Member Info for SteveV

Well we know who Exxon have their eye on.?

"...the Company confirms that it is actively negotiating terms for a joint venture for the long-term development of its Wyoming assets...."

Note: LONG-TERM...... Big plans a foot.!

Yep, all hot, air with an agenda.

I have been topping up in the low 6's

The positive thing is that this kinda thing happens to underfunded companies with short term financial issues, BUT with a business that has MASSIVE upside potential(At least 1 billion...yes a billion barrels or oil)

The moneymen gently prising the assets out of the hands of the original investors. They know there is value here otherwise they would wouldn't be interested.

I have been topping up when prices are low to offset the dilution.

Not long now before the denouement..!?

Yes the bond holders are minted whatever happens, including issuer buyback. But it is clear they have been controlling or heavily influencing the SP since day one.

Art thought the bonds were a great deal but they have decimated the sp and caused huge dilution, IMO

Unnd, I thought we could by back the bonds.

"....Issuer Early Redemption: 114% of the Principal Amount, all accrued but unpaid interest and the relevant make whole in the period from 6-months after the Issue Date to and including the first anniversary of the Issue Date (and thereafter, at 109%), subject to the Parity Value of the Principal Amount of each bond having exceeded US$260,000....."

A juicy RBL or JV cash input and then immediately buying back ALL the bonds would do wonders for the SP.

If we bought back all the bonds do they still get to keep the warrants !!?

Small top up for me at 6.15p . Thanks.

Yes. Ryder Scott will probably be independently confirming 2022 RESERVES ahead of RESERVE based lending.

Just waiting for the sign off I think. RBL in the bag then.

Nothing to do with the JV, in my opinion.

Small top up for me at 6.8p. Thanks !

They would barely notice a $1billion

Big oilers don't need to go making low ball offers for any assets they want right now.

They are all absolutely rolling in cash.
https://www.macrotrends.net/stocks/charts/XOM/exxon/cash-on-hand#:~:text=Exxon%20cash%20on%20hand%20for,a%2041.28%25%20increase%20from%202019.

"Exxon cash on hand for the quarter ending December 31, 2022 was $30.464B, a 538.93% increase year-over-year."

So they got $30billion spare cash just sloshing around in their bank account !!!! ....Loaded!!

Maybe they are just going to take us out!?

I think Oil stocks are going to come back strong this year.

People realising we can't do without fossil fuels for the foreseeable future, but have been underfunding development/reserves for quite a few years now.

Solar/wind are still only 3% across the globe.

The gigantic increase in lithium/nickel/cobalt ..etc mining required to fuel the EV market will really put the breaks on major inroads in that sector for decades.

Who is the mystery JV partner?

Proactive investor just before Xmas.
https://www.youtube.com/watch?v=hlFIFiQ4Ddo
Try 09:30min in: " I know them, they know me"

Then Go back 6 years:
"COPL’s technical team has earned the respect of partner Exxon Mobil"
https://www.youtube.com/watch?v=wTFUec0R2fA&t=136s

A lot of posts seem to have been deleted today. Just a repost mine from earlier:

Not long now.

15th Nov. 2022 RNS
"Due diligence and discussions continue with respect to a possible Joint Venture on the Company's deep oil discovery by a large oil company which approached COPL's COPL America Inc affiliate. The Company will provide an update at the appropriate time. The Company is encouraged by the progress to date."

Ist Feb. 2023 RNS
"In addition to securing financing from debt and equity capital markets, the Company confirms that it is actively negotiating terms for a joint venture for the long-term development of its Wyoming assets. The Company plans to announce the detailed terms as soon as they are agreed."

In a few short months we've gone from possibility of JV for Fed Deep to detailed terms as soon as they are agreed for a piece of all our assets. !?

No wonder it's taking a while.!

Proactive investor just before Xmas.
https://www.youtube.com/watch?v=hlFIFiQ4Ddo
Try 09:30min in: " I know them, they know me"

Then Go back 6 years:
"COPL’s technical team has earned the respect of partner Exxon Mobil"
https://www.youtube.com/watch?v=wTFUec0R2fA&t=136s

Are we going to get to "poke a straw" in the Fed deep before the Sage grouse season starts?

It clearly depends on the JV but it's unfortunate that deadlines have been missed.

The future is bright but taking longer to get there than anticipated.! (I've been topping up in the meantime!)

Just had another top up at 7.6p. Thanks a lot.

Got a feeling we will hear from Art soon.

And, no bondholders selling at these levels.
I can see this getting into double digits VERY soon.

Going concern statement was a regulatory requirement only.
Sounds like the finance will get sorted end of Feb.
We had a bad production month Jan due to weather.
JV will be signed soon.

Too many nervous trigger happy private investors yesterday.

Does look like the JV is progressing and is quite comprehensive in it's scope. (probably why it's taking this long)
They aren't simply lending us a bit of pipe and seeing how it goes.

"In addition to securing financing from debt and equity capital markets, the Company confirms that it is actively negotiating terms for a joint venture for the long-term development of its Wyoming assets. The Company plans to announce the detailed terms as soon as they are agreed."

Note :
"long term development"
Suggests the JV want in indefinitely and have big plans

"The Company plans to announce the detailed terms as soon as they are agreed."
This seems to have moved on from "if", or "prospective" to "when" and they are now crossing the t's and dotting the i's