Member Info for doughty9

Re "But high-risk, high-reward is what AIM is all about."

Good article but COPLs not AIM.

Not good for credibility if they get that wrong.

Re - "If you Google COPL-31Jan2023-Public-Prospectus(0).pdf (Says pipework due to complete August btw)"

That lines up with 23/5/23 GGS RNS of 2 to 3 months completion.

Seahawk

Not sure about DGO on buyout at 7K bopd. Just looked at my records from October 2005 they show 14K bopd.

"One thing that hasn’t been noted much is that the new discovery is more than one mile deep, and therefore falls under Federal Government ownership. This reduces royalty payments due from the standard 22% to private landowners to just 12.5%."

So whats holding it back?

"A dream field is in play, smack bang in the middle of the continental United States just as rare political bipartisanship turns to drilling.

However, there needs to be a joint venture. COPL does not have the financial firepower to develop this new Wyoming asset properly. Chevron, BP, ExxonMobil, Occidental Petroleum, EOG Resources, Hess, Devon Energy, Ultra Petroleum, Cimarex Energy, and QEP all operate in the state — arguably any would be happy to sign a deal."

Given the scale of our assets, at least $50m should be achievable (See below Longboat's JV on monday)

The joint venture will be renamed Longboat JAPEX Norge AS ("Longboat JAPEX" or the "Joint Venture"), with a goal of building a leading Norwegian-focussed independent.
Transaction highlights
Cash investment of up to US$50 million for 49.9% of Longboat JAPEX comprised of:
cash investment on completion of US$16 million;
a contingent consideration of US$4 million, payable on successful completion of a production acquisition currently under review; and
a further tranche of up to US$30 million, payable on a sliding scale following a successful discovery on the Velocette exploration well due to spud in Q3 2023.

JAPEX to provide the Joint Venture with a US$100 million Acquisition Financing Facility:
five-year facility to finance acquisitions and associated development costs in pursuit of the Joint Venture's strategy; and

JAPEX, founded in 1955, is a public company listed on the Tokyo Stock Exchange (m/cap ~US$1.8 billion) with proved reserves of 159 mmboe (2022/3) and production of 58,500 boepd (FY22). JAPEX's largest shareholder is the Japanese government (35%) via the Minister of Economy, Trade and Industry of Japan.

"JAPEX is very pleased that we have formed the partnership with Longboat for a Norwegian E&P business. We see a very strong alignment in the business expansion strategy in Norway and beli

This is what rns says about Longboat's change of name. Could we be seeing something very similar.

"The joint venture will be renamed Longboat JAPEX Norge AS ("Longboat JAPEX" or the "Joint Venture"), with a goal of building a leading Norwegian-focussed independent".

Robert-brant is a proud member of the Mohawks of the Bay of Quinte.?
You never know it might come in useful.

Looks promising on the last line - "unparalleled legal expertise to get deals done successfully".

2017 news but shows a good track record.

McCarthy Tétrault advises on 5 of the 10 largest Oil & Gas deals of 2017
AUGUST 16, 2017
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Despite the unpredictability in the Canadian Oil & Gas industry, McCarthy Tétrault continues to demonstrate its strength having acted on five of the ten largest Oil & Gas deals of 2017 according to Mergermarket research.

Enbridge Inc.’s C$37 billion acquisition of Spectra Energy Corp. to create the largest energy infrastructure company in North America
Shell Canada’s C$11.1 billion disposition of its oil sands assets to a subsidiary of Canadian Natural Resources Limited (CNRL) and joint acquisition of Marathon Oil Canada Corporation with CNRL
Shell Canada’s US$2.5 billion joint acquisition of Marathon Oil Canada Corporation with CNRL
Parkland Fuel Corp.’s C$1.46 billion acquisition of Chevron Canada's Downstream Fuel Business
GMP FirstEnergy, as Valuator, of the common shares of Ithaca Energy Inc. in relation to a C$841 million cash takeover of Ithaca by Delek Group Ltd.

Given our market leading position, we have played a principal role acting for every type of transaction participant, from emerging producers and operators to industry conglomerates. Whether an acquirer, a target, or a private equity investor, we will work closely with you, providing strategic guidance and unparalleled legal expertise to get deals done successfully.

Not sure what this means:-
"Anavio will file an early warning report with the securities regulators with respect to the foregoing matters pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, a copy of which will be available under COPL's profile on SEDAR at www.sedar.com. "

Good to see it again in Small-caps.

SMALL-CAP WINNERS & LOSERS: Canadian Overseas Petroleum gets funding
Mon, 20th Mar 2023 09:57Alliance News
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Canadian Overseas Petroleum Ltd, up 1.9% at 5.99 pence, 12-month range 4.50p - 35.00p. The Wyoming, US-focused oil and gas explorer signs purchase agreements with current stakeholders and a new institutional investor for an increase in its 2024 bonds and 2025 bonds, with a total amount of USD13.6 million committed. The convertible financing is meant to sufficiently fund the company for production growth, while allowing management to "optimally conclude" their reserves-based lending and joint-venture negotiations, COPL says. A further undrawn element has been made available by the company's main bondholder to ensure COPL will be appropriately funded into 2024.

What's with all the 33 trades?

Stas

I am fully aware that AM didn't say that . Tiburn posted it as possibly being Art's thoughts. I was merely trying to understand the logic and timelines if it was a real scenario.

Tiburn.

Just trying to get my head around this. At what point in time is it thought this might have happened?

We are led to believe that JV discussions started in October (possibly late September 2022), so 5 months ago. RS summary report rns was on 5 August 2022. AM had time to publish full report, unless of course the large oil company were somehow in touch before official JV discussions.

"I was going to issue the RS report publicly as I said I would, but was contacted by Exxon who after they read it said to me hold it back as it is commercially sensitive , outlines many aspects of further play research they wished to explore, I agreed as we are in JV discussions and I want to keep them onside".

Thanks for the good work Singhie and thanks for checking Alwayssmiling.

Matthew
Do you mean "New Year"? Surely you are not "expecting 50 p to £1 quick sharp and well before Christmas"

A brisk start with 2.4 million shares traded in first hour.

There's a a high chance of a one trade being correct today.

Looks like $0.0135 = 1.01p.
Fair bit of ground to make up from 0.77p.