Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Excellent posts this morning Ed, Tiburn and Stas.
Just to add to your posts and the penny to drop for those that it hasn’t yet, are we undervalued at present?
Our current value of booked reserves 33M barrels is £133M we are currently valued at £17M!
That is with NOTHING ELSE INCLUDED.
Do the Maths guys.
Morning ED
Also, as time goes on newer and newer tech will emerge where more oil is extractable.
when our bottles are empty, we can take them back and get money for them (Carbon Capture).
Just for the believers, our MC is 25M and our NAV is 330M - do the maths.
Also, to quantify our find, 10K BOPD over 100 YEARS is 365M barrels, how much oil under our land?
Then add on Wyoming, aiming to be the capital of Carbon Capture in the USA.
You’re just in a long line of moaners on these boards baserite, typical of todays society, “it’s always someone else’s fault”.
Please point to me where I have advised investors to buy?
We read RNS’s how we want to want to read them, for instance I read the biggest find on US land in generations meaning we could potentially have one of the best JV’s in years and will take a lot of time.
You say you have been here since 2015 eh? Then you should know by AM’s format and track record, yet you have stuck it out so long and constantly moon, why? Mind boggling.
Only person you should be blaming is yourself if you feel aggrieved, but re-read my first paragraph.
Funniest thing is that you and others are constantly vile towards COPL BOD, if they pull off a mega JV that will be talk of the town then you lot will be the first to change your tune, lol.
Lol baserite, another with nothing good to say about the company but still is holding.
Nice of you to take time out of your holiday to post the usual ****.
As JV, researched are expecting a big, complex deal which is taking so much time.
Another bond holder out - as suspected
All good.
London, United Kingdom; Calgary, Canada: August 15, 2023 - Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming, USA, announces the publication of its Financial Statements and Management Discussion and Analysis for the three and six months ended June 30, 2023.
Second Quarter 2023 Operational and Financial Highlights:
· The Company commenced upgrading its gas gathering system in the second quarter to debottleneck restrictions at certain well locations, to recover produced gas back to the gas plant and to reduce gas flaring. COPL is pleased to announce that the gas gathering system is functioning and was commissioned on time and under budget in July 2023.
· The Company interest crude oil sales before royalties averaged 1,103 bbls/d as compared to 974 bbls/d in the first quarter of 2023.
· Petroleum sales, net of royalties were $5.6 million as compared to $5.2 million in the first quarter of 2023. The increase is due mainly to the increase in oil production partially offset by a reduction in the realized sales price of oil of $71.75/bbl as compared to $74.94/bbl in the first quarter of 2023.
· The Company incurred a realized hedging gain of $0.1 million on butane hedge contracts as compared to $0.5 million in the first quarter of 2023. The Company had no crude oil hedge swap contracts in place in the first half of 2023 due to a hedge restructuring in December 2022. The butane hedges were put in place to protect the liquid purchases required for the miscible flood injection program.
· The operating netback was $20.93/bbl, before the net realized gain on butane hedge contracts as compared to $17.19/bbl, in the first quarter of 2023. The increase is due mainly to the reduction in operating expenses of $6.98/bbl in the second quarter of 2023, partially offset by the decrease in the realized sales price of oil in the current quarter.
· The Company initiated several G&A reductions in the quarter as costs were $1.9 million as compared to $2.3 million in the first quarter of 2023. The Company intends to implement further cost savings in the third and fourth quarters of 2023.
· A cash position of $5.2 million as at June 30, 2023 as compared to $4.0 million as at December 31, 2022.
Sorry missed link.
www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjpo6PZoNyAAxWiR0EAHaLaDF4QFnoECCoQAQ&url=https%3A%2F%2Ffederalnewsnetwork.com%2Fbusiness-news%2F2023%2F07%2Fexxon-mobil-buys-denbury-pipeline-company-with-carbon-capture-expertise-for-5-billion%2F&usg=AOvVaw2C8Krt_PfGgnFy9LBH5rI9&opi=89978449
Evening Ed (if you are around)
Following on from your great post yesterday regarding GGS, leaving this aside for now.
What are your thoughts on JV :-
in terms of possible % ownership?
Cash up front?
More importantly, what kind of itinerary we would be on in terms of amount of wells drilled, and estimated BOPD?
Thanks in advance.
Regarding Ed’s post earlier, word from the top :-
“Bang On”.
In case anyone missed it.
I don't think anything can be 100% definite in any sector, but it should fix the issue. At a guess I'd say 95-99%. A lot of fields have pads with multiple wells on a single pad with several pads then connected to a separator and then that flows onto the storage and sales tanks. What COPL are doing is a great deal of precaution with each of our 9 best producers getting its own high pressure separator and winter gear (the port-a-loos they can be know as too it seems). Each well will be able to operate under high wellhead pressures and be able to be accessed during heavy snow too. So there shouldn't be any more pressure related issues, nor need to flare gas to bring the wellhead pressure down. All of the upgrades are rated to handle this, that's what they're designed to do. So I'm pretty confident that the next time they try to inject 8.5mmcfrd the pressure from our best producers will be manageable. Other wells can be upgraded or added to the new system as necessary. So it should be a permanent fix to our previous issues. Also further upgrades to the GGS, including more gas compression (up to 12mmcfd), should be straight forward and paid from cashflow.
COPL did get petroleum engineers to model these fields before development and we saw those charts to 5000bopd. It just turned out in practice that the gas flowed better through the reservoir than expected, as a result reservoir pressure, wellhead pressure and production skyrocketed and had to be shut in to prevent gas leaks all over the place due to the plastic pipes. I'm pretty confident that the solutions put in place, the new steel pipe, the new high pressure rated separators and heater treaters will do the trick, that's why I was boot filling over recent weeks. The past issues are almost behind us, we might also have a JV to boot, lets be avin some of these updates.
sub-£30m market cap just doesn't cut it for hundreds $m of infrastructure and assets. So the waiting continues as long as it takes for this to get a realistic market value, same strategy worked very well with EUA.
Regards,
Ed.
Afternoon all.
Ed - thanks for the info.
GGS is the key, for us non O&G bods - these units we are fitting, will they definitely work?, is it a sure fire solution?
For instance our battery pops and car won’t move, we change battery and all is fine.
Am I correct in thinking GGS will have no issues?