Member Info for MisterPositive

Got a feeling we could see 0.40 on or before Thu this week before news.

MMs seem to got a wide spread going at present...

Don't be surprised if Buys show as Sells....they could be in accumulation mode this A.M.

Jay,
That's what I originally thought, but being conservative used only $10 / barrel profit.

In that case we can Double the future potential profit estimates. With Brent currently around $43....and expected to rise further, we can revise those estimate further upwards.

We can only use estimates at this stage, but gives an idea of how undervalued this currently is.

Personally I think one of the Bigger oil companies nearby would probably just Buy out COPL once production starts and market realises the massive potential of OPL226.

In addition to 6000 zone, other deeper 7200 and 8000 pay zones hold potentially over +5 Billion barrels. MCAP here should adjust significantly higher accordingly as key milestones and drill targets are hit.

News in about 5 days....

60,000 Bopd - with full field development as per Company estimates.

9,000 Bopd - to COPL after buying extra 10% interest from production revenues.

At only $10 profit per barrel, would generate about +$33m profit per year for COPL. Over next 30 years that would be about +$1.0 Billion in potentual profits.

Hence massive upside here for ALL parties to fast track things at OPL226.

Jiving....you on the ball.

Not surprised there is so much demand for these marginal fields licence bidding. Last round was done around 13 years ago. Hence nobody wants to miss out.

To me these are low risk as many of these were producing oil fields. So should be quick cash monetization.

Given the slowdown from new measures after COVID-19,
I would say they done a good job to getting here, almost done. Both parties seem to be working amicably for a quick closure on dispute in order to move forward with OPL226 Appraisal Drills.

CawCaw,
They are both directly linked. Court case should drop simultaneously when Shorecan sign the settlement deal agreement. Only after that 70% transfer to EssarM would become effective. Govt would then update their records for respective ownership interest in OPL226.

Bladderman,
This is typical Friday weekend profit taking.

I'm looking to grab as many as I can, whenever i can next week funds permitting. Focussed on where this would be sitting in 3 months. MCap here is just silly....but will play catch up once other news bits follow through.

+1p is just a matter of time, as things progress. Break out above 1p could lead to 2p in double quick time. IMO

Today's news confirmed all on track. Once legal jargon sorted we should get further guidance on Drill dates, rig etc. Appraisal drill in shallow waters should only take few weeks.

Focus is Nigeria, as COPL has built strong relationships over many years. I strongly support marginal fields bidding. COPL knows the local Nigerian market. Easy to deploy local experienced staff also creating a few jobs for the locals and further enhancing Company profile in the public domain.

It all raises the profile of COPL given its relationship built with Kola Karim over past years and contacts with Govt.

Art finally redeeming himself with activity here about to jump a few notches soon.

Well done to all who kept their nerves. Today's news removes any doubt....the deal is done, just sorting out legal jargon as you would do in any formal contract.

I can see this building on from here move towards resting 0.52 reached about 2 weeks ago. Lucky for some still to get in on the lows while we are here. It's not if but when we break out to go past 0.52 in my view.

All ducks getting lined up. All parties now focused to get on with first appraisal drill at OPL226 gem.

Next target after 0.52 would be +1p.....

and this time could finally break through to higher range. Third time lucky n all that.

Perfect.

All going ahead that is all I need to know. Legal documents take time. We are almost there.

Good RNS...then expect it to open 80% higher in my view.

RNS before or after CAD market open would be great.

FOMO would kick in...coz once deal confirmed and ratified most would end up paying much higher than current 0.30 placing price.

I would expect this to Double or more in a flash in my view.

Guys,
Can you please debate other stocks on their relevant boards.....confusing for readers. Many thanks.

We have already re-traced back from 0.52

Think this will go past 0.52 properly this time around when good news arrives. Not far now...

Typical before news....MMs tried to grab as many as they could this morning. I think MMs can sniff RNS on it's way. Somehow they get the heads up ?