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Afternoon.
Regarding the JV.
As mentioned by other posters is it a coincidence that the rbl has been licked down the road?
I wonder/hope that the partner may pay us a capital sum to cover the repayment of the senior loan with a bit more to give us some working capital. On top of this the partner will provide us with the casing we require for our own exploration.
In return we allow them to bring their own team and equipment in to develop the deep unit. Copl taking a percentage of what comes out of the ground.
Can you imagine Copl without the noose of the senior lender around out neck? Saving circa £1m per month in repayments
RBL will then be in the background if we need to apply for one.
Time will tell but if anyone can pull off a good deal it will be AM.
ATB
Wwa
I think these are the ones from the Rna dated 8 August
The Company has also granted broker warrants exercisable over 5,895,000 common shares at an exercise price of 16.75 pence per share and expiring 90 days from 26 July 2022.
Morning
I think perhaps for once AM is going to under promise and over deliver.
That twinkle in his eye and that cheeky grin, I think he knows what is coming when the chokes are released by being to be allowed to flare.
Id be happy to see a breakthrough into the 50K production for September a modest increase in October but breaking the 60k in November.
At the moment a see an analogy for Copl. At its current mcap Copl is like a bleating lamb in the middle of a Serengeti plain. Predators all around ready to pounce.
I take on board Illusions comment about the politic in the USA about takeovers and perhaps the JV is the start of a process where a major starts to quietly move into Copl and the basis of the JV but with its ultimate sight being on the bigger prize
ATB
I just think for our potential we are just too cheap and it would be worth a major taking a punt on us.
Worst case if they did not find anything would be our current production which I think in a few weeks will be around 2000 bopd so a gross revenue stream of say £5m per month.
what is the downside for a major? A buy out would be small change to them
Big comment about the JV.
If there is a major out there looking at us, at our current price why do a JV just buy us out.
A while ago AM said a JV would be dilutive and did not seem keen on doing one perhaps this month if I heard correctly.
He has done a u turn and I feel he now see the writing is on the wall and Copl needs help.
If another major is eyeing us up I can see an offer coming in to buy us out rather than lets us get into bed with another company
I assume that Anavio still holds and are quite possibly our largest share holder. If a decent offer comes in £1.50 plus I think they will take the money and run and so will I.
Art has kicked the RBL down the road again I wonder why?
I think things will start to kick off
ATB
Hi Beesty
I may be wrong, I understand that there has to be a certain period between Art buying and the release of information such as the RBL
Surely Art could not buy shares the day before significant news, there needs to be a black out period.
AM's stock purchase was on 26th August, I think the blackout period is 6 weeks so towards the 2 October
Art never likes to use separate RNA's when he can put everything into one.
If there is one thing that can put dynamite under the sp it a RNA which combines RBL and production increase details.
I'm not expecting a great increase for August mid / high 40's
I hope the from mid August the 1600bopd will be increasing so if he does announce the September production it will be well into the 50k per month.
ATB
Morning.
Well 14-30vf
Came across this sundry notice dated 17/8/22.
It looks like certain formations have failed pressure tests apart from Dakota.
Can someone through some light on the impact this may have.
Click on the sundry with the date 23/8/22
http://pipeline.wyo.gov/Wellapi.cfm?oops=ID1695&nAPINO=948518
Thanks