Did I not read that there was cash runway till end of Q1 2024? Smokes and mirrors, come on BOD, what games are being played here. The SP cannot go lower from here, it’s already nearer to 0p , could we see a major turnaround here and hit 2p plus? Next few days? Stranger things have happened….imo
Dyor
Will the share price be near 2p or 0p on 31 Dec.?
Risk reward seems good for a punt here at 0.30p, not far from 0p but if all the bad news now out of the way and some good news come in, we could be looking at nearer 2p, so massive upside from here if it plays out well.
Dyor
This is simply a slight delay, all looks good on the macro level:
"· The rod pump has now been installed on the SCHB 2(2.) well and, having produced at much higher rates initially, production has now stabilised at a rate of approximately 40 barrels of oil per day ("bopd").
· The low production rate indicates that the reservoir near the wellbore has been invaded with drilling fluids which are restricting flow rates. This is not uncommon in situations where hole stability issues have occurred during drilling due to the use of high-density drilling fluids to stabilise the hole.
· The well continues to clean-up, albeit currently at a slow rate. Even at these low flow rates, production is commercial with field revenues exceeding field operating costs.
· The Company will undertake industry-standard well stimulation in the fourth week of January 2024, which is expected to improve production.
· The Company is fully funded to undertake the planned well stimulation in an operation that will take approximately 1 week and which has an estimated cost of less than ?500,000.
· To date, over 1,600 barrels of oil have been produced through the Schwarzbach facility since the installation of the rod pump."
I have added another 10m shares this morning. Waiting patiently for the pay day in Q1 2024.
DYOR
COPL ended the year last year at around 19p if I recall correctly, we are now at all time lows, hopefully today's news steadies the ship and the SP goes into a reversal trend up now.
Sub 2p is a bargain IMO considering I bought at 6p in Feb earlier this year.Hoping to see at least 3p close to this year.
DYOR
27m share purchase just went through on level 2, is today the reversal here?
Could be an interesting few days and weeks ahead. Market cap could 5 bag from here. Sadly my average is 0.050p but confident that we should see it hit easily once this gets going.
Dyor
CSfS share price is over 21p today https://g.co/finance/CSFS:LON
500,000 shares is more than £1m ?