Member Info for MisterPositive

Dont get too excited just yet....relief though. Lol

Just the start....when this goes it could keep going with regular news flow in the pipeline (literally) to support each rise.

Got to pop at some point. 0.40s next week imo.

Tiburn
Agree. Good recap.

Massive Upside here from both Wyomic (circa 50,000 acres) and Nigeria OPL226 (update in Oct i think).

Seller will be out at some point.

I look at COPL as the next Tullow.

I think there could be position adjustment going on with both HSBC and RBC.

To maintain their respective circa 5% each, they had to sell some shares to make room for new shares to be granted on exercise of Warrants to maintain their overall 5% holding each.

Could be wrong, but that is my view.

Future is very bright indeed with both Oil price and Production increasing. Also more to come from the recent Oil discovery in BF DEEP with 6 oil bearing sand intervals being tested. GLA

MP

Agree.

2.3p has got to be the first target just to get to placing price. 4.4p warrants price should be the next target.

This one moves fast with a bit of buying pressure.

Agree. Massive Upside ahead from current very low MCap.

LB
There are probably some more warrants still to churn through but they are all being absorbed by buyers in the market and also institutional investors by the looks.

CASH from warrants also comes in adding further to the current cash balance.

Q3 ends in about 3 weeks. We should get latest production figures. If we can get all warrants overhang done by end of Sep, then happy days.

This should then storm higher and keep going. That is why you got Buyers soaking up any sells coz coming months MCap should be lot higher.

Short term pain for much bigger gains that are ahead.

As at 31 Aug: reached 2720 bopd (1604 to Copl).

Q3 we should be on track for 3000 bopd
Q4 : 5000 bopd

Each 1000 bopd increase should add $11m profit annually, using $30.62 avg net back profit figure and 365 days. Should be generating strong cash flows in coming months as COPL revenues increase in line with increase in Oil production.

should be at 'Multiples' of current MCap

With 3000 bopd net to COPL using above figures, should be generating $33m per annum.

Above EXCLUDES Barron Flat Deep Discovery.

Yes. Had the same 404 error till around lunch time. LSE chat service was down.

Over 10.5 million traded in Canada.

That is a big number. Avg daily volume in Canada been around 1.5 m

Q on Q increase in revenue & profit should be strong going forward. Rate of production increase is impressive exceeding everyone expectations.

At the time of Atomic deal none of us knew about the Barron Flat Deep massive potential. Now with discovery announced with 6 oil bearing sand intervals to be tested should add further to the Bopd figures.

We not even completed the other 9 of 12 wells within the field development expansion phase, yet production is rising wk on wk.

This whole Atomic asset with adjoining leases probably could be 10 x bigger than original estimates in my view.

Even $100-150m MCap might be very conservative the way things are progressing. Happy to wait.

4 June 2021...
"The Placement was taken up by current and new sophisticated and institutional investors from Australia and the UK raising circa A$11.7m (£6.4m) before costs."

Very surprised we trading c 22% below 2.3p placing price ???

Touched 0.64 on the day it relisted.

50% drop seems to be Overdone especially with Production increasing weekly.

Last 24% increase in Production came in just 2 weeks to 2720 bbl/d. At that rate we should be be around 3372 bbl/d.

Warrants should be also be getting closer to being done in my view.

Prospectus was dated 11 Aug.

1 Sep discovery RNS clearly states 100% WI at BF Federal Deep unit.

So COPL must have taken additional WI to take it to 100% now.

Sorry was confusing BF Shannon with BF Deep.

COPL had 100% of BF Deep.

TR1 incoming....

Yes looks like CUDA might have relinquished their share in Barron Flat - Federal Deep as COPL now got 100% WI...

I think there has been lot of developments between suspension date and Re-listing date that we only just finding out.

Getting closer to action at ARYA in Sep..any time.

Company just needs to announce this kind of Discovery as " seperate RNS" going forward.

Agree. Not much been priced in currently.

Smart investors building a decent holding on the quiet while still under the radar.

The 'Herd' not arrived yet.

WTI marching towards $71

As Arthur said, costs are pretty much fixed. Even Butane gas they buy is 90% hedged.

So increase in both daily Production & WTI price increases our net back (profit) each time.

CASH balance should be looking even better.

Q3 ends in under 4 weeks. Im pretty sure we should get an immediate flash preview of daily Bopd numbers soon after 30 Sep.

Not 100% sure on this but i think they already at TD of 9,220'.

Drill started a while back and now they intersected the 6 oil bearing sand intervals.