Member Info for Charlie1984

Spudton I don’t mean to sound like a d!7khead here or contradict you.
However, I thought that I had interpreted the interview much differently.
So just played it over again and quite frankly glad I did as I managed to take notes something I didn’t do the first time round.
So thank you, strange how much more you take in when the children aren’t climbing all over you.

So my take on the interview was this:

Romania - Major Asset
Satu Mare - 2,950km2

More that 180MMBoe un-risked resource
OR
75 MMBoe mean risked recoverable resources estimated to be available for development.

In reference to your post:

I listened into the interview from approx 5mins 30 sec the reference you make
“Regarding the 1.2% recovered...he said in his presentation that this was very low recovery ie not easy to recover”

This in relation to the asset in Tunisia
Sabria
Asset is said to have 358 MMBoe (independently verified)
The resource has had extremely low development with only “1.2% produced”
The reason for this low rates was a variety of reasons - simple reasons - Pumps to increase revenue had not been installed.

Any way the interesting part out of that 358 MMBoe they believe 25-35% recovery factor of which only 1.2% has been recovered.

So ladies and gentlemen I get to the interesting part.

Satu Mare - we use the 75MMBoe mean risked (not the 358MMboe - don’t want to get to greedy)

Sabria - we use A) 25-1.2% of 358 MMBoe = 85.2MMboe + Satu Mare 75MMBoe = 160.2 MMBoe

Sabria - We use B) 35-1.2% of 358 MMBoe = 122 MMBoe + Satu Mare 75MMBoe = 196MMBoe

Recoverable average totalling

160.2MMboe and 196MMboe

I don’t need to calculate the value of thes reserves to tell you that 160-190m x ($64 oil- $9 cost) $55 is phenomenal figures guys. In fact could be life changing at only 1.141 billion shares in issue.

For those that do t understand where I got this figures from or not to sure what interview we are talking about please, please watch this:

https://m.youtube.com/watch?v=VA3M8ijRGCg

https://twitter.com/mikec841/status/1382695774308466702?s=21

Trying to get our profile up on social media guys and girls please like and re-tweet please

This figures are for 3,000 bopd not accounting or considering and gas revenues

Revenue $53m
Work this backward

$53,000,000 divided $64 (oil price) =828,125 barrels per year
828,125 / 360 = 2,300 bopd

2,300 x ($64-9 = $55) x 360 = $45,540,000

45,540,00 x PE 4.5 =$209,960,938

$209,960,938 / (USD to GBP = 0.72) = £147,571,875

£147,571,875 / 1.141 billion shares in issue

= 12.9p
However, i have worked back using that figure as net and taken away the $9 costs

If I use the figures we know or expected bopd to be:

3000 bopd x 360 x $55 x P.E 4.5 = $267,300,000

$267,300,000 x 0.72 (exchange) = £192,456,000

£192,456,000 / 1,141,000,000

= 16.8p

(Trying to do this on my phone why I am out so would appreciate someone double checking these figures please)

MrExec

Please can you click on my posting history I posted a few links yesterday to our CEO interviews please take the time to watch these, they are very interesting.

You will hear the CEO talk about how the debt is repaid in there and how we have low costs and set to increase production.

From the horses mouth he is on the business to make money and has previously worked for Goldman Sachs

Debt free even my phone predicted text sorry, very annoying

Yes dept free

Ncar I looked over accounts and the PE ratios -1.36

Net income up, net revenues down, to reflect paying down debt and Covid.

Given debts are off account, profit flying in and set to increase on bopd.

Expecting a flip from negative to positive on PE ratio

Calculation would suggest that 3,000 bopd at a PE 1 = 5.36p

Which ties into what we have been told on 2P

A PE of 2 for example would double that, 3 treble that etc

Then you need to factor into the calculation the revised bopd

For a company with no dept PE should not be negative even at the very low end I would expect the PE ratio to reflect a minimum of + 3-5

Once I have the revised PE ratio I will put some future figures together based on bopd and share.

Minimum flip on book SP for me is 72%.

If you increase the bopd and increase PE over +1 expect this to be substantially higher.

I tried to explain your point on Twitter

MC of the likes of 88e, UKOG, BOIL etc

I wasn’t trying to bash the. But especially 88e and UKOG have had more failed Dawn’s and placing and not delivered FA apart from dilution with PIs picking up the bill.

COPL and SENX have oil are producing and production only set to increase, low cost, SENX is dept free.

I looked over accounts and financials and listened to numerous interviews having a CEO that ihas a fantastic background, knowledgeable and understanding in O&G and a banker who is on the business of making money, is like a flashing light saying buy me !

Why more arent buying shows there is little know about this stock and not yet on radars.

Increase profits and ii taking positions once we pass £50m MC will get things accelerating here imo way, way undervalued for what we have and are currently producing let alone way to produce !

Yes another 4-5% today gain

Not only Russia

https://www.google.co.uk/amp/s/www.aljazeera.com/amp/news/2021/3/26/houthis-say-launched-attacks-on-saudi-arabian-oil-military-sites

Taking a guess

The fact preliminarys were issue 26th March should be good to go for issue on the 30 April (Friday) issue to the market Tuesday 4th May after the bank holiday weekend.

Ian - fantastic point.

