George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Morning
just out of interest I wanted to compare Aug 2021 to Sept 2022 production figures.
These are the main wells
The formatting is not great but the columns include well number, oil production and number of days
Aug 21 Sept 22
BFU 21-35-76 ST A SN 3H 5178 29 BFU 21-35-76 ST A SN 3H 3938 30
BFU 44-21V 7224 31 BFU 44-21V 2058 17
BFU 22-27V 6320 31 BFU 22-27V 2184 29
BFU 42-28V 2138 31 BFU 42-28V 695 30
BFU 34-20V 2404 31 BFU 34-20V 2402 30
BFU 23-27V 7417 31 BFU 23-27V 4644 30
I assume that now we are getting the pressures under control the production from theses well will eventually be higher than the production In Aug 21
Cant say that I wasn't disappointed with the production figures and It always looks like its going to happen tomorrow.
October we are introducing flaring. This should be the start of the turn around for production.
November production numbers will be the signal if the turn around is happening
One of our main wells BFU 44-21V was only online for 17 days and produced 2058. As compared with 31 days in Aug it produced 2539.
2058 over 17 days is say 121 b. If this is now online producing the same amount, for Oct this should be a minimum of 3751 b
There were some other ups and downs
BFU FED 11-28V produced nothing in Aug but over 10 days in Sept it produced 610 b
SWP must be working to stabilize the wells to produce consistent flows and at some point this will come through in the monthly figures
Morning
I agree that there is a link between RBL and JV.
AM up until the last moment keeps his options open.
I think the deal in principle has been agreed and is subject to DD.
The impression I get from AM is that the regulations regarding the production of information for Canadian Companies is relatively stringent, combine this with the RS report then DD may be more straight forward.
I would like an agreement with an upfront capital sum to clear the senior loan, to pay off the hedge and then a sliding scale to copl for future production.
TW has been busy in twitter - no surprise
The perfect storm around Copl is incredible.
Atb
Illusion
Thanks for the link and your posts.
So many things going on and what will Copl look like in a years time.
Will it still exist
Will it sell off part of its assets and be left with the 100% owned Cole Creek
Will it be involved in a more tangible JV
In a few days we get production numbers. I don't think this is a pivotal moment as we are still choking the output but it would be fantastic to see an increase.
Art is like a cat playing with its prey. Which company ,really, would not be interested in Copl.
I trust him 100% to get the best deal for us.
We are in a period of the calm before the storm.
If no news next week pressure will be on to lower the sp
Pre early January 2023 I think will be defining for Copl in a positive way.
ATB
I hope some of the big hitters on here can let me have there thoughts
I was having a general look at the hearing list for Wogcc and noticed Continental, Eog and others have a lot of matters to be heard.
Some of these relate to the Niobrara Formation.
I wondered where this formation was in relation to Copls fields.
There may be others but I found reference to this formation on one of our cole creek wells
Api No.49-025-23810
COLE CREEK well 11-27
http://pipeline.wyo.gov/wellapi.Cfm?oops=ID53040&napino=2523810
It looks like this well was abandoned years ago and an application was made last year to bring it back into production.
Continental etc seem to be very interested in this formation which appears to run through our land.
Is this anything to get excited about?
Shaw
Pre atomic I thought the risk was whether we would complete it. And if we did boom.
The rest is history but personally I think we are in better shape now to move forward with a good foundation
On the plus side the holders that have been here for the journey have had one hell of a ride.
I have not sold any and have tried to average down until ultimately funds ran out.
If things do come good it would be very interesting to meet up in Bolton’s favourite Benidorm bar.
Guess the members user name as they enter the bar. Be like a scene out of “one flue over the cuckoos nest”
Wwa
There is no right or wrong. Sensibly you should pay off some of your mortgage.
Your decision may be helped by how many shares you currently hold and how many you need to hold to be life changing for you and if you did invest some of the proceeds and if things did not go well could you stand the loss.
Personally copl is my largest holding.
You will have more information on the direction/risk when production figures are released. After September/October production i hope will shoot up.
If production indicates that Copl can cover its costs then the risk imo is low and the reward is very high
This for many here can be a life changing share.
You know as well as many on here what Copl and AM are all about.
When are you hoping to complete?
I think the JV deal will involve the similar painful silence during the lead up to completion of the cuda deal.
We may not like the way AM moves the company forward but i feel he knows exactly what he wants and is 100% focused to get there.
He is probably in the best negotiating position now than he has ever been.
I hope he can take advantage of this and the fact that majors atm have more money than ever to throw at projects.
Shaa
Link for production
http://pipeline.wyo.gov/AllOpcoProd.cfm?oops=ID32003&RequestTimeOut=65000&nOpco=1769
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