Member Info for LiveLongnProsper

Merrill Lynch International (as notified by Bank of America Corporation) holding 6.5% in shares and 10.6% in other ‘financial instruments’, total 17.1% - RNS 31/8/23.

Standard Latitude Master Fund Ltd now increased to 10.1% holding via ‘financial instruments’ – RNS today.

Being lined up for a bid?

A bit of analysis.

Top 6 producing wells …

BFU 34-20V, 4486, down -409 on June (did 5745 in May)

BFU 32-27V, 3465, up 66 on June

BFU Fed 11-22V, 3523, down -26 on June, 2 days lost

BFU 44-22V, 2799, up 835 on June, 6 more days

BFU FED 32-21V, 2381 up 143 on June, 2 days lost

BFU 44-21V, 2244, up 272 on June, 3 days lost

All above have been flaring.

Another 6 over 1000 barrels.

2 (temporary?) ‘losers’ of note …

BFU 21-35-76 ST A SN 3H, 1295, down -1076 on June, 15 days lost (did 4325 in Dec 22)

BFU 23-27V, 1295 (yes, same as above), down -730 on June, 11 days lost (did 4347 in Dec 22)

Biggest improver …

BFU FEDERAL 41-34H, 1576, up 1176 on June, 5 more days

Of interest ..?

COLE CREEK 11-27 (re-completion), only 2 barrels (!) in 5 days, but now reporting FRONTIER (not FRONTIER-2)

Total of detail for July is 37831 vs 37364 on summary, as per @Chuggley1 the difference is 467 from 4-27 (the other re-completion)

Great job to maintain production at June levels with GGS install during July.

Significant potential to be realised in the coming months.

GLA

37364

More-or-less the same as June.

Analysis tomorrow.

GLA

Updated ..?

https://www.fredhutch.org/en/research/clinical-trials/trial/a_study_evaluating_the_safety_pharmacokinetics_and_early_efficac.html

Probably nothing, but last time I looked the AVA6000 trial at Fred Hutch was ‘recruiting’. Above Web page has changed recently.

Trial is still listed under Lee D. Cranmer, MD, PhD, FACP …

https://www.fredhutch.org/en/faculty-lab-directory/cranmer-lee.html

GLA

@TIA1 mentioned ‘Project Bison’ …

https://www.eenews.net/articles/project-bison-a-large-carbon-removal-proposal-faces-delays/

While the scale and ambition is immense (direct air capture (DAC) of CO2 for usage or permanent storage), it seems to be running late.

“The exact site would be within about 15 miles of three Class VI carbon storage wells that Frontier is planning to build”, planned for Sweetwater County, just SW of Natrona and Converse. (Frontier Carbon Solutions LLC being the company slated to transport and store the CO2).

Planning to ‘ramp up’ for 2030, perhaps they should look a bit further NE for suitable storage capacity that should become available as oil is extracted by a certain co. over that timeframe?

A lot going on in Wyoming.

GLA

The LOI should state the intentions of the parties.

The LOI should grant a period of ‘exclusivity’ in contract negotiations.

The LOI should state what is going to be done, by whom, over what timescale, and who pays.

The LOI should be the precursor to full legal contracts.

The LOI should allow both parties to exit on ‘good’ terms without achieving the original intent.

However, the LOI may be quite ‘tightly’ drawn so as to constrain external communication and limit participation in commercial discussions internally.

I expect the potential JV partner will have very good lawyers who have done this kind of thing many times before.

Ergo, expect only the minimum required communication from COPL until this is concluded one way or another. The last RNS being a good example – statutory stuff, plus ‘we did the GGS on time and under budget’, ‘just like we said we would’.

In the meantime the company gets on with ‘doing it’s business’ – short-term focus clearly stated under ‘Outlook’ on page 6 of the latest MD&A.

AM will want a (legacy making) good deal.

All y’all have a great day.