Worth noting that potentially that seller has now gone.

If you look at previous trading days the seller has offloaded between 3-5m share per day.

If you look at previous trading days the seller had a signature 500k sell trade and done this throughout the day.
Without trying to jinx anything no 500k sell trades today.

I am in both COPL and SENX

I have had my fair share of oil and gas companies that chaise rainbows and don’t deliver.

I was in MSMN at 11p to 50p plus, all on hype and speculation

How many shares like 88e, UKOG etc have risen on anticipation of hitting it big and hitting a duster or hitting the PIs that support them with dilution to fund a pipe dream.

COPL and SENX are completely different the have producing assets with revenues and looking increase those daily bopd figures.

More for looking for the diamond in the ruff these days, like this one, it has true value it just need buffing to see it’s true worth.

SENX is not on many PIs radars as most buy absolute ****e on hype without researching, following the herd, they know nothing about the company, it’s assets or the financials. They just see imaginary pound signs that in most cases don’t materialise.

Once news drops next month and word spreads the herd will arrive. This will fly.

At the moment I am happy for a steady and gradual rise.

We have oil and gas, we are producing, we are debt free, production to be increased to 7,500-8,000 bopd, low costs under $9, infrastructure in place.

Most importantly a CEO that has a key understanding and knowledge of O&G as well as the financial side as he has also been an investment banker for Goldman Sachs- he knows how to make money, he wants to make money and he knows how to make money and return shareholder value.

What is presented makes this share a no brainier a clear STRONG BUY imo - GLA

Great interview here guys for all this looking to get in.

https://m.youtube.com/watch?v=VA3M8ijRGCg

Excellent interview if you haven’t watched it Jeffery Auld a strong background in O&G and also been an investment banker for Goldman Sachs - to quote him he is in the business of making money. Touches on the recent placement (2020) and how that was used to pay down all debt.

This flows nicely into this interview

https://vimeo.com/530202441

And another consideration and point I like to highlight is share hold on sticky hands and those with significant holdings:

STOCK INFORMATION
Presentations

The Company has 1,140,660,629 ordinary shares outstanding.

As of 05 January 2021, there are no shares held in Treasury. The percentage of shares not held in public hands is 8.02%.

There are no restrictions on the trading of the Company’s ordinary shares.

As of 05 January 2021, significant shareholders of the Company are Richard Sneller (11.33%), European Bank for Reconstruction and Development (9.96%), Marlborough Fund Managers (9.44%), Kulczyk Investments SA (8.02%), and Quercus TFI SA (5.86%).

I calculated all significant holders totalling

= 44.61% of all shares in issue

Sat doing my own calculations.

If you incorporate your calculations with a positive PE ratio this will explode.

BOPD X (OIL PROCE - COSTS) X 360 (Days) X PE RATIO

Current MC not even scratching the surface of the potential. Don’t understand why more have stumbled across this stock.

Been sat doing calculations all morning on this and made my first move with 340k this morning.

Net revenues up production at 3,000 bopd low costs of $9 ($54.64 per barrel profit)

Seeing the negative PE -1.346 ratio. Due to dept repayment effecting profit.

However as this has been paid down PE should flip to positive every PE which calculations show to be a substantial increase in MC.

First target here for me is 5-10p chasing down the high of 13p in 2019.

Will be adding to this as we move along but excited to see how this one plays out.

BB seems like a decent bunch

Warrants

That was supposed to read:
miscible flooding and my experience bump x2 posts

Still standing buy my stance that these will be unleashed once we resume trading, company will use the “stabilisation period” as a window for delay.

Expecting waves of positive news to hit the market to ward off profit takers - only my opinion.

Miscible flooding was originally set to increase flow by x3 COPL have recently stated this is x5.

If you missed my earlier post my last project was Gas Capture and Injection in the Kurdistan region of Iraq - heavy crude stuff like tar.
Injection of gas increased output by x10 (heavy crude) We have light crude WTI flows freely at room temp make of that what you will !

We have oil we focus on that oil and the development of that field.
Increasing production via the use of miscible flooding, which started a week ago 1st April.
All licensing in place if we require any additional wells but as it stands it we will not be required to drill this year as we have enough to go off.
Miscible flooding or gas injection in my experience I have always worked on heavy thick tar like oil (latest project - gas recovery and injection Iraq) it increased the daily out put from 12 tankers a day to 120 tankers (road oil tankers) I am using this as an example to give you an idea what miscible flooding does to flow rates.

When you talk about WTI (what we have) your talking about a light crude, Light crude oil is liquid petroleum that has a low density and flows freely at room temperature. It has a low viscosity, low specific gravity and high API gravity due to the presence of a high proportion of light hydrocarbon fractions. It generally has a low wax content.
Apprised to Heavy Crude
Heavy crude oil (or extra heavy crude oil) is highly-viscous oil that cannot easily flow to production wells under normal reservoir conditions.
It is referred to as "heavy" because its density or specific gravity is higher than that of light crude oil.

Now given my experience and the comparison between the Light crude and heavy crude, and my last job extracting very heavy crude they managed to increase production by a factor of x10.

IMO once you increase well/reservoir pressures for light crude what flows freely at room temperature what do you think it will do?

Delays only increase output for opening, the above previously posted so if you kissed my take worth read of my experience