Member Info for SteveV

One down:
Flaring news...tick
RBL....
JV....

Could be a very special month!

Yep, starting to look good.
Some good news with the flaring next week might get us 18/19/20p mark.
Makes the 16.75p Warrants attractive.

£9.1m extra in the bank(warrants)
RBL imminent
JV
Be no stopping us then...whoosh!

COPL looking more and more desirable. No wonder a big boy wants a JV.

I guess it depends on the nature of the joint venture. Could be modest to begin with. JV partner maybe agrees to drill a few
holes in the Fed deep before making a major commitment. (especially if they are one of the big 5 local guys who know the terrain and how to drill it best)

Big big money to be made in the PRB if you are a producer.

Come on Art...get the oil out of the ground.

It does obviously make sense for the JV party to be one of those five. But that is not to say a new player can see the huge potential and wants a piece of the action.

Love to be delineating the 16 permitted wells in Jan rather than just 2.
What if 16 wells come in at 2000bopd. OK so we may have given half to the JV.

And ultimately 150 wells at 2000bopd . OK half that for the JV
75 wells at 2000bopd x oil at $100....Mind boggling.

Get it out of the ground !

Yeah, well it's all about the terms. Do you try to go it alone with relatively limited funding, or accept a large influx of cash from a JV whilst having to sacrifice a big chunk of asset.

For me I would be inclined to go for the latter. Get some big money in. Get the oil out of the ground.
I don't think the perceived value right now is having decades of resources but more about what you can produce now.

I think Art said in one of the recent interviews something like he has 38 years in the oil business AND he is fully aware of exactly what COPL have got now.

He will drive a hard bargain in a JV or takeover.

Biden not impressed, and:

"Secretary of State Antony Blinken said the US had "made its views clear" to the cartel's members.

....Meanwhile, several senior senators said the move showed the US must work towards achieving energy independence. Republican Bill Cassidy said Biden's failure to increase US energy production had left the country "desperately vulnerable" to Opec's move......."

We got a bit of oil in Wyoming if anyone interested.
JV here we come, get it out of the ground quick!

What's next. We got the gas flaring hearing in 6 days time. Can't see a problem there as the delay
was so it would go through unopposed. SP suffered when the delay was announced so expecting another tick up when it is sorted.

Lol, typo. You know I meant butter

Think we've got to prove up the big find with a few wells first though to get MEGA bucks.

We won't get big numbers based only on Oil in place.

I'm very happy to wait. We could all be rather well off in 6 months time.

We are on our way to becoming a successful self contained producing oil company.
I think this will become apparent in the next few months as Art's plan plays out.

BUT...that is just the bread and better.

The drilling of the Fed deep with a JV will be the game changer.
2000 bopd x by 150 drills(potentially) !!! No wonder someone else wants a piece of the action.
January's first drills will be eagerly anticipated. If they are successful the skies the limit and some major players will want a piece, if not ALL of it.!

I'd rather a buyout too but of course currently it would be a low ball offer.

It's the delineation of the new find that will create Maga bucks! Can we go it alone?

Yep, looking good. Get the sp into the 30's. That will get £11m warrants cash to add to the kitty. Get the RB|L signed off.
JV with major player.
We'll be untouchable then.

Shouldn't news like that not be in an RNS

How come JBER always seem to be the lowest ?

If Art can:
Get us to 3000bopd from current wells
Get the sp up and potentially add £11m in warrants
Get the RBL sorted.

Then things are looking VERY promising (production up, P2 reserves up)

THEN we eagerly await the drilling of the big find. Exciting times ahead!

My main question to Art would concern giving us some guidance on production.
What does he think we can get out of our current wells when all the current workovers are optimised and how long will that take. e.g. How many bopd by Xmas.

I should think Arthur is keen to get the SP into the 20's so that the 16.76p warrants from the bonds become attractive. That would bring in just over £9m. The 24p warrants from the placement would add another couple of £m to the kitty.