Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I have always held the view that the drilling of Santa Cruz being so close to the Chilean border was due to presence of a trap from a gas field which crosses the border (which would explain the high COS). The fact the interval is at a shallower debt than pre-drill prognoses could mean that the gas has migrated to another zone than was previously thought and thus the seismic will need to be re-visited to determine reservoir volume and also potential drill locations, this coupled with test data will give us the 1P reserve value, which hopefully is tasty.
A very reasonable analysis!
It is my opinion that we are soooo undervalued but greatly believe we are about to turn a corner soon.
Yes we have debt but as a producer we are doing ok. We have had the asset for a year now and 3/4 of which has been in a pandemic. Encouraging that wells shut in are running again with WO's imminent.
Here's hoping for news very soon on all fronts.
GLA
I wish I had sold out when I could have walked away with £30k profit! But that’s the way it goes, however it has given me the opportunity to quadruple my ISA holdings to 1mil shares, and need .85/.9 to break even! A bag basically! I hope to walk away with a tidy profit eventually! GLA
You will find that not only are there work-over wells but the 500 bopd monthly increase is from wells shutdown due to Covid.
The price of oil very important to echo now, it has risen well to just under $50 a barrel and when the world starts to come out of the pandemic demand will grow.
Looking forward to the next few weeks ahead... :-)