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If the funds don’t land …. We have Directors earning zero lol. They’ve already missed their first deadline and failed to communicate outcome / early progress of GGS (And they will absolutely know this). The SP could only go down on this uncertainty created by the interim owners.

No need to worry about Administration according to Stas. We would be well taken care of. NOT.

Be Testing my Average soon !! The holding back of the $3.5m from Anavio will continue to deteriorate the SP because it casts material uncertainty re going concern. We have a new BOD now and are heavily dependant on Anavio jumping on board with Equity and thus giving confidence to Market. If they fail to come on board then it’s a double loss imo. Critical moment next few days.

At the end of the day Copl have a billion barrels and a bit more Verified. So it’s up to the new BOD to prove to Market that they can get the oil out. And to do so in a way that would be cost effective and thus appreciate the SP. Simples.

The Equity Market did not stop Art from obtaining an RBL despite all those Reserves. So we need a kick start to get the oil pumping and prove up the economics. If we can do this then we can re visit RBL, and maybe this is why JV signature taking so long. Because as you release the potential / everybody wants their fair share.

Panama. The only group placed to take over Copl is those behind Anavio. A 9% Equity Share plus Warrants plus Bonds.

Here’s saying a Big thumbs up to JV late Q1 !!

The thought has crossed my mind. However if someone wanted to accumulate 10% of the Company / I suggest it may cost more than 4p due to demand. Remains to be seen if they honour the 4p but RNS did state Funds committed dependant on Senior a lender Waiver re non specific item / performance criteria I presume ?

The BOD will no doubt want to include some performance data in conjunction with committed funds (If they occur). It is quite Pivotal if the $3.5m comes because then it changes the whole dynamic of the Bonds Anavio hold.

Wouldn’t like to comment on that but Oxford Bio up 44% today. Following the Market behaviour on that one !

Has Anavio delayed the Financing 5 days because the GGS needs that time to finalise results and confidence re performance ? Any field with Gas injection takes 4 weeks to settle. GGS clearly being used to de risk Cole Creek JV so 3 ducks in a line ??

If Finance completes / means Anavio happy with GGS / means CC Project de risked ?? And remember they’re paying 4p for 9/10%. If it completes it is a Green light imo.

As per Arts Final RNS :-

“The company that has entered into the LOI with us is the best partner we could have of the ones we have considered. Our Company brings considerable experience and understanding of Cole Creek, including operating the early stage enriched gas miscible EOR project at the neighboring Barron Flats Shannon Unit. This EOR experience can be directly applied to Cole Creek as they have many similar reservoir characteristics”.

$3.5m Equity is Pivotal. Clearly.

Yeah it’s not like they have to pay the Directors anything at the minute is it ?? Steady she goes..

100% Agree.

And if they’re going to double production from the BFU. We know they’ll need double Tanker capacity. It doesn’t just happen on a whim. It’s all planned.

I wish I did. Fact of the matter is those Tankers will dictate OCT production expectation. And they must already be booked in. So it’s not like the BOD don’t know. Simples.

Exactly Johnny. And it takes 4 weeks thereafter for the field to settle down. We just need to know from the BOD that they’re satisfied the Injection Strategy will reap previous guidance ie Peak production. This will remove doubt.

Cowan on the phone …

“Hi yes, err can you send me 3 more Tankers please”.

It’s all planned in advance.

Each Tanker carries about 180-200 barrels. Be good to know how many Tankers sanctioned on site for OCT.

Either way OCT production (ie : Right Now !!) must be known by the BOD. ie : More Tanker Lorries requested !!! ‘Cos it doesn’t Transport itself !! So C’mon BOD / Give us some taster that your happy with the GGS and that Gas Injection Strategy performing to Expectation…

They know the info. It is Significant material info. Now release it to the Market next 7 days. This alone would not require any notification on current Production because we would know.

How many Tankers scheduled to arrive on site in OCT ????

Stas. When you start Gas injection it the results are not instant. It can take up to 4 weeks for the field to settle down. I’m not convinced SEP Production will be spectacular. OCT yes. If you believe SEP will fly then the BOD will have given some indicator of this surely ??

· The Company's Reservoir Engineer and its specialist reservoir engineering firm are developing a revised miscible injection strategy for commencement late in the third quarter.

I take that anytime as late as Final week in SEP. Also / The extra $3.5m may be (I stress may be) needed before they can sanction purchase of any gas to inject.

Which again is why I am saying it would be desirable for Cowan to announce the injection strategy is fully functioning. He has not yet. So why do peeps think SEP Production is tickerty boo ??

I’ll check the RNS Stas because I always believed injection strategy late SEP.

Previous RNS was clear and from Art. Injection Strategy to begin late SEP. So I do not expect SEP Production to e much better. I’ve stated on here only early DEC will we know OCT Production and OCT must be first noticeable month on upward trend. Hence why I believe it absolutely incumbent on Cowan to communicate result on Gas injection strategy and whether they are satisfied / in the next RNS should / when the $3.5m lands end of this week. Important.