Member Info for Eazy

Trolls out in force today haha…

Yes, we’re still in JV talks with a major :)

RNS on 24th July…

“London, United Kingdom; Calgary, Canada: July 24, 2023 - Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming, USA, is pleased to announce its COPL America Inc. ("COPLA") affiliate has signed a Non-Binding Letter of Intent ("LOI") for a Joint Venture with an established energy company to develop and exploit its oil reserves and resources at its Cole Creek project in Converse and Natrona Counties Wyoming.

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. The LOI grants exclusivity to JVCo for a period of time to allow for the negotiation of terms, and structure of the JV to be agreed, which include the consents required by COPLA. The LOI is subject to confidentiality provisions in a Confidentiality Agreement entered into by COPLA and JVCo in October 2022. These confidentiality provisions will terminate concurrently with the exclusivity termination, and other contractual conditions. The contemplated JV does not include the Company's Barron Flats Shannon miscible flood EOR project.”

RNS on 15th November…

"The negotiations regarding a possible joint venture announced by the Company in July 2023 are ongoing and the parties are working to agree all outstanding matters."

Also recent comments from COPLs broker…

“COPL remains in talks for a potential JV with a major oil company in Wyoming for developing its deep oil discovery and this financing gives it several months to try and conclude a deal.”

Trolls patting themselves on the back…lol

The below still stands…

* Injection rates were an average of 4 MCF/D during October which is an increase on September

* Enriched gas injection restarted during October

* Injection rates were increased further during November

* The number of injection wells online increased from 4 to 6 during October

* The upgraded gas gathering system is working very well with increased gas intake with a substantial reduction in the amount of flared gas

* Mild weather conditions currently being observed in Casper

* There has been no emergency flaring requests in the last 59 days

“COPLs field responds to increased gas injection in stages which we can compare to how virgin galactic launches it’s rockets into space…

Steady incline until optimum levels have been reached then the boosters kick in and the move upwards gets much steeper…it will come :)”

The above was the perfect analogy based on the facts from the last time COPL carried out increased gas injection…

In 2021 increased enriched gas injection started in April with daily production averaging 1,276 bopd at the start.. peak flow rates were then achieved in August with flow rates of 2,700 bopd…

Timeframe = 4-5 months

Was it a gradual increase the whole way through? No

Between months 3-4 the field achieved 1,800 bopd…

Between months 4-5 the field achieved 2,720 bopd…

As you can see things can get quite explosive to the upside… The field is also under more load this time round :)

“COPLs field responds to increased gas injection in stages which we can compare to how virgin galactic launches it’s rockets into space…

Steady incline until optimum levels have been reached then the boosters kick in and the move upwards gets much steeper…it will come :)”

The above was the perfect analogy based on the facts from the last time COPL carried out increased gas injection…

In 2021 increased enriched gas injection started in April with daily production averaging 1,276 bopd at the start.. peak flow rates were then achieved in August with flow rates of 2,700 bopd…

Timeframe = 4-5 months

Was it a gradual increase the whole way through? No

Between months 3-4 the field achieved 1,800 bopd…

Between months 4-5 the field achieved 2,720 bopd…

As you can see things can get quite explosive to the upside… The field was also under more load this time round ;D

COPLs field responds to increased gas injection in stages which we can compare to how virgin galactic launches it’s rockets into space…

Steady incline until optimum levels have been reached then the boosters kick in and the move upwards gets much steeper…it will come :)

* Injection rates were an average of 4 MCF/D during October which is an increase on September

* Enriched gas injection restarted during October

* Injection rates were increased further during November

* The number of injection wells online increased from 4 to 6 during October

* The upgraded gas gathering system is working very well with increased gas intake with a substantial reduction in the amount of flared gas

* Mild weather conditions currently being observed in Casper

* There has been no emergency flaring requests in the last 59 days

Things are still progressing with the above but let’s briefly shift focus back over to production…

In 2021 increased enriched gas injection started in April with daily production averaging 1,276 bopd at the start.. peak flow rates were then achieved in August with flow rates of 2,700 bopd…

Monthly gas output at start: 24,737 MCF

Timeframe = 4-5 months

This time around with increased enriched gas injection now restarted the field has 3 times the gas load in the field compared to 2021 and flow rates during October were averaging 1,110 bopd...

I would say the explosive move in production figures will be seen slightly earlier due to different field load conditions...

Monthly gas output at start: 80,102 MCF

Timeframe(Start mid October) = 3-4 months

COPL could reach their previous all time high of 2,700 bopd during January/February if injection rates are staged up in a similar manner🧨

We also know the upgraded gas gathering system is performing well with a substantial reduction in flaring observed since the system went online at the end of July…

Things will get very interesting soon…we await further guidance from COPL :)

Flaring requests were very regular before HH…COPL had permission to flare large amounts of gas for the whole year but this came to an end in the first week of October… If the GGS was struggling with the gas intake as some trolls have been praying for COPL would’ve had to submit a few emergency flaring requests to carry out this activity… however it’s all been quiet on that front :)

Further proof of the gas gathering system performing well is in the data below…

*Gas gathering system went online at the end of July

The two wells on COPLs with the highest gas output in October…

Example from the 44-21v Well

Percentage of gas flared…

July - 99.6%

October - 0.2%

Example: 34-20v well

Percentage of gas flared…

July: 86.2%

October: 0.2%

The data doesn’t lie…58 days without any emergency flaring requests and counting :)

No emergency flaring requests for the last 58 days :)

COPL is in a perfect storm at the moment…

* Gas gathering system is performing well

* Minimal flaring on the field

* Increased enriched gas injection currently taking place

* Mild weather

Favourable conditions should yield positive results :)

@Steve - As I’ve said the reason to keep an eye on the gas output is so you can see what gas load the field is under… More gas output = More load

There is no correlation between gas output and production that is solely relatable to gas injection rates which has been mentioned many times… Increased gas injection = Increased oil production

After the 1st round of Increased enriched gas injection in 2021 COPL switched to a more leaner gas whilst upgrading works were done on the field…In October this year they switched back to a more dense gas to richen the gas in the field and restarted increased enriched gas injection which is the second round of this program…

2,700 bopd was hit the last time which could be hit again and possibly surpassed during Q1 next year.

