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Thereās been both plenty of time & plenty of funds to have initiated another RS CPR. Can be seen that the 2020 CPR had a placing raised for it on the 20th July 2020 and that the Ryder Scott report was then available 1st October 2020. So approximately 10 weeks was then utilised.
Our accounts at 30th September 2021 covered $11M cash of which $6.4M was available for capex, so the 10 week time frame could be v.close to completion.
NOOB
due to only chasing reserves on that one , just had a punt and made some
on the anticipation rise. As you know my interest in that area is elsewhere
I expect the CPR is already done, we know from GKP and the shaikan field the CRP took 6 weeks from initiation to preliminary results enough to confirm OIP numbers.
ART has sat on this find for months, his surprise was evident by the 'falling of a chair' comment. He knew he had oil but just couldn't imagine how large the find was. Due to wanting to be 100% before he went to the market with such a claim he would have bought in independent assessors, absolutely guarantee that.
I expect the CPR is being held back to be announced in conjunction with a forward plan or JV, farm-in etc. It is perfectly acceptable to hold it back from the market on the basis that he has;
1. already identified the find, and
2. could be part and parcel of a greater and larger announcement.
Personally, I would be more concerned with building as big a stake as you can now, before this is announced. Rather than all the to-ing and fro-ing of what might be, absolute fact that when announced as a CPR, with or without JV etc. you won't get in here for dust around these prices.
Many, maybe even most haven't been involved with a multi billion find before, believe me when this is confirmed you will very quickly realise that you had an opportunity of a life time, whether you truly made the best of that advantage only you will be able to confirm to yourself later.
Timor leste band aid , Bayu undan and Buffalo target 30-40mbo/e reserves
in both cases , the real deal in that part of the Timor Sea is Chuditch
850-1700mboe (Boil AIM) , Sunrise 1500-1700mboe (Woodside asx) and Kelp
2250mboe (currently neither a license or operator in March bid round)
All pending on Timor Leste Gov , finally giving them a permission to flow gas
after 20+ years of playing hardball with the industry.
Woodside the operator has sunrise on its books as $0 , was valued last March
when gas prices lower at $65+ Billion in operation.
Many long term COPPLERS, also sitting waiting for that ride on Baron/BOIL
2022 The year copplers , boil over lol
:))
Thanks for those words of wisdom JppJ, didnāt once cross my mind that a ādisasterā is happening here.
Good to have researched and knowledgeable posters like yourself on here!
Copl masters look at some other companies, having drill in progress. And learn there. Disaster what is happening here. Pan...
I would also add that I have never in the past talked about JV's, take-over's etc with any stock but logic tells me that when the independent report (CPR) confirms the amount of oil in the reservoir as stated by AM , as I believe it will, and indicates that a large percentage of it is recoverable then it is very unlikely that AM will not be talking with others.
I feel there is a strong possibility that talks are happening already, preliminary talks don't need a CPR.
ADV was a stab in the dark , the main Buffalo reservoir was drained by
BHP and then Nexen , years ago, it was only targeting possible reserves
not a motherload
;))
I was in ADV and even with a 95% chance of geological success it didn't come off. 88e has a 56% chance I believe and I hope that comes off for all the investors over there.
But the lesson is plain and simple, that the huge risk is in finding the oil in the first place and then enough of it to make it commercially viable. The amount discovered here is simply staggering. Given where we have been with this stock its still quite difficult to comprehend that Art and COPL has hit the mother lode, not by design either he admits almost falling off his chair. I would never have put Art and luck together, but here it is.
Apart from one trade, all the decent trades this morning so far have been buys
How many Copls are there? One we talk about is worth ... of sh...
Looks like we have a serious buying, taken Ā£100k in 10 mins, will most likely ramp up as the spread narrows. MMs reluctant to take this up atm but very little selling interest at these levels so that should move us up, then we can let FOMO do the rest.
34p on Ask, probably buys.
I think we are all grateful we have picked a winner and sitting on a ton of oil.
When you invest in companies that are at an early stage then it could even be classed as a little gamble, just look at the poor souls on ADV or AMGO.
Our time will come.
3Ć25k buys surley showing red
Well no big seller on the open and if there is a big buyer they usually turn up after 9am or at 2:30pm, hope this continues. Like most in the know Iām all set with my position, a bit of news will bring in some new buyers. Slow news day across my watchlist.
Morning all, buying and selling where we left off on Friday, mornings are a bit sluggish, letās see where we are at come the afternoon.
Canada interestingly is starting to show signs of positivity.
Ā£65M market cap - surely is can't stay this cheap for long
Hopefully the Geopolitics will favour copl in the coming months. Problems in the Middle East + Ukraine should lead to copl being a take over target much sooner than we think. Chevron+ Exon have a combined mkt cap of near $550bn it would be stupidity for them to sit on their hands when they could buy copl and massively increase reserves in the continental U.S.
Independent confirmation if reserves is easily enough for Copl not when its out of ground.Simples.
Often times the market wants āactualsā which in this case is oil out the ground and cash in the bank. Rumours and then clarification of a JV would also drive the price
Like Iāve said before, I donāt think it will until we start pulling it out the ground in vast quantities, hope Iām wrong but weāll see
That the oil price rise hasn't positively affected the sp here.