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Lioness as I understand it the $400,000 will be reducing debt by issuing equity. It will not be a payment in to COPL bank account (we have already had the funds from the bond, prior to CUDA acquisition closing).

Very appropriately named.
The last RNA mentioning our reserves was the CUDA Acquisition on 26th July:
· Increases COPL's 2P reserves by 47% from 25.8 million (COPL December 31, 2021 NI-51-101 Reserves) to 38.2 million barrels

The most recent RNA, the one entitled "RESOURCE report" referencing nearly one billion barrels are not reserves.
If you do are not sure on the difference between resource and reserve is in oil I would suggest doing some research on the subject, it is extremely important that an investor in O&G understands the difference between the two.

COPL don't have 1 billion barrels of oil reserves they have 38 million barrels.

Nice bit of volume today and very nice to see the SP going positive on the back of it.
I'm not sure comparisons to Canada are hugely relevant due to their extremely low volume yesterday (23k) but it will be interesting to see how it reacts today as they only had the news after close yesterday.

Haven't been on here since last week. Good news announced today but doesn't seem to be moving the SP as much as most would have expected.
I notice there are a lot of new names on here all of a sudden so I can only assume those, who are so hyper positive are the ones holding us back as they're just trading us. Will COPL ever get its day?

Nice to see another increase again today. Hopefully we can continue upward momentum going in to the CUDA announcement but I am even more interested in seeing the news flow once the NDA is lifted! Hopefully some good times ahead.

One day they'll want to invest Duster I'm sure, once we start having consistent profitable quarters but they invest in near-sure things, not on hopes, prayers and whims like us PIs.

I'm not sure how you can say we are overlooked duster. We are nearly always in the top 5 share chat boards so we are clearly "on show" for anyone who uses this site.
So many posts every single day, shame 98% of it is total drivel.

Tiburn,

Appreciate the comments. I agree it is not "debt for debts sake", it is obvious to use what Arthurs intentions are with the debt and refinancing, thing is, it is risky, in the short term the market is looking at us and thinking "if this doesn't pan out how they're planning, finances are going to be extremely tight".
Once CUDA and RBL are done I would expect the market to change their view.

I do tying COPLs history in to the above does make us look far less appealing as at present, AM hasn't shown that things are different because he still goes to the well for cash as often as he ever has. The market is going to want to see us supporting ourselves and be confident that there is no need to go to the well again.

Regarding the Butane, as a poster who has more experience than I on the actual workings of oil, we have been doing quite a bit of emergency flaring, likely more to come. Unfortunately, we are pretty much blowing money up in to the air, how much of our butane do you think we're at risk of losing each time we flare?

Panamabob our existing debt model exceeds the value of the equipment, so that's a bit of an odd argument.
My suggestion that the market is pricing in some anticipated news has nothing to do with my opinion on what our MCAP should be. It is typical for shares to go on a little run prior to news... it was not a comment intended to be a reflection of the value of the company itself.

If you want my opinion on it (you're getting it anyway), then I believe we are undervalued but I believe the history of this company (placings, liberia, AM) does weigh it down as does the poor current debt arrangements, once we shake them then I see no reason why we cannot be valued more fairly by the market.

Nice to see the SP going north. Hopefully we won't see the usual downward action at the end of the day.
Perhaps some of the anticipated news is now beginning to be priced in. CUDA should close within the next 7 days.

Cuda closing has no bearing on AM being able to buy more shares. Until the RBL has been announced he is not able to buy more shares.

There are no short positions open for this share.
Nor do sell orders stop your shares from being passed to others. The broker owns your shares and will do what they please with them.

Adusiek "Have you ever checked how much are we really worth including debt in calculations. In the worst scenario current sp isn’t reflecting fair price of COPL."

Would you care to share your valuations and method please?

For how many months have I heard "it's nearly a new month and news expected soon"... I think it's been about 14 months... unfortunately we haven't had ANY news which has given us any sustained increase to the share price in that time. While I do hope news in the new couple of months can provide us with a sustained increase, I do have my doubts.
It feels as if COPL lives in the Bermuda Triangle as our MCAP disappears slightly nearly every day.

Seems to be a good amount of shares changing hands today, hopefully interest is building with impending news, less than three weeks before we should hear on CUDA.
Hopefully this is a case of "the final shake of the tree", although who knows with our dear COPL? We can only hope, however I am grateful to have had a chance to buy a few more shares at 16p and lower my average slightly.
I hope that one day my investment in COPL won't show a negative, however most days it feels about as likely as Boris doing the right thing. Good thing time is on the side of all us LTHs.

Spotify, I don't know who the following statements refers to;
"Swamp bugs are back in force, good sign if u r a LTH."
However is this the first time they have been here since COPL announced the Atomic purchase back in 2020 then? Because nothing good has happened to the SP since then!

I would love a "good sign" but I see no posters different to any other day... which if anything is a bad thing... we don't seem to appeal to new investors, COPL just has a hell of a lot of obsessed investors who post relentlessly day in day out, despite many of those claiming to be LTH they feel the need to discuss buy/sell volumes and daily price action every day.

The report from RS has to go to committee to be signed off before it can be released and that can take a couple of weeks. Art was quite clear about that.
It doesn't matter how long Art has had the report, it matters when the committee is meeting to review and sign off on the report.

Well lookey here, I went on holiday for one week, I come back and what has happened? COPL have released actual RNAs, Q1 results, MD&A, there's been an increase in SP and even an investor presentation spanning many subjects.

Based on the above I have decided that the best thing for this share is for me to go on holiday more often and in due course I will provide a GoFundMe link to allow fellow COPLers enable this to happen with the intention that in turn we all benefit from better communication from COPL and further increases in the share price.

Thank you for the insightful post Dougb.
Further questions if some of you knowledgeable folk could help. Should the reservoir contain a low gas saturation would this hinder the oil flow (prior to use of any flooding)?