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once again another day with an attack on the Sp, however didnt drop as much as some had hoped for , were now sat at a year low Sp again , if you can hold at these levels well done your resolve is very strong, Arthur hopefully will reward all LTH,s with a belter of and RNS , he needs to recover some of his massive losses he currently holds,
GLA LTH IM sure Arthur and Ryan between them will get us a deal that can propel the Sp to new highs over the coming months , Stay Safe everyone , production will increase in the 3rd quarter
A very reasoned post , by illusion, remember why you invested in the first place, the Discovery?, the BFU? , the upside?
lots of info to come out very soon,
GLA LTH Watch out for the short attack!!!!!
Morning
Illusion - Thanks for your post, it does help build confidence back up when knowledgeable posters like yourself and Tiburn post your thoughts.
With Copl it is a case of balancing the finances, using our revenue to the best effect making sure that our wonga lender does not impose penalties on us.
When that RBL comes in it will be such a relief for us.
My overview on Copl and its value to say a bigger company looking at us.
At the moment lets say we produce 1500 bopd and by the end of the year lets assume 4000 bopd. So that's a gross annual revenue range of £60.225m to $160.6m.
We are held back in terms of value by our debt. If someone came in for us and would not have the same debt payments as Copl then surely there are 2 values which can be attached to us.
1 Value as we stand
2 Value to another company which would have the cash to plough into Copl asset.
The value ascribed to 2 must protect our investment.
AM has built a personal wall around Copl to give him a great amount of control if an approach was made.
It would be very interesting if an approach was made and it was put to a shareholders vote as If the offer was decent I would have a tendency to vote for it.
From the information I have received from fellow LTH's I think on this board we are looking at a PI holding of around 10% of the company.
Atb
UP
Blood pressure
Welcome back Illusion. Nice post. It will help bolster morale in these confused days.
Good evening Illusion… nice post.
It’s coming and it’s not too far away.
Have a good evening all.
Think we need to leave the technicals to Art and his team, stick to the pressure on your bicycle tires CH.
Well, we have the right team to get the right kit to handle the pressure illusion.
Problems as all businesses have, no worries.
Good post illusion, patience is everything in this game, good things will come to those that wait.
That’s unless you’re making and trading in the noise, in which case, it’s an inconvenient truth.
Sits on hands….
Thank you Shaa,
about your previous post of course high pressure is good ,
but you have to have the right topside kit to handle it that is all ,
anybody who knows anything about the oil and gas industry knows that,
not only does it mean higher production when the topside kit is sorted it also means the recovery percentage from the field will be higher .
Win Win in time.
The problem here is people who do not understand the issues should not be trying to persuade others who also do not understand.
I wonder why people would want to message in such an underhand way. lol.
Good evening illusion, great to see you back on here, you haven’t missed much.
As the SP has been going in reverse, (as with other shares) we have had the usual saviours and some making a guest appearance with one line of doom and gloom - a bit like our friend Baggy that I told you about, lol.
Agree, lots of news to come and if it’s one thing we have learned about AM is that he won’t release news for the sake of it or he feels under pressure to put one out.
Let things run it’s course and the SP will catch up.
Good Evening Everyone,
Firstly I would like to apologise to Tiburn , Shaa et al for providing no support on this board in recent weeks.
Partly because I have been busy , but partly that since the end of the news blackout , the arrival of the Investor Presentation and the staggeringly honest and in depth explanations of our leader in the Webinar , I have had no worries or doubts about our future.
The main question is a simple one !
EITHER YOU BELIEVE AM OR YOU DO NOT.
I do believe, I thought his explanations of the situation, they were both credible and well thought out.
During the Webinar he was clearly wanting to explain everything and would have talked for another hour if RG had not told him they were way overtime, this from a man who does not care about his shareholders , seriously, I ask the question of all the COPL holders on this board.
On the Cuda situation he explained the chosen route for financing it and the reason was to secure
Reserve based lending this year instead of have to wait another 12 months made perfect financial sense to me.
On the Barron Flats Unit he explained that the pressures and performance of the field was way above expectations , the “plumbing “ issues have to be sorted that is all , to raise production
made perfect operational sense to me .
The decision to delineate the discovery to raise the reserves level before the extra drills in the BFU
made perfect tactical sense to me.
https://www.ogj.com/exploration-development/discoveries
Scroll down you will find our discovery and see if you can find a bigger one on land and in a safer jurisdiction !!!!!!!
Look at the details of some of the other discoveries and perhaps you will realise the enormities of what we may have underneath our property soon to be a minimum of 85 % Copl's.
I was particularly impressed with the decision to delay the building of the new CPU by a year,
if the delineation goes well ( and bearing in mind he stated he would like to use secondary recovery in the frontier as soon as possible ), he will probably need a much bigger unit, why waste money now on one that is not adequate for the purpose, (this is also true for the fixes for the BFU as he explained )
So friends do not worry about the games still going on with the SP,
Cuda confirmed ,
the Resource Report,
Reserve based Lending,
not necessarily in that order and the picture will look very different.
I personally hope he already has the resource report from Ryder Scott and is using it to persuade any potential new lenders to give us a large revolving proportion to the loan ,
we may not need all of it if delineation goes well as the financial prospects of the company will be rolling over in their own right.
Remember the delineations wells will probably fall into the exploration category and thus we will be allowed to to keep 400% of production to cover costs before royalties.
So keep the faith our wings will be flapping soon lol.
GLA