We spoke to gas explorer and developer Sound Energy. Here are the latest updates from Executive Chairman Graham Lyon. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Pretty unlucky the Atomic owner Tiburn, built up business and as soon as it was time to ramp it up, COVID, then as soon as the deal to sell starts, oil price recovers.
will do shaa
This is an incredible deal
Atomic owner has developed the field to a good point, bought all the topside, was well placed to really make some money and normally would have done, his debt would have been paid off by production ramp up by the proven gas flooding tech, then all gravy.
But insolvent NOP partner stalled him, he had to carry them and they ramped up $8m in debt (a negotiable asset COPL get), when oil price was decimated to negative values, demand stalled he couldnt increase production as no cash for gas injection, so no extra production and no extra cash - no more lending in that period as he was maxed out.
Perfectly timed deal, utterley sublime - catching the 60% WTI price since Sep and soon demand rise aswell once deal completes.
The bopd outlined is just on what they know now - the substantial upside is all to come above this with more drilling - it could be double or more the 10,000 from BFU and Cole Creek identified - stacked reservoirs is a beautiful term.
For what its worth, the clarification from Coper was quite important.
When I first read the response with two "??" I wondered why put that in, when such an important question was being posed at a game changing moment in the companies history.
I did not understand that the said Cathy was externally employed - at a good salary [I had assumed she was part of Arts family group]
It concerned me greatly that the response would contain two question marks.
To my great relief, to now know that they were pretty informal emojis of a smiling face, has somewhat changed my opinion of that interaction with the PR company we handsomely employ.
And Coper thanks also for sharing the secondary communication, it adds weight to the first now considered positive reply.
TBH up until CC's challenge, and Copers reply I was having some doubts, and who can blame me given the historic unfortunateness of the company.
Now I am back to where I was before reading the initial response. To the extent that I will add further to my holdings in the morning.
You have to give credit to Caw Caw, he is a balance to some of the more rampier posters on here.
All entitled to post what they do, but its good to have a view from the other side.
And Tilbun, well you are ace at succinctly putting the commercials together.
Hats off to you.
Good luck to all.
Well spotted from the presentation Tiburn, has you are good at calcs, in light of your post would there be any chance of best case scenario in terms of SP - thanks in advance.
the ‘Scooby Doo linguists’ crack the COPL word salads..
Some extra aspects to highlight from the latest presentation
"31.1 mm Barrels of Oil Equivalent (“BOE”) (24.7 mm BOE net of Royalties)"
Tax/royalties rate around 20% and stable, some tax breaks to offset costs of exploration
"Cole Creek Unit (66.7% WI): Field Limits defined by drilling, Miscible Flood to be commenced upon plateau of Barron Flats Unit production. "
Plateau of Barron Flats Unit production is by Jan 2022 according to slide 16 production incline, so from then Cole Creek production increases.
"Significant upside in redevelopment of the Cole Creek Unit with miscible flooding and horizontal production wells."
Additive beyond the 3,500 bpd target possible. -"Significant upside"
"Federal Unit (Deep): 55.56% WI. Significant Upside in deeper horizons with horizontal wells"
Stacked reservoirs will be explored - under investment to date by Atomic, so untapped reserves and low production - that impediment removed with COPL $20m accordion funding facility, should unlock the significant upside potential - all to come.
no probs PB
AND that is why he did not need a mandatory rns update for the presentation
ALL already in the public domain
Thx Hoping for.
This last 4 months has been a fabulous learning experience here with some very capable and experienced PI's. So many of you have contributed such useful research and information over recent times. I sincerely hope that everyone gets the returns that they deserve.
The monthly expectations that the PSC would get signed. We have had the excitement of the Atomic announcement in Dec. The elation of the term sheet. The days of rises. The days of profit taking by placees. The jitteryness of this week. Well we have made it. Nearly there. The RNSs say we are on. The presentations says we are on. Cathy says progressing as expected.
1 more week my friends.
