Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
The RNS doesn't detail this but to give clarity, these are held by Shore Capital Stockbrokers Limited and were attached to the placing that was done in August 2018. They are issued at 0.335p and were set to expire 30th August 2020. If they weren't exercised, they would of been lost. Not a huge amount and should be swallowed up should they be offloaded or indeed may have already been forward sold. However, they may also be held given project execution is about to be kicked off. Non issue for me.
Watch how some spin this as hugely negative. It is well known there are warrants outstanding.
I suspect it is a large holder or holders that have accumulated shares in the lead up to news and have then opened up a short or a spread bet. The sell down of the shares makes money off the sale as well as the short. I can only speculate but that's what I think is happening here.
No problem Muel. The rates are from the submitted field development plan from Jan 2019 (See RNS dated 28th January 2019). Obviously timings are a bit off now but plan remains the same as far as we know.
Also see below link https://www.offshore-mag.com/drilling-completion/article/16790545/copl-outlines-phased-development-plan-for-noa-offshore-nigeria
Hi Meul. Each well in the first Phase Development of the Noa Field on OPL226 is expected to fetch between 6,000bpd - 10,000bpd. COPL has an initial 5% stake in the licence. However, you can bet if it strikes oil the company will take up the option of an additional 10% within 90 days of completion of the well.
15% of upper target of 10k bpd = 1500bpd net COPL x $45/b x 365 days = $24.6 revenue per well
Good post Muel, certainly an attractive prospect. Maybe a slight correction on your calcs unless you have worked out profit? 1,500bpd net COPL on the first well equates to approx 24.6M in revenue at $45/b. Obviously costs, tax etc. to be taken in to account but gives an idea of the potential per well we are looking at.
MRRR - The PSC / exploration licence extension application has already been submitted (See RNS on 4th August).
As for timings, as a rough guide, Lekoil reached resolution with their Partner, Optimum, on 30th August 2019. Their exploration licence extension was approved by the Nigerian Federal Gov on 6th September, a week later. I'm expecting our PSC extension to be a similarly quick process.
Thought I'd follow up on my previous post this morning on my very simplified TA view of the SP.
The RSI (which can be used to determine overbought/oversold levels) bounced off oversold on 30minute candles but didn't quite reach it on the hourly. The MACD (which can be used to get a view of trend direction) is starting to converge on the hourly candlestick, indicating that the sell off is weakening and things are settling out. I suspect we will get a cross on the hourly MACD on Monday and momentum will swing to the upside.
The story is just beginning here with lots of positive news yet to come to keep existing and prospective investors interested. Next up, PSC extension...
That's basically the sum of it Baserite. The share price cannot keep going up, the market doesn't work like that. For sustained rises like we have seen the past couple months, we need consolidation - shares changing hands at higher levels. I'd suggest to anyone who is worrying over the past couple days, take a minute to study the chart and the MACD and RSI indicators over the past couple months. In my opinion, this is simply a market swing to find support as we have done previously. Investors get frustrated or worried and chase the bid down. I suspect we may touch oversold, the book will flip and we will start to climb again.
Folks here seem to have a very selective memory. There was a very likely scenario here that we faced adding 4 or 5 billion shares below 0.1p. That included £2M finance and the debt for equity swap that would have also been conducted to resolve outstanding liabilities. If you want to talk about shafting existing holders, imagine what could have been with that set up.
Berta - that's under the assumption that the deadline was solely Arthur's to set, which I don't believe is the case here. The deadline has been missed again, it can happen and there is no indication at all that it is for nefarious reasons. In fact, it's been stated that the extension is again agreed between all parties. I don't believe this is a coordinated strategy to somehow screw all us pesky private investors - more likely it is finalising the boring legal jargon which makes for a much less interesting, but all round better, story for us.
Thanks NoEasy. I never really left but found it difficult to keep up on here as of late. I remember not so long ago when we would be lucky to have one poster having a conversation with themselves on this BB. It's good to see many of the old guard are still present though and holding firm for project execution, and hopefully, as you say, we will be talking less of Arthur and more towards actually drilling for oil soon.
Brady - I don't agree with that. We have had a significant rise off the lows but that appears to have been forgotten amongst all the personal attacks today. We could have had substantially more dilution at 0.07p on LSE and be no closer to resolving the Essar dispute - to suggest nothing has changed or progress hasn't been made in the past couple months is incorrect. Jay has called many things correct and I certainly appreciate his posts / information. I think he has been unfairly targeted for what Arthur has sprung on the market with this placing.
Sentiment is king on Nano / Micro-cap stocks. Social platforms such as BBs and Twitter etc. absolutely play a part in that. If they didn't, there would be no such thing as ramping / de-ramping, pump & dumps etc. Whether a single post makes any difference is debatable but not hard to imagine that investors can be influenced from other people's views. It doesn't take much volume to move a stock in either direction.
Yes, the debt for equity swap was detailed in the RNS released on 1st July and within the Prospectus. It was known about. Unfortunate but necessary to clear the books. A chunk of it will be going to Art and employees so I'd expect them to be largely held on to.
It looks as though investors are chasing the bid down - to me it suggests either panic selling or alternatively could be shorts / spread bets open on the downside and they are offloading to make that work. In any case, we are approaching being technically oversold and with big news & interviews expected over the next few weeks. It will turn.
Added a few million this morning as I suspect the majority of the churn following the announcement yesterday and the big rise the past week has been done, ready for the next move up. Certainly the MACD on 30 minute candles is converging with a cross looking to happen shortly, RSI has also settled. Plenty news expected in the next few weeks to keep everyone on their toes.
Building for a strong close. NT to buy as I type.
From a TA perspective, MACD cross on the 30 minute candlestick very shortly, with the hourly MACD converging. RSI has come off from overbought and is settling out in middle ground. Consolidating nicely - signs are good for a strong finish