... would be deserved, if only for perseverence!
for the anticipated rise they didn't get here? if asx only rose by 6.7% then i reckon you're lucky to be seeing 17% here...
took my punt out as i reckon this is as good as it gets but i daresay i'll be proved wrong this afternoon!
gla...
i don't think you can expect many folk to just hold on until this gets back to 280 (or higher).
fully expect traders to be selling on 20% rises... surprised it didn't happen earlier, tbh.
looking for 10-15% retrace... just keeping an eye on the sentiment because, frankly, wouldn't be surprised to see two days profits taken...
only reason it's gone quiet is because the company hasn't said anything to damage the sp... yet!
that placing is still hovering over the heads... keep some cash back, folks, placings are rarely at a premium!
gla.
true, it does... but, pretty much, everyone who owns this share isn't at this price...
just sayin'...
thnk youre confusing the journey of sentiment, tiptop.
bad attitude comes from the sinking sp which comes from the news that the 'progress' is pushing the sp in the wrong direction which creates the concern that the results, which are being herded in a very specific way, that's unconventional, to say the least, are at best, confusing and, at worst, economical with the truth. that creates suspicion and that creates the bad attitude that you're concerning yourself with.
unfortunately, we're not an evangelical church, waiting for the second coming but investors waiting for the first!
the reliance on 'metres of oil' as opposed to specific flow rates isn't what the market is looking for. so, why are we where we are?
at this point, even a bagging will merely get us to pre-spudding levels so all of us investors are now stuck between hope that this is our salvation or believing that there isn't, in fact, a god and this is as good as it gets.
it's not a great place to be and i don't think any of the BoD have the same concerns as we mere mortals.
it really is time to just put cards on the table because this is seriously hurting the sp and its pi's.