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Very bad, even terrible, news. And HE1 would not have been aware of this as even Invictus announced just before Xmas that they would be letting the rig go off to HE1 as soon as testing was completed.

Anyway, the share price has held up pretty well considering just how bad the news really is. Now they can use the second-rate rig from Kenya - memories of using a sub-standard rig in 2021 resurface - or wait for a year to use the Exalo rig, which DM has said was the one they had been planning to use from the beginning. And ominously no other rigs have ever even been mentioned! Is another alternative even likely to exist or appear? Who knows, but it is not very likely.

As I only bought in after the recent placing was announced I have managed to offload all of my shares and I will buy back in when they sign a contract for an alternative rig, whenever that might be. Luckily for me, the 2p/3p predictions didn't ring true - or not yet at least.

ATB

Very bad news. And HE1 would not have been aware of this as even

I'm sure that Mr Millholland and his team are trying extremely hard but they are not having much success are they? And it just goes on and on. It will be the JV next, always in progress but never concluded.

The RBL has dragged on and on and on and on and now the JV seems to be doing the same. Production in the Shannon was predicted to be going to be rise to 5000/7000 bopd but has only gone down over the last year.

Maybe the Cole Creek will do better. One can only hope.

Sell out target is currently about £1.20p - say 10 times the lowest price. It was £2 when the low was at 20p but that was some time ago now.

33p and I have loads of them. I mostly sit here quietly, putting up with the paper loss and genuinely expecting things to take a turn for the better but it keeps going nowhere. Production is lower than a year ago - 40,000's barrels compared to 60,000's - and as soon as one problem is found and sorted another turns up. I'm sure that Millholland and his team are working their bloody socks off but they are not making much progress.

I guess the reason that he did not mention the drill into the deep discovery in either the RNS or the interview is because it is not going to happen - or if it is it will be dependent on a JV, which no doubt will be as elusive as the RBL!!!

Oh, and by the way, the share price is still 13p - not £1.30p or £2, £3 OR £4!!

And you can't have any sensible discussion here because everyone believes that the share price is £2 already. I can assure all these rude posters that if it was I would be long gone from holding any shares here.

There just seem to be lots of reasons why this share is trading at 12p and not £1.20p or whatever. And the problems just don't seem to want to go away, or certainly not fast enough, and instead of the much-anticipated increase in production all we ever get is another problem that is holding the production figures down.

It's enough to drive the shareholders crazy.

Bladderman

So why didn't he mention this in the interview?

And most oil exploration/producing companies would have issued an RNS to announce that they have got the required permit. Why not COPL?

But then the share price would be nearer the £1 or more that posters keep on about instead of the recent 12p.

Imagine if they had spent the $40+Million drilling new wells. Production would have been thousands of barrels higher a long time ago.

Let's hope that Cole Creek goes better than the miscible flood, which let's face it has been a very costly miscalculation from the start.

He says there are 3 things going on in the New Year - RBL; JV; and Cole Creek - but why no mention of the drill into the deep oil discovery???

Is this happening??

According to the interview, COPL and the previous owners have spent approx $47M pumping gas into the reservoir, most of which was spent by COPL, and all for next to no return. Surely they would have been better spending that money drilling new wells. But it does explain where the cash went from the 2 placings last year - for $8m and $13M - as I couldn't understand at the time what the money was for. It turns out they just as good as chucked it away and they are still now spending more cash upgrading the gas network because of the injected gas. Daft.

Question please: Does COPL have enough cash right now to drill a well plus horizontal into the deep oil discovery without a JV ??

Quick question please. I couldn't see any mention of the drill into the deep oil discovery in the RNS today. I assume that COPL can proceed with this drill on their own subject to funding . Where is the info re the date 8th January coming from?

Actually 1ppm = 0.001g/t so 93ppm = 0.093g/t

To get say 2g/t you will need 2000ppm.

This link does the calculations:

http://www.endmemo.com/sconvert/ppmg_kg.php

Showing signs of upwards movement. Once the rig contract is signed this will be past the recent high of 9p in a flash.

This has just got to be drilled in the January drilling window with or without a JV.

Hows about COPL drill the deep discovery and frac it (with or without a JV) and then subject to the deep flowing at a reasonable rate - whatever that may be - they then sell off the Atomic and Cuda acquisitions at maybe nearer the NVP10 valuations than the current c/cap. Sorted.