Member Info for Intothedeep

OurJambo - is tha a serious question re the RBL. This is what they have been "negotiating" for almost a year now with a number of banks. They now say its waiting for the 2022 accounts to complete which should have the updated reserve/resources numbers in it. But then we had that excuse with last years Ryder Scott report and prior to that the Cuda deal.

9 days left before he has to think of another excuse for missing another date.

Has he just kicked the can down the road yet again on the RBL then ....

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

considering he expected to complete the JV by the end of October last year, how much breathing space does he need ??

thought you said USA was going to take us up this afternoon?

Arthur Millholland, President & CEO, commented:

"This is an important raise for COPL. After some bumpy months operationally, and in our refinancing negotiations, this raise supports the company to an intended RBL and for the capital investment required to achieve a material production uplift. We appreciate the support of our leading investors and are excited about the deployment of this capital."

What more do you want him to say ???

Expect an RNS this week once the bonds concludes today, reversing the going concern statement.

nope

Is there not a Mara BB ... probably lose 90% of the posters on here if there was !!!!

Not helping Arb - down 16% since yesterday morning, BTC at same level.

cant believe this is only 6% up with BTC at 26k ... risen 40% since Friday

did he just say we are currently at 1700-1800 bopd ???

ARB was 16p at 25k not 20p 16th to 21st Feb last time BTC was at 25k

that being said ARB is now seems in a more stable position than it was a few weeks ago

Some people really not understanding whats going on here.

They wont get an RBL signed until the covenant issue is resolved - no new lender is going to sign up while this is happening.

The cornerstone BH seems to have run out of patience (I said this was coming) ... the Tap facility aint a bottomless pit of money that Art thinks he can just keep dipping into when he wants to. I've no doubt the BH will take another slice but at what price is it going to be. The BH will likely own nearly half the company after this next round.

The JV ... gone very quiet hasn't it ? Why would art think he could get this signed last OCTOBER !! Just shows how overconfident he is in his own ability. I've no doubt it will happen once the finance side gets sorted, but I don't think its going to be this massive cash upfront deal that many believe it to be.

I am as ever hopeful this is all going to work out; sat on a lot of shares with currently a small loss .... after a few months of being "strapped in" really needed the loo and the straps started chafing

Bitty up nearly 20% since Friday and yet ARB actually falling now only 4% up ???

Looks like theres a clear move to push BTC to its 21500 support. the drop caused primarily by silvergate should not have had such a big effect and been short term, but the change in Fed stance on raising rates higher than expected seems to be perpetuating the pull back.

Any bounce off of supports may be some way off

John1970, 1970John, 19John70, 70John19, d1khdJohn, Johnthepratt, getalifeJohn, nastyJohn,Jophnhasherpes, Johnsmalld1kk

Jan 32400
Feb 36000
Current 42000. Add back the shutins, future = 49200. Still not much to look fwd to considering all the work done on flaring, gas tie ins, dewaxing but its enough to be casflow pos @ unhedged

"millions dumped this morning" .... errr where .... have you got your decimal point in the wrong place ?

MD248 ... I will join you on deck with my violin, we shall keep playing until the ship goes down ... its been an honour :)

Dropped 500 points in last 10 mins

Theres always an "update" statement at the end of the Qtr results .... need to check if the wording direction has changed since the last RNS 1st Feb