Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Looking at the CPR map we can see lots of "T" and "CC" one mile units.
I'm not sure what understanding we have of these? But I'm guessing the drilling of the 3rd well thats planned is one of these? But with ideal laterals that are likely 2 or even 3 miles long it must involve a neighbouring lease to maximise? So I'm guessing the permit has been applied for in a different name (not Rose/Zephyr) and there will be a split on capex & revenues
One of the long list of questions i sent to Colin. He's promised to answer as far as he can via RNS & presentations.
https://twitter.com/tima441/status/1571401716616110081?t=Vml8vao83WA4vuaG93cqgA&s=19
CPR from 26Apr22 is worth re-reading
Paradox 30.7k acres evaluated then out of 37.2 held vs total now held 45k.
So the CPR was only on 2/3 of current acreage
Non-ops ~225 wells by end 2022 with revs $35-40m
https://www.lse.co.uk/rns/ZPHR/paradox-basin-reserves-and-resource-evaluation-j9l3u59qvkrhb86.html
CPR was very cautious leaving enormous space for future upgrades once further drilling proves field delineation, enhances probability & moves reserves from possible/prospective to proven & probable & "chance of success" also upgraded. CPR used a very modest 5-15% recovery factor.
" The Sproule report illustrates potential contingent and prospective resources worth well in excess of a billion dollars."
IN EXCESS OF A BILLION DOLLARS!
acreage has since been increased.
Mkt cap barely reflects the value of the non-operated assets. The Paradox is given free!
Hi Adon
no, I have not asked about water. I know its previously been stated as not an issue but you may as well pose the question again! I think there are no issues with the supply of water - or the disposal of brine.
environmental matters are fortunately partly helped by this area being an old missile test site and desert.
i think they're due to do a major overhaul of the website and hopefully we will see that in near term
yes, feeding it back to Colin.
I already sent him a long list of questions to help frame where i feel there is a need for information and to set expectations.
I got a very positive message back that re-assured me he would do his best to answer them via RNSs & presentation(s)
I don't often post here - sorry! as i mostly use Telegram & Twitter.
But I've rebuilt my position this year to my biggest position.... having been invested since 2019. Suffice to say Im extremely optimistic for 2023 (as well as shorter term!)
Ezhik you may be right. I used my timelines partly on the 16-2 timelines after permit. which was followed by very rapid mobilisation & drilling.
once i've taken feedback i'll offer it back to Colin and ask him to set our expectations correctly!
Potential newsflow? Feel free to add or offer alt views. I've suggested timelines but open to corrections:
Short term (to year end):
Interim results (by 30 Sep)
Followed by webinar update & updates on plans for 2022/23
36-2-LNW-CC
Federal licence (by mid Oct)
Rig contract (by end Oct)
Mobilisation/spud (end Oct?)
Initial test results (end Nov?)
36-3-LN-C9
Federal licence (by mid Oct)
Rig contract (follow on 36-2)
Mobilisation/spud (end Nov - mid Dec?)
Initial test results (end Jan?))
16-2LN-CC
Extended test update plans (with interims)
Extended test start (Q4 2022?)
Updates on flows (end Dec?)
Connection to gas pipeline (Q1)
3rd planned well
State & Federal licences (by end Oct?)
Rig contract (follow on 36-3?)
Mobilisation/spud (Jan?)
Initial test results (end Feb?)
Non-ops update
Q3 update (Mid Nov)
Infrastructure
Update on pipeline & plant recommissioning (Q4)
2023
Multiple updates (may result in monthly operational update?) on 10 wells programme + updates on reutilisation of 5 wells added Sep 2022...inc:
Licences
Rig contracts
Mobilisation/spud
Drill outcomes, tests, flows
Infrastructure updates
On pipeline tieins & plant etc
Production updates
Non-ops (Feb, May, Aug, Nov)
Paradox (from Q2 may see monthly updates?)
Cashflow
Cashflow from Williston expected to self fund all plans?
Success in Paradox should result in very significant excess cashflow.
With predictable cashflow there is no reason why some level of debt could not be used to support Paradox development?
Leaving excess cash. If SP is not reflecting a "fair" value I would suggest it could be utilised for share buybacks- ahead of dividends
Recognising that sentiment was hurt by the financing at end last year... and perceived slow progress this year (imho unjust perception ... more wrong expectations that the co perhaps could have helped set better).
But I feel we are moving past that hurt sentiment into new and news rich period!
If Paradox delivers as hoped... and on sort of timetable above ... I would hope we'll see new highs (for starters) with outcome from 3rd well
Ufuk .. good question! I have spoken to the CFO on this... he said:
For Laguna Verde, CTL has a mix of licenses held directly through an option agreement of licenses covering the lagoon and surrounding areas. An option agreement is a standard agreement in Chile which allow a company to own the licenses as long as they comply on a yearly basis with the terms of the signed option agreement; CTL can explore on those licences and the people whom they signed the option agreement with cannot access the land and/or cancel the option as long as CTL complies with all terms. Again, this agreement was subject to significant due diligence prior to the admission on AIM. Reference CTL’s Admission Document, pages 57 and 249-250. You will see on page 249 that the Company’s wholly-owned subsidiary is “granted a unilateral and irrevocable option to purchase, at its sole discretion” the mining rights until April 2026, provided it pays the amounts when due. This is all fully in hand with the relevant payments being made when due and future payments are being budgeted as the projects moves through its different stages. There are no issues with our Laguna Verde licences. And there are no vendors able to acquire anything on CTL’s licences.
Further information on the option agreement: The option agreement was signed in April 2021 after detailed due diligence by both parties. The vendors are a group of well credentialed local businessmen with connections to the mining industry, but no experience of developing and building a mine, The vendors sought the ideal partner that would develop the project, as the option agreement payment terms are heavily incentivised based on the construction and production phase. CTL were selected by the vendors based on their ability to bring projects to production. Both parties are well-aligned.
The option agreement has a period of five-years with construction required to commence by the fifth anniversary (April 2026). However, there is a mechanism in the agreement whereby extensions of 12 months are granted if major milestones, being PFS, environmental permit or production permit, are delayed. CTL certainly doesn’t expect this to be required but it does add flexibility. In the meantime, the Company moves forward with its work programme, intending to commence the construction phase within the next two years at the latest.
Tim Adams:
https://www.abstractsonline.com/pp8/#!/10476/session/678
https://polarean.com/about-polarean-imaging/events/
At lots of events in May... and beyond
ATS 2022 International Conference Home
SESSION Poster Discussion Session. B28. : EVALUATING LUNG FUNCTION WITH CT AND MRI
16th May San Francisco
Seems to be several posters/sessions relating to Hyperpolarized 129Xe MRI
#AGL @Parsortix
Another 2020 de novo application has just gone up as approved at FDA. Applied for on 20 November 2020 and approved last week.
Looks like a maximum of 2 remaining from the 64 lodged in 2020, one of which is for #Angle #Parsortix
https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpmn/denovo.cfm?id=DEN200072
So the trend of (a) delayed @US_FDA @FDADeviceInfo applications being ones that are approved, and (b) 2020 de novo applications now being focused on at the FDA for approval is continuing - that is 3 in the last 1.5 weeks.