Member Info for MisterPositive

What price do folks here expect on deal RNS day?

Picked some more just before close at 5.70 also which might look like a good price in coming weeks.

Hallowed, Exactly.....lol This is not just a 'One hit wonder'.... Been reading up on the geology....it gets interesting between 2400-3100 metres as that is likely to be the sweet zone with most prospective mature rocks that are considered to be Oil prone (i.e. 8000-10000 feet). With all time estimates required for casing, cementing at each step, changing drill bit, etc. I have lost track of roughly what depth we might be at?

Added more today. Today's RNS is skewed more towards a deal in the making in my opinion. Why would Potter amend his remuneration package half way through talks?....unless he was asked to do it....hmmm Will find out soon.

Victor, Drill season runs till end of Nov. So we got about 4 months. Aug just started. I can see both Block XX (Gazelle) and Wild Horse (the beast) up in action at the same time Sep/Oct. We are close to entering very interesting few months ahead. Yes share price seems to have Overshot to the down side far too much but that can change in a heart beat.

Don't see any reason why Block XX should be delayed. Rig is just next door, so not much distance to mobilise. Just a matter of which one is available for use by MATD as they might be in use currently by the operator DQE. Once confirmed we should get the RNS. That's the way I see it. Might get Rig confirmation by end of this week....who knows along with other updates. Bit premature to talk about next year. They would want to get the right Rig and then retain it for Red Deer also for April. They would defo want to get 2 Block XX drills out of the way this year in my opinion. Success at Block XX might also lead to further appraisal wells in 2019.

Blimey 6.1% spread.....WTF.

Hallowed, Agree. Think he full well knew the temporary effect of dilution but more focussed on the bigger picture & the massive prize. (Fully funded 6 drills + Discovery) = Higher Share price. That is the simple equation. Wait till Farminees on 'stand by' get on board after Oil strike(s).

Keep Malcy out. He adds nothing other than few pounds to his waist line each week...LoL

Hope to break last year high of 1.925p in coming weeks. GLA.

Dusterman, I think David is just as passionate like most here...

Eagle12, Whatever dude. I follow sentiment & momentum. I am very selective in the investments I chose, especially when it is significantly undervalued. Should see 6p here sooner than you think. Copl is extremely undervalued any which way one looks at it. Things about to change to the Upside. Not sure what funding rumours you keep talking about?....care to elaborate. Project Finance has been agreed. Soon after the service agreement is formally signed off, we should be off......price creeps up higher before news.

Ojay: Agree. 40p with SL and over £1.00 with both strikes is what I should have said. Market might take it even higher.

Kapkina, Not sure who 'jammin' is (was) as someone said is the one who coined the term 87p party? Taking a guess could have been back from 2011, when there were far less shares in issue and BPC had raised plenty of cash at the time for seismics etc. I was here at the time coz I like the prospects and had a decent Holding back in 2011. Fast forward and today we got over 1.5B shares. Not much cash in bank. Relying on a deal which could come but on what terms? With 80/20 deal split to get free carry just for first drill, my Holding loses 80% upside to the prospective barrels overnight. Yes, we will get a brief rally on a deal when most of the traders will take profits. Next driver would be the actual drill itself or some sort of guidance by the company, which won't be happening until 2019 if we are lucky TBH. Just being realistic. I will take my chances to add more when I feel appropriate. Prospects are not in question, never have been with 30-35% COS (chance of success). It's how long will it take to bridge the gap to value realisation that has few ??? at the moment for me when all hinges on a deal here. Real value driver is always the Drill bit. Let's hope for a reasonable deal here. Good luck to all.

Agreed. 40p could turn out to be at the low end with strikes on both. Strike at the bigger prospect Wild Horse alone could take it well over 40p in my view as the whole Basins comes alive. Next few months would defo be game changer here before we even drill FOX and Red Deer next year. Block XX equally interesting where a strike leads to early revenues where Production comes online much early. Add in the midst of all above, potential farminees on 'Stand By' mode willing to pay lot more once de risked....you bet ya....they will have to pay much more to get in.

Loz786, Good to see you here. Copl already have a major discovery with initial production estimated between 6000 to 10,000 bopd. They plan to do 2 further appraisal wells with another 5000 bopd each to be added to the initial production estimates. Hence the FDP incorporates a Production facility of c. 25,000 bopd. * FDP includes setting up of the Production platform and the FPSO (floating vessel) to be connected to take away Crude for export to world markets. * $100m agreement with a reputable Service provider expected to be concluded this month. * Project finance of upto $50m agreed with Mauritius Bank & Trafigura. * off take also agreed with Trafigura - one of the biggest commodity traders globally. Funding issues seemed to be holding back that Production to come online as CEO was looking for alternative source of funding instead of equity dilution. With upto $50m project finance agreed now, re rate is inevitable here. Imho.

Personally not a big fan of these monthly extensions. As somebody else here said....they should have signed the deal by now. Keeping my small Holding here for now. Would only buy more once there is a deal. Everything hinges on this potential deal. If major walks coz they cannot secure their desired % on the cheap, Or any other reason, then we are back at the drawing board. All talk of future revenues & profit projections is little premature at this stage in my view. Real Value driver is to prove the Oil. Potential is there but we need to drill to prove that potential and can only do that with the helping hand from a major. Going alone is always an option, but will need to raise a lot of funds for that. Don't think we want this scenario. Just my thoughts.

Ukog went from 0.9 to 11p in 3 months last year touching £335m MCap. (12x bagged). Bpc jumped from 0.5 to 6.5p in about 3 months. (13x bags). Copl can do 10-15 bags easily when news comes in. $100m deal with service provider takes care of early production with FPSO in place to offload barrels of crude that will be exported....as per Art M. EPS - Early Production system delivers faster revenue generation & profit realisation for all stakeholders. Govt gets early Royalties & Tax revenue. Being appraisal well it is easier to set up and connect Production to the FPSO.

Dusterman, Did you just buy in this week? Yep. We all need bit of luck sometimes. Geology is great. Chinese got just over 100 Billion barrels to date. I think it's just a matter of how much can we get our hands on.

Shell is moving away from Oil and more into Gas assets to increase their global clean energy foot print after being heavily criticised by the Environment regulator. CEO made a statement to that effect few years ago also if I remember correctly.