Member Info for dougb189

As per Andy, and Copl are focusing only on finalising the prospectus,
But for which they believe it may need to go past the 16th August.

The Q2 interims actually bring very little additional data to the prospectus,
the flooding although started had not yet taken any effect by end of June.

AM could be benefitting from using Cuda as a buffer against any early drill failures. They are effectively still farmed in and so bearing some of the campaign costs which could be a good insurance policy. The c.$10M that they owe would then pay for 4 rigs. Highly acclaimed success rate in the North Sea which I believe worked out at 5 good wells per 7 drills. A big drilling campaign as per his stated intentions would need some sort of insurance. Cuda’s IOU for $10M seems to meet that..

There does appear shaa, to be some extra expenditure which might match the purchase of an additional two rigs and which might explain where AM is going with his MDA statement of
‘..two oil producing units that were acquired further to Atomic Group acquisition..’

In layman’s terms then it reads that we have acquired an additional 2 rigs,
which suggests a very early & aggressive start to the ‘20+ rigs campaign’.
So, in itself, a fairly exciting new lead.

Lol, but ignore all the references to $xM worth of hardware,
which is the full extent of the paragraph as taken from the MDA as most of it is just confetti.
Oil & gas plants simply don’t operate unless there are already oil rigs in situ.

No, the interesting bit is the additional rigs, the ‘further acquisitions’ that most peeps are failing to recognise, but which was noted by Guitar.

One could then go into detail on the figures in the accounts under additional assets which then seems to match the going rate for two 2nd hand rigs, but one gets the feeling that this will be beyond 80% of the Pi’s currently onboard this evening.

Or at the worst, & as said earlier, it could just be another Copl word salad. Lol.
It’s looking good bud.

The only salient piece of information for the Pi, as noted by Guitar,
is the single word… ‘further’

Would perhaps also be pertinent to the MM’s who notoriously slash & burn or alternatively promote a stock, simply on any change in the nuance, but for whom I suspect the Copl word salads are currently still relegated to the bottom drawer.. lol, but not for much longer peeps.

https://www.sedar.com/CheckCode.do

‘..As at March 31, 2021, the Company’s net property plant and equipment amounted to $57.5 million and comprised of $57.4 million of petroleum assets and $0.1 million of administrative assets. Petroleum assets relate to two oil producing units that were acquired further to Atomic Group Acquisition: the Barron Flats Shannon Miscible Flood Unit (“BFU”) and the Cole Creek Unit in the State of Wyoming and a gas pipeline that services the BFU for the purpose of miscible flood injections…’

AM has a lot of explaining to do. Once he is released to do so. Lol

Go easy peeps, is quite natural for there to be doubts when selling off too early. Prioritising paying off the mortgage is paramount.

That then though creates its own dilemmas..
Similar to taking advantage of a bed & ISA, your bricks&mortar investment then follows to a bed & interest only mortgage, when the bankers clock the size of your wad.

Spending 10% of gains on indulgences may be the way forward, but then taking a 100k motor (F Type R) dancing on ice followed by ploughing a few trees is perhaps not too wise either.

Learn to enjoy what you have and if it means exiting at 2p then do it. Respectfully.

My guesstimate & I’ll wager that by the end of this month the shamans will be onboard, pointing out that it is all clearly predicted in the charts. As if, AM being predictable?!
Enjoy the ride peeps. GLA.

One of these occasions when you don’t mind how late it is.

Unlike the wee pocket rocket that was ordered months ago for an August 1st delivery and the latest update for a delivery now being November 1st. Deja vu ?! Lol, just glad to be in though.

‘… The Company recognized $150,000 as pre-license costs for the three months ended March 31, 2021 that related to an anticipated new acquisition project...’

Lol, but Sound of silence will hopefully become a v.loud hallelujah.

Of the owed fees, there is reference in the MDA to
‘.. 100% of the Company’s revenue receivable as at March 31, 2021, were owing from one company. Of the Company’s joint interest billings receivable as at March 31, 2021, approximately 96% was owing from two partners in producing units..’
which may (or may not) be referring to the $2.3M ‘unrealised crude gains’ which is outwith the $0.5M revenue from Q1’s accredited 16 days production.

Get the feeling it’s going to be raining RNS’s soon ?!

