The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
We will receive £1m in January at 0.8p a share from our Executive Chairman with a further £8m available to draw. As this conversion is currently above the current share price it will have no negative effects. It’s unlikely that these shares will be sold and is a clear indication of the confidence AK has in the company.
There are cheap legacy warrants that we will see enter the market over the next months but in the greater scheme of things it’s nothing to be concerned about.
Feel your pain SteveE60. Got out of COPL at 1.7p three weeks ago and 60% down. Luckily put it all into Corcel around 0.45p.
Been buying here since early September starting at 0.26p. This might turn out to my best investment ever.
O Full Binga reservoir section (~80m) encountered in the well with identical zones encountered as in previous TO-13 well and oil shows throughout
Question: is this likely to lead to multiple horizontals between 13 & 14 wells.
Tobias 14 will be completed in a few weeks.
Flow testing of T13 & T14 in Q1, data will used for design/implementation of an early production system with oil production expected in Q2.
How this is still sub £10m market cap, I have no idea.
Had a bad day Friday. Was doing a dummy trade of 1m shares to check price as HL wasn’t updating well. Managed to let phone slip out of hand and completed the sale. Been patiently waiting for this to come good and 60% down.
Price started to lift and I couldn’t bring myself to “average up”. Will see what happens this week maybe I will get back in. Put a some of it in Corcel, if good news comes there I will likely sell and swap back. Nightmare.
Been trying to look at the correlation between gas injection and oil recovery. The may 23 presentation has a chart on page 4. It’s hard to work out because it’s not scaled very well on the time axis but peak production seems to lag injection by about 4-6 weeks.
Thanks Gorgie,
It was similar to the graph at the end of that video but had a lot more info. It detailed actual daily injection, production and water rates. It also showed the point of reduction due to excessive pressures.
I will keep looking.
I while ago I read a presentation with a slide that clearly showed the correlation of the NGL injection to recovery of oil. I can not find it anymore. Does anyone know of it and possibly share a link? Would like to see it again to look at the lag between injecting and production. Thanks in advance.
I was over optimistic regarding increased production related to the new GGS. However reading the RNS’s again it’s clear the benefits won’t be realised until Q4.
15th August
COPL is pleased to announce that the gas gathering system is functioning and was commissioned on time and under budget in July 2023.
6th September
Currently, the Company is determining the best level of efficiency and is restarting NGL gas injection in September. The Company is focused on delivering production results in Q4 2023
I look forward to a little increase in September numbers but mostly a RNS sometime in Q4 detailing stable injection and recovery figures. Fingers crossed.
Todays Times
SSN-Aukus will be the largest, most powerful and advanced attack submarines the Royal Navy has operated and will eventually replace the Astute class, which BAE Systems builds at its site in Barrow-in-Furness, Cumbria. The funding follows the Aukus announcement in March by the UK, Australia and the United States.
Pretty sure RR have been receiving money and been working on this for sometime. But my big take from recent news is the commitment the UK is going to have a fleet of AUKUS submarines too. This will become a massive RR defence order spanning decades.
Re Mafee’s post: 18 Sep 2023 21:18
You use a % net back of 30.8 based on Q2 costs to calculate a projected net back on current gas price.
However I assume production costs will not be proportional to crude price and are fixed, they may even reduce as consequence of a greater economy of scale. They data you provided is useful to highlight the problems however I think the net back will be better than the percentage you indicated.