Member Info for dougb189

Thanks Bish.,

Just done quick calcs on 1st oil hedge figure and it does indeed appear to come to circa 20% of oil output as per the expected CPR figures.

Hopefully AM will give an interview at some point in the near future and we can then verify those figures.

Appears to give Copl a lot of clout for then going forward!

The reference to $39 bbl was i believe in the CPR report.
That was the hedge price that Atomic Senior had received when the spot price was then $41 bbl.

There was a statement made on Reddit (from a trusted poster) that our lender has stipulated that for the 2022 contract, 20% of our output will then be hedged which then allows the remaining 80% to then be sold at market price..

As shaa says, an interview by AM would clear the air.
(CC had written before that any hedged sales would have to be notified to the market).

$12/bbl transportation costs.
Is nice having South Western in your pf.

Targeting the lender holding the senior credit should be on the cards...

Nice digging Sirens, with checking out the Namibia operators. Will keep an eye on Reconafrica.

Wee bit amused on their ‘misleading investors’.
Some on here think that the dilutions are AM’s biggest vice.

Trying to work out the various breadcrumb trails that he sows, currently inclusive of Namibia, is intriguing. And hopefully beneficial! Thanks for sharing.

June 2020’s two placings totalling £1.2M for ‘general purpose’ could perhaps also be considered as dilution costs towards acquiring Atomic, which was when the 3 month CPR investigation into the field was started. And the only notice the shareholders received was via the December 16th RNS.

AM’s breadcrumbs are perhaps not suited to all. He is quite an abrasive character. On relist, we may see quite a few ‘leave the shop’ but many others will be watching to see if AM can then upgrade from minnow back to where he was previous.

Lol, trying to remember, was it a Gulfstream jet that the company previously flew around in...

By ‘patience’ I take it you mean that I must wait for 12 months till the next AGM and at which point you will then allow AM to raise further funds for possible further projects via dilution ?

Do the maths; immediately prior to Atomic there was 4.8B shares, and now there are 15B, so an additional 66% of current shares are owned by those who bought into the placings and who presumably will be more than happy to allow AM to again repeat their success...

The figures for the last batch of dilutions were as briefly described :
Atomic acquisition of $9M placings, giving access to $40M + $20M debt.
Spring placing £14M giving $9M towards enhanced production.
The end result... let’s say an mc £200M ?
Not a bad return ?

IMO though the above is all very much small fish.
Put a nice fat zero on the end of all these figures
and you then get AM back into deep water. Literally.

After relist, say mid-July, and that mc of c.£200M and even with a growing war chest of funds would it be feasible to wait a full 12 months prior to allowing further fund raises IF it is so required?
IMO, that’s a no.

Mind blowing that some Pi’s can’t see further than next weekend’s beer garden.

The representative majority of shareholders, 66% of whom did not buy in until After the Atomic deal was done, will no doubt cast their votes at the AGM.

Funding from debt market requires that you have a deposit.

The $9M placings then allowed us access to $40M + $20M via debt.

The additional $20M placing in Spring then allowed us to massively ramp up that original project’s injection levels.

Money well worth raising. Unless your tag is LB.

IF it then turns out that the next project has similar placing requirements to again obtain serious debt, then game on in my book.

Nice to see.. more happier Pi’s.
No need for Fireman Sam this weekend to pee on the wee boys fires ?

With good feedback midweek from AM via Tico and combined with Rumbled’s excellent non-biased summary then there is everything to play for over the next 12 months. A few may still be having tantrums that no RNS’s are required from Canada but hey, i enjoy working out the breadcrumbs. Lol
Enjoy the weekend peeps. Mine will be an Irn Bru, full fat.

CC., are you suggesting that last September’s CPR on the field was done as a freebie..

Christmas dilution paid $9M directly to Atomic’s lender as a requirement of the deal & was subtracted from the $54M owed.

Spring dilution was partly used for gas injection upgrade.

You should perhaps leave the store if your confidence is permanently lacking.

Appreciated Tico.,

Brings a wee bit clarity to the delays.

That fish that he has just landed is currently being fattened.
One doesn’t get an instant response when injecting a field.

Going to market with the previous output of 800bopd, would of been detrimental as a sales pitch, when the market pays a lot more handsomely on a known/perceived projected growth which is what the 2 & 1/2 months will give.

The AGM will be the telling point. Make or break time.

Quite tickled by the Canucks interpretations of our misbehaving, stressed-out posters.

