Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Just need a cheeky RNS or two to increase the buying volume.
Looks like it’s ready to move just need the buying volume to increase.
There was a gap in the charts I think one poster pointed out it’s from 0.38 up to 0.6p
Just need to break and hold that 0.38p
Remember Atomic was a fantastic deal to us at $39 per barrel.
Front end costs at $28 per barrel which is a minimum of $11. Given we are at $71 that $11 is now $43 that’s $33 additional profit per barrel.
Now given net back reduce towards year end that $28 will reduce significantly adding to the $43 per barrel.
There aren’t many producers with profits like that and profit that are going to increase per barrel as cost reduce.
The target which I don’t think will be far off between SF and CC is 5,000 bopd that’s $215k profit per day x 360 = $77.4m per year profit.
$77.4 x 0.73 (exchange) = £56.5m (£4.7m profit per month)
Given this is very close our yearly profits will sone be more than our current MC!
Now how is Thisbe en possible this suggest that nothing is priced in let alone PE ratios or true asset value.
Now throw in a massive oil discovery and excellent results from our 6 wells at FD then this is going to be a monster as we have infrastructure etc in place.
Then possible update on OPL226
This stock is crazy undervalued.
Lots of news flow to come
- Q3 Account (quarter finished end of this month)
- Increased bopd
- Additional well updates are Cole Creek
- 6 Wells - Results from federal Deep (increasing known reserves)
- Cuda have 12 days to show there hands on bids
- Possible additional assets (neighbouring lease owners have contacted Arthur about requiring their lease and we have Cuda)
- OPL226 update due
- As we draw to year end net back costs reduce
- As per interview 5,000 bopd expected from SF by 2022 (just over 3 months)
- WTI stabilised approx $70 (market predicts bull run)
- Due to shear volume expecting a number of TR-1 RNS
Arthur in his interview was gobsmacked by how low the SP is and still nothing priced in yet alone Atomic and the RTO as SP and MC lower than pre suspension.
Deal was made for Atomic at $39 we are now sat at $70ish
Miscible flooding continues to exceed expectations and now optimisation period and stabilisation has happened and maximum gas injection is complete we should really see miscible flooding increasing in way of output.
Really looking forward to to pop here going to happen sooner rather than later just a case of sitting tight
Funny you should mention the interview did anyone pick up on this:
“Barron Flat Shannon Unit was producing 1400 bopd it is expected to reach 5000 by 2022 (is this January).
It’s Cole ceek unit 3500 by 2026.
Today predictions have been revised as the Wyoming assets continue to perform ahead of expectations”
More words to support a massive jump in figures!
I guess they are waiting to make sure the seller/s are completely out and will be hitting the market with a lot of news flow, why gift them more than they need to!
https://twitter.com/mikec841/status/1437668429079662594?s=21
I stand corrected if wrong so please feel free to contradict this post of I am;
I am rather excited.
So after writing up the notes this 48,000 acres sticks in my mind and with it the directional drilling and 6 wells.
So here goes
We have 48,000 acres - 1 square mile is 640 acres.
So to give you an idea that’s 75 square miles of unproven resources within that area but hydrocarbons are known (just not how much) but given neighbours resources and possible multiple layers this could be HUGH!
He told us today that they can drill horazontally for 2miles so given the resource area 6 wells could provide a very good indication of reserves and location of hydrocarbons across the strike.
If my calculations are correct Durham in the North east of England is 72 square miles to give you an idea of how big 48,000 acres or 75 square miles.
Land in area of size for reference: http://www.demographia.com/db-engla.htm
Arts closing line is there will be a great lift long term shareholders .
Arthur is upbeat and looks very pleased with himself there seems to be a massive shift change in the trading of this stock as seen with the volumes today and hopefully a sigh of things to come GLA
Arthur Millholland: Interview update on Q2 accounts dated 01 September 2021
• Strong update and points out that the trend continues upwards
• Highlights the high-quality asset we have
• The proof is in the pudding; Shannon Unit Gas Injection is performing better than expected with production up 124% since the 1st April 2021 with 24% increase in the last two weeks from the update the market received on the 17th August 2021 which Arthur points out is much higher than originally forecasted and makes note that this is only set to continue to increase.
• As we are going to be ahead of the game and we are going to be further forward in terms of production, there is a requirement to carry out upgrades to support increased in pressures and throughputs (he does mention that this is cheap so no surprises or BIG costs)
• There is the initial lag from gas injection to production and in this time netbacks are higher, as produced oil comes up costs will go down as we approach year end 2021.
• 48,000 acres rights below the federal deep unit – well was spudded on 17th August 2021 and completed Friday 28th August 2021 (caissed well).
