Member Info for SteveV

I see one of the short term objectives is to.
" Optimize and increase oil production at the operated Barron Flats Shannon Unit miscible flood".

CUDA acquisition has taken us from 58% to 85% on that one.

Has Art been holding back on that until now until CUDA was over the line. Really open the taps now !!?? Get some revenue in.

I don't think there is anything left to short now. No point shorting the warrants as the sp is already at that price.

Onwards and upwards from here I think.

I predict 5% blue tomorrow.

Timing...well you hit the nail on the head there. We'd all be millionaires if we got the timing right.

The odds are stacked against the private investor. But then sometimes we are our own worst enemy. Looking for that growth stock that will multi bag. BUT there is always a lot of risk with that strategy.

Wise words Dealer. Which stocks are you hopeful of coming good soon. Any tips you'd care to share?

It is reassuring that we now seem to have a "lead investor" that you would expect to have a vested interest in the company doing well.

Compare that to the last placement which seems to have been heavily presold by the placees'. They weren't invested,
they were money men happy to make a quick buck at shareholders expense.

Moving forward we have the RBL to create even more stability.

p.s Did I mention....."it's a big number"

I am feeling like it's going to be a blue day Monday.
CUDA confirmed.
Week after, RS report? (it's a big number")

1 to 2 weeks for the RS report Art said.

I think he has the report or certainly knows what's in it. "it's a big number"
I think our new "lead investor" who organised the bonds knows what's in the report "it's a big number"

It would appear that the report is lengthy and detailed and quite technical. RS have clearly been at pains to ensure they are happy with what they sign off on. "it's a big number"

Interesting on the Proactive interview that Art said that todays financing was a more favourable deal than the bridging loan. So the bridging loan must have been a shocker!!! We'll never know now.

Yes Johnny, 54,792590 warrants at 16.75 = £9,177758.825. That is cash coming to COPL if the bondholders choose to exercise.

The Bonds themselves CAN be paid for with cash by COPL upon maturity. So no dilution there if we have the cash to pay it back in 24/36months time. (or other finance to pay it with)

The bonds themselves are for $25.2 and only give COPL $19.7m. (quite a fee there !!)
BUT that doesn't really bother me that much. If CUDA is such a bargain AND will be transformative to the business $25.2 for CUDA may be regarded as cheap to some.
The interest on the bonds is quite steep, and there is a settlement fee, but that is the price you have to pay in this situation.
The RBL, if and when finally sorted, should provide much more reasonable terms.

So, Ryder Scott to confirm "LARGE" numbers soon.

I am expecting them to be a least in line with COPL's estimate (circa 1.5 billion barrels OIP)
150 wells at 2000bpd !!!!!!!!

Yes, pretty shockingly onerous bond deal when we were expecting a standard bridging loan.

BUT, CUDA is ours now and we will have it Monday. I am guessing the sp will recover a small amount before close today and then again Monday when we get the CUDA news. (And whatever else Art cares to divulge.) Is the RS report sitting on his desk waiting !!?? The pain today may become fairly insignificant if things go to plan in due course.

I'd be surprised if we don't go up another penny at least tomorrow.

As ever RNS's sometimes leave a lot to interpretation.

Is the payment for CUDA from a bridging loan which will be replaced in due course by the RBL or does the reference "in tandem" mean that there was no need and the RBL will be in place and used for CUDA.

Regardless. I think it matters not. Things are moving forward and hopefully begin to pick up pace. We are at the start of a plan that could be VERY fruitful.

p.s. don't make any investment decisions based on what you read on bulletin boards (good or bad)

Thanks Harry. Interesting. Maybe we can go it alone !! Sounds a lot cheaper and quicker.

How much would it cost and how long would it take to drill 153 wells.?

"...Further announcements on the Acquisition will be made upon closing..."

So, just another week to wait before it really starts kicking off.
Art is clearly holding back the RS report until CUDA is definitively officially in the bag.

30 CAD is only 19.36 GBP. Nothing to get excited about.

Given that Art seems to rarely stick to his timescales I don't think there is any guarantee that we will get news a day or so after 18th July.
Cuda will happen. It's nailed on IMO. It will be announced in due course.

Well I hope you are right Panama.