Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Very interesting how gas could become a major financial factor for this company. Only a few months ago disposal of gas produced when producing oil was going to cost the company millions to reinject. Now with any luck we will be providing Alaska/Japan/Korea/China with gas, saving on reinjection and earning from selling the gas. If it's announced that a pipeline is going to be built, this SP will go bonkers. I will be very surprised if one of the big oil/gas companies does not make a substantial offer for us.
We need to get a riggle on. We have been lucky this winter with a free drill by 88e to keep the news flowing. I would be quite happy for another cash raise to drill again this summer as I still believe we need to show people a fully functioning and flowing horizontal. We can have all the reports in the world but they don’t have the same effect as thousands of barrels of oil flowing out of the ground for all to see. Plus Kodiak has now been untouched for over two years. That mistake with the concrete cost us big time.
Rediculas pullback we have lost 300bopd due to work being done to prepare for the horizontals. Once the work is completed the oil will come back on. Complete and utter overreaction. At least another 10 wells to come this year all fully funded and no need to raise any money. Great buying opportunity.
Scot we all know that not much is going to happen here at PANR until we get the finance settled. I was really hoping that it would be announced before the updates on the amount of oil we have as at the moment people will just say ‘yes but how are you going to raise the money to get it out’. Get the finance sorted and we will be off to the races.
Hopefully a RNS soon alerting everyone to how positive this is for PANR. Thanks 88e for the free drill last year and the flow test this year, glad after all these years they have finally managed to flow some oil.
Will be very interesting to see how many barrels this will mean for us. Basically every well will have multiple oil layers to draw from. I await troutsnot put down with great anticipation!
Must admit I am surprised that they are working to 6000bopd by the end of 2024. They are currently producing 3200bopd and yet with minimum 3 horizontals, 10 normal well and 2 exploratory wells they are only expecting 2800 extra a day. That would be an average of only 233bopd from the 12 new well. Considering they are expecting at least 1000bopd from the horizontals then I do not get it. I am all for understating and overachieving but that seems like totally ridiculous numbers. I will be mightily surprised if by the end of the year we are not at 8000bopd.
talk now of maybe 5 horizontals this year with all total 15 wells being drilled. no doubt that some will be exploration drills so might not find oil but disregarding the horizontals if they all were to come in at 500bopd that would be 7000 odd bopd plus the 2500bopd that we currently produce and we are nearly at 10000bopd. back of the *** packet calculations but they are making $52 per barrel after costs and tax that's near as dammit 190 million dollars a year. that is a considerable whack for a small company with no debt.
Interesting that the state is also talking about CO2 storage. I guess Cook Inlet is the easy place to store it but a wonder if they can build a two way pipe to the North slope. Current prices are $85 a ton for CO2 storage, this would also be a very nice earner.
Love this company, no drama, moving at speed (15 wells this year) and fully self funding eg they don’t need to raise money every couple of months. Very much under the radar at the moment but has huge potential for the future.
Catwoman4 you really do need to do some home work. There were less than half the number of shares in issue in 2021 and that 4p was reached after a massive pump by a US group that caused an awful lot of people to lose large amounts of money. Be very careful here as even with half decent results the share price will fall again quite quickly. There is so much to do (which will cost a fortune) before the company could even contemplate selling oil or in the company being taken over. Be very careful.
I am afraid I don't have the time but if somebody could put together a short but factually correct statement of all the lies told and the general situation and post it here we could all then use it to bombard news and other outlets with it. Needs to be factual and stand up to scrutiny.
Good find OilBcNu, Biden and his green crew would be the first major hurdle, but it seems they may be on side which would be a huge bonus. I suspect it would also need some of the major companies who also have gas to come on board and push for it.
Don't agree grumpy this is the equivalent to a company having found a massive gas field and should be included in the economics of the company, it should help bring others on board and if we need to do a cash raise it would mean less dilution for us. It is important the company gets it out there now as there is a potential method to get the gas to market and it is only our gas that has the right CO2 qualities without building big infrastructure to allow the gas to be sold to market. This is important news for the company.
Would be really nice for the company to get this positive news out into news with some detail on what could be the impact on PANR financially. How much gas do we potentially have etc. This could help secure funding for the future as companies may look at the oil side as a good in for future oil and gas. Mangrove should be heaving heart palpitations at the moment as this news is a bit like other companies finding a massive gas field. Well we have oil and gas in massive quantities and just need to get it to market. This company has the potential to go to the moon, just got to hang on in.