Member Info for Eazy

16-Jun-23 16:36:56 3.324 2,028,705 Buy* 67.43k O

Someone’s hungry :)

“Furthermore there is no actual guarantee that workovers/new pipes will be successful.”

No guarantee but current information provided by COPL and the WOGCC are showing these workovers are working extremely well…

• First well increased flow rate by 110% after well conversion

• All three wells converted showing increased flow rates after conversion from flowing to high pressure pumping-flowing configuration

• 9 wells will be converted so you can see what’s going to happen with production

In relation to the piping…

The current gas piping in the Barron Flats Shannon Unit couldn’t handle the pressure due to them not being suitable for high pressures so injection rates are currently limited…

The new pipes are steel 8” ones that are designed for ‘high pressure’ gas flow…the wells initially targeted are the highest producing ones so we should see a huge increase in production once connected to the system…also one thing to note is the BFU has been kept under load so response to increased injection will be quicker than some expect…

So what’s the reason to doubt the workovers and new gas pipes will be successful in achieving higher oil production?

Stas there is also $20m available from the senior lender but there no intention to use this as an RBL is expected to be achieved going forward to take over from this.

There’s multiple things that can go COPLs way to better there position but on the specific subject of funds…

Cornerstone long-term bondholder ‘Anavio’ have already pre agreed $7m for COPL to draw in the event it’s required to ensure they are adequately funded into 2024.

“People mention Exon. If it is them they will wait until company goes under to swoop.”

Why would the company go under?

If the JV partner was Exxon I think the land on which COPLs sits on is the most valuable for them…

Making oil extraction more green is on the top of the list of most majors and there’s a CO2 pipeline that runs to a west of COPLs field missing COPL and all the major producers to the east…

We already know they have the spare capacity available to supply CO2 to others which isn’t being used for anything at present(Being dumped back into the atmosphere)…

JV with COPL…get the pipeline to Cole Creek then move to the Federal Deep then continue east to supply the major producers…

The best bit…help COPL extract all that oil sitting under their land whilst doing it…something to think about😄

All the evidence that we know and Exxon’s current corporate strategy is the reason why they are being highlighted as the most suitable candidate for a JV with COPL.

I wonder what the May production figures will show once they’re updated on the WOGCC site…

We’ll get to find out what oil flow improvements have been made on other well conversions that have been done :)

250K buyer? They may be back again :)

@CivilsQC The comment you’re referring to is from a presentation done by the company on 30th May which stated the below in relation to the JV…

• 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.

Last page - https://pipl.site/wp-content/uploads/2023/05/COPL-Annual-Meeting-May-30-23-Final.pptx

MCAP now at £15.5m with updates shares in issue…

Fundamentals getting stronger everyday🤝

• Increased monthly oil production for May compared to April

• Well conversion on first well increased oil production by 110%

• 3 converted wells now online and all three showing increased flow rates

• A second well was successfully re-completed for frontier 1 production with oil flow confirmed out of the formation AGAIN

• All the required high pressure gas gathering piping has been sourced from Canada avoiding delays for the pipe in the USA and installation of pipe is going smoothly

• JV negotiations progressing and now focused on the structure of the JV which includes talks regarding use of CO2 for secondary oil recovery

Let’s see if the attack today fails again…very hard playing a stock when it’s at historical lows which is also it’s main support ;)

“The only time the share price goes up here are just before a raise or before bond conversion”

Then you should also note that no bonds were converted today if you read the RNS.

You have been called out on your false information already FF but continue to repeat it lol

Answer the question…

Who authorises well permits in Wyoming?

A good time to remind everyone what was said about the JV on 30th May in the presentation…

• 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.

Once everything is finalised and the JVP is announced it’ll be EXXcellent ;)

P.s. What was COPLs initial assessment of the resource?

“COPL currently estimates the total reservoir volume of the discovery to be 1.5 billion to 1.9 billion Bbl. of Oil in Place ("OIP"), of which 1.275 billion to 1.64 billion Bbl. of OIP underlays COPL lands”

“No rise is maintained for very long.”

Some folks won’t be happy about the close…lol

I’ve noticed a few of the crew are quiet today compared to other days this week…

What happens when you throw everything at it and still don’t get a result? Hmmmm :)

Here’s to another blue day to end the week!

FF last thing…

Who authorised well permits in Wyoming?😊

Fastfood keep going you’re doing a great job ;)

Volume at 21m… impressive and like Bladderman said JBER now a buyer :)

MM’s went for a full raid this morning…lol

Just last week…

RNS - June 5th 2023 - Operations Update

· Three conversions of BFSU flowing wells to pumping-flowing wells have been completed;

o Production from the first converted well in the program is up 110% from pre-conversion levels. The well was converted in mid-April, with stable production averaging 190 Bbl./d in the month of May, up from an average of 90 Bbl./d flowing excluding downtime periods pre-conversion.

o The second well is producing oil above pre-conversion levels but is not yet stable. Paraffin treatment schedules are being evaluated which are intended to bring stability along with enhanced production levels.

§ Both of the first two wells in the program experienced significant downtime in flowing configuration from Q3-2022 to Q2-2023 due to paraffin plugging. The conversions accompanied with scheduled paraffin treatment programs are intended to maximize production from these wells and eliminate production interruptions.

o Conversion operations on the third well were completed just days ago, with the well returning to production on May 31.

· Oil production is increasing from the well conversions and the resumption of the Company's production optimization program after weather-related disruptions in Q1-2023.

o April 2023 average gross production: 1,170 Bbl./d

o May 2023 average gross production:1,330 Bbl./d

o April and May production includes production downtime as COPL America undertakes well conversions to pumping-flowing, wellhead upgrades and paraffin remediation treatments. Production is expected to increase from these wells following these conversions and proactive paraffin treatments.

· The initial phase of the second Cole Creek Unit ("CCU") recompletion for Frontier 1 oil production has been completed;

o The well has been perforated with oil inflow observed on perforation. The Company is evaluating options for stimulation of the perforations, and the timing of these, in conjunction with its JV discussions.

Arthur Millholland, President and CEO commented:

"The Company is progressing on all fronts outlined in our last Operations Update. We are pleased with the progress on the construction of our Gas Gathering System Upgrades and are fortunate to have been able to acquire the necessary high-pressure production equipment we require here in Alberta, avoiding supply chain and long lead times in the United States. The results from our first well conversion have so far exceeded our expectations. Production from the converted wells takes time to settle down to design and implement a well specific paraffin treatment regime. We are active on all fronts and will continue to update the market."

Just like that…back to flat

Whoever the buyer is definitely has some ammo!!

Block buyer isn’t stopping😄

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