Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Hopeingmore
If you are angling to get back in fair enough! But don’t advise someone to sell for your own gain! Certainly don’t do it buy making up fake info ! Yes the SP is being hammered no doubt about that but this is at last a turning point for the company!
Also you calculations are completely wrong ! The 34 for Egypt was in less than 9 months NOT a whole year as you calculated! It was also in a time when the company’s production in Egypt was at its lowest 5k or there about! Egypt produces decent FCF when you look at it with a longer term view and higher production rates.
Vietnam can also exceed the 6500 mentioned when they fix the compressor which is preventing gas lift wells from operating correctly.
You state no drilling in Vietnam until 2021. That’s also not true we are drilling in Vietnam as we speak! Results expected in 6 weeks time. Look at the CMD Presentation. This well also has exploration upside!
Yes the dividend cut has been a pain but we are finally looking at production growth. Within a few years I expect production over 20k combined Egypt and Vietnam. Next year we expect another 5 wells in Vietnam ! Plus 20 wells in Egypt! That’s why the dividend needed to be cut! Once those wells start to produce we should see cash to start to build and dividends start to increase again! This company once paid 40p in 1 year!
Hopeingmore imagine telling someone “ sell and get what you can and take the pain it will only get worse”! WOW now I’ve seen it all! These boards are unbelievable and that’s why I don’t visit anymore. Everyone should DTOR and not listen to some random “expert” on a BB.
Echo
Your average is low enough that you should be able to weather any storm. I’d be interested in their drilling plans after current campaign. More HAW wells? Production and cash increases to look forward to
Good luck gang! I’ve sold my entire position in AMER and put the cash into PTAL and TRIN ! Hopefully it works out well for anyone hoping for another bid! Good luck all
I see some of the old gang still here ! In Lazza we trust ? Is Taylor Swifts husband still flexing his rig muscles on the dross site ? I remember he claimed he had 4 million shares when this was trading at double figures ! YIKES! What happened to the tap? Is drillahill still trying to convince that this is worth 140p using fag pack calculations???
Gone very quiet recently! I’m still here and fully invested ... I recently added at 9p ... average looking healthier . Where is everyone and what price do we think this can get to in the short term ?
Chris Hutch
Do you have a link for the video? I can only see the presentation!
You were right about 1 thing C! All was indeed revealed soon!! But the problem is that it was disastrous news ... A discounted debt for equity is the only way forward I can see! The company is in deep doo doo
This luck counts character is the biggest contrarian indicator in the market lol! Whenever he pops up on a BB to deramp the share shoots through the roof lol!
Also if he is holding a share be sure to sell (OPHR at 150p , AMERISUR at 40 odd p etc etc etc )
These boards are easy to understand when you know the types of characters to watch out for!
Luck counts if you’re reading this BUY BUY BUY! Don’t DYOR because our research is 1 million times better judging by your investing performance
Redrich
I’m also under water . Haven’t been here as long as you do my average is considerably under water. If it hits 4.5p I’m tempted to average down heavily. Down side is fairly limited at that SP. I’d be happy to take down my average to 6ish
Currently a lot of its production, as well as quite a bit of its reserves, come from the 90% owned Puesto Flores/Estancia Vieja and Puesto Prado/Los Bases fields in Argentina, and work is ongoing to increase production via further drilling, as well as work to open up more of the gas wells which are present on some of these licence areas – as well as a gas to power project to supply all of President’s fields and then to sell surplus electricity generated. It also has producing assets in the US, including East lake Vernet which has been generating free cash flow of $180,000 per month. Based on the amount of potential supply that President has waiting to bring online - up to 1,100boped - it looks likely to me that production is going to continue to grow strongly. Overall, it has in excess of 15mmboe of 1P reserves and more 25mmboe in the 2P reserves category (which does of course include the 1P figure), so the current market cap of circa £52 million plus outstanding debt means that the company is valued somewhere in the $3.5-4/barrel range for 2P reserves, which seems low considering it is in production.
Of course there are risks here currently as the situation in Argentina could deteriorate further, but I still view it as being a fairly low risk country to operate in and would expect the economy to recover. The share price could well go lower in the coming months, but I would still view the current level as offering good longer term value, and without the Argentina problems I doubt you would ever have got a buy in price of anywhere close to this – especially given it has been trading at some sort of discount based upon this risk for a long time now.
President Energy (PPC) has taken a hit recently based on the fact that the bulk of its current oil and gas production comes from Argentina – but longer term that could present a buying opportunity.
The situation in Argentina looks bleak currently with the economy in trouble and the value of the Peso collapsing at a rate of knots - keeping my left over currency after a visit to Buenos Aires looks like it was the wrong move! - but I still find it hard to believe that the country won’t ultimately recover, nor that oil companies operating there won’t prosper in the future.
As recently as May shares in President had been trading at over 9p, but today are just 4.5p on the bid and with a market cap of just over £50 million, so over £50 million has so far been wiped off of its valuation as a result of the ongoing problems in Argentina. These are nothing really new as the economy has been struggling for several years, but recently the rate of that decline has sped up, and on August 15 it led to the government invoking an old law giving it control over oil prices. It froze prices with Brent at $59/barrel, which doesn’t look too bad, but also with an exchange rate of 45.19 Pesos per US$ compared to the current rate of around 56. These measures will be in place for at least three months but have already met widespread opposition and legal action, including by a number of states. Argentina also brought in currency controls, although this is purely designed to prevent currency flight, rather than having an impact on trade.
The company has stated that the changes won’t have any impact on its business, but it is impossible to know just how true that is and it is understandable why some investors are taking a cautious approach. That being said though, the sell-off seems to have been overdone considering the progress that the company has been making operationally and the way that it has been growing, with net production for H1 coming in at around 2,500boepd, and full year EBITDA still on target to hit $20 million as at the last update in early August.
For the full year 2018 there was a net profit of $120,000, although that was largely as a result of deferred taxes, as pre-tax profit had stood at more than $6 million. At the end of 2018 the company did have nearly $30 million in debt and servicing that has been expensive, but it has been substantially reducing it - having paid off the $4 million high interest (12.5% plus six months of US LIBOR) bank loan which was taken out to acquire the Las Bases and Puesto Prado assets - and is left with $4.8 million at 7.5% which it expects to have repaid by next June. All remaining debt is owed to Chairman Peter Levine, who unlike so many others on AIM, has actually put large amounts of his own cash into this company and owns 29.9% of it, so he can only ever hope to get his money back if the company succeeds. Cash balances will have been unaffected by the problems in Argentina as they were held in US Dollars.
Loadsmoney
I request that you apologise immediately! The person you are referring to has written investment books and is an illustrious author! He is well respected on ALL investment forums!
What is actually being sold in Trinidad? Is it everything? Licences, producing assets and rigs etc etc? Or is it part of Trinidad ? I’ve heard conflicting statements
That is the question! Malcy has just removed the shares from his bucket list recommendation. I’ll read the mid year results in a few weeks and then decide. Short term the share price could be under pressure and that’s before you even talk about China trade, Brexit, US market volatility etc etc etc. Could we see 4p?
That’s not such a great idea! Paraguay drills are technically challenging & very very expensive! Best keep Paraguay on ice ! Hopefully we find a partner who wants to push ahead with it
Sold of some ECO today to get ready for yet another top up here! Going to place a cheeky offer of 10.2- 10.3p ! With volatility just might get it ! At this rate I’ll have to issue a TR-1 lol