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Pump up the oil pump up the oil
Pump it pump it pump it pump IT
We are stuck in limbo as the SP will not budge upwards, which is obviously absolutely pointless.
Not in limbo at all. Absolute rubbish. The company is pumping oil which is tremendous progress from a year ago. There is no reason to think otherwise. You’re only in limbo if you expect an oil company to be fully developed after a few months of going live. Usual spreading of negative sentiment from the get-go. Leathal will be here in a few minutes now. That’ll be Leathal who derides people for saying that the negative sentiment generated on a board like this can affect the SP but who spent months attacking other posters for ramping the share an attempting to inflate the SP! They are working together.
Never mind Bolton.
Maybe Winter in Daytona?? COPL could make it happen.
Nice 3 to 5 percent blue day please. Happy Tuesday from a very wet bolton....
$83 a drum keep on pumping 24/7
Another day stuck in limbo…
Far nicer & more constructive arguments today with both guys bringing credit to the bb. Thank you gents.
Not totally 100% swayed though by either argument though & suspecting a possible middle ground ie. a combination of AM playing obtuse and of possible background negotiations.
AM indeed comes across as a bit of a wildcard but also as quite magnanimous in his dealings; eg.Atomic Senior’s package, which i tend to think may again happen with his fellow countrymen.
Two further points though that intrigues me with Tiburn’s argument of radio silence :
1. Last fig’s given were 1600 bopd net to Copl
& so therefore 757 bopd to Cuda
Who have Q2 netback of $18 bbl, so revenues $409k
but who are reqd. to pay Tallin $400k/month till July 2023
Otherwise Tallin takes Wyoming assets.
The increase in WTI greatly exceeds their hedge so they then have to pay extra from their $18 netback to cover the increase in royalty payments which are tied to the WTI then bringing revenues below $400k/month IF the flow rate of the last figures is maintained.
2. Would the O&G Authority allow unknown 3rd party (ie.Tallin) ownership of an oil & gas concern which suggests their liens may be slightly dubious, imv.
After releasing the 1600bopd figures, what was to then stop AM from extending the ‘renovation/upgrade’ process and so maintaining the break point <$400k, for Cuda payments ?
Certainly not in politics, I actually work for a living ;)
I already admitted I don’t blame you for doubting, as I also have doubts of my own, hence why I won’t bother with my source until I can corroborate it with public information. But I thought it was important to bring up as it is driving my thinking/argumentation on the subject.
On that note I likely have some other information that you may not have found in your search which has begun to make the ownership situation more clear. Any idea how I can share files easily on this board?
Arthur has "pushed" the ARC Note Three times in three days. Clearly he endorses every word of it. Why? When it would be equally easy to release an RNA himself giving that and much more info.
He wants the SP higher so why is he si coy?
There is only one possible explanation. By releasing the datA we all want to see he would jeapordise the very deal he is now negotiating. The ARC Note is a cry for understanding. It is saying please give me a little more time. Then I will reveal all
Your not in politics at all are you Give? :)
I dont have that information to hand but i will get back to you....
that one is up there with the dog ate my homework
so the well is 100% COPL owned - we both agree that
the lease is CNOOC 15% but they dropped this drill, so the 100% mentioned is only for the well as its not 100% of the lease in any cicumstance
As to CUDA now not having a share of this FD lease as per your unsourced brand new data that only you it seems are party to - we await your source data or when you may be inclined to share...... until then the position stands and as in public domain - CUDA do have a WI in FD and it would be part of the sale value, so AM silence is indicative.
The source is AM.
Fair objection, I have to inclination to post such information directly here, but don’t blame you for not believing it. I have my doubts about it as well, but it is the stance being taken by our CEO. And theoretically that information would already be public info as any payments and agreements would be public record. I am currently in the process of digging through CUDA’s SEDAR filings to attempt to verify this, as of course no information from atomic is public.
