Member Info for dougb189

Bkackstoat … was he not the author of a £6 sp and 320M shares ? And 50+ peeps ticked it up ?!

Pilot., lol, stop throwing stones into the pond.
You know perfectly well how it just agitates the pond life.

“..If he can pay for legal services with shares, he could offer same to a drilling contractor for further CC drilling once the SP has gained some momentum - some precedent for this..”

A very nice equation.
In that it dramatically reduces the chances of bankruptcy.

All we need now is to see wether there’s any substance in the RS report.

Genghi., COPL is trading under SETSqx, ie the trades are all controlled by the 9 MM’s as there is no Direct Market Access as per SETS.

Effectively means that you can not trust L2.

This is as seen by JBER’s positioning, who often give the appearance that they have no stock to sell and enticing buyers in but whom then go to the lowest Ask to offload more.

The most enlightening trade today was the 07:54
When someone then phoned their broker to get them to phone a MM to enable that transaction.
Then suggests that there is a quality player interested.
& the £5k amount falls within that remit.

I’d disagree Mr.T., that it was all negative.
Very very Very cynical, but aren’t we all.
There was though some actual positives in amongst the heavy cynicism.
The Messiah being criticised & the faithful allowed their emotions to then get clouded.
EF objectively argued a 100% increase in 3 months.
Most professional traders would bite your hand off for that.
‘Objectively’ is perhaps then subject to Pi’s expectations.

Hadron collected 10.6% for £2.05M at 0.2p
That 10.6% was indeed quickly diluted.
Hence they sold on relist at 0.6p

Alas though,
it appears that the bb’s numerous pond-life that were unable to formulate any counter-arguments, unlike yourself, have opted for removing any cynicism.

RIP EF.

Some good points made by all at the table but likewise some very poor points also.

Mr.T., “.This is no Hadron low tier II who played the game and lost.”
And this was the ii who picked up £2M at 0.2p & sold out on relist at 0.6p

Mr.EF “..The Law firm have got rid of circa 20% of their new holding already.”
Which then presumes that the additional arm’s length creditors only picked up c.1 share each.

So both clearly talking nonsense on a couple of aspects, whilst both contributing some good valid points on different aspects. Overall & it’s good that there is counter-arguments & balance.

As mentioned before..Is why I always put TW at one end of the table.

With 5.6% holdings then might have expected the owner to hedge against a possible loss, but there’s nowt >0.5% showing. It perhaps suggests the holder is comfortable.

Again as pre previous, I think BH may be tempted to also convert & hold.

There’s a nice wee clause that for holdings >5% that the holder can then claim entrepreneurial tax relief. Would then see any CGT dropped from 20% down to 10%, which is Only applicable if there is a Take Over…

I’m guessing that the BH will be aware of this and that to then see our team of legal beagles suddenly declare their holding, might possibly spook them & then have BH ‘hedging’ ie collecting stock.

Should be an interesting week.

I’d disagree Mr.S. with your $2.2M. I have the legal bills pegged at $1.720M.
The $2.2M was owed to ‘arm’s length creditors’ ie more than one.

Totally agree with your inferred that there is ‘support for COPL being shown by its working partners’ ie shares in lieu of cash.

There then appears to be an ongoing auld boys network of working partners.
Which gives a wee bit credence to those rumours of a possible certain large major taking an interest.

Still reckon that the legal partners are simply looking after their shares.
Now gives AM a clear majority at AGM where he can push on without any interferences…. Which might not be quite how Anavio would like to see it… so maybe Another TR1 with the main BH flexing a wee bit of muscle perhaps ? Could be interesting next week.

Does appear that Smish.’s SAS has possibly spooked some of the bigger holders.

The FCA requirement on TR1 disclosure is lax. There is no set period written in stone.
Also could be that an administrative legal firm are possibly unaware of the rather lax FCA requirements. Then suggests they took a serious interest only just recently in now looking after their assets.

Since 7th March there has been an additional 29,134,406 issued:
RNS 27/03 $2.2M of services owed to an army’s length creditor.
26,842,036 were issued. With £/$ c.1.2 then works out 6.8p
RNS 31/03 $0.2M owed to an arm’s length creditor.
2,292,370 were issued c.7.2p

Suspect that the 5.65% holding of 20,995,964 shares, were then issued as per the 27/03 RNS.

Was mentioned before, IF you are holding TR1 quantities, why would you bother notifying, when in high probability there will be some small bond holders vacating once the production figures start to show good steady increases.
So, are some of the big holders getting spooked by SAS ?

Again was mentioned on here recently that IF a competent group of Pi’s then organised an agenda, they could possibly spook the main BH into obtaining a TR1 and at which point any shareholder group would then need to collect minimum c.8.5%. Now appears that shareholders need closer to 9.5% or almost 34M shares collectively..

That sir puts your $18/bbl for Q1 as reasonably darn close.

A better business though might then buy back the bonds?

Oops, thanks Mr.S, my grey cells almost as diluted as my pf. Lol.

Lol.

Hopefully some production results keeps us from getting mauled by the large white variety of … bears.

