Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
SEA7 . Yes of course he can go ahead with acquisitions there was no argument there and that what we bought into , the company keep an eye open for new opportunities . But everyone here believed that was only going to happen with increased production and cash flow . Not as we are , with reduced production , increased dilution , a share price at an all time low and on the bones of its arse . This new venture is going to cost money up front . Even transport costs of which ever
rig they use and manpower to operate . Bare in mind also the delivery date for the BQ500 was December 2018 , over a year ago so things may have changed. AC is going to gamble everything on this and fail . I worked in the same region and know how much it costs to operate there , even for the multinationals .AAOG investors are now wondering where a lot of the money has gone , well it has found good homes . How and why do we need to gamble on this when we need everything we have for AZ and a perfectly good well ready to drill in C30 . Still waiting for approval or is it just a lie . The BD260 was being taken down in November so where is it now?? What of our much touted own gear is currently on C37 and fitting the plug or the stimulation activities AC keeps promising . WTF is really happening here .
AM12345 . "Zenith expects that, following the installation, and when the well is placed in full operation, stabilised oil production from well C-37 will be approximately 250-300 barrels of oil per day without stimulation. " Nothing to say when this work will be carried out
"As announced on October 9, 2019, the Company plans to perform a series of stimulation activities to progressively further increase productivity from the Middle Eocene formation. " So two months late they just announce the same thing .
ZEN don't do RNS's . They do wish lists .
AGEOS . Yes that wold sound like a plan , but rumour is as soon as its a done deal ZEN will want to get drilling straight away . If there was a BQ500 in the frame then they need to get their finger out . As fa as I know via rns , I don't think that they have one ordered only talked about it . If any money had been transferred it would have been in an rns . Because it hasn't and knowing how long it took to get the BD260 I don't think the BQ500 would fit into any time frame that they ae no doubt proposing .
Yes . Very concerning . It feel like he has given up on AZ , that Socar are running the show . I don't think thee is any trust left here at all . He is talking lie this Africa thing is a done deal . Perhaps this is why were on a news black out , maybe the BD260 is on its way . If it is then then shareholders need to step in . If he cant make a go of it in AZ then he has no chance on the West Coast of Africa . If AC has figured out a way to jump in , grab a few million , then bail out then so be it . If not then he has lost the plot . No walk in the park for the Tilapia drill , 20-25% cos . The only thing to come out of his foray into Africa is ZEN will finally go bust . ZEN now need to come clean , stop the ***king lying and tell us the truth about C30 and C37 . We had all the **it before about tendering for rigs for C37when all along they knew they wold wait for the BD260 , before that the complete failure of the esp program that they strung us out on before telling us . All in my opinion of course but if the BD260 is going to Africa then he better tell us now .
RH . Yes , be good to hear something . The raft of good news that was supposedly starting months ago . Anything from AZ would , a picture of the A100 doing nowt would still be better than this . But lets face it , we are all doubters at the moment including yourself . We need some activity ongoing that is substantially going to increase productivity , C30 , and if we are hearing nothing then nothing is happening . They must think were all daft to believe they have been waiting a month for a signature . This is starting to get beyond a joke now .
To you maybe but to the rest of us the drivel you have been spouting for the last few years is irrelevant to what is happening now . This has always been a no hoper for you but not the rest of us who still believe ZEN should be able to pull something out of the bag . The current direction is confusing because we don't know the reasoning but that doesn't make it wrong just means they need to stop ****king about and enlighten us
Resourcehunter . Good you are putting on a face of positivity perhaps to quell your own doubts but the "trashing garbage" is what they deserve and still it hasn't woken them up . A long time ago AC admitted that comms with the shareholders had been bad , it started to get better and now here we are again . The AZ operational updates have been pretty abysmal , lacking in content and vague . There was a plan to put a plug in C37 but nothing defined as to when that work would start . They were dismantling the BD260 in November , only recently we hear civil works are completed on C30 and we are waiting for Socar to inspect and allow drilling to commence . It doesn't take this long !. Does that mean the rig is there and set up? I don't now but we shouldn't have to second guess what is stated in an rns . Despite multiple requests from many shareholders for pictures or a clear update we have had absolutely nothing . It is ZEN creating the doubt that is in all our minds and they know it . If someone asked me what ZEN ae doing at the moment and the plan moving forward I would have to tell the truth , " I don't have a ******* clue" . But I am hanging on and hoping .
Magtalo . Is that your get out clause , okay , shame though as I was wanting some light heated fun in between serious posts . Democracy and freedom of speech ?? of course its tolerated . But numpties aren't . So yes , just save yourself from any more confusion . Remember , try to be original . Merry Xmass , ho ho ho .
Well at least I cant complain about the minor recovery in the sp . Be nice to hope that it holds but I am afraid on past history it wont . Production increases from Az are the only chance we have to increase the sp . The market fully understands that you don't get something for nothing and it ends up costing you big.
orjones . Angela highlighted something which has been a concern of mine . $2 million [up to - which means 2] that ZEN are going to have to fork out for a signature payment aside from the cost of the license . All before any talk of getting back the 5.3 million . There is likely going to be a lot more payments from ZEN that they don't know about yet . imo
In the bag and then dump this Congo fiasco . Job done . .If people are considering the plight of SNPC and deliberately withholding money because AAOG don't have enough to progress then maybe we should think of our own situation . We have already stumbled with regards the terms of the REDSA , if Socar think all our resources are now going to be focussed on Africa then why shouldn't they follow the same route as SNPC . ZEN need to crack on with C30 and make sure the BD260 stays in Az fo the drilling program . If they can do this I probably would not have much problem with the Africa deal . Would keep the shareholders and Socar happy . But I don't think they can do it without it adversely affecting operations in AZ .
EZHIK . Don't be too hard on yourself . In hindsight yes but at the time the story was good . If they had been competent enough to follow though then things would be different now . The story and potential is still there and if they could maintain focus on AZ instead of all this other *****cks then there is still a chance to pull it off .