Member Info for Edgein

Bolton,

It certainly is the perfect time for the GGS upgrade to be fully operational and the bottleneck removed. Hopefully one the increasing production settles we'll get an update from the company. Also we should see that production profile for up to 10mmcfd injection rate in due course too. When this one pops it'll pop properly! Looking forward to when the company is no longer under that NDA that's for sure.

Regards,

Ed.

DB,

Absolutely, when our production infrastructure and injected gas is still worth about x5 our market cap it suggests we're a tad over sold still. Our 40mmbbls of 2P is 40mmbbls more reserves than some other companies being mentioned and isn't even remotely priced in. So upside regardless of the massive discovery or JV, too damn right. Should be 30p+ regardless of any JV, but lets see what happens on the updates we get before year end.

Regards,

Ed.

Yeah the fact the large listed established oil company approached COPL and not PANR tells us all we need to know. PRB is prolific and there's big money transactions going on. So its the right place at the right time for COPL in the PRB. Like many have said its just a case of sitting and waiting here. JV talks are only about two weeks away from their 1 year anniversary, lets see if the potential JV company has any presents for us.

Regards,

Ed.

Nige,

I would doubt that they would have a buyer for Canegrass at this stage or they would get much for it as it hasn't been drilled yet. It would certainly gain value if they get some drilling with decent grades.

Yeah I'd imagine well get some more new appointments in due course as well as the new MD we have for Angola. I'm sure that JP will remain in his advisory role until we get a new CEO.

Regards,

Ed.

Sienna,

The Canegrass asset in Australia has mapped pegmatites and the company operating in the nearby licence has found reasonable grades of Li. So the option they acquired could be worth quite a bit if they encounter commercial grades at Canegrass. Clearly not as high priority as Angola or Brazil as they could bring almost immediate cash flow, they're planning early production from Angola if successful and the Brazilian assets being looked at are apparently producing assets. But if/when they get that cash flow coming in a few mill could be put to use on Canegrass to see if they can get something that looks commercial then potentially sell it.

Regards,

Ed.

Nige,

You're welcome. Yeah it funded the sign on fees for Angola etc. So did its job in the transformation. Angola has been moving fast from acquisition, to sign off/completion to boots on the ground. Next RNS regarding Angola that I'm expecting is the spudding of the first appraisal well. So very rapid progress so far. Take AET or SRSP for example, its taken them an age to complete their Angolan acquisitions (they are bigger scale than ours but taken over a year so far). So impressive rate of progress so far for CRCL. We might even have our first well drilled before those others complete their deals.

Brazil will be a bit of an unknown but news flow from Angola should be thick and fast in the near term, especially if they do decide to drill more than one well.

Regards,

Ed.

Nige,

I believe that the restructure is down to the fact that we're becoming an oil and gas focused company and that the legacy assets are getting the chop, including Mambare. I reckon that Mt Weld will go too as it served its purpose in funding the acquisition of Angola which currently looks like a great asset with those two field redevelopment and activity now ongoing in preparation of drilling Tobias-13. Also making way for the first Brazilian acquisition.

One they establish production and cash flow, possibly from Angola first, I'd like to see some of that spent on drilling Canegrass as lithium assets are quite hyped up on AIM and wouldn't hurt. They might even get a bit of cash in from selling off Mt Weld to fund some of that too.

Regards,

Ed.

Duc,

Yeah that's just for starters, then you have the plastics and rubber in the cars, pharmaceuticals, chemicals, textiles, paint and a pretty endless list of what oil is made into. Just stop oil is more like just stop everything, its not going to happen for decades. Until they can figure out how to make the above list out of wind then I think we're pretty safe. :) I'd be a little more concerned about peak oil now that the shale boom is past its best. Oil demand keep rising and we've had a hint or glimpse of what supply and demand did with the start of the Russian invasion of Ukraine. Something that the swampies should be more concerned about.

Regards,

Ed.

Shouston,

Agreed. I'm counting on that too! No reason for restraint or bottlenecks any more now, they can now push them as hard as they wish and get that gas injection pattern back to where it should be, around our best producers. Not sure we'll hear much more on the CCU re-completions before the JV. As the company said, the second re-completion will be stimulated in conjunction with the JV. Since then we have had the LOI, so I'm assuming they also agree with Art's statement. :) So I'm not expecting to hear another peep about CCU until the main event.

Regards,

Ed.

CM,

A lot of people will already be fully loaded waiting for these ops and the first Brazilian acquisition etc. Imo we've better assets than the likes of BCE and they're already capped at almost £20m. So roll on the drilling and see where we're capped at then.

Regards,

Ed.

Tiburn,

Interesting numbers for sure. Also as we get in that incremental production coming in we'll also see the previous 1249bopd getting more profitable too as netbacks increase per bbl of total production. The higher the production going through the same number of wells and same infrastructure the better. Hopefully be looking at $35-40/bbl netback by year end and into the $40+ per bbl next year. What will be interesting is the new model for the up to 10mmcfd, can they exceed the previous planned peak of 7000bopd now that they think there may be as much as 50mmbbls recoverable from the BFU alone (second gas hearing). Certainly as you say, looks like its turned the corner and the assets can start to be priced in finally. That inclining Q on Q production that we were promised after Atomic might be finally about to arrive.

Regards,

Ed.

