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Im sure this will come good, it just doesn’t have the upside potential that it once did as it would appear the mine has been a disaster zone. Disappointing but maybe they wanted to get this out of the way and announce the hedge is clear next week and selling at a much higher spot price etc. I won’t be panic selling as I’ll hold for 65p
Revenue look like it will vastly improve in 2022 thanks to the higher copper price. Delighted I de-risked here and moved most cash into copl. Looks like top end here is now 60-65p basically where we were a year ago
Cut my losses here, doesn’t look like the market cares for dry wells and a few hundred more bbls a day if lucky with massive capex. Put the lot into copl as there is actually massive potential upside there. Good luck
We all know this is majorly undervalued so Art dropping £250k must mean that finally we have the momentum to move much higher towards what the assets are worth. His comments about the discovery mean that the third party cpr will confirm what he said on 10th Jan. Hopefully these purchases and rns comments confirm that good things are coming for copl and soon !
Why do people keep blaming the “MMs” ? The market is determined by supply and demand, there are more sells than buys so we go down. Very stupid ring considering the asset but it will come good in time.
Tilburn can you please explain to those of us who find the language in the rns confusing how they made a discovery of 1.5-1.9bn + another 400mil with one drill? I.e two separate discoveries with one drill ..or is it 1.5-1.9 total ? Thanks
For arguments sake say we have 200mil shares in issue and we have 200 mil proven reserves (conservative estimate) you are essentially able to buy a barrel of oil for 32p (albeit stored in the ground). Today I bought circa 9000 bbls of oil for £3k. Great way to look at what’s on offer here from a different perspective
I keep re-reading the rns where copl “confirm” the “significant” discovery then I buy more. It’s not like we only have a discovery and no infrastructure or no production or it’s 2000 miles from civilisation in Africa or Alaska. There are quite a few positives to think about during these turbulent days.
Hopefully the Geopolitics will favour copl in the coming months. Problems in the Middle East + Ukraine should lead to copl being a take over target much sooner than we think. Chevron+ Exon have a combined mkt cap of near $550bn it would be stupidity for them to sit on their hands when they could buy copl and massively increase reserves in the continental U.S.
https://www.google.co.uk/amp/s/www.scotsman.com/business/oilexco-chief-named-iraq-oil-food-scandal-2469840%3famp
^interesting read - looks like art knows how to get things done and that he also appears to underestimate the quantity of oil he says he has.
What’s the ideal scenario here regarding sp boosting news over the next few months ?These are my thoughts …
1) Cuda done deal at a good price along with refinance package with new lender
2) Production miraculously increases overnight
3) CPR is released with the good news we all expect