We are 10th for oil in both Converse and Natrona …

From WOGCC - Top 10 Oil Producers by Operator (report date 08/16/23 – MDY)

Converse County

Company Oil Bbls Gas Mcf Water Bbls

ANSCHUTZ EXPLORATION CORPORATION 4,336,853 5,960,981 3,838,456

CONTINENTAL RESOURCES INC 3,909,554 15,694,351 3,968,923

DEVON ENERGY PRODUCTION COMPANY LP 3,294,483 5,103,411 2,232,477

ANADARKO E&P ONSHORE LLC 1,916,084 6,792,128 1,041,886

EOG RESOURCES INC 967,399 5,395,510 846,290

IMPACT EXPLORATION & PRODUCTION LLC 784,704 1,641,856 662,544

NORTHWOODS OPERATING LLC 673,651 1,992,261 424,853

WRC ENERGY LLC 646,041 1,576,473 275,855

ROCKIES RESOURCES HOLDINGS LLC 541,637 408,422 356,147

SOUTHWESTERN PRODUCTION CORPORATION 212,368 449,987 40,005

Natrona County

CONTANGO RESOURCES LLC 1,534,899 4,078 20,738,400

DENBURY ONSHORE LLC 237,836 0 3,758,013

CITATION OIL & GAS CORPORATION 98,987 36,383 16,912,855

GREEN RESERVE ENERGY HOLDINGS LLC 72,309 20,265 2,446,639

SPELLBOUND ENERGY LLC 43,779 0 144,538

BLACK BEAR OIL CORPORATION 32,522 26,062 1,853,726

ARNELL OIL COMPANY 17,176 0 98,148

AETHON ENERGY OPERATING LLC 10,552 1,116,273 1,163,358

BEREN CORPORATION 9,902 0 993,706

SOUTHWESTERN PRODUCTION CORPORATION 9,557 4,777 27,068

MD&A page 6 (short-term focus) – “negotiating a possible joint venture with a large oil company with operations in Wyoming to appraise and develop the Company's deep oil discovery”.

Additional info – Exxon are one of largest gas producers in Wyoming, XTO (Exxon subsidiary, La Barge Wy) producing small amounts of oil in Lincoln, Sublette and Sweetwater counties just west of Natrona.

Also see the start of year ‘Oil & Natural Gas Resources in Wyoming’ from WOGCC …

https://www.wsgs.wyo.gov/products/wsgs-2023-OG-summary.pdf

Now surely Exxon would like to be no.1 oil producer, gas producer and CO2 ‘storer’?

GLA

Just to add …

Radioligands really do need to be highly targeted. The alpha, beta or gamma emissions from the radio isotopes being ‘transported’ through the body are not neutralised by the ligand molecule, the radiation just keeps on being emitted and so risks tissue, cell, DNA damage etc. You can’t turn the radiation off – unlike the inert state of ‘transported’ chemotherapy (Prodoxorubicin) with AVA6000. Obviously using the available (short) half-life in the TME (only) is going to be a huge breakthrough. Point will massively benefit from AVA6000 success. Expect a push on CanSeek when p1a results published.

GLA

I guess it’s the Jul 27 2023 blue stamp that’s attracted the interest?

Is it just a date of ‘filing’ or has the record been updated with something of substance (the test date being 1/3/2023 – note MDY)?

Anyway, just a small observation, this was about Frontier-1 (original target Frontier-2).

Looks to me like Frontier-1 is 168’ (6938’ to 7098’) vs Frontier-2 6’ (7304’ to 7310’).

A simple interpretation would say that’s (a lot) better? Drilling expert guys please help.

GLA

While we wait …

BFU production June 2023 = 34804 from 33 wells, 30 producing. Constrained by ‘pipework’, waxing, etc. We wait for news on the GGS upgrade and a view on July production.

CC production June 2023 = 2367 from 18 wells, 5 producing. We wait for news on the JV and re-completions.

As for the ‘discovery’, remember …

“As previously disclosed the oil discovery is a combined structural-stratigraphic trap In the Dakota, Frontier 2 and Frontier 1 Formations extending from the Cole Creek anticline at the Company’s 100% WI operated Cole Creek Unit (“CCU”) to the 85% WI operated Barron Flats Federal (Deep) Unit (“BFFDU”).”

How big is it? How much more has been done between COPL and JVCo to quantify the overall resource? What about the horizontals, etc.?

How much oil can we extract and how much CO2 can we store?

What does the JV bring to COPL, in addition to Capex for field development, for example – cash to pay off senior debt / bonds?

How will the JV be structured - will they take an equity stake?

So much news to come. (Pictures, even an updated presentation, even an AM interview, would be good!).

GLA

2.5m another SINT trade. SINT - 'Systematic Internaliser' (II) dealing on own account. Price agreed between clients of II.

Again, just for info.

GLA

4.5m was a SINT trade – so II dealing on own account.

2023-08-07T11:37:04+01:00 GBp 4.7 4500000 21,150,000 Off-book SINT

Just for info.