Good point made by Noob that it will be nigh on impossible to force Cuda out, but was heartening to hear that AM was in talks with their senior credit lender. Hearing figures approaching £60M to £70M being thrown around for Cuda.
IF we float at £170M peeps might consider what it might take to then acquire.
ie. the C word…

It could be argued that the leopard IS changing its spots.

His historic behaviours had then seen him offered a £1B loan from a conglomerate of banks led by the RBS.
With the banks then crashing and calling in all their loans that then saw a company once valued at very close to $4B being sold off for a meagre $500M. The leopard got brutally trashed by previous generous offers of loans.

The leopard then changed its spots and got investors to pay for his acquisitions.

Apart from a few disgruntled Pi’s, the vast majority of these new investors who are holding the additional 12B shares, c.72% of the share base, are in no doubt.. absolutely ecstatic that their sub 0.38p investments will shortly triple bag.

IF after relisting, AM then decrees he is going for similar or something bigger then there is a whole army of savvy investors who will be more than happy to be part of the next step up. And he would not be exposed to crippling loans.

Balmoral PV Mk.2
Bring it on.

Hi Tiburn, i was putting it at close to eventually being $10 per barrel costings for Copl courtesy of Cuda & CNOOC (who were previously being charged $12/bbl operating costs when AOG was at 2mmcfg/d injection rate) and who will then have to contribute accordingly with uprated 10mmcfg/d.
Can see a big hike in production cost for us from previously $17.5/bbl up to the recent $28. This i suspect will be us paying for the full 100% WI operating costs until we eventually (quarterly’ish) get reimbursed by the NOP’s contributions.
Apologies, out in the field and figures are approximate.
The bigger picture as you previously stated is the bold aggressive approach to further miscible flooding in lieu of our local competitors current ambitious plans.

Suspected that this was tied in with Cole Creek which has now been brought forward..

50% increase in first 4 months of uprated injections exceeds the presentation graph predictions which is what i believe the ii’s will be looking at ie has AM reacquired his previous midas touch. Looking very good for 7000bopd.

& with Copl’s share of netbacks effectively reduced to c.$10 courtesy of Cuda & CNOOC paying the 12% production costs in addition to the 5% production taxes, then brings the initial high costs c.$28 ber barrel significantly down.
GLA.

Nice thinking Tiburn, i had missed the relevance of our competitors with tespect to locally acquired injection gas.

Not so sure though on the Cuda angle as i suspect (a) their association comes in useful when netbacks for pipe infrastructure offsets our taxes/royalties & (b) always believed that AM has bigger fish to fry…

Not tooo shabby..

Q1 Revenue $2,751,000

Assuming an average Poo $50, then works out at 611bopd

Inclusive January’s deep freeze knocking systems off-line.

As handed over by Atomic Senior. Not too shabby at all.

Q2 will have everyone waiting to see if AM can still flex.

GLA.

CC., hence why I described it as ‘BF figures’.
So closer to 170% higher than COPL’s figures,
AM currently holding only 58%WI of BF.
(A mix of Queen’s english, highlander cynicism & some Pi grammar).

Still good enough to see Q2 figures averaging out near 1000bopd then sending this up easily towards 2p imo.

I then see a variation of Tico’s ‘one small step for man, one giant leap for COPL’ namely that yes there will be small steps, ie. relist on 57%WI, then notification of Q2 figures, then notification as the uprated gas injection really starts to kick in and that these will be further supplemented by ‘pleased to report that ongoing discussions with Cuda / CNOOC / Essar’. Sufficient enough to entertain all.

A blend of Queen’s english, highlander cynicism and colourful Pi grammar.

Can still draw some approximate calculations ie Q1 ended with 1350 bopd from BF, which then told us that Atomic Senior had kept fairly good gas pressure in the field whilst operating at c.2mmcfgd.

Q2 uprated gas injections may have taken the best part of two months before their effect was felt. Starting date then being either March 18th or April 1st. An approximate output could then be obtained from Copl presentation grapth of injections v oil & gas outputs.

Would expect after minimum of 3 months of uprated injections we may then see BF >2000bopd which will hopefully then have everyone buying in on anticipation of hitting the targeted 7000bopd plateau..