Member Info for Intothedeep

BTC goes up ARB falls (from 22k to 30k, ARB falls to below 12p.
BTC falls ARB falls
BTC goes sideways ARB falls

Theres a theme but I can't quite put my finger on it !

where has the 50m conversion gone to .... theres the 20m from the TR1 the other day, but that leaves 30mill ... not telling me the volume has been high enough to clear those through the last few weeks. Expect a TR1..... although not any time soon

looks they are out of minor BH stock then.
No conversion RNS's lately seems to be that the last dreggs of minor NH conversions has stopped

Selfishly hoping the SP stays around here so I can drop the whole of my 2023/24 ISA allowance into here next week

For those moaning that there was no ops update on production ... we had one on the 1st of March if you remember

2023 Production Summary

· January: 1,080 bbl./d average
· February: 1,200 bbl./d average
· Current: 1,400 bbl./d

the 1200 for Feb equates to the official figures we had 35,700 ... so at 1400 to 1700 (per flaring) for March looking at approx 47,000 for March

Ourjambo - Im not going to argue with you because you are wrong. the new bonds are not resolving the Senior Debt. The new RBL will do and this is what they have been working with BANKS not Bondholders for the last 10 months. The new bonds just issued are instead of the "junior debt tranche" that they mentioned a few months ago that were to pay for the Gas pipe work - which was always scheduled for this year. Go back to the interviews last year were Ryan talked about them borrowing on an RBL of 60m which would comprise of 42m of senior debt and the rest junior debt to pay for capex "because banks like to lend for that sort of thing" is what he said.

Now stop being silly and splitting hairs and trying to tell me the bonds are replacing the senior debt.= of $42m

OurJambo ... you do understand that the SENIOR DEBT FACILITY is NOT the Bonds but the 42mill that they have been renegotiating for almost 12 months now and is the reason they keep breaking debt covenants because they can't afford to pay the interest.

Most of the detailed information for Copl comes through Sedar these days as it did on Friday night. LSE are just the poor cousins now and considering the bashing Art has received for poor comms Im not at all surprised at the lack of nuggets in the RNS today.

Another deadline for RBL missed "1st Feb RNS : The Company is working closely with its professional advisers to negotiate and secure a new senior debt facility, which the Company is targeting to draw down prior to 31 March 2023."

So they took 12m if the 14.8m of the new bonds, wonder what the "new investor" took of the 2.8m left ... would be good to know tgeresnot going to be constant dribble of minor bh conversion as we have seen since last summer

31 days in March so it will be Friday

anyone seen how long its going to take to install the gas gathering - I had 9-12 months in my head, but not sure were I got that from .

Cheers Eazy I had missed he said that .... although as he hasn't hit a single deadline date I'll wait to see for sure ;)

I mean he's only got the "dog ate my year end accounts" excuse left to roll out now

2021 results were released 7am on the 31st March and then an ops update the day after. So we might not get any ops update until Monday 3rd April.....although last years ops update was just a rehash of the results

We need status and timeline for RBL, Production and JV..... in particular the RBL for me as that draws a line under the terrible Senior debt terms we are on.

Trujack thats incorrect. The Working Captial statement in the 1st Feb RNS does not relate to 2022 Financial statements. It was required because its a going concern issue and as the WC is now resolved there is no reason why COPL can't RNS that. Liekly that they are going to wait until the Full year accounts are ready (next week) and just roll it all into A TRADING UPDATE then

why haven't they RNS'd that the going concern issue due to WC shortfall has now been resolved with the new funding - the 1st Feb RNS wording was forced on them by Canadian listing rules so why no countering RNS - the SP dropped 16p to 6p due to the 1st Feb RNS .... only bit of fluffy wording related is hidden away again in the 20th March RNS -

· In conjunction with the G&A commitments outlined below, these measures increase COPL's working capital and afford COPL a solid footing ensuring the best possible outcomes be negotiated for refinancing and joint venture

Feb numbers out soon, they aren't going to be 1700. That was the comment on the flaring hearing last week "currently 1700-1800 bopd" ... March figures hopefully into the 50k pm

Production needs to start showing significant monthly increases ... no more excuses

How is the drop from 16p to 6p on opening after the going concern RNS justified ??

Priced at bankruptcy ..... that day volume was over 40 million...MM's made a killing

wookie its very simple MM's decided to push a massive over reaction from 16p .... they set the price to generate volume. IMO they overdid it and now we are stuck here..... who's to say if we get an RNS (Canadian regs) clearing the going concern flag MM's wouldn't jump it up 50% on opening? ....probably not the right

Difficult to change the gloom on here with yet another "Finances finally sorted now onto the positive news" .... how many times have we been here ???

Well lets try ..... whats the guesses for the next RNS. I personally would want to see the RBL resolved this month..... for me the JV is icing on the cake and may not a. happen, b. be the world class deal everyone hopes for.

Would hope that the new bonds have gone to the cornerstone BH and the "new ii" and not many if any at all to the minority BH's that are just selling back into the market for their 10%.

Once the SP falls to 5.4p they stop selling