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Anyone think John's/Art's message about the Dakota well has any credibility?
Must be LB then....caused a small twitch up I think;-)
Nono
Are you claiming those two transactions?
I just can't stay out of this stock. The rampers have done their work well.
Bought back in slightly lower, didn't make anything from the drop because I lost the difference trying to trade ufo.
Didn't lose anything either and I was spared seeing it drop to 18.5 yesterday at least!
2x £55k buys just in - one at full ask
However, I do like it when they corner you.
You do squirm and squeal..lol
You were quiet for 24 hrs because you know your game is over. You think we're that gullible.?
When do you estimate to reach 14,000 posts LB?
Must say they are very negative, what gives with you?
What makes you get up in the morning, and log into LSE, all day, focusing on COPL?
A simple question…
@LB28 - I am confident I know but what is your motive on this board? Do you actually own any COPL shares?
@ Tiburn
Butane hedged for 2022 0.76 cents not 0.96 cents you deramper lol.
My grey cells worked that out to be saving of $850,000 yes Eight hundred and fifty Thousand Dollars per Month!
Now put that in your pipe and smoke it LB YOU FCK FACE!!!!
Thanks Tiburn, my fault as I used 2000 BOPD as an example and our learned friend used/twisted that figure for the year.
This time next year, a shot at the title, 10,000 BOPD?
Light oil - easy to work with, used in more things and worth more, KERCHING!
2000 bopd net = 60,000 barrels per month
At the hedged 2022 WTI sales price, after lifting costs = c $45/b gross profit
After tax/royalty per month is circa $1.8m PROFIT from oil sales.
Costs are c $450k p/m loan interest
G&A costs covered by 700 bopd we are told = $650k p/m
Butane costs = At 700k gallons p/m MF injection rate = c $700k p/m - as the butane bullet supplies are also hedged at 98c when market costs is $1.61 - saving $430k p/m, and critically allowing full injection rate to supply available to be achieved
So break even after all costs as a snapshot at 2000 bopd, income=costs
But income is increasing and costs are decreasing each month.
Shaa statement is therefore accurate in scale
Hell theres oil every feckin where in them frontiers
The Company believes it has discovered a large conventional light oil resource play in the Frontier Fm sands (4 sands) underlying a good portion of its approximately 48,000-acre leasehold position. These four reservoir sands were damaged in the Discovery Well by significant drilling mud losses during drilling operations as well as cement invasion during casing operations. Due to these issues full evaluation at this time would have required hydraulic fracturing of each sand, which the Company believes is not cost ineffective at this time. Preliminary evaluation of deep well control to the west and east of the well location suggests the reservoir sands are present over a large area. Oil was recovered from a Frontier sand by drill stem test at a rate of 150 bbl./d from a well drilled in 1982 (discovery well for the Shannon Field) approximately 3.5 miles to the east of the Discovery Well location. This confirmed oil-bearing sand correlates to one of the oil-bearing sands up dip or structurally higher in the Discovery Well. The Company has commenced discussions with the regulator of the BFFDU on a delineation, exploitation and development strategy for the Frontier sands.
Currently, the Company has elected to keep the full results of the Discovery Well confidential for competitive reasons.
He just plucks a number out of the air. Lol
Nice work 34quin.
“fields in the area have already experienced 60-65% recovery rates, compared to
COPL’s CPR assumption of c.25%”.
Hence Art “beyond our expectations” comment.
Tell us how the f*ck we can make £24mil per year in profit at 2,000bopd?
Who has said that is our forecasted level?
Market still cautious – despite good early performance. At present, we believe
the market valuation of the company does not fully reflect the 2P reserves
currently assigned by the CPR. We estimate the market ‘implies’ a production
plateau of around 2.5kbbl/d net to COPL, compared to the 5kbbl/d suggested by
the CPR. However, if the BFU performance continues and Cole Creek Unit (CCU)
also increases in production, we believe investors’ confidence will strengthen
relatively quickly delivering along a full value recognition of the 2P reserves. We
estimate an increase in confidence in the current 2P reserves could deliver to
more than 60% market value accretion (19p/sh).
? What if a potential outperformance materialises? Although only few data
points are available, we see some early signs of potential outperformance
beyond the current 2P reserves. If the rate of production increase continues as
per some early indications, we could see the company reaching a 4kbbl/d net
production level at the BFU by mid-2022. This will not be a total surprise, as the
IRT simulation has already implied such a potential scenario. In addition, similar
fields in the area have already experienced 60-65% recovery rates, compared to
COPL’s CPR assumption of c.25%. A scenario where the BFU performsin line with
the IRT simulation would imply value accretion of c.$80mm (39p/sh).
BFDFU Deep – an exciting discovery! In its most recent update, COPL announced
a discovery in the Barron Flats Deep Federal Unit (BFDFU). While no new
information is provided at present, the pre-drill estimates of the different
targeted areas suggest combined potential recoverable volumes even larger
than the BFU unit. If successful, we expect each discovered barrel of oil to be
worth roughly in line with the CCU reserves. While the flows are yet to be tested
and further appraisal would need to be done, in case of a success and only as a
point of reference, we note that a potential 38mmbbls discovery could
ultimately lead to a 75p/sh value accretion.
BM wins optimistic post of the day... I'd have preferred the raise be done at 30p myself :D
Lets hope we get some news on A few fronts next week
Lets be honest it cant be any worse than this week
All the best
You have NO shares in COPL LB. If you had you wouldn't spend all day every day trying to scare newbies.
Are you a Turkey voting for the Christmas oven??
I am expecting a ‘minor miracle’ on our BOPD figure - once CUDA secured….