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Moat analysts seem to be predicting oil prices to continue to be buoyant for this year and 2024.
COPL will not doubt be at least doubling their output in the next few months.
Then we got the JV to come.
SP should continue to reflect this.
Combination of things I guess.
SP artificially low just recently
Bondholders stopped converting
Shorters closing out
Upgrades complete in a few days time
JV imminent
Price of oil buoyant.
COPL could end up cash flow positive in a few months.
Take your pick....OR, ALL of the above !
A signed JV with some upfront cash would do wonders for the sp.
IF we could at least buy back the 2027 bonds(only $12m) with cash then the dilution probably stops.
Our "Cornerstone" investor won't exactly be "Cornerstone" if they keep selling the 2028 bonds. Just money grabbing, greedy, amoral c~~ts.
The whole point of bonds is to loan some money and make a decent interest return when they expire, not destroy the company you lent to!!
Art keeps telling us the JV is close but complicated.
No doubt the arrangement will involve CO2. Do the JV give us the CO2 for free? Who gets the tax credit the JV or us?
Probably depends on the terms of the JV. (who is paying for what, who is delineating the Fed deep, what % are the JV looking for)
It is clearly more complex than a standard JV (without Carbon enhanced recovery/capture)
No Bamb's post has not been deleted.
07:58 this morning.
"OK this is a summary of a brief communication yesterday. The Joint Venture is ongoing (they would RNA if it wasn't as everyone knows) and is in closure stage. It is very complex and once announced ''the share will respond very favourably''. As some of us alluded to, I get the feeling as the share price stops falling we will get the news flow. GGS going well, to budget and time and end date on course for late July, as we already know. But everything reported in last ops update still going to plan. Company continue making G&A savings across the business. Arthur's next news he hopes will be when he announces the success of the repairs/improvements. As said there will definitely be no share consolidation in the short term, certainly not at these prices. Certainly not at 0.5 as some seem to be saying. If consolidation does happen it will not be before 'oil production improves substantially'.
Good Luck. Over to the bashers FartFood, hillsillybilly and athena...enjoy another day of spouting, unfounded crap...did you know negativity and toxic behaviour reduces your life expectancy? Enjoy! ...."
Might see a tick up today after all those dragged the sp down.
https://www.londonstockexchange.com/news-article/COPL/conversion-of-bonds-share-issuances/16044578
Its all about the field upgrades.
JV want to see if the high pressure upgrades make the field perform. They don't want to be pumping all their lovely CO2 into a no hoper that can't handle the pressure.
The RBL is waiting on the upgrades. They want to see how much oil we can get out of the ground. Don't want to lend money to a no hoper.
All about the upgrades.....Not long now to find out. !
I don't think the upgrades could have gone any better.
The uptick in production should be substantial. It's not just the kit upgrades but lack of disruption to the wells whilst it was in progress. No reason why all wells cant be pumping now.
Just looking forward to seeing how much more oil comes out of the ground over the next few months.
Yep its all going to kick of next few months.
Get all the new kit installed and commissioned
Start pumping in high pressure gas
Production gradually ramps up significantly
Become cash flow positive
RBL gets agreed
JV gets signed
Start drilling the Fed deep.
All before the year end I think.
Stan you're not getting the hint. Nobody is interested in what you have to say.
We like it here , it's a risky stock. We might lose everything or make a VERY tidy profit. OR somewhere in between.
It's our choice. We don't need your opinion or advice. Thanks
Pretty solid update. Looks like the high pressure system install couldn't have gone better!. Pipeline ALL layed. I was expecting mid July earliest. Bit disappointed we aren't up to 1500bopd yet though.
Arthur is saying "which should result in a return to the previous production peak and an increasing production profile."
Well we peaked at 62,415 barrels in Aug 2021. But what does an "increasing production" profile mean? Expect 62,415 then more on top?
Also great news that the new kit should work fine over an Alberta winter.
I had been predicting 2500bopd by end of the this year. I think we should do that.
If you believe COPL will come good 2p is a great buying opportunity.
If you think it will go bust you should sell now and suffer any losses (better than zero)
If your not sure what will happen then maybe do nothing!
It's not hard.... you just got to choose one of the above!
I am expecting circa 2500bopd by the end of the year. Some are expecting/guestimating more.
What I would like to hear from COPL is: What is their cashflow positive bopd figure.
We need to start making money. Show the JBL and the JV we are a profitable concern.