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Leew,
It hasn't sailed yet as no offers have been announced yet, I was suggesting that if a price is agreed that the funds could potentially be frozen based on the evidence gathered to date. However if a package did arrive that would allow the restructuring of the company then that would clearly be unwise to do so as that could eventually lead to the full development of the large assets with a potential new partner. That I would imagine would be a long short given the time remaining. But lets see. I was just referring to a straight up cash offer and a potential gross undervaluation of the assets/reserves. To complete on that it would have to go through a legal process etc and that was the timing that I was referring to, so there would be time to act on that yet. As for contacting those big companies, even if many junk mail it, some may not.
Regards,
Ed.
Yes the optimism is coming from there Alfresco, but my opinion is that I don’t see the current process being beneficial for retail SH’s so my assumption is we are all going to need to go for the long hall legal route.
Would love to be wrong of course
I to have renewed optimism after RBM statement ,,,is it a case of getting something back in the auction .or waiting to take these air holes to court ,,Thanks everyone for you’re continued support
EDD'' the latest from RBM say given the strong indicative interest being shown in the COPL assets, we are monitoring the situation closely as a restructuring solution is still a possibility. ?? that could indicate at least 20 CO is already showing an interest ? so it would be folly to stop the sale process right now'' if it could means $200m + as we must have missed that boat with the approval by the Judge of the CCAA process, but we only need 1 good BID that beats the stalking horse and it could be 1 of the 145 CO that S20'' kindly provided on the list ? FK knows, as sometime you won't get an answer where most big CO with enough DOUGH to buy an asset of this magnitude, would be grateful for the heads up'' but would silently BID'' without been compromised by someone letting the cat out of the bag by posting names of interest''
Just a thought for people asking STAS, if he have had any reply ?? as it may not be possible to tell you that information as he himself will only get standard letter back, saying thanks for your email, and not worth posting here
Regards
An interesting article related to the valuation of assets in bankrupty of E&P companies in the US. Good background reading.
https://www.bloomberglaw.com/external/document/XFT6LBJ8000000/bankruptcy-professional-perspective-valuation-issues-in-oil-and-
'Some seem optimistic or implying interest but would need at least 2 interested parties to go against each other and not sure the time is available for that.'
leew, I am sure that the optimism over the weekend comes from this statement by RBMInvest at the end of last week:
'At present, given the strong indicative interest being shown in the COPL assets, we are monitoring the situation closely as a restructuring solution is still a possibility. '
It certainly has given me some optimism, in the hope that it leads to more than one LOI before the dealine of 17th April. Of course, the SL also has the option to join in the auction if they have a strong buyer for the assets too, so one other bidder could be enough. I would, however, love it to be several bidders!
Ok Stas. You may have noticed a kind of Hiatus on post numbers lately. I don't pay as much attention to the daily movements as I did previously. I guess others are in the same frame if mind.
Hence my request for an example others can use for their own email.
I was attempting to reinvigorate interest in emailing prospective suitors.
It certainly would no do any harm
Thanks RBM and CAG. All sent today
Keep up the good work
Thanks for taking on the bullies for the smaller people
Edgein, that boats sailed I guess, as has reaching fair value in the current process.
Some seem optimistic or implying interest but would need at least 2 interested parties to go against each other and not sure the time is available for that.
Maidit,
That would be ideal if the CAG and their representatives could put a freeze on any sales proceeds until the case has been heard. As Stas says it won't do any harm for folks to contact companies they think might be interested in developing COPL's large reserves and resources.
Regards,
Ed.
Bob I have put all my letters on here already, users here only need to search my posts.
Hi Stats20,
It's good to see you reaching out and trying to get engagement for the assets. Can I ask how many responses you received from the 145 emails you sent?
It has been a complete sh*t show from the company management and Bond Holders. Hoping shareholders get some kind of return.
Or £1 lol
To be fair it’s rounding the price to 0.06, but yes got 18m shares roughly. I’d be happy for 0.5-1p
Just hope people are still getting the word out,if we can get a fair price would really help
It's all guesswork until the auction and how many are at the bidding stage anything can happen. I'm a tad more hopeful than i was a few weeks ago but that's all I'd virtually given up all hope. We'll see what happens.
"Our chairman has already stated that the assets are worth less than the debt"
I don't believe anything any of them say.
Thanks RBM and CAG. All sent today.
GH
I have 1.3m shares that cost me around £45k
If £100m clears the debt then anything above that gets shared out between a now colossal (thanks Anavio and our Chairman Mr Richardson) 3.5 billion shares. (quite a lot of which are owned by the loan sharks Anavio)
So IF someone comes along and offers £200m that is £100m to share between 3.5billion = 2.85p per share
I get approx. £37k
I could live with that small loss BUT are we going to get any where near what the assets are worth. ??
Our chairman has already stated that the assets are worth less than the debt. AND I fear that is why we are going to get low-balled and end up with nothing.
You must have about 25 million shares
Arthur, it makes me sick every time I log in and see £9,812 at suspension…I pray to god that something comes of this all.
Don't forget there are now 3.5 billion shares in issue due to the Anavio loan sharks and facilitated by our chairman.
Outrageous dilution for a few $m
The trouble with liquidators in a fire sale is they only want to get back enough to pay the debt.
Shareholders mean nothing to them.
We need well over £100m get any any sort of return. £200m would see me clawing back some losses. £300m and I'd be in profit. VERY doubtful anything like that will happen though.
Yes a bid of £100 million what would that get shareholders back I’m down 40 thousand not much per share I would think