Member Info for MisterPositive

Oil discovery at the 100% working interest Barron Flats Federal Unit (Deep) exploratory well expected to open new field developments. Six (6) oil bearing sands totalling 246' (net porous sand)/282' (gross sand) intersected. Production casing is currently being set to total depth of 9,220'.

Barron Flats Federal (Deep) 100% oil discovery to be tested through casing. The testing program will lead to initial production and define a further exploration/appraisal and an exploitation strategy for the targeted reservoirs.

Cash position as at 30 June 2021:
$15.6m (c £11.3m)

MCap £57m

Around 20% of MCap is just CASH....bizarre !!!

Current cash position could be close to $20m?
Imho.

I think the Barron Flat 'Deep' discovery news yesterday with 6 oil bearing sands showing got lost among the financials.

Consolidation 100:1 has no net effect on your investment value. Qty goes down, price goes up by 100 factor.

With less shares in issue lets say 156 million, price moves however can be more pronounced.

They probably farm out SA and get incoming partner to pick up the 3D seismic costs as part of the deal.

OIP estimated 5.3 Billion barrels
Recoverable about 2 Billion barrels

From 7 prospects (if i remember correctly).

Waiting for US$15m to come in from Cameroon farm out deal agreed recently.

Correction
* now got BF DEEP discovery 100%

Should be lot higher.

BF Federal Deep (100%) discovery announced yesterday was not factored in at all at the time of ATOMIC deal and when WTI was around $39.

Since re-listing we have not got the BF DEEP discovery with 6 oil bearing sand intervals and WTI having a crack at $69-$70. Production up 123%

MCap adjustment higher is inevitable. Just wait for the ii to finish loading up. Q3 finishes in 4 weeks. Production numbers by Q4 could be double from current levels. Then you can add production from BF DEEP also in 2022.

Watched yesterday's Proactive Investors interview again. Strong cashflow to get even stronger as Production goes up even more.

Barron Flat shannon unit -
rate of Production increase been exceptional. More to come on this.

Cole creek - 3 well completed, 9 more to go as part of field development here.

Barron Flats Federal Deep - 100% WI
Exceptional discovery with 6 oil bearing sand intervals.

MCap should adjust higher once ii have loaded up.

Regular news flow from here onwards which is what we need for ongoing momentum and Multi-bagger re-rate just around the corner.

Wanted to add few more at 0.36 on the bell but missed the cut off.

High volume today.

Very good chance of breaking past 0.38 today or 1st thing tomorrow en route to the 0.40s and then 0.50s.

I am impressed by the Perseverance shown by the Copl holders. Well done. Like i said earlier, all storms pass. Should be bright & sunny soon.

Very best to all fellow holders & Traders.
MP

MMs switch spreads quickly to capture them as Sells instead of Buys.

Oldest trick in the business. You can do dummy trade to get a quote. Tells u all u need to know.

More Institutional investors coming in by the looks plus some bigger Private Investors also. Should do very well from this cheap entry.

Excellent interview also.

Would not be surprised if we are in 0.50s next week as US$15m Farm out deal concludes.

All storms pass. This will pass also.

Sunshine after the rain. Copl generating strong cash flows and also net zero gas. So all green.

Cashflows should get even stronger. MCap should adjust upwards accordingly. Cannot stay at this level forever. No of shares makes no difference. Its MCAP you look at. 88e sitting also on c 14B shares. At one point 88e MCap spiked to £500m ???

Copl MCap is way too low given what has transpired in last 6 months. Crazy !!!

0.4473 paid today so far.

Gradual tick up towards 1p this month imo.

Even +1p looks cheap Vs massive upside from Cameroon, Namibia and South Africa.

Agree. Take CUDA assets in Distressed sale. Good chance Copl will pitch for them with strong CASH position.

Imagine having 100% of Barron Flat Shannon and Barren Flat DEEP.

Next year we could looking at 10,000 bbl./day.

Then you got free carry on OPL226. Strong oil production there also when it comes Online.

Defo a Strong Buy in my opinion from curent price. 10 bagger in my view. Just need to buy n hold and sit tight. Let flippers flip. Hold for the much much bigger rewards in coming months and years with strong annual production

Pretty much. I calculated it at around 1.07p

Will take your 1.15p

And that is just for starters

1) Barron Flats (Deep)-
Love the 6 sand intervals discovery at 100% owned Barron Flats (Deep). Lot more oil barrels to be added.

2) Barron Flats Shannon Unit -
123% increase in production in just 5 months to 2720 bbl./day.

At this rate could be over 5,000 bbl./day by Dec.

3) Cole Creek -
Third well completed with 9 more to go. Production increasing here also.

CASH position is strong to get stronger. Awesome

Gift at this price. Flippers should be done soon.
MP

RNS could simply been delayed by a day coz of UK Bank holiday. Could be here 1st thing tomorrow or Thu morning. No worries.

around or before 4pm today is my guess.