Member Info for 3littlepigs

I don’t think “dumping” is the right word to describe RBC selling a small number of shares.

It’s ok. I bought the 40m shares that RBC sold.

Mr P, now let’s apply a forward looking PE ratio of 20 to the $33m and our market cap is $600m. Or call it £400m.

Page 18 of the prospectus says they have 56% of Fed Deep. Read it and let me know your thoughts. This should be our single source of truth. I admit I don’t understand the 100% reference in the last RNS.

What I don't understand is why there is no analyst coverage of the company. Why haven't the IR and PR team arranged for a research note or 2 to be issued, with some target prices of 1.5 to 2p, making it clear how this beast should be valued. Heck, even MATD has coverage!

Tiburn, I've just watched the video of Art from today and picked up, as you say above, that 4 more drills have to be drilled within 6 months, and this will then determine how best to drain the reservoir. However, I'm not an oiler by background and don't understand the funny lease rules he was describing. Are the leases that need to be drilled on someone else's acreage? Or are they adjoining leases that we own? What is the purpose of these lease rules; is it to give trigger some royalty income in the neighbouring leases? Thanks, 3lp

None! :)

I see this as positive. Cuda’s hand is being forced and we must stand in a good position to pick up their WI.

Slightly later than my predicted date of 18th June, but I'm glad that I was right about the length of time to re-admission; only 3 full working days to wait until relist; not the 10 that some were suggesting. So far I've read the first 100 pages of the prospectus and this may sound crazy, but I hadn't truly appreciated how massive OPL226 is! I've been in since December and haven't been more excited!

Anyone who is a shareholder should read the prospectus. Don't just ask questions on here about the company's activities when you could be looking at the only and best source of truth - the prospectus!

Stebol, point proved!

I would be surprised if the Mongolian govt paid full ask price, but delivery to them will likely be cheaper and with less tax burden. Thus I would expect the economics of 1 bopd produced by MATD to be similar to, say, that of COPL. The main issue I have with the calculation is just how conservative it is! I would expect the oil to flow at 800 bopd and with flooding that could increase. Bring on a JV partner and lets get 20 wells drilled!

The $57.4m of petroleum producing assets will be the net book value (cost minus depreciation) of plant and machinery on site in these two fields. Don’t confuse this with the value of oil in the ground. This is the value of physical assets used in the production of oil above ground.

"With the acquisition closing on 16 March 2021, the Company's production averaged 1,220 bbl./day oil (gross) 706 bbl./d oil net for the term of 16 days until 31 March 2021. Current oil production has increased 50% to approximately 1800 bbl./d (gross) due the commencement of increased gas injection volumes on April 1 at the Company's Barron Flats miscible flood project.

With the completion of the Q1 financials, the Company can now work towards finalizing its Prospectus, which is required in final form before readmission to trading on the LSE. Once a definitive timeline for readmission is available, the Company will give a comprehensive update to the market on its operations."

investor33 - i completely agree and this was the crux of my post below. As soon as I have more funds I will be averaging down further (although I did pick up lots at 2.5p 6 months ago :)). At this rate I'll be issuing a TR1! "3little pigs declares his 5% interest as he averages down!" Haha, if only. Good day all. Time to see what the COPL holders are whinging about today.

While I would prefer to see bank debt funding the H1, H2, H3 wells rather than equity dilution, I prefer this to a bad farm in agreement where we give away too much to a partner that doesn't deserve it, simply because they know we are cash strapped. The upside potential here is massive and we will grow exponentially as long as we don't give the economic rights away to another partner. My real disappointment is that they didn't ramp the positive result of EL grant to drive the price to 10p and then do the equity raise.

Are they trying to go for a simultaneous release of the prospectus and the Q1 results?

Rights issue: optimal payments did one in 2015 to buy Skrill.

The audit could well have been signed off a week or two ago and we could now just in a back-and-forth with the FCA.

Rootstocks - i agree with you in principle. The two stock markets should align their prices, so why hasn't XOP jumped up massively? The hope is that the prospectus will be a massive wake up call to what Atomic really is and what it means to COPL.

I think the problem is that any data given in an update would have to be reflected in the prospectus. That would mean another draft sent to the FCA and more delays. So, if they are close to getting the prospectus signed off they would avoid an update.