Member Info for BigBear2

Is the discovery economic with the appraisal well failing?
I Noted flow rates werE excellent but the size of the discovery was small so it needed an appraisal result or a tie in with another discovery?

Current mkt cap under 45 mill

NPV of $490 mill on PROVEN resources.
Over $ 100 mill for sink costs
An as yet undetermined amount for a conservatively estimated billion barrels discovery that a major has APPROACHED us
And yup before any one starts around $65 mill debt for buying the NPV $490 mill asset…
Complete total fuukin joke.

Hopefully once flaring done and production back up over 2k the pond life will fek off.
Brave man to be short here once we have the JV in sight….

Pathetic mms tactic

Was hoping for holders if not gusher at least some smaller oil pool.
Nice assets so,should recover once traders have done one.

Mm signals

The herd usually wait for it to move before piling in…
Not long now….

No one gets it apart from the puppet master pulling the strings. The simple fact is until we get an ii on board who wants to buy in quantity someone with big pockets is keeping us range bound

Correct formal announcement of JV with (super?)major will send this into orbit.

350k

If it’s Exxon I can smell burning squid…..

Let’s put it this way he’s got a lot more stock than you!

Like the enthusiasm!
Art is a major shareholder so his interest in any takeover is aligned with ours

I posted this before but gives you an idea of where we could be at with 17 horizontals…eg 35kbopd.
1.8 billion paid for takeover.

OKLAHOMA CITY, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced that it has completed its previously announced acquisition of Validus Energy, an Eagle Ford operator, for a total cash consideration of $1.8 billion, less purchase price adjustments.

This acquisition secures a premier acreage position of 42,000 net acres (90% working interest) adjacent to Devon’s existing leasehold in the basin. Current production from the acquired assets is approximately 35,000 Boe per day and is expected to increase to an average of 40,000 Boe per day over the next year. The transaction also adds 350 repeatable drilling locations in the core of the Karnes Trough oil window along with 150 high-quality refrac candidates. This highly economic inventory positions the company’s Eagle Ford assets to sustain its high-margin production and free cash flow generation for several years.

ABOUT DEVON ENERGY

Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.L

I love fried calamari….

Bolton…. Nice thinking there sir

Regarding Exxon it shows that a major can work with a company the size of COPL to do the technical legwork early doors.
Once they know it’s all sorted Art either gets the mother of all pensions and/or is kept on in consultancy mode..
It’s starting to click into place…..

60p won’t be enough for buy out .
My take is someone would rather pay more once the Drill is done in Jan.
A major won’t give a toss about paying more once they see a flowing well at 1-2k.
Easy peasy for them to scale up they would sink 20 wells in the blink of an eye .
So IHMO a major takes a flier and ponies up a quid now or waits till we see deeps flow and pay big coin.
Either way exciting times

Yup shows art has form, for working with majors.
So many here gong to be caught sleeping when the penny drops

Great summary as ever Tilburn.
Bloody frustrating this is but I think as you had alluded to the talks have likely been going on for months and the fact that Art has implied JV done by end of month suggests it’s in final stages.
Let’s hope the green box boys and their pals get properly reamed when news drops.
I recall what the news of a Possible JV did a while back at Bahamas petroleum….. 5 bags if I recollect…