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Great post tiburn…

Main thing to highlight is under what circumstances the tap facility can be used… “with the aim of increasing production or for future drilling plans, subject to mutual agreement with the Lead Investor”

With all that may be going on the lead investor will want no interruption to work that will increase production and they’ll probably be in the know as to where Art is with these discussions so there’s no doubt as to the tap being supplied in the near term…The CC works were seen as materially significant and game changing so that would be the lead investors priority…

COPL found a billion barrels of oil confirmed by Ryder Scott and has been backed up by the recent Cole Cole re-completion on the first well for Frontier 1 oil production which flowed oil at a higher rate than expected…

One thing to also note I recently put across a thought that maybe the JV party will wait for multiple wells to be online before signing a deal which was shot down immediately…hmmm JV may be closer than we think…

*Very unlikely lol

After some snooping around(Just something I came across lol) it seems COPL isn’t the only one looking to exploit the Frontier formation in the same region…

Someone or should I say ‘a potential party’ are looking to exploit the Frontier formation with horizontals around 30 miles to the east of the FED deep well location this year it seems…now why would they be doing that? Did word get around about our billion barrel oil find resulting in some others thinking they may be in luck if they also drill? hmmmm

Didn’t Art say that the discovery got the attention of some folks to the east? hmmm

Something to think about…even if it isn’t this ‘party’(Very likely it’s the same ones we’re in discussions with) it’s interesting to see not too far to the east others are also looking to exploit the Frontier with horizontals…I guess they have a funny feeling they may find some oil down there ;)

http://pipeline.wyo.gov/wyodall.cfm?nAPINO=942842&nApi=942842&Oops=1

P.s. The ‘potential party’… Devon Energy and Grayson Mill

Why wouldn’t they want a piece of Cole Creek…they’re clearly very interested in all that is happening over there and were the ones suggested to Art to do the well re-completions for Frontier 1 oil production out of Cole Creek(Probably just to confirm that there was oil flow from the place COPL claimed to have a vast amount of oil which was found during the drilling which identified the 1bn+ barrels of oil)

The re-completion at Cole Creek was successful hence Art didn’t waste no time in getting the data over to the JV Party to enhance his position in the JV discussions but also prove to them ‘this isn’t a punt’…

I would assume there is much discussion going on and they’re probably looking at getting involved in more than just the FED deep…but either way after Art gets the 3rd well re-completed and producing oil(I think this is the case) expect a sharp upgrade in booked reserves which then adds more value to COPL in the near term :)

Looking good for a move into the 9’s atm :)

Lol

Art mentioned in an interview this could easily be extended with the right reasons given…the horizontal drilling dates tied up due to JV talks is good enough grounds and the works on CC would satisfy the BLM in the meantime imo(Art recently didn’t seem too bothered on timings so expect it to be all in hand)

Sub I was referring to today when talking about the trolls who went very quiet straight after close…coincidence? ;)

Now it’s a little quiet with the trolls resting as they can’t influence the SP, I thought I would draw everyone’s attention back to the Cole Creek works which are ongoing as we speak…got lost in all the noise this week which was expected I guess…

RNS this week -

“Production at the Barron Flats Shannon Unit ("BFSU") is expected to remain constrained until such time as the Company secures funding to debottleneck the gas gathering system to recover produced gas for re-injection.” - as long the production doesn’t decline… at this current time…who cares? Reason why…

Re-completion works are currently being undertaken on the cole creek field to increase overall production re-completing no-producing and low producing(frontier 2 completed) wells for frontier 1 production(7 in total)…THIS is the near term driver for production forget about the BSFU…

Every well has had strong oil shows with multiple wells having oil flow at surface during initial drilling… with 7 wells online producing a conservative c. 700 bopd that would be a big increase in production seeing as our average production for Q4 22 was 1,360 bopd and would most definitely help with cash flow!

For anyone that may ask how did I come to a ‘conservative’ estimate of 100 bopd…

The recent RNS attached at the bottom with data from the first well re-completed…

“11-27-35n-77w well is currently pumping 125-135 bbl./d of fluid through 65' of unstimulated perforations, with gasified light oil cuts of up to 86% observed late last week” - there is still 50’ left to perforate and the well is not being stimulated…

I could go on further but I’m sure you all get my drift…keep your eyes on the prize…confirmation on the second well can land any time :)

P.s. One more thing…Art mentions in the recent prospectus that he plans to re-complete the horizontal well 44-22H in cole creek for frontier 1 production in time which could produce an initial 1000 bopd once works are done…now that would be something!

https://www.lse.co.uk/rns/COPL/copl-announces-frontier-1-oil-at-cole-creek-mdfoh53t4scntnr.html

I don’t think we’ll be sold short when it comes to the JV…Art said this himself - “Our job is to maximise our position in any venture.”

When he feels the terms align with his expectations then he’ll sign on the dotted line and going off the below it’s not as far away as some may think…

"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"

Greg - LOL now that’s a REACH

Teens anyone? :D

CC re-completion works on second well was due to start this week so we can get news any day on that :)

This was a worst case scenario statement which Art was forced to do factoring in failure to make any improvements in production and sign a JV imo…

On the subject of the JV…the statement below doesn't give the impression one won’t be signed…

“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.”

If it’s the old one why does it contain reserve(OIP) figures from the Frontier 2 and Dakota in relation to the billion barrel oil discovery?

Canada still rising :)

0.1550 CAD
+0.0500 (+47.62%)
Volume: 718,680
Avg. volume (3m): 51,969

After those 2 big trades the books have opened up…strong finish on the cards :)

Funny thing is I messaged Art a few days ago about well 44-22H to ask him if it was in his plans for the re-completion program at CC due to it’s high flow rate potential as an horizontal well.

Stas I agree looks like all eyes on the gap!

50% up now…this will continue to be chased up over next few sessions