Member Info for gastogo

Hi Bolton.... long time no hear mate. Hope you are well...... Dito buddy.... watching my pennies now.. lol.... we live and learn... but never say never...

BpD needs to fire the CFO also !!!!!................ Clown

I thought they were going to provide more details as to why the JV fell through....................... !!

Bored beyond words. Better off when we were suspended. Clearly with lack of any news, the BOD will milk us dry to the end before they turn the lights off. Like all looks like we will have to suck it up, accept our loses and move on....

Bolton, our time is almost upon us... Have a great weekend mate.

Hi Bolton, how the devil are you? Long time no hear. Hope all well with you and yours..... stilling hanging on in there... LOL

Bolton, Amen to that, those 4 letters on my keyboard are wearing away.......... and that's my 2nd laptop lol.

Hi Bolton, all good thanks buddy, bored beyond belief.... but may as well hang on in silly not to. Hope all is well with you?

Come on AM give us some news...... patience is a virtue....... but 3 and half years !!! GLA

Morning Bolton, yes mate still here in the shadows. Ditto beyond bothering so much now check in from time to time. Shame all the years we have been waiting and still waiting...... LOL

Come on AM give us some news to get our teeth into. GLA

I was more happy when we were suspended LOL....... anyway onwards and upwards

It felt better when we were suspended !!!

Lets hope so Bolton, getting somewhat bored now after all these years. GLA

Lets hope so Bolton mate............. Hope all well with you? Cheers

Costless Hedge Restructuring and Corporate Update

Monday would be great, but educated guess would be in early Jan 2023....... FCA aren't exactly the quickest body to work with. GLA light at the end of the tunnel .

Dear All, my sincere apologies......... been a long day

Six wells have currently been identified for recompletion in the Frontier 1 at Cole Creek offering a near term low-risk opportunity to materially increase oil production and reserves. The Company is in the process of lining up fracture services to re-complete the first of the six wells. While the Company hopes to secure all of the services required for December operations, the tight oilfield services market may cause field operations to be initiated in January.

· Due diligence and discussions continue with respect to a possible Joint Venture on the Company's deep oil discovery by a large oil company which approached COPL's COPL America Inc affiliate. The Company will provide an update at the appropriate time. The Company is encouraged by the progress to date.

The operating netback was $38.26/bbl, before the net realized gain on crude oil and butane commodities contracts as compared to $55.72/bbl, in the second quarter of 2022. The decrease is due mainly to the reduction in WTI from $108.41/bbl in the second quarter of 2022 as compared to $91.56/bbl in the third quarter of 2022.

· A cash position of $5.7 million as at September 30, 2022 as compared to $7.8 million as at December 31, 2021.

The financial results and associated regulatory filing documents, including the Financial Statements and the Management's Discussion and Analysis for the third quarter ending September 30, 2022, can be viewed on the Company's website at https://www.canoverseas.com/annual-reports/ and under the Company's profile at www.sedar.com. The Company encourages interested parties to read the Management's Discussion and Analysis along with the Financial Statements and accompanying notes.



Progressing Debt Financing



The Company is pleased to be evaluating debt facilities with multiple US and International Banks to secure a term sheet to refinance COPL America's US$42 million Senior Credit Facility and close the outstanding hedges, which run to February 2024, currently estimated to cost US$11 million. A term sheet from a bank is the first step in the process and COPL and its advisers are focused on securing terms that provide increased operating flexibility and improved cost of capital. The Company looks forward to providing updates on this process.



Operations Update



The Company continues to make progress in its Wyoming operations as outlined in its November 1, 2022 Operations Update.

· The re-simulation of miscible flood at Barron Flats is progressing and should be completed by the end of the month to early December. The objectives of the re-simulation are to plan for the resumption of enriched gas injection at the field in 2023 by targeting the western injection patterns which are currently under injected in addition to providing an updated reservoir model to more accurately forecast future field production volumes. The new simulation appears to be able to match production responses observed in certain high-pressure wells as well as further outline possible high pressure/productive trends observed in the field.

· Flaring gas has commenced at Barron Flats with production from restricted wells continues to be brought up incrementally post approval of the flaring permit on October 11. Oil production increases are slowly increasing as the process proceeds. Flowing wells have exhibited additional paraffin plugging issues through the process which require higher frequency condensate treatments and more incremental drops to flowing production pressures.

· Six wells have currently been identified for recompletion in the Frontier 1 at Cole Creek offering a near term low-risk opportunity to materially increase oil production and reserves. The Company is in the process of lining up fracture se