The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Stas as you’ll already know a website can be developed in the background whilst the old one remains in place… they could be working on this also to launch in time for the Q3 release ;)
It’s clear they’ll be big step change going forward…very positive :)
Stas you’re a little early…
“The Company will appoint one additional independent non-executive director to be nominated by the Purchaser by no later than November 1, 2023.”
They could appoint them at 11pm today so give them until until tomorrow before going on the attack ;)
“For me it’s all about production figures, can we increase above 2000bopd.”
The last time(2021) COPL boosted injection rates on the field flow rates reached a maximum 2,700 bopd with infrastructure that wasn’t fit for purpose…
The real question is when will they go above 2,700 bopd again ;D
“Oct 31 (Reuters) - Denbury(DEN.N) said on Tuesday its shareholders approved the company's merger with Exxon Mobil (XOM.N), with the deal closing expected on Nov. 2.
Exxon Mobil in July agreed to buy the Plano, Texas-based Denbury for $4.9 billion to accelerate its energy transition business with an established carbon dioxide (CO2) sequestration operation.”
https://www.reuters.com/markets/deals/denbury-shareholders-approve-merger-with-exxon-mobil-2023-10-31/
COPL announced their ‘LOI’ with the mysterious ‘Established Energy Company’ within 2 weeks after the Exxon and Denbury deal was initially announced… Coincidence? Hmmm
3LP all data is taken from the WOGCC site which is COPLs official channel when releasing monthly well data…
When observing gas injection rates there was notable difference between August and September…
August: 2.7 Mcfd
September: 3.7 Mcfd
Difference = 37% increase
If you click on the Twitter link it will show you a graph(COPLs oil output and injection data) another investor in COPL has made up which shows you the positive correlation between increased gas injection and increased oil flow :)
After the release of the monthly production report we now know gas injection was ramped up during September putting COPL on the path to increased oil production…
In the coming weeks/months we’ll see how the field performs with more gas continuously being injected as the last time COPL did this in 2021 they hit daily highs of 2,700 bopd :)
https://x.com/eazy_investor/status/1719061703583846551?s=46&t=OVzGJM4-LaH6nhPXzhnQyQ
Just to add looking at previous data we should now be looking forward to COPL returning to previous oil production highs(2,700 bopd) now that increased gas injection has restarted…
There’s also a graph to look at which shows the positive correlation between the amount of gas that is pushed into the BFSU field and the oil that then flows from it…
Credit: RD
https://x.com/eazy_investor/status/1719061703583846551?s=46&t=OVzGJM4-LaH6nhPXzhnQyQ
Monthly data is out…
Monthly production figures are down(1 less day) but daily flow rates were up a little
August - 1146 bopd
September - 1148 bopd
The main event…
Confirmed through WOGCC data… Increased gas injection in the field was restarted during September with injection rates showing a sharp increase and is higher than anything they’ve done this year…
We already know COPL were ramping up further during October…
“The company plans to spend over $500,000 on NGL injectant in each of October and November to increase the density of NGL's in the gas injection”
September figures will be the bottom imo… October onwards production will RISE!
“The Company will appoint one additional independent non-executive director to be nominated by the Purchaser by no later than November 1, 2023.”
“COPL will shortly appoint a new director, who is expected to focus on production increase and operating costs control.”
Not long to go now…
“This says it all, the man is a walking ego egged on by the slavish ticks his posts gets from fellow rampers. Strong buy all the way down from 30p from this utter tool.”
Trans back your claims up with evidence… I don’t like liars :)
Pilot couldn’t find any…back your posts up with facts ;)
“Anyone who thinks this will reach a mcap of £300m is delusional.” - Haha If you really think this you're the one that’s delusional
Have a read of my very recent factual based post below…not based bad for a ramper I must say ;D
…
Every now and again we get the “if COPL get it out” crowd…
COPLs VERY close neighbour ‘IMPACT EXPLORATION & PRODUCTION’ got some very impressive oil flow rates out of their 2 horizontals in August targeting the Frontier and Shannon Formations…
Exhibit A:
Production in August from a Horizontal targeting the Frontier Formation…
28,457 barrels / 918 bopd
http://pipeline.wyo.gov/wyoprod.cfm?UserOk=Y&oops=ID97203&nApino=936585451
Exhibit B:
Production in August from a Horizontal targeting the shannon Formation…
35,637 barrels / 1150 bopd
http://pipeline.wyo.gov/wyoprod.cfm?UserOk=Y&oops=ID34015&nApino=948987811
Very compelling evidence above that COPL can extract a VAST amount of oil from their land as shown by their neighbour…not to forget COPLs field will also have the same geological profile as those around them…
To be clear… the data above is showing figures for EACH HORIZONTAL WELL!
Remember COPL and the JV partner wants to go straight to secondary recovery via gas injection(more than likely CO2) once the deal is signed…why would they do that if there weren’t strong belief in high recovery rates of the oil? Hmmm :)
Now go and enjoy your Saturday you knob.
The link to the comments by ExxonMobils CFO…
https://www.ft.com/content/9afadb63-b99c-4fa9-bbbc-c21bb83001a4
Things could get very interesting :)