The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Edgein
agree the JV negotiations are being run by Art and only Art .
and COPL America is 100% indirect subsidiary. ( never understood the indirect bit )
But parent company COPL and hence Anavio with one board member soon to be two board members of the parent company will sign off the deal ( if meeting expectations on value ) and recommend to shareholders , that's influence on the JV outcome.
Stas20 like your thinking re COPLA , Art comfortable moving to COPLA " focus on JV and field for now " & still influencing via Cowan's " in good hands "
Edgein disagree , Anavio have one , soon to be two people on the BOD - that's influence.
Another reason to under promise & over deliver :-
"An employee voluntary salary reduction initiative is in discussion with senior employees,
reductions will be "made whole with bonus" when certain milestones have been reached as determined by the COPL"
Wish Transhaven would labour on his other Anavio work elsewhere.
Think you might of hit the nail on the head there Stas20
https://www.vermilionenergy.com/our-operations/north-america/united-states/
2014 - Vermilion entered the United States through the acquisition of 68,000 acres of land in the Powder River Basin of northeastern Wyoming for $11.1 million.
2018 - Acquired the assets of a private oil company in the Powder River Basin for total cash consideration of $189 million, adding 55,700 net acres of land (96% working interest) and 2,500 boe/d (63% oil and NGLs) of production.
PS wasn't that scarce GGS piping sourced in Calgary
Credit to / courtesy of Eazy
RNS on the 6th September…
“Through further geological study, he and his team have revealed a vast area of bypassed oil pay in the Cole Creek area, adjacent to the BFU. The prospective horizons are currently under Joint Venture negotiation with a respected industry leader.”
Indications are COPL have found more oil under their field which would be in addition to their billion barrel discovery the market is already aware of…
I've done some digging on Cole Creek and I've come to the conclusion the additional oil was probably found to the north side of Cole Creek due to us having no operational wells currently in that area and Arthur has been doing well tests in the north recently... What other reason would he have for doing tests up there when all of the current producing wells are to the south ?
This area is 3.5 miles north of the operational wells in CC currently targeting the frontier 2 formation…also any existing wells(currently offline) COPL have in that area are all targeting the Dakota unlike the operational wells to the south so the frontier formation remains untouched...
If my suspicions are correct then this would definitely be a very vast oil find under Cole Creek and something that would definitely benefit from CO2 injection for enhanced oil recovery and Storage.
JV partner must be licking their lips
These links work :-
https://www.shalexp.com/wyoming/converse-county/cole-cree/143123
https://www.shalexp.com/southwestern-production-corporation
RNS 6 Sep 2023 quotes :-
" further geological study, has revealed a vast area of bypassed oil pay in the Cole Creek area, adjacent to the BFU. The prospective horizons are currently under Joint Venture negotiation with a respected industry leader ".
" if the interest being shown by certain third parties in joint venturing with us matches our own views on value, we will seek to further scale through partnership."
No Anavio TR-1 coming.
" Anavio entered into arrangements to sell all of the Sale Shares to persons outside of Canada at a weighted average price of 2.7p per Common Share, resulting in aggregate proceeds of c. GBPÂŁ3,270,000 (approx. US$4,000,000 ). The dispositions took place through the facilities of the London Stock Exchange following the Transaction and, consequently, Following such dispositions , Anavio does not own or exercise control or direction over any Common Shares. "
Proof that Anavio borrowed shares to short the stock to lower the bond conversion price to 2.6p and used these equity shares to return the borrowed shares.
Https://www.newswire.ca/news-releases/anavio-equity-capital-markets-master-fund-limited-announces-acquisition-of-securities-of-canadian-overseas-petroleum-limited-848615087.html
Still a shock when laid out in plain sight
Anavio unsecured but firmly in control ,
Https://www.newswire.ca/news-releases/anavio-equity-capital-markets-master-fund-limited-announces-acquisition-of-securities-of-canadian-overseas-petroleum-limited-848615087.html
WOW so who's the Purchaser ( TR-1 needed ) and who's the new Director
When do we get the TR1 from Anavio or their "Purchaser"
" Equity financing of $4 million at a price of 2.6 pence per share.
provided ENTIRELY by the Company's leading equity and convertible bond investor Anavio Capital "
Issuance of the 126,182,965 common shares on October 10, 2023.
We've got the id of the new Director to come as well
RNS 6th Sept 2023 " The Company will appoint one additional independent non-executive director to be nominated by the Purchaser by no later than November 1, 2023 "
Where's this notion that he's concentrating on increase production come from ? - that's Arthur's job
New Director's identity may reveal the identity of Anavio's Purchaser of the $4 m equity
or re Anavio going to issue a TR1 for 15 %