16th Dec 2020 RNA
COPL expects to complete the acquisition by January 31, 2021, with a long stop date in the agreement
of 90 days from execution. The effective date of the transaction is December 1, 2020.
90 Days from 16th Dec = 15th March (at the latest LSD target) nothing has changed)
16 Dec (Including the 16th as execution day)
Last I read, (which was awhile ago,) Cathy and her firm were paid $7,000/month for responding to investor emails and whatever else they do.
Not sure I have sympathy for a person who willingly takes a public position at a public company, cashes large cheques during the good times and the bad, then has to (gasp) answer email questions from the public about parts of the comms that seem vague or completely omit critical details.
It's literally their job.
I replied to cathy saying thanks and is champagne on ice...
Its chilling chris LOL!
Wel I for one am happy to read Cathy's email.
So can we assume " as stated" refers to all being signed up on the 15th March? Not before?
That's how I took it.
How about we start harassing AM with e-mails... oh wait, that’s already been done
If most investors felt that they knew most of what was going on, 200 of today's 219 posts would not have happened.
Posts would be mostly jubilation rather than mostly apprehension.
This is not me talking; this is the community at large. Take issue with them if you want; I am just the messenger.
*Last minute .com as guys move money from other holdings and start piling on here.
Quite honestly I don't know why people are targeting poor Cathy. We have all information we need...!
I put a smiley face because it's a happy statement I'm making.
Art updated the presentation last week. So next week should be massive as anticipation builds . To me it is more that on these markets. It's all about the last night dot.com and will start arriving as we close in on the date. The big sells have finished so now I can see this rising in anticipation. HSBC above 5% now
Good idea Sparkz, it'll remove a raft of analogies.
Guess it's a simple case of not having anything further yet to report, because they've put in print the 15th.
At least the geography of Atomic lessens the risk of being punched in the face at a PIB meeting.
I’ll e-mail Cathy first thing tomorrow to find out what her thinking was behind the smiley face, clearly an important issue for all..... it’s great we have a crack team of scooby doo linguists on board to really break these sentences down
Aah perfect. Thank you croper.
A smiley face seems suggestive to me as well, but actually in a positive way.
Sincerely wish we weren't reduced reading tea leaves like this.
Guessing what's going on, as ALL of us are doing, feels like "astrology for men": Patterns in trades, emojis in emails, days of the week and hours of the day when RNSes have historically happened.
Seems silly to me that the rules allow for this much opacity.
Also seems to me to be exactly why some investors don't seem to trust the corporate comms, and therefore have chosen not to run the share price up?
Twitter used to even tell us about the price of oil changing, and how that was good news for COPL. Now it is dead as a doornail; just retweeting links to legally-required regulatory filings.
None of it exactly makes me or many others feel a sense of disclosure from management -- as clearly demonstrated by any sample of posts from this board:
-Not many seems to think that the full story on Nigeria is "delayed due to COVID but otherwise no other issues". Which is what all Nigeria pressers distill down to.
-Not many seem to be certain that this will close on the day of Monday, March 15. AS STATED WITH CERTAINTY in a recent RNS!
-Almost everyone trying to guess what will *really* happen -- i.e. reflexively disregarding the written statement from the CEO??
-Investors who read the forums all day have still resorted to emailing the CEO and IR to beg them to know what dynamics are at play, and what to expect.
No idea why this strategy seems productive to COPL, who desperately need the share price to climb so that they can avoid a dilution event and access future equity financing.
You're right Sparkz.
That's partially why I thanked. Croper. From personal experience, when someone shares a response after putting in the effort to contact the company, the number of cynical and inane questions that emerge and/or claims that it can't be true, can be ridiculous.
Fair play to Croper .... Croper should flush any negative response he gets down the c.r.a.p.p.e.r.. (couldn't resist,sorry Croper)
Amazing how a simple response can raise so many important questions
Ls3 doesnt do emijis the 2?? Was a smiley face.. I did screenshot the email and post it on the copl telegram group.