Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
CHAR was one of the cheapest drills I've seen in a long while on a risked BOE basis, reaching around $0.93/BOE in the run-up to Anchois-2. CLON which is also gas, but in a very prolific area is currently priced at $0.26/BOE risked, so the SP would have to reach almost 1.4p just to be on the same multiple per BOE as CHAR was before drilling, which itself was significantly lower than just about all the other drills at the time. Potential at these levels looks massive.
CHAR was one of the cheapest drills I've seen in a long while on a risked BOE basis, reaching around $0.93/BOE in the run-up to Anchois-2. CLON which is also gas, but in a very prolific area is currently priced at $0.26/BOE risked, so the SP would have to reach almost 1.4p just to be on the same multiple per BOE as CHAR was before drilling, which itself was significantly lower than just about all the other drills at the time. Potential at these levels looks massive.
That's a very good idea. From a slightly different angle, I've been expecting ECO to make a play for Sintana since they moved into Namibia last year, particularly as Charlestown Energy is a major investor in both companies.
Yes. Thanks for the update Harel. It's been pretty quiet here the last couple of weeks. I'm surprised we didn't see any reaction to the Barreleye-1 result last week as that discovery is quite close to Orinduik and a bigger step out than our targets.
While we wait for MOU operations to start, has anyone taken a look at CLON? They've just taken a 136.7 MMBOE 2U stake in Sasanof-1, an exploration well with 32% COS spudding imminently in the prolific Carnarvon Basin Australia. The well is directly adjacent to a discovery that is filled to spill and the project so far has made 15 discoveries out of 17 exploration wells. There are many other numerous large fields in the area including Australia's biggest, Janzs-Io. The crazy thing is CLON is priced at only $0.09/BOE unrisked, $0.29/BOE risked, which is exceptionally cheap for an exploration drill. DYOR
https://i.ibb.co/C2W0Qkx/CLON-Sasanof-Location.png
https://cdn.offshorewind.biz/wp-content/uploads/sites/6/2021/12/29173509/Sasanof-amplitudes-on-merged-3D-seismic-showing-Mentorc-Field-and-Western-Gas-Sasanof-Prospect-outline-Source-Western-Gas-1024x582.jpg
https://www.westerngas.com.au/equus-gas-project
Has anyone taken a look at CLON? They've just taken a 136.7 MMBOE 2U stake in Sasanof-1, an exploration well with 32% COS spudding imminently in the prolific Carnarvon Basin Australia. The well is directly adjacent to a discovery that is filled to spill and the project so far has made 15 discoveries out of 17 exploration wells. Sounds a lot like Stabroek. There are many other numerous large fields in the area including Australia's biggest, Janzs-Io. The crazy thing is CLON is priced at only $0.09/BOE unrisked, $0.29/BOE risked, which is exceptionally cheap for an exploration drill. DYOR
https://i.ibb.co/C2W0Qkx/CLON-Sasanof-Location.png
https://cdn.offshorewind.biz/wp-content/uploads/sites/6/2021/12/29173509/Sasanof-amplitudes-on-merged-3D-seismic-showing-Mentorc-Field-and-Western-Gas-Sasanof-Prospect-outline-Source-Western-Gas-1024x582.jpg
https://www.westerngas.com.au/equus-gas-project
All these up slope discoveries must be having a very positive read across for ECO's Orinduik targets.
COS increased from 29% to 56%.
https://oilnow.gy/featured/wei-1-chance-of-success-doubled-after-updated-results-from-kawa-1-cgx-frontera/
I disagree. Company fundamentals have been completely transformed and the market should reprice the stock accordingly. Yesterday CLON spiked on open into major risk off sentiment across markets, but CLON fundamentals should win through strongly. Way too big a drill for the market cap. Markets are also starting to recover.
I know people always say potential is huge with a given exploration drill, but at 136.7 MMBOE 2U net to BOIL it really is gigantic for the market cap, especially in a proven area. So gutted I couldn't get exposure to this drill when I spotted it last year. Can't believe our luck.