• Oil production “non dip” below Shannon 4,5miles away , oil production “up dip” drilled in 1950 was abandoned but has known hydrocarbons. (https://www.macrotrends.net/1369/crude-oil-price-history-chart Oil opened the year 1950 @ $29 and closed @ $27. My view is that the profit margins may have been the reason for abandoning at this time)
• So there is lots of upside to what we are sat on
• Lots of value to shareholders
• Other assets in Wyoming
- Partners working interest who are in a lot of financial difficulty – CUDA. Arthur confirms they are in discussions with their creditors (so expecting updates on this)
- Lease hold in connecting areas, the owners have come to us. We can see a lot of upside in upwards trends. Makes a lot of sense to expand and utilise. (my guessing is it would make sense to sell to us as we have the infrastructure in place, this would be high costs for the current lease owners to develop)
• We are not flaring and those wells producing gas will use a gas re-capture and injection to aid the miscible flooding (again allowing for further reduced costs).
- Allowing us to get the maximum out of the assets
- Continued production growth Shannon Unit
- Response of initial gas injection was 3 weeks of May 2021, into August production responded and really went off.
- Year end production will be much higher
- Dramatic change in costs
• All six wells will be drilled
• 3 offset production wells to drill release follow-up drill in the next 6-8 months
• Notes they have the ability to drill 2 miles horizontally to gain a depletion strategy
My question is, we know its BIG but just how big. There is scope for rapid expansion and growth to reserves and resources. In the meantime miscible flooding continues to outperform the Rider Scott report and exceed expectations.
Just to point out accounts for Q1 ( January to March) where delayed due to RTO.
In Q1 accounts it was highlighted due to RTO date of the 16 March accounts only showed the initial period of miscible flooding at Barron Flats for 16 days.
A big jump was noted in that RNS of 50%
Q2 accounts issued today show the period of April to June with a total increase of 123% from the 1st April - 24% of which has come from the last update on the 17th August (only 2 weeks ago).
To continue to see large percentage jumps in bopd cements the fact that miscible flooding is reacting better than anticipated and beyond the expectations of the simulator and software that the engineering team used to gauge outputs and support the Rider Scott report.
With the continued output figures it will be interesting to see where we are in 4 weeks.
That’s correct only 4 weeks remaining of Q3.
Fantastic efforts by all involved and things are going to start to get very interesting, very quickly here.
Still standing by my calculations, was always a 12-18 months hold for me to see true value. I guess the only thing I couldn’t have calculated was Hadron dumping and PIs pulling cash out or trying to trade until we get traction.
This will re-rate just a matter of time but going off the updates we are seeing surely this is de-risked as miscible flooding is performing better than expected and bopd continues to increase faster than the RS report.
Operating Highlights at August 31, 2021 from the August 17, 2021 Update
· COPL's Wyoming assets continue to perform significantly ahead of expectation
o Current Oil Production at August 31st is 2,720 bbl./d (gross), 1,604 bbl./d (net) a 24% increase from the operations update on August 17th, and an increase of 123% from 1,220bbl/d (gross), 706 bbl./d (net) at April 1st
o Successful recompletion of the 3rd marginal/shut-in oil well of 12 at Cole Creek
o Oil discovery at the 100% working interest Barron Flats Federal Unit (Deep) exploratory well expected to open new field developments. Six (6) oil bearing sands totalling 246' (net porous sand)/282' (gross sand) intersected. Production casing is currently being set to total depth of 9,220'.
· Strong outlook for COPL year end
o Oil production at the Barron Flats Shannon Unit will continue to increase due to strong gas injection response
o Oil production at the Cole Creek Unit will continue to increase through the recompletion of marginal and shut-in wells
o Barron Flats Federal (Deep) 100% oil discovery to be tested through casing. The testing program will lead to initial production and define a further exploration/appraisal and an exploitation strategy for the targeted reservoirs
· Reviewing other value enhancing asset acquisitions in Wyoming
Arthur Millholland, President & CEO, commented:
"Our Wyoming assets continue to perform well beyond our initial expectations as I indicated in the August 17th operating update. Crude oil production has increased 123% from April 1st, and continues to increase weekly. In fact, crude oil production has increased by 24% from our last update just two weeks ago. The increase in crude oil production is due to the ongoing enhanced gas injection program, commencing on April 1st. As such, oil production will continue to increase as the surface well site production facilities are enhanced to handle the increased oil production rates and associated higher working pressures.
"We are excited about our 100% owned Barron Flats Federal (Deep) oil discovery announced today. Our next task is to test all six of the sand intervals through casing over the next several weeks. This well is a testament to our team which identified substantial upside below the Barron Flats Shannon Unit, further demonstrating the value of the Atomic acquisition to COPL. The Company's enviable block of leasehold as well as its production facilities will allow for additional significant oil production growth. Associated gas production from these reservoirs will be utilized in our miscible operations thus continuing with the Company's net zero gas flaring production operations."
"With the oil price and our assets performing well ahead of expectation, the Company is in a very good position for the short, medium and long term.
Increasing bopd and revenues so why sell when monthly profits are set to continue to increase?
Noticed they opened up the spread.
Few sells triggered the drop and to hold the SP in the red now tightened the spread.
Expecting a blue close.
Q2 accounts not late, on or before the 31 August so can drop anytime today, sometimes fall to catch the Canadian exchange.
Let’s have a look at two posts.
It’s funny to see how some individuals claim a post is a ramp when stating the obvious or facts.
When a ramp is an elaboration of the truth to sell so pass something off as being better than it will actually be.
