focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
“Understanding the dynamic nature of the BFU reservoir has been our biggest challenge to date”
What that says to that is that they didn't, and perhaps still don't have a proper understanding of the geology. Then refer back to the well know criticisms of Arts previous enterprise and we see that Copl is but a reflection of that companies woes.
All of this talk means nothing if COPL cannot get the oil out of the ground.....I see the price is back on track downwards. There will be no JV if production does not increase, and quickly, as if it does not this company will go to the wall due to its burden of debt. Simples. Personally i have doubts that the improved GGS will succeed as my trust in this company is virtually nil, but i hope i am wrong. As I said before, the question and answer session is all about putting out fires and nothing about good news. The hype here has sucked in more investors and now they too are caught in the web.
Https://www.petroleumnews.com/pntruncate/509705823.shtml
It seems things are hotting up in Alaska with Giant Santos and their subsidiary progressing their oil production plans. Santos would be a good candidate for farm - in or JV.
Https://docplayer.net/48193862-Oilexco-important-lessons-to-be-learned.html
Art was previously CEO of Oilexco which went bust. Does this ring any bells? (Copyright 2009 Richmond Energy Partners Page 4 of 5)
“Oilexco – important lessons to be learned 30 March 2009
• A weak board with the lack of the key experience to challenge a strong willed CEO
• Inadequate technical due diligence, particularly reservoir engineering, both by
the company and the lenders to the company
• A seeming complete lack of cost control with regard to drilling operations,
developments and company overheads.
• A lack of financial risk management.
• Overexcited equity investors and equity analysts who blindly rewarded activity
and news flow with higher and higher valuations/“
Were any lessons learned? No. Repeat performance. Lets see if the new CEO and Board can truly rescue this company.
COPL doesn't do good news in an RNS (only in emails) and we already know the quarter was a miserable one. Tomorrow will be the usual COPL bloodbath unless they have suddenly got production up. The market doesn't think so and nor do I, unfortunately.
I have a question, To what extent would consolidation ameliorate the negative impact of having huge numbers of shares being converted. Even over a billion shares can instantly become a far more manageable number. Perhaps consolidation, combined with rising production and still the potential of a JV could be beneficial.