The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I emailed Cathy and she confirmed JV and NDA very much in play however hadnt heard anything new on RBL.
The view of the company is that PIs panicked and dropped the share price as its mainly PIs that hold.
I think the abuse AM got from PIs has made him withdraw from communicating! IMO
No mention of CC. Is this shut in as only Shannon mentioned.
From November 2022 - Six wells have currently been identified for recompletion in the Frontier 1 at Cole Creek offering a near term low-risk opportunity to materially increase oil production and reserves.
From latest RNS
The Company has restored normal operating conditions at Barron Flats (Shannon) miscible flood, following recent storms. A full operating update will be published at the end of March along with the publication of the Company's Annual Financial Statements and Management Discussion and Analysis and Annual Information Form.
Arthur Millholland, President & CEO commented: "We thank our Lender for their continued support as we work to get the full field back on line as the conditions clear up. Our principal stakeholders are working together with the Company to exit this period stronger than it entered with a further update expected in the days ahead."
The below has been followed so far.
The Company is working closely with its professional advisers to negotiate and secure a new senior debt facility, which the Company is targeting to draw down prior to 31 March 2023. The Company has engaged with numerous US and International banks and institutional debt investors and expects to secure a term sheet based on its 2022 year-end reserve report for the Wyoming Assets, which is expected to be available in late February 2023 and, will be published in late March 2023 at the time COPL files its 31 December 2022 annual audited financial statements. The Company is also actively negotiating and intends to issue additional 2025 Bonds and warrants pursuant to a second tranche of the Winter Bond Financing (announced 3 January 2023), which is expected to close in February 2023 to support its near-term capital requirements for the Company and its affiliate, COPL America.
I had comms with Cathy this week and the news of increasing production was a real positive for them and although given nothing specific, the email response is talking about news before AGM and investors concerns will be behind us !