@Alan - This is only the second time COPL have undertaken increased enriched gas injection on their field and the last time we saw some substantial increases in flow rates…wait for the fireworks again this time around ;)

@Steve - It is the gas recovered from the field and it’s very important as it tells us how much the field is loaded…as you can see there is a big difference between the gas load at the start of April 2021(1st time) compared to the start of October 2023(2nd time) which needs to be taken into account when forecasting response.

My post from earlier is worth a repost…

In 2021 increased enriched gas injection started in April with daily production averaging 1,276 bopd at the start.. peak flow rates were then achieved in August with flow rates of 2,700 bopd…

Monthly gas output at start: 24,737 MCF

Timeframe = 4-5 months

This time around with increased enriched gas injection now restarted the field has 3 times the gas load in the field compared to 2021 and flow rates during October were averaging 1,110 bopd...

I would say the explosive move in production figures will be seen slightly earlier due to different field load conditions...

Monthly gas output at start: 80,102 MCF

Timeframe(Start mid October) = 3-4 months

COPL could reach their previous all time high of 2,700 bopd during January/February if injection rates are staged up in a similar manner🧨

We also know the upgraded gas gathering system is performing well with a substantial reduction in flaring observed since the system went online in at the end of July…

Things will get very interesting soon :)

In 2021 increased enriched gas injection started in April with daily production averaging 1,276 bopd at the start.. peak flow rates were then achieved in August with flow rates of 2,700 bopd…

Monthly gas output at start: 24,737 MCF

Timeframe = 4-5 months

This time around with increased enriched gas injection now restarted the field has 3 times the gas load in the field compared to 2021 and flow rates during October were averaging 1,110 bopd...

I would say the explosive move in production figures will be seen slightly earlier due to different field load conditions...

Monthly gas output at start: 80,102 MCF

Timeframe(Start mid October) = 3-4 months

COPL could reach their previous all time high of 2,700 bopd during January/February if injection rates are staged up in a similar manner🧨

We also know the upgraded gas gathering system is performing well with a substantial reduction in flaring observed since the system went online in at the end of July…

Things will get very interesting soon :)

A couple of what if’s..

What if COPL reach 2,700 bopd like they did in 2021 under increased gas injection?

What if the gas gathering system performs better than expected?

What if the field responds to gas injection better than expected?

What if COPL sign a JV with major oil company they’re currently in talks with?

What if the amount of OIP on their land gets revised higher?

What if they sign a deal to use CO2 to extract oil from their vast oil discovery in the USA?

Come on wake up people! :D

They’ll still get it out without a JV but with a major onboard it’ll be MUCH quicker!

There’s also the little matter of the CO2 pipeline being only 20-25 miles away from Cole Creek which is VERY close … Who owns the pipeline? Hmmm Exxon :D

Not many dud shares around with 1bn+ Barrels of OIP onshore in Wyoming, USA that already produce oil and are also in talks with a major oil company for a JV…The state also backs oil and gas companies heavily and is a leader in carbon capture which yields very lucrative tax credits for oil and gas companies involved in associated projects ;)

LOI also signed in July…

“COPL Announces Cole Creek JV Letter of Intent

London, United Kingdom; Calgary, Canada: July 24, 2023 - Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming, USA, is pleased to announce its COPL America Inc. ("COPLA") affiliate has signed a Non-Binding Letter of Intent ("LOI") for a Joint Venture with an established energy company to develop and exploit its oil reserves and resources at its Cole Creek project in Converse and Natrona Counties Wyoming.”

What Antha really means is they want to keep COPL on their radar as if big news lands they’ll be buying some shares ;D

“If the GGS is working as well as you propose”

I’m just presenting the data that’s readily available to everyone on here and It speaks for itself…

If the gas gathering system was struggling to perform the data would show a very different picture.

Is it working? Have a read below :)

Shouston as you’ve already said you only need to look at the WOGCC figures to confirm whether the gas gathering system is working…

GGS went online end of July…

Example: 34-20v well

http://pipeline.wyo.gov/wyoprod.cfm?UserOk=Y&oops=ID80260&nApino=934818811

Percentage flared from total gas output...

July: 86.2%

August: 9.6%

September: 0.2%

October: 0.2%

This means that 99.8% of the gas recovered from this well during October was recycled for re-injection…also there has been no emergency flaring requests for the last 55 days✅

The system continues to perform as expected :)

188star needs to go specsavers haha…the trolls are very agitated after my post ;)

Haha my post agitated some… The below is not my opinion…

* Substantial upgrades were completed at the high producing wells

* Injection rates were an average of 4 MCF/D during October which is an increase on September

* Enriched gas injection restarted during October

* Injection rates were increased further during November

* The number of injection wells online increased from 4 to 6 during October

* The upgraded gas gathering system is working very well with increased gas intake with a substantial reduction in the amount of flared gas

* There has also been no emergency flaring requests in the last 55 days

Increased gas injection = Increased oil production

The data does not lie :)

My opinion…

As of today with the assets COPL holds they remain heavily undervalued whilst they have an MCAP of £16m…so my opinion remains as STRONG BUY ;D