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Excellent news Stas :)

Fastfood stop flapping your chicken wings… The answer to your question is in multiple RNS’s and presentations🥱

From the most recent RNS from Monday…

“The LOI is subject to confidentiality provisions in a Confidentiality Agreement entered into by COPLA and JVCo in October 2022.”

Yes it is.

Now breathe…and don’t forget to have your £500 ready to donate when the SP hits 5p☺️

One thing to remember is the wells are currently restricted and flaring is being done to control the pressures in the piping…once the new high-pressure gas gathering system is online with the new steel piping things will change…

The wells will be unrestricted and flaring will be stopped so instead of releasing pressure from the field it will be held allowing the pressure to rise resulting in a higher oil flow rate…

On that basis I’m expecting oil flow rates to be at 1750+ bopd by end of august which is nearly a 40% increase compared to what it is currently :)

The new gas gathering system is scheduled to be brought online next week :D

Nothing stopping COPL from getting two horizontals in the FD with the two approved permit’s alongside Cole Creek JV

The RNS ruled out the Shannon unit for a JV…which has 100m barrels of oil and 50m barrels of recoverable oil if anyone forgot lol

It didn’t rule out the Barron Flats Federal Deep Unit…

Cole Creek and FD are apart of the JV meal…Cole Creek is the starters :)

Exactly my thinking Tiburn…

COPL stated in the RNS: “The contemplated JV does not include the Company's Barron Flats Shannon miscible flood EOR project.”

That then means talks have been for a JV with COPL on the Cole Creek and Barron Flats Federal Deep Unit…

JV with COPL for Cole Creek initially as it’s 100% owned whilst they buyout or sort a deal out for CNOOCs 15% WI in the FD then bosh! Move onto the second stage of the JV for Federal deep…

We can see exactly what’s going on here ;D

Great post blackstout…

May I add your figures might be a little to the conservative side as the price per tonne is a little higher than what you’ve stated ;)

“The 2022 changes to 45Q provide up to USD 85 per tonne of CO2 permanently stored and USD 60 per tonne of CO2 used for enhanced oil recovery (EOR)”

https://www.iea.org/policies/4986-section-45q-credit-for-carbon-oxide-sequestration

AlbertaOil thanks for pointing that out…it’s very positive that COPL are having quick turnaround on their sundry and well permit submissions…

One thing not to forget is the Wyoming Governor is very fond of COPL so this could be the reason we have the support…he’s very excited about the large oil discovery :)

Well Arthur does have 2 approved horizontal permits for the Federal Deep and 1 Horizontal that can be re-completed in Cole Creek…

You never know he might surprise us in the autumn :)

New high-pressure gas gathering system will have COPLs oil production at 2500+ bopd by year end imo…that’s not a ramp lol

I know who would’ve thunk it lol

£468m / 1bn shares giving c.46.8p

;)

Reposting the broker note as the link I set up will expire soon…

The NAV given by Hannam&Partners is based off 954m shares in issue and only takes into account 5% recovery of COPLs 1 billion barrel plus oil discovery…

Risked NAV: US $154.1m(£118.3m)

Unrisked NAV: US $610m(£468.2m)

https://wetransfer.com/downloads/3276c949a2aa7010906fbe14fd08d65920230719071811/fa91ea

$80 hedge cancelled? ;)

Tiburn I’ll leave the overall question you asked for Edgein but COPL do already have a horizontal in Cole Creek(44-22H) that can be re-completed to target the Frontier 1 formation and is not too far from the 11-27 or 12-23 wells…

I assume this will be Arts first target when all is signed off and the drilling program is given the green light :)

Yes… Cash payment from our JV partner on signing the deal :)

“Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit.”

"We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an all-time high," Daan Struyven, head of oil research at Goldman Sachs, told CNBC's "Squawk Box Asia" program on Monday.

While demand is set for a record high this summer, supply is shrinking. The production and export cuts from OPEC+ and the slowdown in U.S. oil production growth will also play a part in large deficits in the third quarter this year.

According to Goldman's Struyven, "We expect U.S. crude supply growth to slow down pretty significantly to a sequential pace of just 200 barrels per day from here."

https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Sees-Oil-Prices-Rising-On-Record-Demand.amp.html

COPL are well positioned to capitalise on this with production expected to rise substantially throughout Q3 and Q4 :D

It’s funny seeing the trolls in action haha…come on you can do better deramping than that ;)

Confirmation of GGS commissioning getting closer by the day :)

“most wouldn't trust him to deliver a bottle of milk”

Lol but he’ll deliver the completion and commission of the gas gathering system and will deliver the JV…much better than a bottle of milk :)

That’s unless the person who wants the milk is a baby…lol

Art has set this one up very good…

Today the Joint Venture Party signs LOI for a JV on our billion barrel oil discovery…

“COPL and an established energy company ("JVCo") have entered into an LOI for the negotiation of definitive agreement(s) for a Joint Venture (the "JV") to develop and exploit its oil reserves and resources at its Cole Creek project in Converse and Natrona Counties Wyoming.”

and shortly we’ll have news that the GGS system has been commissioned…lovely :)

The market would like everyone to think that after ‘letter of intent’ signing with the JVP we’ll be waiting a long time to sign a deal but we’ve been in these talks for a VERY LONG time and most of the leg work has already been done… It could come sooner than some think :)

End of May presentation…

Cole Creek Frontier Joint Venture

•A large Oil Company approached COPL in September 2022 inquiring if we were interested in a partner to appraise and develop our Cole Creek Frontier oil resource.

•This group has done substantial technical due diligence to date.

•COPL has also done extensive additional technical work on the project.

•Discussions/Negotiations are in progress on the terms and structure of a Joint Venture.

•The objective of the concept is to end at an early stage EOR project similar in nature to the BFSU Shannon miscible flood.

•COPL’s understanding of the BFSU early stage EOR project through its ongoing reservoir simulations provides substantial local knowledge to the JV.

•Miscible solvent’s evaluated are CO2 and LPG enriched gas used at the BFSU.

•The Company more than stands by its initial assessment of the resource.

Tick tock… ;)