But ‘classical internet sociopaths’ still falls way way short of their own home-grown, full-blown sociopathic malignant narcissists.

*Kernberg described malignant narcissism as a syndrome characterized by a narcissistic personality disorder (NPD), antisocial features, paranoid traits, and egosyntonic aggression. Other symptoms may include an absence of conscience, a psychological need for power, and a sense of importance (grandiosity).

AM certainly gets my vote for a consolidation.
Last year’s early summer dilutions, then took 6 months to reveal their purpose, via the December 16th RNS. Now and currently sitting with a war chest full of cash, if AM then decides to go for bigger fish, then he has my vote to raise extra funds again.

Interesting point mad by canuc on Reddit with respect to marketing in America :

“..One other small tidbit I noted, which might be nothing, or might be a bread crumb to the future. I doubled checked to see, but essentially all of the major Canadian oil companies report their financials in CAD (even TC, who has pipelines in Mexico and the US). XOP chose to report their financials in USD, now this may be to simplify the reporting accounting because their production is in the US, or it may be be an indicator of where they would like to see the company listed in the future..”

The Americans (as seen from Reddit) generally do not like the penny stocks with mega billions of shares (similar to ourselves) and so AM with the reverse-split, is possibly setting the cards up for an American market...

Nice one Kay.,

Looks like AM is finally getting serious!

8.35

For those joining the dots at both today’s Poo & Current PE.
Difficult is trying to work out when to slice.
Lol.
(7000bopd eta was 18 months thru steady increase in injections)

Still reckon AM will be chasing his quoted ‘7000bopd for 7 years’. For starters.

Copl then with 4060bopd at the 2021 Q2 steady price of $65 (& was also the avg. Poo in 2019 pre-Covid) then giving $71M netback annually. Difficult to predict where the Poo may be in 18 months time, albeit the very high figures for the Forward PE suggests a good increase. Re-list soon and guessing the steady figure of $65 may be utilised..

Input the USA Current PE of 28 and it gives AM a serious market capital as a foundation base from which to again go back to deeper waters.

$20M accordion credit available & $9M from recent £14M placing, still available.
In addition to 6 months of production revenues, now sitting close to 2880+bopd
(As per hfb’s calcs on 20%/month increase)
giving Copl c.1600bopd, with Poo at $65bbl giving netback of $50bbl.
So an extra $2.4M per month on COPL’s balance sheet.
AM doesn’t appear to have an urgent need of Cuda’s outstanding $8M, other than as a tactical leverage in obtaining that extra 28% WI, but as high-lighted, Cuda’s position is much less precarious. Their creditor is a significant share holder.

Feeling is that AM is hording cash... maybe for bringing the 67% interest in the Cole Creek unit into play, or other Wyoming projects (the accordion facility perhaps being locally focused).

With the BTC I think it’s also dependent on where you set your sights, mum. Personally and I used to get hung up with the global population problems tied in with associated immigration numbers. This was a significant problem almost 5 decades ago when China then imposed the families 1 child only, policy. Thatcher then wanted to turn the west coast of Scotland into a free-trade zone to accommodate Hong Kong’s dissatisfied people, which then puts their nice looking 100 stories-tall buildings neatly dotted around the NC500, which IMO will still happen.

Today and I set my sights quite literally on the stars via Elon Musk’s endeavours. The end result of which will be that in X generations time, we will again be complaining about over-population, but then will be in the Andromeda galaxy, our nearest neighbourhood patch. Which then gets one thinking of a universal currency. And the Bitcoin will always be the defining step in achieving that.

Previously it was a currency for purchasing pizzas & trading old classic Xbox games but now is a recognised commodity for trading. Crypto is now main-stream in several major financial houses with several of them putting aside 1 or 2% of pension funds, etc, to accommodate this.

You hit the nail on the head though with ‘computing technology’ which 99.9% of crypto investors fail to take on board. Namely, that the strength of the current system is also its weakness, ie. that computer technology is often superseded, hence my ‘4 years’ window, as 2026 is also thought to be when quantum computing gains a significant threshold improvement. And whoever controls that, then controls everything, and so new ledgers then needing to be acquired. Lol, computing glitches though will then be solved, rather similar to the conversion of dirty energy mining facilities which are now slowly being converted to clean energy sources, of which the UK’s Argo Blockchain is already making big inroads into. The paradox being that Elon Musk has stopped purchases of Teslas until these mining facilities are cleaned up and that one of his core philosophies is the capture and storage of clean energies, for eventual use on Mars, and of course to then buy Tesla’s again.