Member Info for Eazy

“The Convertible Financing has been led by the main bondholder (the "Main Bondholder"), institutional stakeholders, and new institutional investors providing the full amount of US$14.8 million principal, showing their strong support for the Company.”

Or bonds lol…all this talk of over 1bn shares but how many are currently in issue? And has the lead cornerstone bond holder given notice that full conversion will be taking place imminently? Hmmm

February production figures will be up(positive) with some very interesting details in there…Art won’t release the report until March has passed if my suspicions are correct…

And this from the last RNS…

“The intention of this Convertible Financing is to sufficiently fund COPL for production growth, while allowing management to optimally conclude their RBL and JV negotiations.”

Tick tock Art…I’m still waiting patiently :)

Up until January COPL had no wells flowing(on production) from the Frontier 1 which makes up most of the billion barrel oil discovery…after the successful re-completion of the 1st CC well in January this changed things which is why it was referred to as a ‘game-changer’…

Why else do you think the JVP wanted to know the outcome of the re-completion attempt? Whatever recovery rates were given previously would’ve been revised up after this imo.

P.s. It’s funny how after the successful re-completion of the 1st Cole Creek well Art went very quiet on the matter…has the JVP instructed him to keep the information shared with investors to a minimum? Hmmmm

Posted before… Both federal deep horizontal locations are in non-sage grouse areas…

(Click view APD)

http://pipeline.wyo.gov/Wellapi.Cfm?oops=ID4458&nAPINO=949001

http://pipeline.wyo.gov/Wellapi.Cfm?oops=ID4458&nAPINO=949002

I don’t know why you’re expecting poor February oil output if comparing to the abysmal January production…January oil production was the bottom and it’s only gone up from there…

January production: 1080 bopd

February production: 1200 bopd - 11% increase from the previous month

Current as of 1st March: 1400 bopd - 30% increase from January low

Only up from here imo with the Cole creek wells coming online one by one helping to bolster the oil production rates… Looking forward to the next oil production data release on the WOGCC site :)

ITD that could be the case but Arts comment below suggests everything will be released on the same day. We’ll see next week.

“A full operating update will be published at the end of March along with the publication of the Company's Annual Financial Statements and Management Discussion and Analysis and Annual Information Form.”

We’ll be getting a full operational update next week…I’m sure it’ll be a fully loaded update as Art loves to stuff everything into one RNS…hopefully there will be a few nice surprises in there :)

Volume abnormally high over on the Canadian side

The bottom line is COPL is funded into 2024 past the prospectus timeline with more than what was required…The prospectus also took into account NO progress on anything over the next 12 months from release…

1st February prospectus:

“The Company is of the opinion that the Group does not have sufficient working capital for its present requirements, that is, for at least the next 12 months from the date of this Prospectus. As at the date of this Prospectus, the Group has an immediate working capital shortfall. The Group will be required to obtain additional financing of approximately $15.7 million in order to have sufficient working capital for the period beyond the next 12 months from the date of this Prospectus”

March 20th RNS:

“Total financing quantum is equal to US$13.6 million base principal amount drawn today, a USS1.2 million upsize option and a further USS7 million in principal, available to be tapped if required and consented to by the Main Bondholder at current terms.”

“…COPL will be appropriately funded into 2024”

“Also, although we talk about AM being restrained by an NDA from discussing any 'potential' JV am I right in that is only our assumption and that this has never actually been confirmed to be the case?”

It has been confirmed an NDA is in place…

“The Company is bound by a non-disclosure agreement ("NDA") with the JV Party and as such is limited in its ability to disclose their identity and the nature of the discussions to date until after an agreement is entered.”

The flaring meeting went into detail about the works required and their was some nuggets in their too… I would suggest anyone that has not watched it yet to take a look…

https://www.youtube.com/live/PLaFN7CWjlo?feature=share

P.s. Cole creek low cost re-completion works is our NEAR TERM growth opportunity imo

Looks like continental wants to drill the frontier formation with a horizontal 30 miles NE of our Federal Deep drill location later this year…you think they heard about our discovery lol? Hmmmm

Oil continuing to rip higher after hitting lows recently…lovely sight :)

We know how much is recoverable for the Barron flats Shannon unit…

The field has 100 million barrels of oil in it and has a 50 million barrels of recoverable oil :D

COPL has been slightly more active on Twitter lately…

https://twitter.com/coplinvestor/status/1638560153304809472?s=46&t=OVzGJM4-LaH6nhPXzhnQyQ

Yep already in the bank!

March 20th RNS -

“Total financing quantum is equal to US$13.6 million base principal amount drawn today, a US$1.2 million upsize option and a further US$7 million in principal, available to be tapped if required and consented to by the Main Bondholder at current terms.”

“no tangible evidence of funds going to good use to improve production.”

I disagree…we have visibility it’s just a case of it all being executed in the coming months…

* CC re-completions in the near term on 7 wells with minimum production output of 100 bopd per well

* 6 month flaring extension application approved by the WOGCC to help with gas pressure issues allowing COPL to increase oil production whilst field works are done

* Topside gas pipe preparations being done with aim to increase BFSU output to c. 5000 bopd once steel pipes(Allows maximum MF gas injection and recovery) are in place

And this which is a very good use of the funds…

“…allowing management to optimally conclude their RBL and JV negotiations.”

Phoenix? Hmmm ;)

Good post Tiburn.

COPL was referred to as the phoenix rising from the ashes in the flaring meeting…they’ll do everything they can to turn this company into a solid mid cap company or as I like to say BEAST haha…

Should see some solid progression now funding issue has been resolved imo with loads of catalysts still in the chamber :)

The board has been successfully flipped upside down lol…what time we all selling tomorrow? Who would’ve thought getting funding would be worse than bankruptcy haha

and opulentia don’t be silly it’s 50 BILLION BARRELS we need to prove up ;D

…You wouldn’t have thought it whilst reading the BB today.

It was a lot calmer on here without the funding secured lol