Member Info for BigBear2

Yup we can easily see 2p tomorrow……

Beautiful timing for copl relist….
This is now a total no brainer with huge upside.

Massive volume tomorrow

I ain’t selling sh*t under 2p and even then it will just be a haircut of about 20 percent. So much good news to come here and we know production will go up month on month. Hopefully CUDA buckle and we get some or all their wi on the cheap

Just reading that 88e RNS seems like more rubbish to me as they are merely detecting some oil in water bearing zones. Smart investors will take whatever gains they can get from there and pile it in here first thing.

Taking a look at things the only real risk here is POO, but that’s the same for all oilers.
How many other low debt oilers have a business plan like COPL, not many….
Ideally we should all be sedated by Xmas and wake up with the SP @ 4p

Arts master plan already kicking into action.
Secure the wi of the distressed partner on the cheap very nice move.
‘I love it when a plan comes together’

Yup this is a power play from Art
We have them by the short and curlies and are now after their WI at CC AND BF( note thus would give us 100 percent WI)
Art did say there would be an announcement in ‘near time’ and there it is

Producing US asset bought on the cheap last year deemed RTO, prospectus approved by FCA relist on Tuesday.
Atomic NAV is (at $70 WTI) approximately £230 mill. This is PROVEN oil.
Production is currently @1800 bopd(last update) and rising due to miscible flooding technique and is being modelled (verified by Ryder Scott) to reach plateau rate of 7000 bopd next year (rising steadily month on month)

Cole Creek asset is a lookalike that copl plan to use same tech on and there is in excess of 100 mb on the acreage.

Nigerian asset is immense and could hold up to 1bn barrrels of oil. COPL have a free hit on the first appraisal well and can increase WI after a successful well, echo well modelled to flow approx 6000 bopd.

Majors are tapping deeper horizons yet to be drilled on COPL US acerage with success on neighbouring leases.
COPL have a distressed partner (CUDA) who owe them wonga and it’s likely some sort of deal will be forth owing to increase WI

A lot going on with continual news flow and the 230 mill is just for oil in ground in US that is currently being produced.

Min 4p target IMHO

Application
for admission
to trading
Application will be made to the FCA and London Stock Exchange for the Common Shares to be
admitted to the standard listing segment of the Official List and to trading on the London Stock
Exchange’s main market for listed securities. It is expected that Admission will become effective
and that unconditional dealings will commence at 8:00am on 17 August 2021.

It’s 300 mill usd

Based on 300 mill (£220 mill) just for atomic and nothing got production and sentiment and Nigeria that’s a Baseline sp of 1.45p
VERY NICE ……

SOURCE ;
Edgein ADVFN BOARD:

Some very interesting snippets in the prospectus for sure, especially about the performance of the miscible flood and the impact that its having on the production and reserves of the Wyoming assets:

"The subsequent analysis of one full year of production and gas injection
data indicated the performance of the miscible flood is exceeding the initial plan. As such, the Ryder Scott Report filed by the Company as at 31 December 2020, and now updated effective 1 April 2021, has been updated accordingly to reflect the reservoir performance up to 31 March 2021.

In addition, the Company is evaluating drilling locations and targeted reservoirs in Proved Developed and Proved Undeveloped Reserve areas in the Cole Creek unit. The purpose of this evaluation will be to drill an initial 2 to 4 wells in 2021-2022 needed to initiate miscible flooding in 2023-2024 and to increase the Company’s oil production."

So it sounds like they still plan to drill on CC (as well as reactivate those 17 wells) this year. RS suggest there's around 114mmbbls in place for the Frontier and Dakota formations and numerous proven and possible future well locations. So there's lots of potential to increase flow rates with the miscible flood exceeding expectations and these new wells to be drilled this year and next. They'll be going flat out drilling BFU next year too. Once they establish the flow rates over the longer term of the CC field there's lots of scope for the reserves to increase from the current 11.9mmbbls given the oil in place numbers given in this report.

There's a good chance they can add significantly to the 2P given the performance of other wells in the area. With our previous NPV of around $185m at $39/bbl increasing to over $300m at $70/bbl there's current scope to add significantly to that. Wyoming alone makes our current cap of £60m look tiny, gonna pop. Plus they suspended with a very hefty cash balance which will be confirmed again in the Q2 coming soon.

In Nigerian/Africa,

"ShoreCan is focussed on acquiring upstream oil and gas exploration, development and producing assets in Africa, and has taken a position in Nigeria while it continues to evaluate a variety of additional assets in Nigeria."

There will be lot of assets up for grabs with the majors losing interest in their Nigerian assets, lots of smaller non-core assets. So it will be interesting to see what they get their hands on now that COPL are in a much stronger position to develop Shorecan now that they have growing production and cashflow into the COPL group.

The scale of the Nigerian assets remain as company making as ever with 1U/P90 of around 300mmbbls (gross), P50/2U of Crica 500mmbbls (gross) and 3U/P10 of around 1bn bbls (gross). No wonder Essar were so keen to get these back again.

"In addition, ShoreCan has invested USD$8 million into Essar Nigeria in the form of an interest-free shareholder loan. The funds are to be used for Essar Ni

That valuation was @35 Wti we are now @70

Super low risk geo proven (misc flood) tech to improve production QUICKLY quite simply all the ducks are lined up here for a meteoric rise

Cheers will look to add some next week to portfolio

Hi guys (and girls) anyone have details of the COS on this drill?

1.25

If they open it sub 1p I would expect an avalanche of buyers…..
I’ve given up trying to understand pricing on relists and ipos (most crazy one was CBX opening at 4 times pre ipo price) but fair value here is IMHO min 1.5p. Assuming the MMS may be a9rse holes let’s say 1.25.

Knowledgeable holders here will understand NAV, proven oil in ground and potentially massive upside our neighbours have tapped in deeper horizons. Oh yeah and plus likely increased wi soon and look alike at Cole Creek with shedloads of oil waiting to be liberated by misceable flooding.
Then add to that Nigeria and the 5p target price does not seem as crazy as it may seem initially

Nope Art has said it’s done and they were just waiting for prospectus approval to ‘turn it on’. Expect it next week