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This will wake you up!
Original APD on our Confidential Well BFU Fed 14-30VF states NO to Sage-Grouse Population Area.
https://dataexplorer.wogcc.wyo.gov/?keyName=PKey&keyValue=1769&keyType=Integer&detailXML=EntityDetails.xml&DETAILSONLY=True
click on Well View
click on View APD - page 3
I take your point Bridedogg1 but even 1,000 bopd unhedged oil from one small horizontal is still a massive increase in production for COPL given that we believe the horizontal wells do not need to be that long a length in Wyoming.
I await the drilling plan but Possible 1.5bn oil needs to be drilled and tested before it moves to Probable and then onto Proven. We have to drill somewhere and the quicker we move the 1.5bn through these stages the better.
Hi Tilburn, re point 2- pipeline not on critical path now. If the top hole fixes fix 90% of the our pressure issues then could you see monies being better spent on a strategically placed vertical well or even a horizontal well to start proving up some of the find?
The seller seems to have to sell bigger chunks to keep this down and then follow up with smaller sales. They will not be able to hold this down for long with a 1.3bn discovery going into Ryder Scott's intray.
Tilburn - please keep up the great calcs as people still haven't got it.
£10 puts us at £2bn MC which is nothing for this discovery. Waiting for Ryder Scott to confirm the numbers then we will see what is what.
Very very nice RNA. I would very much like 50% recovery of 1,600,000,000 barrels of oil at +$80 per barrel please.
Like the self-funded and 3 Horizontal wells per square mile very much.
Well done SWP.
Super Fantastic Unbelievable Boom Wow Amazing #COPL
I look forward to that future illusion but when Nigeria happens (yes i am still confident given the current issues in Nigeria) perhaps the leopard could change his spots and do an Open Offer as his PIs would surely appreciate it and i am sure support it and his IIs participate as well.
As i said this morning. See what SWP and increased gas injection can do to just a few of our BFU wells:
Name of Well, Increase in Gross Prodn Sept vs March
BFU 21-35-76 688 5762 +838%
This is our little beauty that Panamabob suggests could cover 75% of our costs!
BFU 44-21V 2987 6126 + 205%
BFU 22-27V 3985 5625 +141%
BFU 42-28V 715 1693 +237%
BFU 34-20V 867 2618 +302%
BFU 23-27V 3910 7814 +200%
I think the well in question could be one of these. The Gross production figures on the WOGCC Data Explorer shows the fantastic simulation is working a treat on these BFU wells.
The figures are gross production figures per well from March and September and the massive increases achieved in production by SWP.
Name of Well March Sept ncrease in Gross Prodn Sept vs March
BFU 21-35-76 688 5762 838%
BFU 44-21V 2987 6126 205%
BFU 22-27V 3985 5625 141%
BFU 42-28V 715 1693 237%
BFU 34-20V 867 2618 302%
BFU 23-27V 3910 7814 200%
Hi Wookiemonster,
Decommissioning is not an issue at present - See Page 17 of the Prospectus - 'Furthermore, as the infrastructure at the Wyoming Assets is relatively new with short or medium term limited decommissioning risk.'
FYI - the lender warrants are specificaly mentioned as being excerciseable JUST against COPL AMERICA and not the/our COPL Group (COPL)
The lender's loan final convertable warrants valuation of COPL America i believe is included in the notes being approx $5m at present.
1) FINANCIAL RESULTS - Three Months to June 2021 - Management’s Discussion & Analysis –June 30, 2021 - Page 11
Unrealized loss on commodity derivatives - crude Loss of $9.437m
Unrealized gain on commodity derivatives –butane Profit of $7.165m
I believe for the accountants out there that we should look at the NET position to COPL as the Unrealized loss is pretty much offset by the Unrealized profit on the Butane hedge. The Butane hedge was a great deal for COPL.
https://sedar-filings.thecse.com/00021327/2108311555580552.pdf
2) Property, plant and equipment(“PP&E”) Note - Management’s Discussion & Analysis –June 30, 2021 - Page 15
Petroleum assets relate to two oil producing units that were ACQUIRED further to the Atomic Group Acquisition. Extra production anyone...
3) Filing - Southwestern Production Corp requests confidential status for the subject well based on it
being an exploration well rather than a development well. The well was drilled at the request
of BLM to identify other potential producing horizons in the Barron Flats Deep Unit in order
to keep the unit from being dissolved. SWPs prior development has been in the Shannon Sand
which is now part of Barron Flats Shannon Unit. There are currently no wells in close
proximity to the subject well that produce out of any formations other than the Shannon. SWP
requests for the information of this well to be held confidential while evaluating other
potential horizons, and what a new discovery might mean for their future development plans.
Additional information can be provided at the request of the Commission.
WOGCC Rules - Confidential well status is WITH agreement of Supervisor.
From Rules section - The making and filing of reports, well logs, and directional surveys on exploratory or "wildcat" wells marked confidential shall be kept confidential for six (6) months after the filing due date as required by subsection (a) of this section unless the Owner gives written permission to release such information at an earlier date.
However, there is a report below from 2012 on Horizontal wells (SWP Fed Deep is a Vertical) which argues that it is up to the Commission Supervisor if the Production and sales data also qualify as confidential. Thus we may get Production figures...
https://drive.google.com/file/d/1TgHYfeUxHCkkUd6MbFm9_nzfFh5Gjt5K/view