Keith,

Yeah awesome news, making preparation for drilling already. Getting off to a flying start as they only have this asset for a couple of months. The well is pretty shallow so won't take long to drill once the drilling commences. We'll be looking forward to the upcoming progamme once the company is in a position to announce. But its good to see the company clarifying what we all thought, that with modern drilling and completion the field could be exploited better. Interesting that it may even increase the STOOIP numbers. Excellent, lets see what this Angolan activity does to our tiny market cap. Fingers crossed this well will be down and tested in H2. Looking forward to further updates!

"Antoine Karam, Executive Chairman of Corcel, commented: 'The commencement of activity on our Angolan acreage is a significant milestone for the company as we refocus our strategy and look to create material value for our investors. This news is an important part of Corcel's evolution as we focus on oil and gas opportunities and we look forward to updating our shareholders as we advance the work programme with our partners."

Material value onto our £2.5m cap, lets be seeing some of that.

Regards,

Ed.

CB,

We've been propelling quite nicely on the fact that its oversold, I'd expect that to continue as word keeps spreading about how oversold this is. Volume is still well up since the recovery. Traders will have to watch the screen every minute that the market is open and potentially Canada too as we're almost 1 month on since the upgrade to the GGS and commissioning and also almost 12 months on from the large listed established company approached COPL. Many will already be preparing their messages about them just buying back in minutes before the blockbuster news.

Regards,

Ed.

While folks rightly say its a secondary market and small compared to the LSE for COPL it has changed sentiment in recent months. In the past it would have been the ask stacked with sellers but that has been totally flipped as well as their volume. In the recent past there would just have been parcels of 500 shares on there but looking at last night interest on the bidding side has been as strong as I've seen it in some time:

Bid Broker Bid Size Bid Price Ask Price Ask Size Ask Broker

CIBC World Markets Inc. 45,000 0.075 0.085 2,000 National Bank Financial Inc.

TD Securities Inc. 5,000 0.075 0.085 25,000 Desjardins Securities Inc.

Independent Trading Group 500,000 0.07 0.09 5,000 TD Securities Inc.

TD Securities Inc. 400,000 0.07 0.09 10,000 CIBC World Markets Inc.

TD Securities Inc. 1,140,000 0.065 0.095 3,000 TD Securities Inc.

So bid size there back to 6.5c over 2m, ask size up to 9.5c only 45k, that has completely flipped. So clearly Canadians are holding tight and anticipating news. For months it was sellers filling up the ask.

Regards,

Ed.

Eazy,

There may be some slight signs of progress in the July production numbers, but as the company said gas injection was being redirected into other areas of the field. Once the GGS had been commissioned and fully operation then they could up the injection rate and inject more into the central and western areas where the most productive wells are. As stas20 said earlier the real signs of production increases should come from August onward (as the company stated regarding production increases on the 15th of August). Probably the most impressive gains will be had throughout Q4 as the production rises with the gas injection rates increase.

Regards,

Ed.

Tuckman,

The company already confirmed they have a production increase from the MD&A from the 15th August release, they just haven't confirmed the quantum of the increase yet:

"The Company has implemented several measures to mitigate the circumstances and is currently observing increased production rates, however the overall operation continues to be unstable. Once stable, the Company will be in a better position to forecast its production going forward."

Regards,

Ed.

Stas,

No I don't need to reference Art's 50p right now, I just have to look at the current shares in issue (700m approx) and resulting market cap to know that it doesn't cover hundreds of $m of reserves, infrastructure and multiple Bcf of gas and millions of litres of Butane isn't in the price at 6-7p or even at multiples of that. Should be 30-40p right now before any JV.

Regards,

Ed.

BB,

If you include the current assets it should be a heck of a lot more than 6-7p right now. It was 5-6p when folks thought it was going bust earlier in the year, only Spreadex and Anavio drove it down to way over sold. Hopefully it won't be long to find out just how much the production has went up since the GGS became unrestricted.

Regards,

Ed.

I'm afraid Adnauseum, I'm starting to see where you got the name. :) What was your previous one again? That your story continues to have more holes than the average sieve. No I haven't worked offshore but have known many that did, plus got to know some of the AIM CEO's on a first name basis. What I do know though is that those guys usually spend as much time onshore as offshore due to the nature of the work, there's regular crew changes. So internet availability is an hilarious statement. Given all the Nigerian price emails that do the rounds its quite clear that all those countries have had both email and mobile phone availability prior to 2018!

Did your friends really think that COPL was going bust when they acquired Atomic, very few others did. Don't worry how I spend my time, I spend it very well thank you. I do occasionally have to waste some of it on pointless replies though when I do drop in here.

Regards,

Ed.

Ok so as to not bore everyone I'll keep this brief. Its a pity that you found my previous questions snide as they were just direct as we get all sorts on here. We've established that you're not down over 95% nor are your diving buddies, nor are you still down over 90% minimum, most holders will know what % they are up or down.

So your buddies bought in at 60p eqv back in 2018 or 0.6p in old money pre-consolidation. So they sat through all the issues with Essar, the resolution of that dispute, the acquisition of Atomic and then Cuda and at no time they were able to average down? You could pretty much buy as many millions as you liked when the share price was 0.04-0.06p (equivalent of 4-6p post consolidation). How do I know? Well I was one of those doing just that and posted about it on ADVFN at that time. So I really don't need to go back again and research that period of the company. However I find that your buddies who are very well paid as oil and gas divers watched this all occur and coundn't top up over 5 years, a bit too Tolkienesque I'm afraid given what has happened over that period.

So who where you before your current account, a fish a hodler or a precious metal? :)

Regards,

Ed.

P.S as a long term investor based on fundamentals I sure will focus on all of the assets, their production and reserves.