Member Info for dougb189

No one apart from a day trader is chasing a super fast recovery time, which then endangers
puncturing through to adjacent stratas & losing any built up pressures.
Yes there is the additional hardship that HGV drivers and ground support staff are in Very short supply, but that is now a global phenomenon. AM deserves a wee bit credit in achieving what he has, during these difficult times.
Then there is also the known unknown…… squeezing Cuda.
Fingers crossed that there is some news later tonight.

The main recovery is as per Tiburn’s earlier, where over the next few months, the 9 additional wells will bring the BFU production up to 8000 as per the most recent field evaluation report (CPR).

Recovery time will be purely dependent on wether AM can again hit the sweet spot. His 25% increase in bopd over a 2 week period prior to throttling back on the pressure, will hopefully be happening as we speak.

The only ‘odd’ thing here LB is your embarrassing meltdowns.

The statement clearly highlights the cutback in bopd is due to safety enhancements & that once they are implemented, then normal service will be resumed.

Tis only fair to point out Tiburn that your earlier quoted 8000bopd for mid next year as per BFU’s most recent re-simulation report is a wee bit out of date.. AM is now knocking 10% off that expected figure, courtesy of now only employing 9 further wells, as apposed to the original planned 18. Courtesy of some excellent performance figures.

Similar to your loud thinking hfb,
cutting back 50% on Shannon (which is over-producing the CPR fig’s) to then divert resources to an even better producer..
Dakota’ production strata stretching 1.5 miles south to 3.5 miles to the east
& a wee bit Pythagoras then gives… we need more horizontals.

Thinking that your ‘5 cents’ is an incorrect reading, I’d interpreted it as 0.05 cents, giving a small figure and very much a small profit But at least very much a positive. Will try verify later.
AM been running ultra deep on the noise charts so reckoning there will be little if any returns from any pings. A man on a mission, i guess.

‘always correct’ bud ?! Lol but that Was quite a cringe reading that earlier quote of ‘September 30th figure being 1077bopd’ when being a wee bit more correct, would then have seen explanation given that this was Q3’s average bopd figure, albeit ‘printed’ on last day of September.
(Should be able to work out with fairly reasonable accuracy from the data charts, what the actual September 30th flow figure is).

Tiburn, my apologies as i’ve been rather maxed out with the day job. I had previously queried with AM on the various hedges & of net or gross & he quoted hedge figure is a net figure for us, as Cuda have their own hedge. That these are then tied into the individual loan packages.
First impressions were that the next hedge is coming around quite fast and so wondered… are we ready for it? The nice thing though for me, was then seeing the capex (tied into field upgrades) which had risen from $10M in Q2 up to $23M in Q3, which i took as a strong positive, similar to your earlier post & of an ‘additional well being planned for the Fed Deep’. So confident we may yet see a Copl flow figure of 4000bopd quicker than expected.

I spent the rest of a busy day thinking the MDA had been written primarily for the ii’s, as again there was some good results, with the residual liabilities & with earnings per share now reading positively.

Confident we have a good edge.

Is nice reading bud that KK is taking on more of the role of international statesman for Nigeria. It then puts him on a par with Essar & their recent handshakes with Modi for installing a $700M (10x their OPL226 investment) new ‘domestic’ gas pipeline in India. Will be additional common goals at national levels, which will hopefully benefit our alliance’s.

For all its wealth, China currently suffering from a severe energy crisis: 23 provinces on reduced working hours & more recent talk of power being switched off for 2 day periods, cycling 2 days on then 2 days off. 40+% of their energy obtained from coal which has seen big price increases.
Could see their Nan Hai, South China Sea extending. Again. (TL not tooo far south?!).

They did the same for ciggies,
& yet BAT is still in the Ftse top 100
So pension companies can still invest in it if they wish
& its flow of dividends continues to be stupendous,
So then comes down to public entities shareholders missing out.
Hedge funds are currently smiling.

Probability must surely be that AM is involved.
Copl’s taken way too much of a hit with the continued radio silence for us to just sit as a bystander.

If so, then incurs Noob’s debt concerns,
But if acquires at good discount, can recoup losses via tax.

If as per Tiburn we also hit the sweet spot on Fed Deep, then needs a remodelled capex plan for further deep drills.
Lender’s current restrictions inc. asking their permission for any capex. Their 5% warrants on Copl America, on completion of the loan also then become significant as per tedoby’s Illiad.
Probability then… Refinancing next ?

Did try ask AM for a clearer explanation of Cuda’s “unitised WI” that they have for Fed Deep & associated various depths but alas, the radio silence is deafening.

Thanks illusion & my apologies; terrible whilst operating without my a.m. costa.
Would agree that the possibilities look very very good,
We just need to get that message across in manageable sound bytes.
Lol, & from War & Peace to a Sonnet, nice one.

‘a very distressed seller’ but yet allegedly worth $542.25M IF the conservative calculations at 08:40 are to be taken onboard..

Currently there are a handful or so of Pi’s investing and yet the potential is there could be 12,500 (as per number of Pi’s involved in 88’s recent resurrection) and I’m guessing that they perhaps don’t have the time to read War & Peace estimations on what Cuda is worth or what the potential of Copl might be, with or without Cuda onboard, in between scanning The Times & The Sun.

Over-loading the Pi then quickly sees the information getting corrupted :
Pi “..the Alberta sale ain’t happening”
whilst 1/2 way thru War & Peace :
“..offer to purchase the Alberta asset was declined”

KISS to any aspiring Tolstoy’s & failing that, at least try slip in the heavy reads (with clear cut references to pie-in-the-sky estimates) out-with any rush hour traffic, eg. today might be a good day for dissecting tedoby’s Iliad…

The $70M debt would not be on the table but rather it’s the assets that all the parties are vying for.

Chapter 7 bankruptcy proceedings would see the lenders seeking to acquire the assets in liu of the $70M debts.

Concern as per Noob highlighting, is of a long drawn out, protracted proceedings but this would not be critical to COPL’s ffd.

If our new well is a strike (& I think the calc’s suggested it needs only to get anything above 300bopd) then I would expect to see some similarities to earlier AM drilling schedules as per the North Sea, ie. very very aggressive. Within a year or two was quickly regarded as that region’s most prolific & some say most successful driller, which then saw AM being awarded the lion’s share of licences. Wyoming’s Converse County O&G project is currently allowing 5000 new wells within the next 10 years. I suspect AM may just want to participate in that. A successful Fed Deep could be the fast-track stepping stone that is needed.

If the price is right then acquiring Cuda’s Wyoming WI could be a steal.

If BFU flows do drop (Q2 & thru till Sept.1st saw flow rates above CPR est.) down towards the CPR BFU estimate of 5000bopd gross, this would bring in an extra 1350bopd on top of Copl’s 2700 bopd, so clearing c.4000bopd on the CPR BFU field estimate. That’s a whopping $115M annual revenue with WTI at $80.

Then raises the question IF obtaining Cuda’s WI is too problematic why not go for the full Monty..
& reap the debt…
As tax relief.
Inclusive $40M lost on the purchase of BF 27%.

Lol,
Oh oh, oh oh,
& you can kiss my
Oh oh, oh oh.

Lol, but hopefully on the 16th, we can get that valve ‘safety concern’ sorted and then get the taps fully open again.

I could still see Cuda bod being unwilling to lose out on the field potential.
Might perhaps see a retort.