Member Info for SteveV

I thought Art seemed fairly confident and relaxed today.
Are we turning a corner now?

Could she get a RBL with them !?

Yes we may see light at the end of the tunnel soon.

1 Get production up...In progress
2 Get RBL.....in progress.

Things might start to look a lot more rosy then.
So we have $11.5 in the bank at 30th June
The Debt is down to $42m
The RBL is stated to be for $50-60m. Say we go for 60. $60-42 after the debt is paid. Leaving $18m for Capex.

If we get an uplift in the SP as a result of the above to ,say 18p + then the 16.75 warrants will be desirable. If all taken up will add $9.2 m to the kitty.

So $11.5 +18 +9.2 = $38.7m
Now that would drill quite few holes in the ground. ! And no placement !!!

The RBL may also be contingent on getting current production output to an acceptable minimum level.(to the lenders)
They also mentioned in the presentation the RBL may also require some level of hedging.
So I guess a few things to agree on as well as what interest rate.

Anyone got any idea what our BOPD could be realistically achieved in the short term if COPL can maximise output from current wells. In particular IF we can sort out the pressure issues(flaring in Sept.) and sort out the waxing problems.?

Art needs to do something to get the sp well over 18p.
The 16.75 warrants will be attractive at that price. Another $9m to drill the horizontal wells on the new find.

Yes. COPL specifically stated in the last investor meet that the RBL is based on current reserves. Nothing to do with the new find and RS report.

I think we need to hope that the likes of Anavio are here to make a big profit, rather than take 10-20% as and when it occurs for them.
Hopefully they will sell out at a large premium to a big oiler. That would be the start of a full takeover.

Woah LargeGin...slow down it's only 8 o'clock... Ha. I haven't had my first yet.!

Cunning plan by the big boys to soften up the private investors. Batter us into submission
then when they all start to pile in it won't cost them as much. They can get LargeGin's for 75p.

I'm still none the wiser. Are those 4 large trades all buys, all sells, or two buys and two sells.?

Given the price action today seems like they must be sells. Late reported trades?

The 50k seller could still be the broker churning through their 11m shares payment fee for arranging the bonds.
Happy to sell the rest at 14+ if they sold a large chunk at 19-20p.

Apart from that with the sp so low everyone else is losing.
I think the tide will turn at some point.

Typical low grade journalism. Try to sensationalize for the sake of the clickbate headline.

Exxon have been rolling out divestment of assets around the world for some time now to concentrate on more profitable assets.
BUT they also announced in Feb, a $400 investment to expand their carbon capture facilities...IN WYOMING

There were over 11m Shares and warrants just for the people who organised the bonds !

No doubt they were selling when the sp was 19-20p. They can afford to offload any outstanding at below 16.75 and still come out in profit. NOT invested just money men. They'll move onto the next job when they are done.

RBL can't come quick enough. When are we expecting that?

Does Art not want to make the full RS report public so that the majors can't get there hands on it.?
Their geologists must be itching to get a look.
We know Art wants to develop the business rather than sell out early.
How much would a major pay for COPL tomorrow. Or would they also prefer to wait until More P2 is proved up?

No Harry. It was payment from us to them for arranging the bonds. (to buy CUDA)

I think it will be positive. I'd like to know:

1 When will we get the RBL- dates please-...No hurdles now that I can foresee
2 How much can we ramp up production in the near term. - BOPD please

Get those 2 sorted and we may see an end to dilution at lowly SP's

The new discovery is the icing on the cake and Art will surely be waxing lyrical on that one.
An idea of timelines to prove up and an idea of quantity of P2 reserves would be nice.

Todays RNS is surely the reason the the RS report was sold into.
Financial advisor/brokers are not investors. They got well paid for what they did. AND made a nice 10-20%
bonus by selling the RS report news. Easy more for some.

Am just needs to get the RBL confirmed and also ramp up production to get us cashflow positive.
It's the placements, bonds and warrants that have been messing with us which also allows the parasitic shorters' to exacerbate the lowly SP.