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Tiburn
Who terminated the venture copl or the partner.
Copl may have had enough and pulled the plug.
We need background now from copl to tell us what happened and what the forward looking plan is
Although disappointed at least this jv cloud has moved on and us no longer a distraction.
If the jv talks did not allow copl to consider other interest in the company then this could get very interesting
Frabo
This was from a tweet a few days ago from @coplinvestor.
I didn’t understand the implications but I felt the general comments on here were positive about it.
What I would love from Mr Cowan is some up to date news on how the flooding is affecting production
News on the jv would be the icing on the cake
More dilution. How much do we owe?
“As part of the Company's liquidity management and in conjunction with the terms of the financing COPL will be settling amounts owed to various creditors in shares over the coming weeks.”
Get the tin hats ready
Morning
AM always said that the taps could not be opened because the existing infrastructure could not handle the pressure.
Assuming the pressure is still in the ground I assume that we can now open the taps to produce the oil from the existing pressure and go on the inject more gas to bring the pressure up.
On this basis I hope that just being able to take the oil from the ground under the pressure which was there when the ggs was commissioned production should have sone jump in August
Sbrown
I wondered the same and thought perhaps it may have been AM’s way if giving us a clue as the the name of the jvp. The first letter of established.
Wishful thinking on my part I’m sure but it was a word he has not used before to describe the jvp
I agree
It’s been a very bumpy ride and although it doesn’t feel like it this is possibly the best position copl has been in in terms of future production/revenue
Unnd
Thanks for your post Im still trying to get my head around the bond deal.
Each bond was worth to us at the time $200k
And then when it is converted - rna dated 10 July we settle by giving the bond holder $400k worth of shares at the Vwap rate.
Madness
DC
I was wondering the same
It’s in a different format to the previous announcement about the bonds and also the settlement is very high $1.7m
It does say in settlement of previously converted 2028 binds. This may have something to do with it .