Member Info for Charlie1984

As per RNS COPL has completed its first stated 2022 objective, and now focused on its second and third objectives for 2022.

COPL's objectives for 2022:

ü Complete the acquisition of the Wyoming assets of Cuda

· Re-finance COPL America Inc's credit facility to reduce COPL's cost of capital;

· Optimize and increase oil production at the operated Barron Flats Shannon Unit miscible flood;

· Commence phase 1 of the delineation of the Barron Flats Deep oil discovery;

· Maintain the Company's ESG operating credentials.

At the time the Atomic transaction completed, the assets produced 1,100 barrels of light oil. After the implementation of a works programme by COPL, the asset has since then far exceeded original expectations and current production (gross) of approximately 1,600 barrels a day is restricted due to ongoing facility constraints. The Company is commencing its production optimization program which will unlock the current production restrictions increasing production in the short term, and in the future, through well optimization strategies, staged facility upgrades and additional development drilling. The asset has identified 2P reserves of approximately 38 million barrels (net to COPL America) of light oil, before the payment of royalties

Certainly a lot of information and news flow to come in the coming weeks and months, a very detailed RNS, digesting that last paragraph sound like they could be opening the taps very soon as part of the works programme ................ Lets see GLA

RNS today or tomorrow just watching and waiting for the next red flashing dot, how this hasn't risen in anticipation and positivity given what we know is beyond me ....................

Bought into what ?

The spread sheet looked at a number of scenarios for the BOPD, cost where deducted and various Factors used for PE ratios with an average taken for no conflict onshore Canada.
At the time sloppy balls there was no hedge was there as we were suspended.
Now we have money to pay back this can be factored in.

Not sure what value you add here but it’s a **** poor show by you and your chums

Duster that’s the view of many apart from the odd handful who are working this board together

What’s with the group tag teaming the board with negativity?

Must be our local traders

Done absolutely drivel getting spouted on this board and these guys would have you think they are invested.

No Cuda is finalised why don’t you pipe down until the RS report lands and the road map telling the market what’s is scheduled to happen in the coming months.

Since they have had months to play about with the pressures and assess the best way forward we might even get a surprise production update ……….

Let’s wait and see don’t want to come across rampy but we have turned a corner and we are heading in the correct direction, just wait for the news flow and updates GLA genuine holders

RS Report expected to be published next week

Just get the BOPD update out to the market and new time line for achieving targets - all falling into place

Rich period of news flow to come excellent .................................. AM said he will inform the market and there was plenty going on and he has been straight out the traps with the start of that news flow GLA

Unfortunately not everything can be straight forward. As Daniel points out this route is much more favorable for the company and its shareholders

As I have pointed out most haven't digested the RNS properly

Exactly and who is going to sell with a mass of news coming fueling the rise in that period, if we see an updated bopd and the restructuring deal we can determine if we will make the loan repayment by then, I see no reason why this isn't achievable and just a way of striking a much more favorable deal with the new finance restructure.
The market hasn't digested the RNS properly IMO

Excellent thank you for the update

Albertan there is a requirement for the latest dilution to move forward, Cuda Purchase, increased bopd, debt refinance, RS report, road map of revised bopd forecast, drilling program update..................... For every action there is a reaction, this action firmly gets the breaks off and us moving in a straight line and strengthens our position.

Value of a company can drastically improve the financial positioning with the banks or lenders.
Why some are frustrated with the latest market reaction have you all actually picked the bones out of the RNS?

Getting approved finance is not always straight forward. We now have the ability to restructure the debt finance which for me is a win, win. Lower percentage on the interest, ability to hedge oil price higher if required, and flexibility to draw on further funds to advance the project.
So lots of positives to come and still firmly in the driving seat with the ability to pay back the loan (yes at some cost but who gives you free money?)
Art and the team of engineers will have been working hard to decrease the well pressure and improve the outputs, once we have Cuda signed off I would expect to see a revised time line for meeting output expectations and a road map detailing the up and coming activities.
Dilution can come in the way of issuing shares or owing finance, some view this as a negative but fail to see how we can operate and move forward with the sale and production, drilling etc without it.
I am sure the team has a very detailed plan going forward, ask yourself if art would dilute his recent DB by 50%, thats not good business sense. However, he sees the value and the potential SP.
Problem is the market doesn't they just see the dilution for Atomic, the dilution for Cuda and a lower bopd than previously advices by the company.
This will change, with it the hedge, increased profits to pay back the finance and move forward.
Still happy to hold and load up at these levels. Done me research here and why frustrating at the minute I have every bit of confidence this is only short turn pain for the long term gain.
Market just needs to see the facts and figures, which are coming GLA

