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Just had another listen to the investors presentation.
A couple of points, AM mentioned that the BOD are in a closed period because copl are in refinancing discussions.
The other which could be interesting.
AM mentioned the cash warrants are based on the net value of Copl America inc.
During the lead up to buying Cuda there was talk of the value of Copl being kept low as this may well reflect the value of Cuda.
As the RBL looks like being on the cards and once completed Copl America will pay the cash warrants would it be beyond reasonable to perhaps consider that the sp is being controlled to keep the value of Copl America at a very low level?
At some point in the near future we will have Cuda and a RBL.
As part of the restructure we will pay off the Wonga lender, buy out the oil hedge and pay off the bridging loan.
After this we have a minimum of 1500bopd unhedged.
gross based on wti @$100 that's $54,75,000 pa.
It has been painfully slow but we know what is coming
Atb
Morning,
Having a quick google about the grounds for objection following a ruling bu a Judge.
I had a thought that it may be based on the procedure which has been followed.
I came across this
"It is important to remember that a bankruptcy appeal will only be successful if there was wrongdoing or failure on the part of the bankruptcy judge."
If the above is correct and the Judge has done everything they should have then we could be in the clear.
I would have thought that procedurally this bankruptcy was straight forward so the chances of an objection must be very limited
Atb
on google .30.
I generally type into google cse xop and it comes up with the sp
https://www.google.com/search?q=cse+xop&oq=cse+xop&aqs=chrome..69i57.13158j0j4&sourceid=chrome&ie=UTF-8
Morning Coplhodler
Nice research into the swp records.
This well produced 4198 barrels in April.It looks like swp are getting to grips with the plumbing issue Art mentioned.
Not sure if the flaring will actually affect production but at some point when they install the upgraded gathering system I assume that the well will need to be shut down.
It looks like they undertook work on another well in April BFU 34-20V. It will be interesting to see the output of this one for May.
Atb
Dbh
Do you 100% trust Art?
I think if all the PI’s who didn’t trust Art sold up there would only be a few left.
I am backing copl and think Art will get us there but there will be some mute ups and downs.
Morning
When the sp moves like it has, naturally you think what is going on.
Unfortunately with Art at the helm you could expect the worst. This issue in trusting what Art says is a big point for me.
Fundamentals no problem what the hell Art is going to say in the next rna is a worry.
Last working day for objections today so i'm hoping we will get an rna saying no objections early next week.
If Art has not got what we would see as bad news up his sleeve then, at this level the sp has to be a gift.
I did my final final final top up a couple of days ago.
Now its a wait and I agree that the time from now until August this year will form the foundation to build on
Atb
Logically the sells may be short positions being closed in the light of the news which is coming next week.
Unless he is setting up a deal for Cnooc I cant see a placing coming as with the cash in the bank, revenue from Cuda and the RBL (if it comes through) surely he will have enough money to fund any upgrades etc.
With regard to the formal completion of Cuda it would be in Copls interest to delay this so the time between drawing down the bridging loan and the RBL being set up is as short a period as possible in order to reduce the interest payment on the bridging loan.
Atb
Bridge
14 minutes into the investors presentation AM said that since June 2021 Copl have been taking Cuda's revenue
https://www.youtube.com/watch?v=rvC74_frOAI&ab_channel=InvestorMeetCompany
I am aware that another date of March this year has been mentioned.
As is typical AM who knows which one we go with
Tiburn
Any thoughts on this
Well BFU 34-20V production Jan Feb Mar April 4774 4561 5100 3848 respectively.
There is an emergency notice from swp dated 5/4/22 requesting to install a 5000psi flanged flow tree.
Is this the start of the improved plumbing Art has mentioned?
I assume this is the reason for the dip in production for April
This is the link for the notice, it can be found by clicking on emergency flaring
http://pipeline.wyo.gov/Wellapi.cfm?oops=ID3423&nAPINO=934818
Morning Art
Hope you managed to get some sleep,
That’s the million dollar question. What is in the rs report.
Everything coming out of copl is positive plus AM has indicated that rs has found something positive which copl missed,
It won’t be long until we find out.
Like a few in here we hope this share will be life changing
Atb