Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
It's the Oil / Condensate combined with the 100% interest that really turns this around for me, given the re-ignition in Oil prices and the forecasts for it to continue rising.
_______
'comprising 55% light oil/condensate'
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In the same way, that a Copper resource can be borderline economical but with the presence of a few grammes of Gold, it turns it into a very profitable venture.
The 170 Bcf was for a 45% interest, which equates to 370 Bcf with the 100% interest.
:o)
I'll correct my own post .... should be £500 Million on (0.5 £Billion) on Gas and £750 Million (0.75 £Billion) on Oil for the previously listed reserves.
More to the point, OEX believe this is a multi TCF resource, so plenty to play for at roughly £1.5 Billion per Tcf of Gas.
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Oilex Ltd (the Company) reaffirms its commitment to unlocking the multi TCF in-place tight gas potential in its onshore Cambay Block, Gujarat state India.
Gordon
Not the full facts there.
One of the reasons for changing the 'reserves' to 'contingent', was:
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) a change in economic assumptions related to lower gas prices being realised because of the world wide fall in oil and gas prices;
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Where oil dropped to around $30 and is over double that now and forecast by Goldman to be $100.
The 3P reserves listed then for a 100% interest, which they have now, are valued at £ 1.5 Billion for the Gas and £750 Million for the Oil at todays prices.
'As Cambay is seen as a massive strategic gas reserve for India that they needs to be developed'
Oil not to be ignored either.
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With all the proof-of-concept objectives having been achieved, a significant milestone has been reached towards creating a profitable and sustainable business. It is also a first step for India, towards improving its domestic petroleum supply by using multiple fracture treatments in horizontal wells that have transformed the energy equation in North America. Oilex is proud of its first mover position, competitive advantage and achievement in initiating development of tight oil and gas using this technology in India.
The results clearly indicate recovery of significant volumes of oil and gas can readily be achieved. Importantly, Cambay-77H and the model, confirm that the tight Eocene formation in the Cambay Field is amenable to this form of fracture treatment, leading to the conclusion that the Y Zone can be commercially developed with this technology.
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:o)
Double post .... or just a bespoke form of tourette's..
Haha !
:o)
Bailiff
If it's boring, best ignored then.
Haha !
:o)
Terrier
Think you may have a vowel awry there.
:o)
Bailiff
What does it matter whether one other investor or trader buys or sells ?
It's irrelevant.
ASX is mostly irrelevant on this, it follows the Uk, which is the main market for it (where it's traded the most).
Well don't forget on top of that, global Gas prices have risen roughly 70% since July and Oil has nearly doubled October / November and is forecast to hit $ 100 a barrel by Goldman, which is a 50% uplift from the current price.
Masks
Which is £5 Billions worth of Oil and £2 Billions worth of Gas sales value, in Contingent Resources.
£'s not $'s, for clarity.
Gas prices in India are about to increase to around $1.90, so they'll be running around 20% lower than the Henry Hub price of $2.50 but above figure has taken that into account.
Not an insignificant amount to have a crack at. :o)
Agree Masks.
Far too much conclusion drawn by some based on their 30 minute trading window.
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chris akers
The Fastest Growing UK Sports Tech Company. You Never Heard of Yet! Low6 which is already valued at £50m and destined to become a Unicorn.
Mirasol
You do seem most upset that the value of your holding is increasing, which is a rather unusual phenomenon.
Bless.
Ranger
An 'uproar' is unlikely then on that basis. Goldman forecasting $100 Oil.
Yes, that was a touch disrespectful, 'amateur investor', albeit I think he wrote 'trader', a bit of a lack of attention to detail there, but never mind.
I don't think he was justified referring to you in such a derogatory manner.
I believe your intentions and abilities have been deliberately overlooked and you should have been referred to simply as 'a troll'.
Far more appropriate.
ZYX098
Gibbs Rule # 51