GLA

Deutche Rohstoff latest presentation possibly worth a read (nice pictures, maps, etc.!) …

https://rohstoff.de/wp-content/uploads/2023/07/2023-06-29_HV-Praesentation_FINAL_online_eng.pdf

They have 60,000 acres in the PRB.

Their subsidiary Bright Rock Energy is ‘next door’ to us (another one, 1876 Resources, not far away).

Note – EOG, Devon, OXY, Continental, also in the vicinity. (Plus XTO, owned by Exxon, a bit further to the West).

Wouldn’t surprise me if DR, as a growth / acquisition / partnership focused company, haven’t been ‘sniffing around’.

Now, are Exxon going to let a prize like COPL ‘slip through the net’?

GLA

Great summary Edgein.

Just to add - Oil price approaching $82, Saudi's tightening supply, our oil mainland USA.

Also, JV is going to be very interested in the massive CO2 Carbon Capture and Storage opportunity.

GLA

Https://webfiles.thecse.com/07_CSE_Form_7_-_Monthly_Progress_Report_-_July_2023.pdf?fkcyKTIcSZvyC7e9nxv8reLAafsorPna

July Report vs June (nothing we don’t already know) ...

5 “On July 24, 2023, the Issuer announced, that its COPL America Inc affiliate has

signed a Non-Binding Letter of Intent for a Joint Venture with an established energy

company to develop and exploit its oil reserves and resources at its Cole Creek

project in Converse and Natrona Counties Wyoming.

For more details, please refer to July 24, 2023 press release.”

14 Bond conversion shares.

Next news – July production and GGS update? JV to land anytime?

GLA

Pre-clinical ongoing. “As the scientists continue to investigate the foundational mechanisms that make this cancer-stopping pill work in animal models …”

https://www.prnewswire.com/news-releases/city-of-hope-scientists-develop-targeted-chemotherapy-able-to-kill-all-solid-tumors-in-preclinical-research-301888576.html

But also – “they note that there is an ongoing Phase 1 clinical trial testing the City of Hope-developed therapeutic in humans.”

https://www.cityofhope.org/cancer-center-announces-first-patient-has-received-city-hopes-novel-potentially-cancer-stopping

Estimated study completion date – March 2024 …

https://classic.clinicaltrials.gov/ct2/show/NCT05227326

But a new treatment, and one that interacts with DNA. Not a targeted delivery of a tried and tested chemotherapy – at higher dose, direct to the TME, and with significantly reduced side effects.

GLA

Just to add to @Tiburn’s excellent post …

The JV (at present) is focused on CC – it’s not about current production, it’s about future production and (seems likely) CCUS.

CC production June 2023 = 2367 from 18 wells, 5 producing.

BFU production June 2023 = 34804 from 33 wells, 30 producing.

(709 from FEDERAL 12-26 gives the 37880 June total).

We are very well placed in both the short-term and more strategically.

We have BFU production, and BFU production that will increase substantially with GGS etc. We will therefore soon be cash positive (independent of any JV deal).

And going through right now (hopefully) we have the JV with a partner who must be very, very confident of the Resource / Reserves / Production potential and the CO2 storage available from CC.

GLA

No, not Shasqi.

https://www.bbc.co.uk/iplayer/episode/m001pbj5/click-a-collision-of-science-and-fiction

BBC Click (29/07/23) about CERN leading to Proton Beam Therapy leading to targeted Cancer Therapy. From about 08:20 they say … “they attach it [radio nucleotide] to specially engineered molecules that you can inject into the body and which will only stick to cancer cells” – radioactive beacon to illuminate for targeting (PETI). Then goes on to say “you can attach a different type of radioactive material to those engineered molecules and when they stick to the cancer cells the radioactive material kills only the cancer cells”.

Reasonably ‘close call’ for a BBC programme? They could make an entire Horizon programme (never mind Click) out of what Avacta are doing.

Time for Consilium Strategic Communications to do some ‘communicating’.

GLA

Demand a bit higher in Canada than usual, but they still don’t want to pay enough (by a long way) – yet …

Bid Count Bid Size Bid Price Ask Price Ask Size Ask Count

4 5,460,000 0.035 0.04 4,000 1

GLA

2023-07-27T14:27:27+01:00 GBp 2 999 1,998 Off-book SINT

Some would say that a share trade of 999 indicates ‘fake wall’ (which, I’m lead to believe, is an attempt to keep the price down?), I couldn’t possibly comment. Funny, a SINT trade (II trading on own ‘book’) as well, weird eh?

GLA