Member Info for SteveV

Trouble is they might accommodate a small buy at a reasonable price but a large order might be different.

Art said he thought the SP should be 50p + now, with current P2 reserves.

AND we still got ramping up of production to come AND the drilling of the big find to come.

Would anyone care to hazard a guess as to where me may optimistically get to in terms of maximum production (bopd) from our existing wells over the next few months (not counting the new drills for the big find) if all the dewaxing, workovers, flaring, etc, bear fruit.

BBC.."Putin poised to announce annexation of Ukrainian regions"

This is going to drag on for months and months. ......More sanctions

We need more oil from the USA....come Art

"Electric car charging costs nearing petrol prices for some - RAC"
https://www.bbc.co.uk/news/business-63029226

And to add to Tiburns comments we also have the Geopolitics moving in our favour.

Oil and gas are back in fashion. Energy security is the name of the game.

I can't see us doing any fracking in the UK even though they are allowing it now, but for the USA energy security AND
even oil and gas export potential is going to be a major stimulus over there.... Game on!!

I don't think the previous lender would be also supplying the hedge. Surely they are completely separate, but the hedge was a requirement before the lender would lend.

Is it not the case that the requirement for the hedge will lapse, i.e there is no obligation to have it post RBL, but, it will still remain until it expires or is re-negotiated or bought out. It doesn't simply evaporate when the RBL is signed.

1 Production up
2RBL sorted
£ Start drilling the new find.

It'all in hand. If Art delivers the sp will sort itself out..... Chill and wait

Not sure there are big buys or sells. Seems like mm's and traders are happy to keep this within a range right now.

Box trading I think Art described it as. MM's don't care what they price is they just want volume.

Sounds like a non issue. Carry on as normal.

Also, how long do we actually need to continue flaring for. Surely we don't want to waste all that valuable butane. Got to get a more permanent fix.

With very liquid stocks(as Art states we are) the price can go up or down very rapidly.

We have witnessed the decline. NOW is the time for a rapid rise! Shorters beware!

I am expecting another blue day tomorrow

I am very happy with an 11% rise today. Today's RNS is not really new news to most of us. But at least it's "official"
Just shows what the market doesn't seem to know.

I do think we are on an upward trajectory now. Nice steady rise for the foreseeable would be very welcome.

We do seem to have been going sideways all afternoon. Buys matching sells I suppose. Hard to get a true picture until all the late trades are in.

Art: "....we have an extraordinary asset base and it is extremely undervalued..."

Yes, paves the ways for the RBL which should be no problem now. News of that will will be another shot in the arm for the SP.

Also looking forward to news of production increase. Confidence is returning !!

"The bonus as most are already aware is that the attorney representing COPL for the flaring application is also representing Devon Energy a $46bn company for something different so must be half decent "

From his companies website:
"Jim is a Partner in the Sheridan, WY office and is co-chair of the firm’s Oil and Gas Practice Group. His practice focuses on due diligence, acquisitions and divestitures, and title work for the oil and gas and energy industries. "

Might come in handy !!!

And no new leases available in Wyoming. ....Makes COPL rather desirable !!

COPL commented in January on Bidens Non-leases and concluded that it would be largely beneficial to COPL in regard to its Atomic acquisition.
I presume the same would apply to CUDA and it makes all our assets there more valuable.

https://www.canoverseas.com/wp-content/uploads/2021/09/COPL_-PressRelease_-_January_28_2021_US-Federal-Lease-Policy-Affects-on-Atomic-Final.pdf

An official reserves update and a word on successful progress of increased production output would do wonders for the sp

Get the shorters' scurrying for the door. !!!