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YM, mathematically there is a price at which CUDA’s WI isn’t worth buying. I haven’t done that calculation, but if I were to I’d do a net present value calculation of the cash flows I’d generate from the extra WI and compare it to the purchase price of that WI. As I say I haven’t done that calculation, but if P2 reserves are 400mbbl, at £10 a barrel in the ground, the CUDA WI is worth a huge amount and should be snapped up at any discount offered. I agree it uses up cash that could be put to use drilling wells but the acquisition of the WI would be so accretive to shareholders I don’t see how you wouldn’t but it and then leverage the asset to fund the well development.
A good write up on Wyoming oil increasing, nothing specific to COPL but related.
www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjXhbP6ltD1AhVGY8AKHbB-BAcQvOMEKAB6BAgDEAE&url=https%3A%2F%2Fwww.wyomingpublicmedia.org%2Fnatural-resources-energy%2F2022-01-26%2Fwyoming-oil-industry-is-rebounding-well-after-pandemic-lows&usg=AOvVaw2Lj2xvPjYXlZEj38s6_8mK
Yes, I agree YM, I feel Cuda is just a red herring. I hope he doesn't waste time and money on it.
100% with you there, Yacht! A total no brainer surely.. dont need to spend money for a small % of WI when we could have way more bang for our buck getting in about the billions of barrels OIP!!
xop volume really low today 110k only
I just can't see any point in bidding for Cuda. The funds we have raised for Cuda would be better spent on drilling Frontier and proving up the 1.9bb OIP.
my apologies for grammar and chaotic style do not have time to double checks rn
technical fact: price was testing 30p 6 times in past few days one of them during markets panic and every time was an instant spike to 32-33. Even when all general markets lose money sentiment was bad and no point to look for trend correction COPL spiked again from 30 and more buyers
And WTI now $87.70
Brent crude is now over $90 a barrel
checked approx an hour ago bid and ask prices for buy was 31.2; sell 31.4 a bit odd for a company that suppose to go deep.
Agree adusiek - too many go for golden nuggets by jumping in and out of shares and end up losing.
As Warren says, “if needs be stick to one share you have researched and it will pay”.
in my opinion very general information has been shared regarding new findings to get the higher volume than before so shares placement is achieved extra cash for cuda that was negotiated or cleared up a bit with some 'hints'. Extra money with the existing potential wont delay the expansion and give us possibility to negogiate much higher price with potential tr1 as copl is already producing company with money to expand so no one will consider it as desperate company lucky to be under new findings trying to quickly sell it anyone
It is amazing opportunity for all did proper research, add up some info, checked fundamentals and been already on the market more than cryptocurrencies. This is very good opportunity to buy more and accumulate. i am sure once it spikes we will see many disappoints and many 'wise guys pseudo wolfs' having blackout moments regretting to deny multi bags to 40% gain from some 'amazing opportunity' followed by good market sentiment. How funny people are really scared and make some conspiracy theories. If company is extremely undervalued and companies numbers add up, no possibility (at least minimal like all of them). I see it as much lower risk than keep the money in the bank with low interest, company with super potential considering oil price prediction and effective hedge for some disruption on the world like cold war, higher demand, transportations, energy crises. Everyone play different game. Let's play the one is definitely worth real money and show them all how really get rich.
I hope an oil giant buys Cuda and then us.
Deal is already negotiated. The court hearing regarding CUDA was regarding an outstanding loan for 'new owner'. Dont think all biders are aware of that, moreover the agreement and 35 pages from the lender construct the agreement like the 'buyer' is already known. Moreover, COPL owns part of the company so it would be much easier process of taking over than with any outsiders.
Agree Ed if we get it cheap it will be a good asset. Very much looking forward to the next couple of updates
Cuda originally paid $37m to get their share of the Wyoming assets, so below that would be a good deal. However since they're in receivership they're certainly negotiating from a position of weakness rather than strength. We'll undoubtedly know the score towards the end of next week. Exciting times.
Regards,
Ed.
I’ve never been fussed about CUDA, invested for Atomic assets. Yes if we get CUDA for cheap great. But I don’t think it’ll be cheap or quite the bargain we hope it would be.
If Art manages to get it for a steal fantastic. Just not that fussed about it.. especially now.
Bizarre line of thought that. Cuda is effectively a small version of Atomic, they've interests in the same assets. If he manages to get Cuda on the cheap its a huge positive not a negative. If he doesn't get it, Atomic/SWP are operator so the show continues regardless.
Regards,
Ed.
YT I didn’t like CUDA before and if this discovery comes back as said or more I like it even less.
Money better spent elsewhere!!
YM,
He doesn't need to buy Cuda as he's got between 55-85% of the new massive oil discovery, so the potential is off the chart here regardless of what happens to Cuda. Why might he want Cuda, well it brings in higher % interests in practically all the licences. So added cash flow and upside to BFU. But given recent news Cuda's also got an interesting wi in Cole Creek, its primary reservoir target isn't Shannon by the way, its Frontier. If I'm not mistaken that would take COPL's interest in Cole Creek Frontier to 100%. So while its not essential, acquisition of Cuda would add significantly to current cash flow, 2P reserves (BFU and CC) and exposure to more Frontier. I'll not argue with him if he successfully bids for Cuda. Gets it or doesn't its a win win either way. Its either a large interest in a massive find or an even bigger wi in a massive find.
Regards,
Ed.
AM already has 85% of a huge cash cow. Why does he need to buy Cuda?
Yes a Carlsberg-esk RNS would be nice.
If I were Art I would have a draft CPR in hand asap and would immediately be off to the reputable O&G lenders for a $200m loan at an interest rate of 5%. BMO or RBC must be banging down his door with debt packages that can make the company.
With that $200m I would buy CUDA for up to $50m and with the balance I would build well after well after well. I would then have 85% of a huge cash cow. I wouldn't be surprised, in fact I expect, to hear that Art has used the 1Bn oil find to refinance. I would also expect (you can see I expect a lot!!) for the CPR RNS to include the announcement of a new debt package and a plan of development. That would be massive.
All IMHO. DYOR etc etc.