Member Info for Eazy

The dogs are out today haha…

Please correct me on any misleading facts I’ve stated below?😄

Whilst the noise continues, our neighbours 12 miles NE of COPL are still drawing oil in commercial in quantities from the 3 wells drilled within the last 3 months, without any secondary recovery methods being used achieving flow rates between 330-690 bopd :)

All this bodes very well for COPL for when they start sinking horizontals into the frontier formation hopefully with a major oil company by their side…

Remember this was stated by the company recently…

“The company more than stands by its initial assessment of the resource.”

“This group(JVP) has done substantial technical due diligence to date.”

Again, last week we had a few positives out by COPL…the market will listen when it’s stopped throwing a tantrum ;)

• 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

Production now on the up with another increase expected for this months oil production figures due to the very successful well conversions…

Total disconnect between asset and SP in this share and the market is throwing a tantrum… all things come to an end…eventually.

Good posts Tiburn…

I agree although the SP is very low the fundamentals are positively changing which should be noted by shareholders…disconnects can happen between MCAP and fundamentals which we’re seeing now but going forward that will change imo.

Last week we had a few positives out by COPL;

• 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

And there’ll be many more positives to come which will leave the naysayers with not much ammo :)

And what would you expect everyone to do at this point prophetus? Seeing as it’s only going one way :)

09-Jun-23 11:48:14 4.45 870,000 Buy* 38.72k O

09-Jun-23 11:44:52 4.35 256,162 Buy* 11.14k O

“Because I believe we will be diluted as soon as Art has completed the consolidation.”

If you believe the above then averaging down should be considered…

Last consolidation in 2021… Voting passed in May 2021 but no consolidation happened until October 2021.

Many things can happen before any consolidation…

The gas gathering system part was the only part of the RNS that wasn’t instantly impacting COPL positively although them sourcing all the required piping was a HUGE bonus…however…

Conversions are making an INSTANT impact on production…

&

The successful re-completion of the 12-23 well also made an INSTANT impact in COPLs favour in Joint Venture negotiations…

But I guess if most think only the JV & RBL(they are the bigger catalysts I guess) are the show stoppers then now we know why this board is still a mess after the release on Monday :)

In other words you’re not interested in any news unless it’s about the JV…lol

“Give us something positive so the discussions on here can change.”

Bolton on Monday he released very positive news but the holders *cough* trolls don’t care so here we are…

Monday 5th June…

“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.

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.”

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

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

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

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.”

Tiburn I’ve been asking them that question for the last few weeks…yet still no answer haha

I’m still waiting if you’re wondering FF ;)

Fastfood good afternoon, hope you’ve had a nice day :)

Who authorises well permits in Wyoming?

“Simulation of the production previously showed 5000 bpd possible, once MF has done its work at a higher injection rate and the GGS fully installed.”

And the above projections are based off 10 Mmcf/d so with COPL declaring recently they’re now looking to increase injection rates to 12 Mmcf/d we can expect oil flow to peak at a higher rate than the 5000 bopd stated and this is just for the BFSU…only 50 million barrels of recoverable oil under that field ;)

Current pricing for £500…

4.48 to sell

4.66 to buy

NT to buy below 10,000 shares

But look at the headline share price…hmmm MM’s continue to play games lol

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

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.”

The above confirms the 2nd re-completion done in Cole Creek on the ‘CC 12-23’ well was successful with oil flow observed on perforation(unstimulated flow of oil). The frontier level targeted was lower than the ‘oil down to’ logged in January so the JV party will be very happy with this strengthening COPLs position…

The wells need to be stimulated after by fracture or gas but the interesting bit is he’s evaluating these options in conjunction with the JV discussions…we already know that Art wants to go straight to secondary oil recovery(Butane mix/CO2) once the JV has been agreed so this is very positive…

The market won’t be able to ignore these developments for much longer but if it does it’ll eventually be caught out :)

The market will start to wake up soon…very undervalued at these levels imo

Onwards and upwards! :D

RNS out and it looks like Authur was listening ;)

“Production from the first converted well in the program is up 110% from pre-conversion levels.”

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

The second re-completion was also successful…

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

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.”

CEO - "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."

Great update🤝

COPL went through their successful treatment methods in October 2022. These works have been completed and continue to be done which is probably the reason why the wells converted will be very responsive to the flow configuration changes…

And not to forget the gas injection rates, although lowered from peak have been maintained at a base level thus keeping the BFSU under load so once the high pressure GGS system is in place oil production is expected to go up sharply when injection rates are subsequently boosted again📈

Sageman I’m not sure whether they’re insulated but the main reason for them being installed is the increase in pressure from the well…

The wells were converted from flowing to high pressure pumping-flowing as it enables COPL to increase pressure in the well reducing the amount of time the paraffin has to crystallise which can block it over time…

The reservoir is already under good pressure but letting the oil flow under pumping-flowing configuration should help with maintenance for the big producers…another positive apart from the reduction in wax is the instant impact(due to pump) on production as seen with the BFU 34-20v which showed a 100%+ increase in flow rate when compared to March logging 207 bopd in April.

COPL should provide an update on the well conversions as this would be well received by the market if a sharp increase in oil flow has also been observed in other wells completed :)

Great stuff guys looking forward to next week!

Increase the peace :)