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Hi guys,
I hope we get news ASAP to boost the SP where it deserves to be at this moment in time. I was just reading the below online. Very exciting. I tell you, i want to see an SP of 6-10p in 18 months time. Anyone think that is very likely?
''COPL plans to drill the first appraisal well at OPL 226 during 2020, subject to financing and regulatory approvals, and place it in production through an Extended Well Test utilizing an Early Production System. This is intended to be followed by the drilling of two to three additional similar wells on the prolific NOA Structure. This phase of the project would precede a full field development plan, to be implemented following OML conversion.
"COPL's current intention is to eventually bring three to four appraisal wells at OPL 226 onto production at a forecast rate of 6-10,000 bpd per well," COPL said.
According to a COPL presentation, the OPL 226 block has a best estimate of 2C contingent resources of 16 million bbls (gross) and Unrisked prospective resources of 533 million barrels (gross) of oil. Fully developed, the area could deliver production of 60,000 bpd.''
OPL 226*
Maybe I am clueless on this but we can project a market cap based on the field potential but our share price will be dictated by how many more shares art issues before the field is proven. So how can we predict a price? Art just did two raisings, which makes my point. What stops him from diluting us further ? He is raising on your exchange where the regulatory limits are looser. God knows how many shares he intends to issue in the next 6 months. If he tells us on the next release he won’t dilute us further until the drill then we pop. Otherwise I think we are facing a wild uncertainty and we don’t get a true rerate until the field is proven
Cdn, what do you think Art needs to raise funds for before the drill? He has paid off all the debts. The additional 10% share can be paid for out of the proceeds from the drill or a loan based on the revenues from the first drill.
Petrol, yes I have been saying 4p to 10p and more for weeks on full field development.
I could be wrong here but my interpretation was that COPL do not have to buy the additional 10% up front, they could wait for the drill to hit then buy an additional 10%. Does that align with others interpretation?
SP is difficult as it is not always black and white.
LLOY is nearly half of its price from a few weeks ago, nothing major has changed RNS wise, even with coronavirus.
PMO was £1.20 and oil was about $40 a barrel, oil dropped to $20 a barrel, the SP went down to 15p, now oil is $40 and SP is 50p.
My point, sometimes it’s sentiment etc that also play a part, if we successfully drill and SP is 4p, who knows with sentiment or forward looking statement from ART where SP will end up.
I must admit, I enjoy your your ramps on this bb, however in my opinion we have a very very long way to go to even get to 1p per share as their are to many ifs and buts. I think that this week we will continue the downward trend to about the lower 0.20s and will hang at about 0.22p for a while
Until we get a positive RNS. All in my opinion of course.
So if all went plan we potentially could be looking at up to 9,000 BOPD net to COPL from OPL 266 with up to 1 billion barrels - crazy, and we're valued at just above £10 MCap. Buy the dips. Mind we're already heavily discounted from recent highs
All very interesting but until Art gets the promised batch of News out some time this week the Market will still need convincing that Art really is on the true path of Redemption.
Then,when it comes the SP really wil fly and the future prospects will become a red hot topic.
This week is going to be crucial.Everything crossed for truly Transformational update
Agreed Panama - Art's test is close.
Quoted from Oil man Jim's passage he said 'settlement with Essar Mauritius is potentially transformational'. No sh**T Sherlock. Mind he said the increase from 5%-15% would require dilution ( £6M if correct but we can take this option at anytime: of course it would make sense to do that during the drill or after. If this goes to plan then £6M dilution at say £50M at a 1p for example is palatable and valuing driving so who would expect the market to see this as positive on a good result. A very interesting few weeks coming up!
Yes Dusty totally agree. COPL don't need to purchase the 10% until we know whether the first drill was a success. That is what makes this deal so attractive as an investment.
The only thing to take us down to 0,22p is an RNS saying no agreement reached.
MM’s played a blinder on Friday, despite buying they took it down, even with the over-hang probably done the day before.
Even if we don’t get the agreement RNS early in the week, FOMO and the short term investors will want in and give us a lift from here.
Nigeria isn't looking good. Reported 28000 new covid cases yesterday. COPL needs to really start planning now to ensure drill sites are fully managed appropriately as other drillers/gold companies have to keep production going/restarting. Come so far now and last thing we need is a covid disaster to hit us for the nxt 6 months, current and 2nd wave
Groover I am looking at the worldometers statistical toll for Nigeria & it shows 603 new cases for 4 July, the 28,000 is for total confirmed cases since it all began. You can see this here:
https://www.worldometers.info/coronavirus/country/nigeria/
And from the Nigeria Centre for Disease Control (NCDC) twitter:
https://twitter.com/NCDCgov/status/1279544410632605700
As usual an alarmist and cup half full negative and basically inaccurate take and slant on life and Copl.Wuss of the first order.Withdraw and place your funds in Shell as your often doom laden posts do get on my t—-ts.Look at the Covid facts re.Nigeria and Africa in general before reeming off such Alarmist nonsense.Rant over lol-but why post such toilet.
If anybody wants to discuss Nigeria, take note of the following, Nigeria are up the creek without a paddle, they will welcome any revenues from anywhere. Believe me, Nigeria need COPL/Shorecan more then you can imagine.
https://nairametrics.com/2020/04/16/see-5-signs-indicating-that-nigeria-is-heading-for-a-recession/
Jiving
Sincere apologies. Looks like chart I looked at had a right bunny! With 50k cases in usa alone it seemed feasible
I'll use this chart from herein
Groover no need for apologies it was just an error. Sure as hell I done them , and some!
You don’t sound sure about the agreement. That should come within the next week or so but you know it takes a lot of time for the African authority’s to decide things and then in a lot of cases it turns out negative , I’m sorry to that
but we will see.
F—-ck off you human zone of low pressure .I remember your pathetic posts of whining woe and aggression some twelve months or so ago. Ciao!!
He was waiting for 3p on GRL which hit 7.8p. So even he doesn't have a crystal ball. What will be will be but the agreement is conditional so will anticipate a submission RNS at the very least
Taken from MisterPositive post yesterday
6000 zone: +1Bln barrels
7200 zone: 2.6 Bln barrels
8000 zone: 2.6 Bln barrels
Shaa
Those figures are from Page 6 of company presentation. I did not even know about other 2 zones until Mr Nation mentioned it.
All in all OPL226 looks a gem.
Over +6 bln barrels even @ 25% recovery factory is mother lode. Niger Delta Is amongst one of the worlds most Oil rich province.
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