Member Info for Bladderman

Thanks for sharing Postie.

I am def not expecting JV news tomorrow. However, I think after the RNA disclosure over 5 weeks ago regarding COPL announcement once the details are agreed, with technical DD completed last year I would suspect the details are now agreed and that we're waiting on the final decision from the large oil company big wigs. At such large organisations it is quite likely that they may meet once a month for example to sign off funding for multiple projects - hopefully one of those is ours: mind it's a huge large US onshore safe oil discovery with a bonus shallow 8,000 acre flowing structure confirmed.

One way or another.

But let's face facts this large oil company approached us and CC flows unstimulated by up to 150% more than AM was expecting (50 bopd) and is the 'game changer'. Permits in hand

....as I believe this is now under NDA in accordance with the latest JV update from Feb 1st RNA. t is clearly a friggin positive, ladies and gentlemen - as it stands details cannot be disclosed to the market because the JV is VERY MUCH ALIVE. If this info were to be disclosed to market I would want a supporting JV statement otherwise I would be a bit more concerned although again COPL would have to disclose this outcome. Mind, there will be plenty of other suitors wanting a slice of the is onshore prize asset of which there is little doubt

We have deduced that the JV is still very much alive. The RBL can happen using the reserves report. Also, a major plus in accordance with the AM's latest RNA statement, there is now a sense of willingness from the both our cornerstone investor and senior credit facility for COPL to continue to exist/progress.

I recall a poster from a few days ago stating that come June/July we'll hopefully be doing a lot of back patting as this all nicely comes together

Most importantly our principal stakeholders understand this too, and are working with the Company to exit this period stronger than it entered."

So the senior credit facility and Cornerstone are working together to get us through this - as we wait on the JV and RBL

If the two CC wells come on line at say 200 bopd unstimulated on top of 1,400bopd takes us to 1600 bopd does it not

Stimulated Jed 400 bopd is achievable (3x flow rate). We probably have completed at least 1 CC recompletion which is now under NDA (according to the RNA - no point pi**sing off the JVP as it were) We certainly could do 6-7 wells

Mind I was told to be patient at 16p and now it's 5.5p. However, that's the latest.

A postive JV outcome can land any day through March - possibly even April. OfC it could be cancelled but ultimately they approached us and now they are gunning for CC.

We won't hear anything on the the 2nd and 3rd well while we are under NDA as clearly the RNS told us this is now part of the JV. Wouldn't want to break the partner trust

Everyone needs to do what they have to do. However, bottom line is we all 'need to be patient'

I'm sure AM pays tax so it's not a clean £500k is it. AM took £50k in a previous placing at 20p sonit's well over £400k. No body likes to lose money period

If the JV was off COPL would have to disclose it's a simple as that. Obviously it is processing.

No news is not bad news

I would say £500k is a big sell not £42k especially when a settlement of £115k was recently granted for free

From the last sentence.

Cornerstone investor is one principal stakeholder - the other is clearly the Senior credit facility. Tells me that the latter will not want the company to go into administration as it could take years to get the money back if they do at all. The waiver tells me they are onside. We know the Cornerstone is. Fact is we have a lot of oil and are all set to do very well out of COPL.

Moreover, surely the details of the JV have been amended to include CC (shallow, fractured 8,000 acres flows unstimulated) Apprently, we are dealing with a large organisation so one would expect their hierarchy, for arguments sake, will meet to discuss monthly to approve/disprove mutli projects because that is how they operate at that level.

The SP is beyond depressing but I remain optimistic about the future. We just need a bit more patience because this cannot stay valued at £18M when our peers are worth multiples on a heck of a lot less

SMISH - the JV language was all about the Fed deep until the 'game changer' which is 100% COPL owned. Cheap to extract fractured shallow oil reserves across 8,000 acres. That is def in our favour Currently the MCap would suggest not even one pound is assigned to this which is insane

It doesn't make business sense to upset the partner for various reasons. It is quite clear that the goal posts have been moved since our CC unstimulated flow

The RBL is to do with the upper Shannon unit formation only with booked reserves of 46mmbls. The Fed deep is totally independent for which we have been granted two permits by the Fed

'If the federal government isn’t willing to give drilling operations the go ahead on federal land, the company could potentially find a parcel of private land to set up and drill horizontally to the reserve.'

Well two permits have already been approved for the fed deep drill so it blows that issue out the water

To me it Stas20 the MCap is insane

Looks like the £42k roll over trade at 5.6p caused the drop

It's torturous.

The asset has soooo much potential. And we are lead to believe that the partner wants more than just the Fed. Permits in hand or in application. Produced 1,400 bopd at the beginning of the month all unhedged. Retire than senior credity facility using the 2022 uodated reserves

Observation NT to buy at 5.75p at the end

hear hear