Member Info for Eazy

All ready to go when the JV is signed :)

Non-sage grouse locations also…come on Art get the deal done!

Jambo that’s true. I think the two can be done simultaneously as the pipeline work will be done via a third party whereas the CC re-completions are being taken care of by COPL.

Jambo the pipeline upgrades come second to the CC works imo…much more bang for our buck!

Those works alone increase COPL’s output by c. 700 bopd minimum in the short term.

We’ll be getting a full update at the end of march…he’s been very tight lipped about cole creek since the successful re-completion of the first well so a full update is welcome.

“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.”

Just the updated timeline on JV talks :)

4th Oct -

“COPL has been approached by a large recognised oil company regarding a JV to delineate and develop the discovery, with discussions continuing.”(From presentation)

1st Nov -

“Due diligence is being conducted by a large oil company with respect to a possible Joint Venture on the Company's deep oil discovery.”

15th Nov -

“Due diligence and discussions continue with respect to a possible Joint Venture on the Company's deep oil discovery by a large oil company which approached COPL's COPL America Inc affiliate. The Company will provide an update at the appropriate time. The Company is encouraged by the progress to date.”

21st Dec -

“As previously disclosed, COPL was approached late in the third quarter by a large oil company ("JV Party") inquiring if the Company was interested in a Joint Venture partner to appraise and develop its Barron Flats Deep oil discovery announced in September 2021. 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 JV Party conducted technical due diligence on the Company's interpretation and technical information of its deep oil discovery which was presented as a significant extension to the Frontier and Dakota oil accumulation at its 100% working interest operated Cole Creek oil field. As common in industry the JV Party would also conduct their own internal evaluation, which we believe has been completed.

In early November, the Company presented its outline of a joint venture to the JV Party for discussion. COPL understands the concept is moving through their internal processes as the Company has been asked for additional time for the JV Party to present a potential way forward. COPL has agreed to this request and has been recently advised that a potential way forward will be presented by the JV Party in early January 2023.”

23rd Jan -

No RNS about the JV but Art confirmed the JV party requested and was sent the data of the successful frontier 1 completion(Which confirmed the JV party had got back to him in January but talks still ongoing)

1st Feb -

“The Company confirms that it is actively negotiating terms for a joint venture for the long-term development of its Wyoming assets. The Company plans to announce the detailed terms as soon as they are agreed.”

20th Mar -

“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.”

The wording seems to be changing with every update ;)

Art never said we was signing a JV in January

On 1st February the market dropped COPL 65% mainly on the statement below and also because oil production was severely affect at the time due to abnormal weather.

“… there is material uncertainty that casts significant doubt the Company's ability to continue as a going concern.”

March 20th RNS -

“COPL Announces Convertible Bond Financing of US$13.6 million committed and potentially increasing to US$14.8 million”

“A further undrawn element has been made available by the Main Bondholder, should it become necessary, to ensure COPL will be appropriately funded into 2024.”

Oil production is also 30% up from January lows with the last figures given on March 1st showing an increase from 1080 bopd to 1400 bopd.

Some were even getting twitchy within the last few weeks about the JV which was also cleared up in the last RNS to remove any doubt.

“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.” - Key word ‘CONCLUDE’

Hmmmm…now we just need to hear about what’s happening with the CC re-completions(Next news is on well 4-27) as each well that comes online is expected to produce a minimum of 100 bopd, once optimal flow rates has been achieved and we have 5/6 more to do in the near term :)

Fully funded until 2024 with the going concern now removed and that’s all that matters…

Also for anyone that missed the flaring hearing the other day which COPL smashed! The link is below:)

22 minutes onwards - https://www.youtube.com/live/PLaFN7CWjlo?feature=share

Highest volume day since 3rd February…bodes well.

Boosting this thread and also my post… trolls running out of runway ;)

Going concern removed!

Cash in the bank!

New Institutional Investor!

And this…

“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.”

What’s not to like :D

Thanks Edgein, very good point and It also shows that we do in fact have the full backing of our cornerstone bondholder which some may have had doubts over.

The word ‘CONCLUDE’ used in the messaging about the JV and RBL also got my attention. Looks like we’re in the very FINAL stages for both with more news not too far on the horizon.

20-Mar-23 08:22:10 6.64 500,000 Buy* 33.20k O

Some are hungry for shares :)

Going concern removed!

Cash in the bank!

New Institutional Investor!

And this…

“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.”

What’s not to like :D

I wouldn’t worry about it too much as it’s not a supply/demand issue driving the price down… It’s just getting caught up in the market turbulence as most big banks hedge against oil to protect their bond losses

RNS in January*

Warren buffet practicing what he preaches…now why would he be buying more shares in an oil stock at this time…hmmm :)

YouTube link taken from Bladderman’s post:

https://youtu.be/8K7qVBPD2B0

Article today:

“Berkshire Hathaway, the investment vehicle of Warren Buffett, has bought another batch of shares in Occidental Petroleum, pushing its total stake to 23.1 percent.

Citing a regulatory filing, Reuters reported the investment company had bought 7.9 million shares in Occidental, paying $466.68 million for them.”

RNS in December when Art made reference to them in comparison:

"The Tap provided by our lead institutional investor today illustrates the confidence they have in our business plan going forward. Long term investors in the Company are key to our future, as they provide balance and confidence to our current shareholders, and other stakeholders, by allowing the Company to grow through the execution of its business plan. One only needs to look at Occidental Petroleum who have performed brilliantly with the support of a single long term lead institutional investor."

The next production figures update will be VERY interesting…we already know we’ll see an increase but we’ll also get to see the performance of the two(Assuming the second is done) re-completed CC wells :)

“The oil market is set to swing from a comfortable supply overhang in the first half of 2023 to a deficit in the latter part of the year as the economic rebound in China will push global oil demand to a record high, the International Energy Agency (IEA) said on Wednesday.

World oil demand growth is set for a sharp acceleration over the course of this year, from an estimated increase of 710,000 barrels per day (bpd) in the first quarter to a growth of 2.6 million bpd in the fourth quarter of 2023, the IEA said in its Oil Market Report today.”

https://oilprice.com/Energy/Energy-General/IEA-Global-Oil-Demand-Will-Outstrip-Supply-In-Late-2023.html

No drilling was/is required on the CC wells part of the re-completion program as the wells are already completed from what I know…all COPL are doing is plugging the frontier 2 formation and then perforating the frontier 1 formation.

I did ask about the rig that was required for the work and it was confirmed that the rigs for drilling and re-completing are different, which then allows COPL to do Cole Creek work and Fed Deep drilling simultaneously without having to switch between the two once both being done.

Saying that…now we know that the flow tests were done on well 44-19v in February(confirmed in the hearing), if this required the work-over rig we could potentially assume that the CC 4-27 well had a re-completion attempt on it during February(Scheduled for then) also…could this be in the update coming in the next few days from Art? Hmmm

Someone just splurged on 300k shares…the buying isn’t stopping if that’s what the MM’s were banking on lol