Wouldn’t want to be out of this over the weekend getting to tight on news dropping

Civil very good post and highlighting to those edgy investors to ignore the drivel being spouted, believe in the facts and fundamentals and your gut feeling.
Nothing in the markets goes directly from A to Z there will be ups and downs but sitting on your hands is key.
So many see a retrace and panic sell only for news to land and they get locked out or pay a premium.
Anyway just got my first pint of the day cold Guinness have a good day and long weekend folks GLA

Not a bad article from The Monty Fool - 17 Jan 2022

We have the gas required and fixed in price. The updated RS report due to show FD reserves, Oil price is some what higher than January and as the article says news due shortly. Well, news will be seen within the next week. Cuda signed off which increases our bopd, update and details on the RBL. We really are entering a fresh new exciting news heavy period. GLA

Recent discoveries and increased production

With a market capitalisation of £60.5m, Canadian Overseas Petroleum stock is one of the smaller oil and gas companies currently on the market. Since 11 January 2022, the share price is up 43%. What is the reason for such stunning growth? In an announcement from 22 November 2021, the company stated that production from its Barron Flats Shannon Unit in Wyoming was 35% ahead of expectations. This resulted in a 14% increase in the share price at that time, but was not responsible for the recent gains.

Furthermore, in the Q3 update for the three months to 30 September 2021, the company announced the discovery of light oil at its Barron Flats Deep Unit, also located in Wyoming. The official results of the discovery are still private, but the company is currently working on a development strategy and hope to update the market in the near future.

In the same announcement, Canadian Overseas Petroleum stated its business was suffering from tighter supplies of natural gas liquids (NGLs). These are necessary for the development of oil exploration. Throughout 2021, NGLs were in short supply across North America. With this shortage in mind, it is possible that the company’s ability to explore will be impacted. Yet, the management is satisfied that the company has sufficient NGLs to make it through the winter into 2022.

On the other hand, the company has made consistent losses for the calendar years 2016 to 2020. While this is not unusual for a small oil exploration company, it is worth noting so that I can better understand the wider financial position.

Why the massive increase in share price?

On 10 January 2022, the company made a significant discovery of light oil, again in Wyoming. This discovery is estimated to be 1.5bn to 1.9bn barrels of oil. This discovery has excited the market and directly resulted in the 43% weekly increase in the share price. The CEO, Arthur Millholland, stated that the amount of oil found is “many multiples greater than our original expectation”. Indeed, some extraction and production of oil from this discovery has begun. In the lowest field zone, the company is already producing around 100 to 120 barrels of oil per day. The discoveries are exciting news and will be compounded by the high oil price.

Canadian Overseas Petroleum has made a number of encouraging discoveries of light oil in recent times. While this stock is still small, I think the rewards far outweigh the risks. I will be adding this stock to my portfolio as a speculative buy

As mentioned before a lot of what goes on behind the scenes isn't always straight forward. Each project has its own challenges every field acts differently.

Problem is a lot of PIs don't like the wait, the SP if you have done your research doesn't reflect true value. This looked an excellent investment with only Atomic, with FD now on the table and horizontal drilling to be concluded in the coming months we could be looking at an outstanding investment. Oil looks like it will be stabilized above $80 minimum for sometime.
AM previously quoted Atomic as being right place right time and very profitable, think back what was the WTI price at the time of purchase and what is it now. This is all additional profit.

I believe we have come along way over the last year and would even say the last year and a bit has been transformational for the company and shareholders.

News flow to drop coming weeks

-The acquisition of Atomic
-The purchase of Cuda
-A massive find one of the larges onshore of WTI
-Revised RS due
-Corrective actions taken to control well pressures and increase output.
-Drilling program update

Everyone asking when will all this news come in my opinion I would say after the purchase of Cuda is finalized.
Hopefully you have all managed to add a few more and average down at these levels. Looks like things are starting to fizz up again, sentiment and positivity returning and with it blue sky.

Expecting the market to start buying in this coming week as news can really drop any time and looks like it will all come at once.

GLA

Excellent post as always Tiburn

Thank you Cossie will go check online must have missed that one