Member Info for jimtheknow

Part 2

https://www.forbes.com/sites/ianpalmer/2021/01/18/the-risks-and-rewards-of-a-massive-fracking-campaign-planned-for-the-powder-river-basin-of-wyoming/?sh=1ae9ed446588

An old (Jan '21) but otherwise informative and relevant article on the PRB. It may be a good precursor for some prior to the companies presentation on Monday.

https://www.forbes.com/sites/ianpalmer/2021/01/14/feds-approve-plan-to-drill-and-frack-5000-new-oil-wells-in-the-powder-river-basin-of-wyoming/?sh=342aa1206bb6

Post release of RS report what are peoples thoughts on what the market will assign to the price per barrel of undeveloped, recoverable oil in the ground?

PANR's MC suggests the market have assigned a price of between 40 - 50p per bbl for their untapped recoverable resource.

LNG

c. 90 million of potentially recoverable, that’s without any EOR techniques.

Why do you say PANR have no oil when the company state they 23 billion bbls of OIP with 2.3bn bbls recoverable?

As many others may be i'm not exactly sure what COPL are stating in this RNS and a part of me thinks it can't be as poor as it first appears.

Does anyone know what it means by being unhedged from Q3? Will all production be unhedged from Q3 or are they just able to take advantage of the 'new' CUDA production element? Not a bad thing if this allows COPL to now exit all their hedges.

I think a good discussion point is raised here by PI73 and also touched on by others.

From very early in the Atomic purchase it was clear COPL would like to have acquired the working interests of other parties and if you have a long term vision for your company as AM has, you are the operator of the assets as AM is, you have tools at your disposal to help you obtain those working interests. I would say nothing that has happened here over the last year is by chance, it is likely by design.

That has been an often unpleasant and bumpy journey for many a PI, but the ends often justify the means.

The transformational change in SP here will only come when there is a viable plan to return money back to investors and with assets in their infancy thst isn’t going to be a quick journey. But 2 years ago this company was literally looking over the cliff edge and now it feels it has an almost immovable solid base with the threat of failing astronomically reduced.

This base may not be the most perfect and lucrative base but who cares if it allows it to continue indefinitely as a going concern with all the promise of a 40 year life in improving oil markets?

Why would any company in the position COPL is in now, that being in the final throes of completing one of its key annual objectives, publish any new news good or bad that it’s not obliged to? Surely the sensible and correct thing is to do is allow a process to complete under the status quo? While there is still the possibility for the objective to be derailed, however slim that may be, a company is highly likely to sit on its hands I would think.

So until the CUDA deal is watertight there’ll be no RS report, no RBL news, no final details on permits, rigs & drilling…. nothing. IMHO

Not long to wait though I’d say.

Todays RNS is obviously excellent news and hopefully the start of much more to come.

Taking on board some of the grumblings around todays fantastic RNS is the problem that these, at present, are only AM's words which unfortunately the markets approach with a little bit of scepticism (AM's own fault) and what is really needed is for todays announcement to be cemented by a CPR or maybe an (Canadian) NI 51-101? Do we think one of these will come and is an NI-51-101 mandated by the Canadian markets? Todays announcement is materially significant if correct and any updating of CPR type documents seems appropriate. If one comes then that feels like the time when a serious and lasting rerate will occur?

And if even the tiniest of dividends appears on the distant horizon, as indicated by AM in an interview at the time of the Atomic takeover, then those (multi) GBP days will become a reality.

Very well done to those that have persevered ;-) here, good luck to you all.

...it's Thursday tomorrow and we only get news from BPC on a Thursday morning ;-)

Eyes peeled for 7am.

...but in non-commercial volumes.

https://oilprice.com/Energy/Crude-Oil/Big-Oils-Hottest-Prospects-In-2021.html

...the day for settling debts.

Yes I did note it was declared a Discovery with net pays given.

This makes an interesting read.

https://www.offshore-energy.biz/total-stops-drilling-suriname-well-before-reaching-deeper-targets/?fbclid=IwAR2YRK15zhqZjdhe4Po54B0lBThAzudIJUr-uUJqKiNhsBB-AsbQWKe8ewU

If they ever release the volume of uncommercial oil i'm plumping for 80m.

It should also be remembered in any discussion on P#1 that the lower formations, the ones which were not drilled, were very different in nature and were High Pressure. Drilling deeper carried an increase in risk.

The men who drilled P#1 were 'oil men', not your average PI's who spout off on a free BB and grumble about share prices. These men will have seen what they needed to see and in their experience were comfortable with what they saw to TD the well when they did and not go for the higher risk zones on a drill that had enormous environmental scrutiny and where even the tiniest of mistakes would have likely shut exploration down in the whole basin forever, never to be repeated again.

A working hydrocarbon system has been declared with information obtained that provides insight and derisks other targets. We need to wait for the full report on P#1. There could be a significant quantity of oil there, just not enough to justify field development on its own, we simply don't know. Find 200m barrels at another target and everything flips on it's head. We were told April/May before the drill for full results so we simply have to continue to play the old BPC game - wait in silence.

Stop crying everyone and grow a pair.

You don't need to bother moving your holding into a tax efficient scheme if you know you're going to incur a loss.

Irene, good to see we are still on the same page about many things, i told Starchildish he'd never stop positing narcissistic dribble as long as i have a hole in my @rse and sure enough, i still have a hole in my @rse.

Good to read the other day you are positive on the P1 drill and that you think there's a chance of a commercial find.

P.S. shame (for a charity) you didn't take my bet on.

Is the word on the street the local fishermen have seen the flare boom on the IceMAX going full tilt? ;-)