Member Info for SteveV

Leew, 2000bopd by Xmas would be fine by me. It would mean the plan IS working.

This is the first time COPL have actually told shareholders the target they are aiming for that funds all of the next year.

We never got any indication from the previous management what they were aiming for and at what level would we be cash positive. It is quite shocking that we have been able to cut costs by $2.3m with another $1m soon to follow off General and Administrative costs.

We appear to be running a tight ship now. Costs under control, and a fully funded plan for success.

Oh.... and the small matter of a JV with a BIG oiler may pop up at any moment....Come on Arthur redeem yourself.

Hmm. So Anavio immediately sold all the placement shares at 2.7p

So someone was a keen buyer at 2.7p.

I would think it is now in Anavios' interest for the price to rise.

Therefore it probably will !!

Yes Bladderman, it stinks, but we are where we are. What can you do about it?

I would guess the SP will rise to around 2.4p ish, in the next few days.

Possibly simply the market properly adjusting to our current situation.

The recent placing was 2.6p. So technically the sp should be just below that in line with the % dilution of the extra shares.

BUT it rarely works like that. Confidence is a key influence. We now are a stable business, fully funded to achieve our plan of 2000 bopd to provide fully funded ops for 2024. Just need to start delivering and the sp will re rate.

Exxon wouldn't even need to pay for COPL in stock.

Petty cash tin would suffice.

They have around $29billion cash on hand !!!

I also think there will be a cash payment (that is what is currently under negotiation, IMO)

BUT I think it will only be enough to pay off a lot of /all of the bonds, not the SL.

Our existing SL has mellowed considerably recently and seems a lot happier with where we are. The RBL was supposed to be for partly paying off the SL, but they amount o the same thing really . Why change to another lender if the existing one is happy to carry on.?

The JV are just arguing about money now. The JV want in cheap COPL want fair value.

John Cowan "...if the interest being shown by certain third parties in joint venturing with us matches our own views on value, we will seek to further scale through partnership....."

Took a while for Exxon to get their hands on Denbury

"....Denbury Inc. held talks with more than two dozen potential buyers and rejected two offers from Exxon Mobil Corp. before finally agreeing to sell itself to the Texas oil giant for $4.9 billion in stock last month.

Executives and their advisers spoke with more than 28 parties, from international oil majors to pipeline operators, signing confidentiality agreements with 17 of them over a two-and-a-half year period..."

https://www.bloomberg.com/news/articles/2023-08-29/denbury-held-talks-with-28-potential-buyers-prior-to-exxon-deal?leadSource=uverify%20wall#xj4y7vzkg

Getting to 2000 bopd can only strengthen our hand and we now have the infrastructure all in place and the funding.

I think our new CEO will be VERY wary of overpromising and under delivering, especially as that has been the undoing of Arthur.

That being the case from what he has said I am very confident we will achieve 2000bopd in the next few months.

Additionally, with the new upgrades we shouldn't seen the same problems as last winter if it is a bad one.

I think 2000bopd by January. JV to follow.

Yes there is absolutely NO reason why we can't achieve over 2000bopd. We were doing that before we upgraded the field.

We are fully funded until we get there, and when we do we are funded for all of 2024.

No more cash need !

Just waiting for JV next which will appear out of the blue sometime in the next few months.

Well tomorrow could define the perception of the new CEO.

You got to deliver what you say to be taken seriously.

"...The Company is on track to close the financing prior to 6th October 2023.."

RNS in the morning or he has got off to an uninspiring start.

Just need the new management to deliver. RNS tomorrow confirming financing.

They will look pretty amateurish if they fail at their first hurdle having assured us.

Like most explorer/ early production oilers COPL is highly risky.

It will either crash and burn, OR, do VERY well.

Early investors are sometimes lucky and get in cheap, but other times suffer huge dilution in the pursuit of profitability.

But, we are clearly on the cusp of something, 2p does seem basement level SP to me.

"....The Company is on track to close the financing prior to 6th October 2023..."

So that is tomorrow. RNS Friday morning?

I had another top up at 2p. Seems cheap considering we are likely to get the finance sorted by the weekend.

Shaa, I don't think the JV will fall through, BUT, it is a possibility.

They are clearly arguing about the price now.

From the mouth of our new CEO

" if the interest being shown by certain third parties in joint venturing with us matches our own views on value, we will seek to further scale through partnership."

Yes, I think the scope of the proposed JV project has increased as the understanding of the nature of the prospect has evolved.

I think it with either fall through because terms/price can't be agreed, OR, it will be a MEGA deal !

Let's not forget energy security has become a high priority recently.

EOR in the USA will thrive and expand over the coming years.

Energy security/EOR/ and CC .......With COPL in prime position!

Hey Pilot, lol, yes that is probably the way it will be....... Death or Glory!!

BUT, I actually feel quite confident the JV WILL happen.

AND, even if the current negotiations fall through, there is so much happening in Wyoming and the PBR that someone else will come along. Lets face it the current market cap does NOT reflect the untapped value.