Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Interestingly costs will be reduced to $10 per barrel by this time next year as we know the pull back in cost starts from Q4 which is where we are now. So there is a gradually decline to achieve this.
FD cheeky smile and also mentions that they have a oil discovery at FD and mentions the size of the licence area 48,000 acres.
We know that they have made an application for confidentiality on this so must be of some interest.
So talks are still ongoing with Cuda to acquire their 27%.
We are self sustaining and operating at a profit
Oil has been hedged as part of the finance deal at $61 which when you take into account they also fix a contract on the gas which has more than balanced the hedge given the recent dramatic increases in gas costs.
OPL226 things sound to be getting easier and closer but I guess only time will tell.
Over all very happy with the interview.
Not the RNSs everyone wants to see but PR never the less and again Arthur noting that accounts for Q3 will be published on the 15 November.
I’m happy just going to sit and wait for this to adjust to true value, way undervalued and even the company cannt get their head round the market valuation.
Fill your boots - GLA
Detailed reference given to ‘4000psi’ & the dangers associated of working at that pressure.
& from August, that we are awaiting upgrades to handle 10,000psi in addition to knowing that 6000psi gave a 25% increase in bopd within a 2 week period.
AM topping up his holdings to 3% points to the direction this will be going.
A very good interview I thought. Nothing about this transition has been easy from the company, Art or our collective blood pressure but it all sounds very positive for next year with the company ticking along quite nicely as it is. Holding.
Well done all for holding and topping up at these levels.
15 trading days until Q3 but I think the SP will start to recover from these levels well before then.
Soon we should see the real value of COPL.
not like you to miss a bit lol
:))
Ones to focus on
Art said Q3 figures would lag due to increased pressures requiring updated infrastructure and ofcourse costing time.Q4 figures are the
TRUNKS wtf we must be swimming in oil lol
Trucks
:))
Call me old fashioned Bob
but in a testing scenario , if your flows are higher than expected and have no in situ
storage facility at the well , TRUNKS are essential , you cannot keep flowing for hours
days or weeks, from a layer gushing , if 5 trucks needed per day and only 3 available
That comment could be an oil leak lol , we could not continue as flowing TOO MUCH
for our transport capacity lol
:))
have that in place and separate negotiation that will appeal to the creditors
they get there money back and perhaps even a profit zone , vice lose loads
Take the 27% and split say 15% of that extra revenue ONLY , to the creditors
for a period of time OR to a cash sum, the higher oil prices rise , the quicker
its paid and COPL , benefit from the extra full 27% moving forwards.
Deal based on SSRU MF/Shannon operations ONLY
Again they benefit from CUDA not going under and losing millions in a fire sale
and Copl benefit from zero outlay, up front, all cash production split based.
:))
Maybe his reference to Truck Driver shortage was preparing us for slightly less optimistic results. Who knows?
Certainly a possible extra option Shaa
They have run the show since 2018, so no playing catch up for their CEO but thinking
more of a, shares now and future prices options for the cuda bod, they retain a position
via copl shares and can also cash in on future success (to walk away) no longer have to
fight to keep cuda and their future millions going bye bye, instead of buy buy lol
:))
Brel
absolutely right, it is completely out of Copl's control , all down to NNPC playing catch
up on 2 years of EXPIRED licenses, we are one of many and Essar with 80% Gov 10%
ShoreCan 10% (30% if option taken) we are also a fringe player with a free carry and
no outlay , until first drill completed and historic costs to be paid to pay for the option
by the time that comes around, Wyoming should be in full swing
:))
You wouldn’t rule out CUDA Exec on COPL’s payroll this time next week HFB.
Hiimmmmmmmm have they been reading the boards, pi ,got a mention ,interesting
as said a few times, think Arty could work some magic on a sweet deal for
both CUDA directors (still some pie) and creditors (split extra % for a while)
long term its ALL copl's
WITHOUT much of an up front outlay , fingers crossed on that one lol
:))
He has the accordion facility to use, he has to ask lender to approve the spend. If lender says yes good deal, why would they not provide more of loans if they are ok for 20m?
Pragmatic interview.no problems just Some driver shortages causing delay with deep results and should be out mid November.
Bob
4 discoveries on OPL226, The first Essar program 3 development wells on the 1st of the 4
discoveries followed swiftly by 18 PRODUCTION wells
At a potential 15% (option taken) of a planned FFD 100,000-200,000 (15-30,000bopd to copl)
on the first of them , it's worth us sticking around, even if its just to Sell that 15% for a wedge
once the first phase in progress, could sell for huge millions, pay for everything ever required
in Wyoming and beyond, in Arty's £1 billion mc dream company lol
:))
When does he say acquiring the 27 percent would be done with in house funds and not a placing?
Nigeria is out of Art's hands. It's now firmly going to be driven by Essar and the new set up over there. Hard to say just how it figures on Art's Radar but they spent more than a passing interest on the Nigerian prospect.
It will happen.
lokanraej he literally says funded in house.
Thinking of getting back in. He wants to acquire 27 percent more, will this require a placing (and will it be at a low price as historically his placings have been?)?
Surely some of the information that has has discussed during the interview should have been rns 'd , namely the drill encountered 2 oil deposits - any thoughts people !!!
Is production higher than 2720 or not?
Apart from not finding that out i liked the interview.