Thats news to this board - that only you have discovered - we are very well researched here so I find this difficult to believe frankly.
again - please post the orginal source where that is stated please
if an email to you then you can understand this is not reliable information and you could have just made this up to suit you argument
so no - until we see the source we are not back to AM’s silence not having any impact on CUDA’s WI value
When AM’s response to clarifying WI in Fed Deep:
“ We do have 100%, as it turns out Cuda did not have an interest in the lease when we delved into the records as you can understand we have issues with them. CNOOC requested not to participate below the Shannon in the miscible flood unit. So a big score from our side as we recover 400% before the Chinese come back in for their 15%. The ARC report is correct. It will get clear as we go forward. As we have a suit against Cuda the lease records and past accounts were looked at. Seems Cuda never paid their share of the lease when acquired. A surprise to them too.”
So we are back to AM’s silence not having any impact on CUDA’s WI value.
Good morning everyone , missed last nights interesting posts,
Firstly Give way back in march it was stated in RNA copl's interest in,
Barrron Flats Deep federal Unit - 55.56 % therefore - cnooc 15.1 % leaves Cuda with 29.34%.
So Tiburn is right with information we have received officially , the others declined to take part in this well only,
this is one reason not to let any information out about this drill as potential purchasers of Cuda would be entitled to take part in any future deep drills.
No RNS selling the WI is more believable than your made up counters frankly - come on!
"When confronted directly with a clarifying question, Art insisted that CUDA has no claim in FD."
Exactly where was this stated!? post the source, or is it in some conversation or email you claim to have had, therefore totally without proof.
Good we agree that CNOOC declined on this well, but your saying - still - that CUDA didnt do that, they sold the entire WI, when you know it far more likely they also just declined on the well and have the exact same positon as CNOOC - they retain the overall field Wi but not for this well.
CUDA are totally strapped for cash - issued RNS on their Alberta sale and it falling through for $2.5m - if they had sold the FD WI to COPL as a seperate sale to BFU and CC they would have RNS this cash return, what would it be worth? only AM knows as he controls the info - how would CUDA know fair value without this info? they wouldnt, and so would not sell it, but wait until news comes to assign fair value - AM isnt allowing that news to be released - and SWP are under no oblgation to provide it to the data room, NDA or not.
Think wildcard is putting it nicely and Tilburn obviously agrees to some extent calling it spin.
This is one of the big problems we have here, Art will not tell the truth, constantly spins (actually flat out lies) or just simply does not inform and that is one of many reasons our shares are valued way under what they should be as the market has zero trust and rightly so.
You may be right on the working interest in Federal Deep, that was my understanding initially as well. When confronted directly with a clarifying question, Art insisted that CUDA has no claim in FD. And again we agree that CNOOC has WI interest in the field as a whole, but simply declined to participate in this most recent well.
And my comment about him being a wild card is in regards to my concerns about his past. And I’m am certainly not making that up, his adventures and missteps at Oilexco are well documented for all to see. So I don’t feel it my position on him has changed.
"My understanding of AM’s claim regarding CUDA is that they never had a WI in Federal Deep to begin with, which wouldn’t require an RNS."
They do have WI in FD, check the prospectus page 18
"There are UOAs for each of the three Unit Areas. In two of the Unit Operating Agreements - BFU Deep) and Barron Flats Shannon there are two other partners – Cuda Oil and Gas Limited and CNOOC."
so your understanding is wrong on this
As is your claim that AM RNS 100% WI - he claimed 100% in the well
here it is again for you
" Oil discovery at the 100% working interest Barron Flats Federal Unit (Deep) exploratory WELL expected to open new field developments."
Th ARC report isnt an RNS - it will follow the line that AM has set out spinning this.
So that said - do you still maintain that COPL own 100% WI here, even though neither CNOOC or CUDA has issued an RNS stating they sold it, nor COPL stating they have bought it? who is making up stories now?!
Thanks for clarifying your position - we agree on debt, stand off on prod info, noted on your AM position but ambivalent is somewhat changed from " a wild card and wild man who does whatever he wants and listens to no one, including his own colleagues"
I tried to debate with leathal1979 Brel but it was like talking to a drama queen constantly - he brings no valid debate to this board - filter.