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@Ironhide correct, but you will be crucified for saying it.
It does all sound more probable than not. If we have a decent comercial discovery plus Nigeria, plus production increases continuing, then clearly this is going to make shareholders a lot of money. Really we just need one of those to work out well.
I'm hugely pessimistic about stocks though! 9 out of 10 companies I've followed, and some I've invested in, have disappointed despite seeming to have everything going for them, but still, I'm glad I added today at 0.32, thought I'd missed that chance.
Despite the churn, it feels as if the company at least is on fairly solid ground compared to most small-caps out there.
Starts slow and nervously tentative, but persevere, it all ends tearfully well.
Bit like your wise investment here....
https://www.bing.com/videos/search?q=Obese+Lady+Opera&ru=%2fvideos%2fsearch%3fq%3dObese%2bLady%2bOpera%26FORM%3dVDMHRS&view=detail&mid=3E9BD77C41BD55F8FDF03E9BD77C41BD55F8FDF0&rvsmid=D5F98E191D3D5120AF7FD5F98E191D3D5120AF7F&FORM=VDRVRV
Probably just means they will optimise which ever layer they see fit for best production
at this time from the pilot vertical well
The long game for the deep layers is Horizontal wells , which are usually classed as will
produce at x3 to x5 the vertical rate on the same field, the best I ever saw in a result was
x 12
So imagine our current pilot well runs a layer at 300bopd with a true Horizontal that these
days they run anything from 1000-6000 ft the potential of a new Horizontal per well
The individual reservoir might be 80ft in the vertical plane but the say a 2000ft Horizontal
directionally fed through the meat of the reservoir could be exposed to the entire 2000ft
in the Horizontal plane
Another option for the pilot is they could drill a side track offset horizontal on the layer
of choice not a true horizontal but would still give multiples of exposure compared to
the vertical being perforated
That will be down to those currently testing and their analysis of the results as to how
and what to do next and when to go directly to a given layer with a true long horizontal
section through the reservoir having the potential to gush thousands of bopd per well
The better the vertical results the more exceptional the potential from modern technology
Horizontal wells as said most keep drill estimates at x3 to x5 but in reality many leave that
figure in the dust
but better to say pre drill we are optimistic of flows in the 1000-1500bopd than get your
neck chopped of for ramping we expect 5000bopd per well
Bit like Nigeria the Essar statement opl-226 is for target 5000+ bopd per well but the
real estimates from other fields and drills in the area run up to and beyond 20,000bopd
so again being conservative with expectations
We have a diamond in Copl America but if Essar ever get to their planned 3 initial drills
on the first of 4 discoveries at OPL-226 with 18 follow up PRODUCTION wells planned
Copl takes up its option and could have 15% (shorecan 50/50 jv 30%) of a FFD resulting
in a field producting 100,000 - 200,000 bopd (15,000-30,000 copl)
So Arty came to the market a few years ago saying he chose the MAIN MARKET not aim
as he wanted to build and initially grow a mid tier company with a $ billion+ market cap
Took his sweet time but if Copl America stays on track and that Essar plan gets going
that dream could happen very quickly
:))
@cawcaw
agreed, need a fat lady singing from the Deep to call it
@Tiburn the bore would have been a mess as soon as they intersected the pressures, gases, and liquids from their own production formations uphole.
Hence the need to case it and carefully log and test each of the 6 tops in Fed Deep. Not sure I buy into a "they know more than they're telling us and this is secretly a gusher" narrative.
'"The testing program will lead to initial production "
Not may or could or its expected, but will lead to initial production'
I see. What is the word 'initial' intended to convey in this sentence?
Nobody has called anything wrong YET
Until the level playing field restored , who knows where we could end up
asset worth over £204m at local sale prices
Now have more reserves coming from Deep drill development
Nothing factored in at current prices
Still think our first target had to be to match our peer Oil and Gas producers by market
cap which for our share base currently would be 1.31p - 1.68p
Canada on the brief blip in over 10m daily volume had the equivalent of 1.44p on trades
but mostly ran book through below, before lack of volume sent in back again
0.010 = 0.58p
0.015 = 0.86p
0.020 = 1.15p
0.025 = 1.44p----------Highest prints I saw (Caw Caw / G you see any higher ?)
0.030 = 1.73p
0.035 = 2.02p
Now if they can get to 1.44p on a 105 million shares traded ,imagine where we could
take them with a positive buying herd on great news and a 500m-1B share day ?
They got to my peer prices prediction on little volume , you think we cant ?
