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I think in principle you are right but from a safety point of view they need the pressure to reduce in a more controlled way.
As far as I am aware they need the pressure at around 500psi and currently they are around 1300psi
The free flowing wells Art mentioned interest me.
Out of 4 wells 3 are now free flowing they are working on the 4th
They were pumped wells so say 150bopb per well - The free flow wells who knows could be well over 500 bopb per well
Remember when we had that rna stating production was over 2700 bopd.
We could get something similar
Generally now I think people will agree that there is a disconnect between the theoretical value of the asset and the mcap of copl.
I have read about the psychology of the markets. I wonder if copl is an example of this.
Right now if I were offered £1 for my shares I would quite possibly take it.
Anavio if they exercised their warrants would hold circa !5% of the company @ 16.75p per share.
Anavio are here to make money and now to a great extent can hold the destiny of who could takeover copl.
AM holds a good chunk but the way the PI's feel at the moment if a bid came in at £1ps a lot of PI's would go for it and quite possibly Anavio.
Avanio would have made nearly 6 times their initial investment.
Are Anavio in talks with anyone?
Like a good Columbo episode, he would find out who would benefit from such a low sp.
In this case at a bid of £1 everyone inc AM.
Very interesting times
Morning.
Can someone help me out
Can these bonds be converted anytime
If the bond holder sells these shares will it come out through a rna
One positive about the conversion is that I assume we will not be paying interest on $400,000
I think the heading on the face of it is deramping but really it is what Art said in the presentation.
The article goes on to say
After secondary recovery - "COPL, targeting the high end, hopes the reservoir will ultimately produce about 666 to 826 million barrels of oil"
Tree
From memory the pressure they are dealing with are nearly 3 times more than the working pressure they want.
Can you imagine the force of the oil coming out of the flowing wells?
This is probably why the infrastructure of pipe work the deal with the flowing oil is so important
Interesting from the webinar about converting 4 pumped wells to flowing wells.
I have to admit I needed to google "flowing wells vs pumped well"
So flowing wells are where the oil comes up though the pressure in the ground. In my mind this means an awful lot oil will come out of the well.
3 of the 4 have been converted the 4th is being worked on.
During the presentation I asked about the flow rates for these but did not get an answer
Hedges - found the dates
Crude oil WTI Futures 384,187 barrels Jan 1/22 to Dec 31/22 $56.58 (5,664)
Crude oil WTI Futures 416,772 barrels Jan 1/23 to Feb 29/24 $52.87 (4,667)
Butane Normal (NC4) 11,110,302 gallons Jan 1/22 to Dec 31/22 $0.768 4,722
Butane Normal (NC4) 9,921,552 gallons Jan 1/23 to Feb 29/24 $0.670 2,633
Steve
Cant deny its been a rough ride so far.
To hold or not to hold that is the question.
For me it boils down to do you believe in Art and the asset.
The asset is what it is and should really support the sp.
Art is a different kettle of fish if only you could rely on the words that come out of his mouth.
I think things will turn around and one morning we will get a rna which will blow the doors off.
Imo timing wise at this level is not a good time to get out.
Atb
Wwa
I was a bit worried when Ryan was talking about the junior tranches and that they could approach existing lenders.
I sent a message during the presentation asking if this would involve more warrants and placings. He replied saying no it’s Junior tranches.
I don’t know what a junior tranche is but if it gives us money with no warrants or placings it cant W bad
Over on CSE a trade looks like 100k shares traded in one trade at .26 which is 17p.
Aug 8, 15:21 0.26 100,000 TD Securities Inc.(Buyer) TD Securities Inc.(Seller)
If this is correct a single trade of that size is unusual.
CSE is not a market I am too familliar with.
Does anyone who knows CSE have any thoughts on this
Confirmation that we definitely have a drill rig coming and when we will start drilling.
Update on RBL
Expansion on details contained within RS report - Arts take on it
An indication when production will increase
Curve ball maybe details of an approach from another company
Morning
Copl is like a baby, starting to grow and wanting to take its first steps.
Its stumbled a few times but now has the support of the money from the convertible bonds deal and will start to stand on its own 2 feet.
The future is bright