Let’s give this a go
Description 1 (not a ramp)
I am looking forward to the coming weeks and months ahead on COPL.
We know that Q2 accounts will arrive on or before the 31st August.
Given the previous update in Q1 accounts we can guarantee that the bopd is at 2200 minimum but likely to be closer to 2400-2500 as we approach the 31 August with a targeted out put imo of 2,700 bopd by end of Q3 which is just over 4 weeks away.
This is allowing for a steady increase across both Barron Flats and Cole Creek.
Description 2 (the ramp)
Hi all been speaking with Arthur, he couldn’t help hide his excitement.
Barron Flats is reacting better than anticipated, this has allowed the team to increase the gas injection which is seeing phenomenal results.
Arthur is hoping to update the market that Barron Flats is producing 4,000 bopd.
Drilling program has been accelerated at Cole Creek and we have hit the sweet spot on all the wells (now 5 of 12) each producing 400 bopd that’s 2000 bopd in total .
Currently producing 6000 bopd between the two assets.
I really shouldn't say this but I cannt keep it to myself, after a few low ball offers to Cuda owners they have buckled, one because they are defaulting and not receiving a thing as part of the default clause but the increasing front end costs of the accelerated and aggressive drilling program has killed them off.
Art has confirmed that they have excepted an offer and that the funds from the warrants and cash in hand with the finance head room is more than enough to cover this. Ownership will now be 85 and 100% respectively.
He has asked me to be mindful of the above points and not to expect an update straight away due to the sensitivity of the Cuda deal but a bonanza update is coming and will arrive sometime after the Q2 accounts.
He has also advised that this period will allow the sellers to get out and that he wasn’t happy with the way Hadron dumped there shares but is happy that they and those that don’t believe in him or COPL will be out as not to benefit from the next phase of our journey.
He has passed on his gratitude to those PIs that have supported him and the team over the last few years. It’s been rough at times but true value will be reflected in the SP and those that hold will not be disappointed.
So if you have funds or where looking to top up now is the time to do so, I will be selling my house, my kids and wife and putting everything I have in here. If you have any sense you will do the same.
Don’t say I didn’t tell you so - GLA
We where banging the drum 18 billion fully diluted this isn’t a surprise ………
Looks like MM filling that £150k trade not going to give sellers more than the have to otherwise it’s bad for business.
Wonder if they will give us a little leg up on open ?
And art is also diluting himself and his family and friend.
The money l be used wisely imo but I’m sure you will argue differently
Joey dilution is anything that increases the shares in issue.
However, not all dilution is bad dilution.
Being an explorer keeping the lights on not really going anywhere just paying wages etc is bad for investors.
Dilution that furthers the company and creates value is good dilution.
Why the current MC can sometimes see a drop on SP at some point the SP rises due the the positive nature in which the funds have been used.
Atomic - revenues / cash rich / profits
Warrants - cash in bank but will allow expansion and increase revenues which increases SP and MC
Increased drilling program
Gas contacts (now fixed for 5 years as gas prices rise)
So used wisely can add a lot of value but you need to understand how.
I could go on
You know this company has no debt?
Please can you tell the BB what you think the MC is?
Can you tell the BB what cash we have in the bank?
Can you finally tell the BB what you interpret the monthly revenues to be?
Finally can you give a conclusion based on your figures why you think PIs are ramping.
After all true value here should be 5-7.5pps currently imo and why I continue to add.
Because PIs add and the SP drops they aren’t ramping.
I look forward to your detailed reply……..
https://oilprice.com/oil-price-charts/45
$67.59 live price continuing in the right direction
This falls on line with what I am hearing
Art has made several low ball offers and Cuda owners aren’t happy
If he knows there is a window, Hadron dumping aggressively , PIs cashing out, warrants. Temporally suppress the SP he can argue the low ball valuation for Cuda share as we own 57.7% (hey look what the market values Atomic at we where X before RTO)
Given we know he has cash in the bank
The value of the warrants
The $20m remaining headroom
Monthly revenues profit minimum of £1.1m
Wipe out Cuda
CNOOC might not like Arts aggressive stance and might not like shelling out at the front end.
They will not have a say as they only own 15% so he could be pressuring both.
If he isn’t going for the jugular he could be away to go mental with the drilling program and hike up the front end cost that Cuda just cannt afford to pay increasing their loan account and if they are defaulting might be receiving FA
Cannt imagine CNOOC will be happy either as they are also shelling out or move aside.
Either way we buckle Cuda and possibly CNOOC or we have a massively increased drilling program with increased bopd
I don’t see a negative it’s not as if we are an exploration company we are a producer we have proven reserves.
And to throw the curve ball in he might be announcing another miscible flooding play
A month or two will be completely different here.
In the mean time you have the freedom to access your investment, top up if you can or need to sell then so be it.
We waited 6 months for this and some idiots cannt see the wood for the trees and it’s because they counted the value of the magic beans before they give them chance to grow.
There will be a correction on true market value ……… GLA
Blue finish traders went quiet as they got their cheap entry price from the bed wetters selling.
And look no dumping of shares ……… funny that!