:))
lokan
your right to be cautious, nothing certain in this sector
As HFB outlines - COPL know a lot more on this well than they have informed us
"The testing program will lead to initial production "
Not may or could or its expected, but will lead to initial production
Perhaps some form of LWD used, or just Southwestern view this is a commercial discovery that can go to production.
https://www.sciencedirect.com/topics/engineering/logging-while-drilling
"Logging while drilling (LWD or Measurement while drilling (MWD), the terms are used interchangeably) is a general term to describe systems and techniques for gathering down-hole data while drilling without the requirement to remove drill pipe from the well. LWD offers similar functionality as wireline logging with differences in data quality, resolution, and/or coverage."
People reading these must be thinking we are Barmy but HFB, learn to master***.
Come in handy!
@tiburn I'm sure that it's a discovery, by the technical definition of that word.
We also know that plenty of oil "discoveries" are immediately shut in and abandoned.
Because there is more to an economic well than cuttings that smell like the tank farms south of Edmonton.
Here's hoping.
no he get GF to do it for him
with bleach and long scissor nail clippers
:))
Very good HFB.
Man who scratch A**E, no bite fingernails.
number of individual trades today 22 pages matched Tuesday and Wednesday put together (10/12)
so plenty of other trading going on again
Fingers crossed this week has left only fumes to blow away if news lands next week GLA
:))
Take your hands out of your pockets Shaa
that's too much positivity lol
you need a good rise to get them idle digits to work lol
Confucius said man with hands in pocket feel ****y all day
and go blind like he did lol
:))
I assume people on here may have an agenda, and I realised that these boards will be far more useful if I neither trust them nor resent them for it.
I do wish I'd sold out at 0.6 on relist, then bought back in lower. But thinking about it, no one would advise this message board to do that even if they foresaw the dumping, which in hindsight was perhaps foreseeable at the time. These boards will never be so altruistic, because if everyone tried that trade, no one could. So there's maybe a limit to how helpful even the most helpful people are going to be!
@shaa @ironhide
We need you both, otherwise it's just everyone agreeing with each other. It's all fine.
Positive about my investment iron, couldn’t give a hoot about you and your crew.
I had a positive feeling after last Friday, as I have a positive feeling about next week.
Some people’s opinions differ from yours - get over it.
Ramp crew ironhide do you mean investor who believe in the company and discuss that because they have put there hard earned money into a investment not for today but the future. ? I don't see any ramping really if you honest don't think this should be 1.2p at least then I don't believe you realise what copl have at the moment. The share GAME is crap. Oh well 10p this time next month (now that's a ramp )
Thankyou hopingforbags, Tiburn.
I just recall reading RNSs that say things like '... announces a non-commercial discovery...', so I'm cautious.
But you are right, it sounds very promising.
Yes ironhide, investors posting positives, then announcing they are selling after a tree shake and come back to deramping.
One good news when the markets are closed - you stop posting, lol!
Bliss for 2 days.
Iron makes you think are some of these regular posters part of Arts team ? This just doesnt seem right to me , something stinks !!
lokanrej
yes - its a discovery
I can only go on the data in public domain
last RNS
"Oil discovery at the 100% working interest Barron Flats Federal Unit (Deep) exploratory well expected to open new field developments. Six (6) oil bearing sands totalling 246' (net porous sand)/282' (gross sand) intersected. Production casing is currently being set to total depth of 9,220'."
o" Barron Flats Federal (Deep) 100% oil discovery to be tested through casing. The testing program will lead to initial production and define a further exploration/appraisal and an exploitation strategy for the targeted reservoirs"
246 ft of net sands
discovery mentioned twice,
the testing program will lead to initial production
just testing to decide which of the 6 to go for in exploration terms for horizontral drills
also last interview AM calls it a discovery aswell
You can wait on flow rates announced, drill campaign planned, or believe what they have said already - this is massive, hence why it was mysterious it not being highlighted, which made some think it wasnt a real discovery !
Called a discovery , so they are happy the oil staining during drilling probably the
Shannon is at least viable for a depth and volume of saturation, could be all 6
but highly unlikely , the stacked pays in the USA very common but sweet spots for
each reservoir tend to be spread out
Anything more than 2 of the 6 layers being commercial at an individual result would
be a cracking result
As all the new wells drill they will step out and test for other secondary and tertiary
reservoirs above and below the Shannon production layer, each drill with some
seismic will define where best to develop each of those layers across our acreage
The positive its a discovery should mean our reserves base will also rise soon
but at the end of the day
UNTIL YOU FLOW YOU NEVER KNOW
have had a 6ft layer in the USA Texas Eagle Ford gush 2,000bopd plus and a North Sea 600ft
play officer dribble , heavy oil and could not flow more than a jam jar lol
:))
I am expecting a tree shake at some point, SP might be higher then at present but we will get one - just to grab some more as the wavering investor will throw in the towel.
The same investor who has sold out will be back on this board deramping the share - a form of self THERAPHY to convince themselves they made the right decision.
Seen it so many times before.