It My Be Boom Time for Oil Part 117 Mar 2022 19:56
Good evening everyone,
firstly let me apologise to the board,
I have been very busy lately and although I have been following what's going on I have been distracted by events elsewhere.
But yesterday I noticed a surreptitious attack on Tiburn which was neither justified or warranted.
I have noticed that some have become bogged down and obsessed with the minor details and have maybe forgotten the bigger picture.
There has always been criticism on this board for the poor quality comms transmitted by AM ,
I have also felt this from time to time.
There were posts hinting that the our brothers on the Canadian BB have a more realistic and more accurate view of the prospects of COPL than our board,
I have only looked at some of the entries from there,
and would in no way wish to criticize them,
I do believe that most of the research posted on this board is of merit genuine and factual.
So who turns out to be more accurate only the future will tell.
Firstly lets remember that our sometimes maligned CEO is an OILMAN first and last.
He is clearly not a spin doctor,
but as far as I am concerned when a man like AM puts his money where his mouth is we should take note.
I also would like to draw peoples attention to the fact that the PRB is only relatively young in it's development,
https://jpt.spe.org/it-may-be-boom-time-oil-rich-powder-river-basin
This article is from 2018 but I would urge people to wade through the whole of the article ,
it maybe useful in the understanding of our potential.
I am going to pick a few points out which will maybe quantify our possibilities here ( even if the market has yet to assign any value to them yet ).
Firstly,“What’s unique about the Powder is just the areal extent of some of these zones aren’t the same magnitude as you see in the Permian or the Midcontinent. So zip code really matters,” .
It is possible we are sitting on one of the best Zip codes in the PRB.
Secondly,
Oil and condensate production from the basin is forecast to jump 25,000 B/D this year to 136,000 B/D and continue rising next year above its 2015 high of 144,000 B/D ,
so potential production from our FDU could be higher than the whole production form the PRB in 2018 in time.
Thirdly,
The influx of permits has been part of “a race for operatorship,”
please note that 3 out of the 5 companies in the list above this statement have been taken out by larger companies.
Fourthly,
Federal units allow for the permitting of up to 25,000 acres where little-to-no exploration activity has occurred. It designates a single operator among, in some cases, dozens of partners, removing the need to file permits early and often to secure control of drilling and production work. A unit is challenging to form, mainly because there are often differences of opinion between the partners as to who should operate it.
Remember our possible discovery is called the Federal Deeps Unit.