Member Info for ART123

Great post.

Maybe someone should forward this letter to the CEO here as maybe she has completely forgotten about the coal asset.

Also this needs correcting:

"One mention of progress on the Thar coal project and the share price will be 1.2p in no time at all. Instead this daft CEO prefers to bleat on about her waste of time Green Energy Hydrogen project while the share price languishes at 0.30p. Stupid"

as last time the coal to power project was in fashion the share price was 3p, while the coal to fertiliser project saw the share price at 1.6p.

Meanwhile the Green Hydrogen sees the share price at 0.30p!!!!!!!!!!!

That's 2 cheap placings and a lot of quite unnecessary dilution for a project that sounds destined to fail from the outset.

And if it finally does get up and running the chances are that it will either be too small to make any difference to the SP or uneconomic, like most of the 'green' projects these days.

What a total waste of time.

One mention of progress on the Thar coal project and the share price will be 1.2p in no time at all.

Instead this daft CEO prefers to bleat on about her waste of time Green Energy Hydrogen project while the share price languishes at 0.30p. Stupid.

Of course the other reason why the COPL management need to up production quickly, apart from the increase in revenue, is that this will make acquiring the RBL on good terms so much easier. It's alright to have the reserves in place but these reserves are not going to be very attractive to the banks if the production rates are very low and I reckon the 1000 bopd average that has been restricted to during the CUDA problem is quite a low figure for the level of the proven reserves.

The higher the production the bigger the RBL and the better the terms. It's quite simple really.

The results due mean very little as they were for the period when CUDA was still under administration and when COPL were unable to do anything about increasing production as the ownership was still not concluded. COPL's hands really were tied and all they could do was let things just go on as they were. I think that is obvious and since circumstances have now changed then the results are relatively unimportant.

The real issue now that the CUDA ownership is sorted out is for COPL to start to increase production from the Barron Flats Shannon unit as was announced in the COPL Completes Acquisition of Cuda Energy RNS of 26th July as so:

"The optimization and associated increase in oil production is expected to occur from August 2022 with a ramp up in activity at the Barron Flats Shannon Unit involving well optimization, selective gas flaring for short term pressure reduction, staged facilities upgrades and ultimately additional development drilling."

The immediate target should be the previous high rate of 2720 bopd attained in August 2021 just before CUDA went into administration with much higher targets possible.

It would be nice to hear from the COPL management that this production increase is underway and making progress.

Would be better to get an increase in production RNS - maybe even first before more bonds are converted. Millholland needs to try and get the company running on revenue now rather than placings, bonds and big finance loans. It cannot be that hard as every other oil producer seems to be finding that these are good times with the still high price of oil.

at 16.75p...........(and not 13.25p!!)

Yes, I fell asleep during the presentation too. Millholland was droning on and next thing I woke up and 30 or 40 minutes had passed and the other guy was droning on too. I had to go back the next day and listen to it again - in full!!!!

It was okay but to spend so long explaining that internal estimates and the RS report were based on a different gross area is not so necessary. We are all intelligent enough to understand this. Also no one needs to see the full report - we can all trust the COPL management enough for that. And now the CUDA business is sorted it is time to increase production - figures will suffice and we do not need too much of the detail. Similarly the RBL will be announced when it is sorted.

The real difference between COPL and 88E is that while the COPL share price has done virtually nothing for the best part of 10 years, the 88E share price has bagged and multi-bagged many times. Yes it has fallen back every time, but the rises have been spectacular, with two clear 10 bags over the last 5 or 6 years and several double ups and three bags. This at least gives investors and traders alike some hope and an enthusiasm to put their cash on a share that always gives a return.

What COPL needs badly is a big rise - and if it falls back afterwards so what, at least it will show that there is some life in the old dog!!!

Silly me - I posted this on the 88E board by mistake.

Many apologies as this last post was obviously meant for the COPL board. I will correct this immediately.

The real difference between COPL and 88E is that while the COPL share price has done virtually nothing for the best part of 10 years, the 88E share price has bagged and multi-bagged many times. Yes it has fallen back every time, but the rises have been spectacular, with two clear 10 bags over the last 5 or 6 years and several double ups and three bags. This at least gives investors and traders alike some hope and an enthusiasm to put their cash on a share that always gives a return.

What COPL needs badly is a big rise - and if it falls back afterwards so what, at least it will show that there is some life in the old dog!!!

Does anyone know how many wells are producing in the Barron Flats Shannon Unit? ie. how many can be worked over to increase production without any further drilling.

Also of note is that the Continental assets ART mentioned in his presentation also in Wyoming are producing 19,000 boepd - so there is plenty of room for improvement here.

Obviously COPL need to increase production before signing the RBL. No banks will want to lend money on reserves alone or reserves that are not producing efficiently. Previously COPL couldn't increase production until the CUDA issue was fully resolved. That is now sorted. Next job is to increase production - 4000/5000 bopd would be a good starting point - get the RBL finalised and then start to turn their attention to the Federal Deep.

An strong increase in production should reflect in a higher share price.

I wish he's just kept to the bridging loan to pay for CUDA.

I wish he'd put the whole caboodle up for sale. He recently said that acquiring CUDA:

"Provides significant leverage to COPL increasing the Company's NPV10 (47% working interest adjusted) by US$122 million from US$258 million (COPL December 31, 2021 NI-51-101 Reserves) to US$380 million."

am I correct in thinking that the NPV10 is much the same as the NAV. The current m/cap is about US$53M.

By the way does this NPV10 include any value attributable to the Federal Deep significant discovery or is it excluding that part of the asset?

Well there's not a lot of difference between 16.75p and the current price of 17.15p so at least the drop will be limited.

It's obviously someone who doesn't know much about the ways of the market who has been offloading in the face of such a huge RNS. It just defies common sense.

The truth is I've been in this business long enough to know what a near billion barrel of oil CPR is going to do to the share price and m/cap. Particularly when a well has already been drilled and it is in a safe environment.

There is no way this SP didn't rise through the 20p's and into the 30p's and up towards the 40p it reached in January on the first announcement of the significant discovery.

Somebody has been selling/offloading shares and it certainly isn't PI's.

Nevermind with plenty of news due now the CUDA business is finally sorted let's hope things improve.

ATB

To be honest warrants should never be exercised until the share price is 2x, 3x or even 4x the exercise price. They are not loan notes either. With a loan note the funds have been forwarded to a company in exchange for shares and the Loan Note issuers have to sell the shares to get their money back.

Warrants are in effect bonus shares but they still have to be bought at the exercise price. Sometimes warrants never even get exercised and quite simply lapse but as the warrant holders have never paid anything for them - unless they exercise them - then it doesn't really matter.

It just seems very stupid if they are being forward sold at this current share price but I cannot see any other explanation for where these cheap shares are coming from.

Sorry, that is US$11 Million and just over GB£9 Million......

Just to clarify, Bonds cannot be converted into shares before the Maturity date, so it is not the Bonds that are causing the SP to lag.