What’s not to like28 Dec 2022 11:45
*Repost from yesterday*
In the near-term with so much news coming our way…
* Hedges restructured and COPL are ‘effectively unhedged’ from Jan - June 2023 with upside exposure to crude prices meaning more $$$$ being banked and ‘the business itself is standalone as profitable’
* RBL sign off can come at any time with COPL in discussions with 5 banks expecting term sheets from at least 2 institutions in the near term
* JV discussions(I think we have good idea with who *wink wink* lol) are in very advanced stages with technical due diligence completed and COPL has now been informed after putting across their proposal ‘a potential way forward will be presented by the JV Party in early January 2023’ to them
* Cole creek recompletion works have started now and a rig has been put onsite on the first well(1 of 7) with an estimated finish time end of December with the well going online shortly after(Estimated initial flow rate is 400 bopd per well)
* Horizontal drilling is also scheduled to be done on the FED deep billion barrel oil discovery with an anticipated spud date on the first well(1 of 2) 8th Jan 2023
And more in regards to our oil field which is already producing oil ;)
The clock will stop ticking soon…then it’s boom time! :D
GLA