Canadian Overseas Petrol... Share Discussion Threads

[edgein] 07/9/2021 09:53

LB28,

Is that why you keep pretending to hold on the LSE threads? All that balance, everyone can see right through you.

Regards,
Ed.

[lb28] 07/9/2021 09:49

He can’t Scott, edgein is just a paid ramper. It’s a dog.

[edgein] 07/9/2021 09:49

Scott,

No problem. The case for COPL is that they picked up 31mmboe for $2.18/boe for a total of $54m, also at last count they had around $15m in cash at the last Q results. So the cap now is around the value of the hugely discounted price that COPL paid for these assets.

Since then though the oil price and the underlying value of the asset has risen from $39/bbl to approx $70/bbl. Sending the NPV up to around $300m. Also production has increased from around 700bbls net to around 1600bopd net from the first few months since COPL restarted the miscible flood. Production is slightly restrained by the current infrastructure as COPL expected this level of production around year end, not by August. As Art pointed out these upgrades won't cost much and won't be long before production continues on its steep incline. As the company pointed out during this period injection rates were 6.5mmcfd out of the planned 10mmcfd.

Moreover since the company relisted they've announced an additional discovery from the fed deep well, therefore more production and eventual reserves. Imo more likely to be completed at the Shannon and add production to the BFU as those deeper formations require long lateral and fracc'd wells. But very positive for the future of the company.

So the investment case is stronger now than it was at $39/bbl oil by a long way. But what has happened is we get in lots of small get rich quick punters and they've sold and continue to dribble out and don't care about the operations of the company or asset performance, they'll likely be off chasing the next spike. That's why around 80% of retail punters lose cash and end up with multiple accounts and troll the boards, they don't like the successful 20%.

I'm much more bullish on COPL than ever before as the operations are going full steam ahead and are set for a strong year end. I'm not in a rush, who buys or sells or holds to there or beyond is completely irrelevant to my position here. Relaxed, feet up and waiting for the next updates.

Regards,
Ed.

[edgein] 07/9/2021 09:22

"cound past 10"

Georgie, the bell has rang you should be in assembly by now. Make sure you tie your laces before you go in, if you can remember how that is.

Regards,
Ed.

[scottwhetton] 07/9/2021 09:20

Ed , im happy to listen but how can you make a case for this at the min? From 0.38 close where folk were expecting anything from 1-3p to struggling to hold 0.32 ? Genuinely intregued mate .. Cheers

[gheorghedufiend] 07/9/2021 09:19

Billthebank - are you regulated to be giving fiancial advise ?

By the sounds of your moronic rants I would say you have to take your shoes and socks off to cound past 10

[edgein] 07/9/2021 09:14

Man they're all out from under their rocks this morning. I wonder what's stirred up all these penniless vagrants.

Regards,
Ed.

[scottwhetton] 07/9/2021 09:14

Turning out to be an absolute Dog this

[lb28] 07/9/2021 09:10

Ed you silly tw@t.
The ramp crew must be so glad LSE is down lol.

[demark] 07/9/2021 08:52

do these sellers know
something you and i
don't!

time will tell!!

[jambam] 07/9/2021 08:52

if you're quick enough, hope over some of COPL to MOS. MOS about to break out

[phurley] 07/9/2021 08:49

Its taking an absolute pasting. What a disaster - all that wait and its lost 20 per cent already

[greatfull dead] 07/9/2021 08:15

Ed,

I do hope Art is currently looking at a possible acquisition.

ATB,
GD

[edgein] 07/9/2021 07:45

Dan,

The production sure is spiking up already, hopefully the share price will be more gradual though and the traders will lose interest. Looking forward to the next update. I guess most likely on the new discovery well, but acquisition is also possible.

Regards,
Ed.

[dandadandan] 07/9/2021 01:25

The churn is mighty.

You need lots of patience.

Sit back and relax.

The up spike will be next.

DDDD.

[edgein] 06/9/2021 15:01

Oh dear Gregpeck's UOG taking an absolute hammering today.

Regards,
Ed.

[phurley] 06/9/2021 13:44

Broker also thinks dilution coming.

[saint in exile] 06/9/2021 12:40

Your filtered mate..I can't hear you

[gheorghedufiend] 06/9/2021 12:33

saint in exile - the share price is falling again because the shares aren't being "hoovered up" you moron

[saint in exile] 06/9/2021 11:57

They're getting hoovered up on the cheap.Months of suspension followed by drop will shake out most PIs.Hold tight