Perfect timing, I hope. LTA scrapped - for anyone heavily invested here in a SIPP or similar. Once true value is realised the LTA being scrapped should really help those who have taken the risks. GLA...
News soon.
I do not see how we can RBL against our assets if the JV partner wants a share of the whole field. We can RBL on CC and JV share Deep discovery, but the RBL based on our reserves would surely not permit giving 50% or more to Exxon?
I got the impression they are looking to raise cash from the ASX listing. SD comments it is just a compliance listing but they are looking at the option of increasing liquidity. IMO.
Very rough numbers but shows $1M for 1M barrels? COPL have circa 1B barrels. Ergo $1B give or take a few $$. I am sure more accurate calcs are possible and Art wants way more than $1 barrel.
Twitter post by TW against COPL as usual, Art asks for it with his lack of coms, IMO. He could have RNS'd a new spud, perforation news, anything, but instead remains silent, releasing Sedar news not Shared here. Main market listed, FSA should be observing his releases and forcing an update here too
Maybe discussed before, but the Oil Search deal in 2017/18 with Armstrong is similar to our current position, IMO. 1.5B barrel discovery onshore Alaska. $400M for 50% plus a further $450M 18 month later for 100% interest. Conoco and Santos/OS currently fighting over road access.
COPL have easy access, current production, and EOR options. I would expect larger payments from Exxon for %ages of our assetts.
I notice the secretary Tyler Nelson can be messaged via Linked In if you hold a Premium account? Not that I hold one. Maybe someone can reach out to him?
Google showing 6% rise. Maybe only spread etc? Or awesome news due on Uranium...
The RNS reads to me as though the 2024 bonds have been reset lower? As only 2025 repeatedly mentioned, also that the majority of 2025 holders agreed, not all? I broke even yesterday, so now slightly down awaiting big ticket news.
Apologies, not COPL site, CSE site for copl form 7. I have a download from yesterday.
https://thecse.com/en/listings/oil-and-gas/canadian-overseas-petroleum-limited
Under CSE filings.
Beesty,
On 2nd Dec the company reported the Nov monthly report, stating no JV currently agreed, it does not allow for forward looking statements regards possible future outcomes. Located on the copl website. I did not see it noted here but may have missed it if reported by others.
AM has said comms will be better and yet again failed us in this regard, IMO. Do the PR/IR team need replacing, maybe, but that still falls at his feet to arrange.
Is the CR a bad sign for upcoming drill results? If they expect great results, raise after them...if poor raise now...
...only my opinion, still holding long term.
Some good positives in there:
JV, 6 work overs at CC, refinancing ongoing etc.
Some negatives,IMO:
Don't expect high production increases yet, not one mention of 'RBL', only refinancing? I hope 'RBL' is specifically written in the RNS update tomorrow.