Id still be very appreciative if Mr.S can again attend.
Was some good feedback from both him & Eddy last year.

The wishy-washy (technical for p!ss poor planning) attempt at putting together a shareholder grouping who’s rallying cry so far has been “..What Do Want… We Want…Ermm..” may have negative connotations if it continues to be wishy-washy in terms of goals & shareholders support. But if this heads south it might indeed be required.

Currently there are a few ‘pivot points’ approaching on production results (primarily flaring benefits & post Winter improvements) prior to AGM, so we could perhaps still see a significant change in sentiment. It won’t need any sky-high flow rates but rather a steady increase will see good vibes.

2022
$28M earnings after Royalties.
$14M costs in fees for financial transactions,. Tq… Ryan.
$8M costs for G&A. Tq…Ryan.

Now, peeps quoting there’s $14.8M available to assist stage 1 of the GGS.
& a quick rain check then reveals is only $11.85M of that comes to COPL.

So, a further $2.95M now being added to the fees for financial transactions.
Tq… Ryan.

It’s a complete cluster f**k.
That guy should have been taken outside..

A couple of minor discrepancies Edmund, primarily your figure for 2023 Q1 @1060 bopd I suspect is out by 20% as it would suggest that March output must have dropped lower than January’s storm battered production levels of an average 1070 bopd, with Feb at avg. of 1275 bopd. To then achieve a Q1 c.1060 bopd would require an average March bopd of 855.
At flare meeting, 3rd party commentator informed the Governor that figures were c.1700 bopd for mid March, so kinda hoping the monthly average is then close to 1500.

A figure perhaps closer to 1250 bopd for all of Q1, then suggests it’s only a mere short hop, skip & lil jump, to then obtain that 3000 bopd that your 12p calcs appear to be centred on.

That extra increase will then see the operations expenses figure (-38.78/bbl for a possible total of $3.7M) then get diluted by 21%, so a wee bit extra on the netback.
In fairness though, I suspect those D6’s did not come cheap.

AM could easily stamp out the growing concerns from Pi’s by verifying the 3rd party commentary given to the Governor. Should he again choose not to do so, until the last day of the month, then perhaps peeps are correct in firing a warning shot across the boardroom.

“.. some have a new reality perception issue and today was the anger stage of recovery…” which then had me laughing over a cup of tea. Being guilty as charged.

It all hinges on those 3 big tickets; the JV &/or RBL & flow rates
Even though it’s starting to look a wee bit exciting the sentiment though is still as per January posts & so still use some caution ie. do not be throwing the kitchen sink at it but keep some dry powder. Hopefully no more significant hiccups will arise.

*Smish., soz bud, is long day.

Smith., I think Edmund nailed it with “…So expect complications, then hope those complications are not significant is perhaps the safe view free of anger..”
But that I like being “Outrageous” so is I see a slightly different ceiling for the BH than the earlier quoted 30p.

In 6 months, end of Q3, knowledge gained on Fed Deeps & BF stage 1 running at 10,000psi, i’m guessing we could hit 4000bopd & at WTI c.$80, with monthly earnings c.$10M, maybe PE 3, giving an mc c.$360M with c.600M OS then I’ll go…. 60p
Means having a lot of faith in main BH, but pleased so far how it’s panning out on the conversions front.

Peeps getting in a tizz over an educated guess of Q3 @12p.
Perhaps they might be better off looking for possible discrepancies, even checking the figures ?

Ed: “..maybe Q1 netbacks of $12 - $18 / bbl…”

Q4 netback figures:
+79.84 per bbl sales
-24.89 Loss on oil derivatives
-17.56 Royalties
-7.89 Production taxes
-31.01 Operating expenses
+4.66 Butane gains

+3.15 Netback.

& can see we no longer have -24.89 / bbl loss due to hedges.
& the operating expenses at 31.01 per bbl
x 1177bopd x 30 days, works out at close to $1M / month.
Assuming similar ops expenses, that $1M/m is now shared across c.1500 bopd, which then drops the cost/bbl by 33% so perhaps now is nearer $20 each bbl, so $10 saving maybe.

That’s then $24 and $10 savings on each bbl.
Therefore possible we could be looking at $24 + $10 + $3.15
So, Maybe… Q1 netback c.$37.15
& assuming March avg of 1500 bopd, then gives
(1070 x 31 x 37.15) + (1275 x 28 x 37.15) + (1500 x 31 x 37.15)
$1,233,417 + $1,326,255 + $1,727,475
Or c. $4,287,147 cash available into further developments..

Is i like Edmund’s analysis, is imv a lot sharper than most even though I don’t have to agree with it.
Troppo lavorro & ho mal de testa!
& my day still aint finished yet.

Thanks Edmund, lots of good info there that i’ll try digest this evening. Nice timelines. Nice wee bit of enthusiasm but nicely tempered with some reality checks.

Lol, but that’s me getting excited again. Looking like it could be a very interesting next couple of months.
Appreciated.

Soz for all the ????’s
is pasted from iphone Notes app
Which always throws a bit of a wobbly.