Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Oilberta,
Even if you take conservative circa 80 Million barrels net to COPL after 10% option is exercise, current share price is no where close to true value here.
Dont see it.. lurk in low teens until next news
0.25 close I’m going for
How about today’s finish
What price will this finish today up or down
I would caution you guys to use the "best" estimate for the unrisked recoverable prospective oil which is 533 million barrels. That would mean ~80 million barrels net to COPL (assuming they purchase the additional 10% stake). Oil plays are tricky to value right now as the industry has really gotten hammered over the last 5 and a half years. I think one of the most important aspects of this play is Shoreline's presence which is an indigenous company. This should enable the development of OPL 226 to fall under pioneer status which allows a tax holiday on corporate income tax for the initial three years which can be extended for another two. This would make the economics a lot more attractive - this scenario is included in the OPL 226 summary slideshow from 2017. I would imagine day rates have come down since then as well.
Yep. Deal is transformational.
Like others correctly pointed out. Before we had 40% of Sweet FA with no end date in sight to tap into the mammoth +1b barrels Asset. That's just OPL226 without even adding the surrounding oil prospects. Law suit caused further hindrance in achieving the true potential here. With law suit dropped and replaced with today's settlement Deal, we now have a timeline to pursue and monetize value from this highly lucrative asset
Today's rise was just from a very low base price which was priced to go bust.
Deal structured and announced today has turned this on its head in one swoop with value 'Accretion' built in for next 30 years as more Oil barrels come online.
I'm always wary about ex-holders selling out at a loss and then de-ramping (despite a transformational deal) only to justify their sell out decision.....not good taste and defo not mature behaviour.
15% share of potential +1 Billion barrels is 'transformational' once 20% option is exercised by shorecan.
Rift I find it quite ironic you and I have never agreed on a single thing. Previously I was steadfast against your incessant ramping and now I feel like a part of you would welcome this news. I guess not. Guess as a VERY LTH, I’m a bit further along the acceptance curve. Sure, the economics could be a lot better, but it’s entering an exciting time for the company circa LB-13 will be fun to watch.
Btw Copl has no debt as such apart from possibly a few small outstandings.Where else can you find a Company who can participate in potentially a multi billion pound project and probable short term drill timetable who has to front up with no money and yet have an option to grasp 15 percent of the proceeds for years to come! Please enlighten me Rift or anyone else do that matter and point me firmly in their direction.A de-risked multi million pound annual revenue play all for 5 mill mcap! Rather than wasting your time scratching your heads imo there aren’t any that come anywhere near following todays end.Upward and onward!
15% if the first well goes right and $6million is paid to exercise COPL's share of the option to get up from 5% to 15%
I've never seen as big an asset dilution in the industry as this before reducing your stake from 40% to 5% in one swoop, getting a one well carry on 5% in return.
Normally explorecos get "2 for 1 carry " deals or the like, not, ill give you 87.5% (35% of COPL's net 40%) of my stake to get a carry on the remaining 5%.
It just doesnt make sense. IF the oil price recovers strongly and the first well appraises right, and COPL pay up the $6 million roughly for the other 10% then the economics start to look better but thats on top of more IFs such as will government extension come?
Art will pump this like its the best deal ever
Typo - 15 percent
I am not going to be quite as polite Mr Positive about this bitter and twisted ex holder who just won t let it go and is intent on talking down this incredibly good deal for our company and it’s shareholders.What bit of this don’t you understand? We will end up with 25 percent of this vast project for No Outlay ffs.Before we had 40 percent of sweet FA. no end date in sight for a drill which we would have to pre-fund to get off the ground and realistically could not.As mentioned all the blocks to be put together within 35 days and the green light given at govt level a formality now imo.Glad you did well on your other investments but time to jump on your Honda or Chariot and rev up back over to them rather than stir the sh—ite here with your misplaced and incorrect negativity.I repeat it’s an incredibly positive outcome for a skint minnow company so either.buy back in or basically fook off for good cos talking it down will not mean you catching a lower re-entry if that’s your motive as once further details and specifics are added and the market absorbs just how transformational this news is this is only going one way in the coming weeks.Rejoin the party v soon or as I say enjoy your Chariot ride and leave us to our own devices.