Member Info for Intothedeep

Oiler87 ... yet more BS from you .... "90 days is over this weekend, if no term sheet this week then its clear copl will be using a senior loan with equity."

There is nothing to say they have to complete the RBL in 90 days .... in fact there is nothing to say they have to have an RBL ... they could stay with what they have got ... this is a restructure, its not mandatory.

Not sure if its Monday or Tuesday but the 90 days moratorium on equity issuance is up next week.

PLUS the warrants expire for the broker:-

The Company has also granted broker warrants exercisable over 5,895,000 common shares at an exercise price of 16.75 pence per share and expiring 90 days from 26 July 2022.

I don't have level 2, I don't need it as I'm not day trading ... I have live share prices and the freedom to complain to LSE on the carp service :)

Yes I am positive that COPL will come good ... the signs are now clearly there, BUT they need to GET IT DONE.

Art has a bad habit of always looking at the next great thing and not fulfilling on existing promises .... a couple of interviews ago he started talking about looking at more acreage .... I was screaming at the screen NOOOO just get on with what you have !!!

Yes last 2 weeks great .... but its the first 2 weeks out of years of waiting (for some) for positive action.

Its constant 1 step froward 3 steps back ... we might now be at as tentative 1 step forward and hold here for when they tell us the RBL isn't going to be signed this quarter or the JV is still "at a high level" and then we have wasted the whole of the drilling season.

But not to worry because the Jam is still there.

Fish .... you can be dissatisfied and still be invested .... I was married for 6 years and dissatisfied most of that time but I held on hoping things would improve until it was clear they wouldn't :D

I've not been invested here as long as some but even in my short time here (about a year) theres been an annoying lack of sticking to the plans they announce with great pomp ... its not even a jam tomorrow type share, its a "heres a **** ton of Jam worth billions but we need a jar to store it in so we are negotiating with jar suppliers and we'll have that done this quarter" .... quarter goes past ..... we've decided a jar isn't good enough we need a glass tank for jam now and we have employed a company to do a feasability study on how big the tank needs to be .... in the meantime the Jam just sits there ooozzzing away !!

Fish - from the August Presentation (the one about the Ryder Scott report: "Update on Debt Process and Term Sheet Negotiations by end of Q3 – 2022"

and on the call Ryan states "We look forward to updating you on terms by the end of Q3"

Now IF the JV is happening and its that that is shifting the RBL then they should tell us .... but they dont, we are just kept hanging on until the next time Art decides to drop another different piece of news - - they never complete on anything.

Art just throws out a JV in the middle of a presentation - No RNS ?? - most companies would have RNS'd "talks with a JV partner have commenced in regard to our 1 billion Fed Deep discovery.".... so to me this JV approach is months old and Art has thrown it out there to distract from the RBL not being completed.

If they want to get that Rig and start in January then heads of terms needs to get done on a JV this month IMO

Someone pointed out earlier that Art seems to have nicely dropped the JV into the last presentation .... maybe to deflect from again missing a deadline after promising to update the status of the RBL at the end of Q2 (30 Sep) ... and no I don't call "I'd like to get those done by the end of the month" a good status update from him.

Its no wonder the SP is at 15p ..... for weeks theres been a lack of volume buying and any selling easily outpacing the buys .... the only way this changes is ART starts sticking to deadlines and starts giving solid results

Production increases
Tie in the 2 wells that they have been saying they were going to do for months now
Gas gathering upgrades - yes so get on with it - what have they been doing the last 9 months
RBL - its a 2022 critical objective - get it done Ryan, what are we paying him $400k for?
JV - don't string us along for the next 3 months, tell us who and how much or shut up about it

Too many times has he stated this plan or that plan for it not to happen

Occidental - interesting so they have committed 140million for 31 wells already and they only started drilling last month.

Also timing - Salt creek announced the JV in Feb and started drilling in Sept. COPL haven't officially announced yet but expect to drill January .... well they need to drill something this season !!!

oops the 2200 barrel line hasn't copied right , should say
Barrels: Cole Creek 4,246 (100%=4,246) , BF 63,954 (85% = 54,361)

Tiburn I dont understand your Net Revenue figures.
for August I have

Barrels: Cole Creek 4,246 (100%=4,246) , BF 41,920 (85% = 35,632)
Revenue: hedged (31days x 1000 x $57) = $1,767,000; unhedged (8,878 at $90) = $799,020. TOTAL $2,566,020

So at 2200 bopd (say 31 days again)
Barrels: Cole Creek 4,246 (100%=4,246) , BF 41,920 (85% = 35,632)
Revenue: hedged (31days x 1000 x $57) = $1,767,000; unhedged (827,607 at $90) = $2,484,621. TOTAL $4,251,621

Those Gregario mugs are the ones that you can only fill to half way :D

How much are the Arthur Mugs ? :D

Whilst we await yet more company changing news that will actually positively affect the share price ;)

Anyone know how long the oil hedge has left to run? At current oil prices we look to be losing about $1m per month so I can see why they are looking at buying it out for $10m but it all assumes oil will remain above were it is now for at least a year and that the new hedge they need for the RBL is on good terms

Ironsnipe .... you on the pump and dump story again .... have a the rampers gone then ? Who are they, please list them.

Pumped all the way to 16.50p ... wow heady heights that, the rampers must be making a killing

16 of the 126 bonds converted, thats aporox 16m shares. You need 8m shares for 3% and a TR1.

Dont assume that all 16m converted was 1 BH though. There was a "group" of BH's, we only know the main one; who's to say how many minor BH's took up the remaining 42 bonds

Primary is usually 5-10%, secondary 40-60%. We are straight into secondary on BFSU (as one of the WOGCC commissioners yesterday "never seen a company go straight to secondary, I commend you on your success")

BIG NB: The 1 bill Ryder report and subsequent Art when asked what recover he said 4 - 8% - THATS PRIMARY. In the interview about the JV and Fed Deep he said we will go straight to secondary - so they will MF the field - 16 wells permitted for next year at 5000-10000 barrels per month !!! Total possible wells 150.

the RBL is to replace the senior debt of $42.1m with a true loan on much better terms. PLUS provide funds for ??? Continued BFSU gas gathering, Fed deep drills, pay down existing hedge ($10m)

They did also mention a junior debt tranche (similar structure to senior RBL) for Capex.

RBL $50-$60m ..... although I suspect the whole JV has meant rethinking the RBL, especially if a big major is coming on and financing a chunk of Fed Deep.... and dare I say taking an equity position in COPL ?

There are no holders over 3% .... this is why we are so liquid and MM's can control so easily

The JV should change all that .... if its Exxon I'd expect ii's to start piling in.

Iron - get your numbers right its not 2m per bond its $200k and 999,500 shares. They have converted 16 parcels of the 126 so that's 15,992,002 shares. 16 parcels in August 2 in Sept.

Stop telling people to read the RNS's and go read them yourself !!!