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I don't believe the criticism he has received will bother him at all, the personal insults well that could be a different matter. He should be fully focused on the fun part now if things are coming to pass. He, like us, has waited long enough for this.
We will be nowt other than fleas on a bears arse, occasionally irritating but nothing a dose of forward momentum won't cure.
Amen to that Panamabob..
Shaa. All we ever wanted from Art was reasonable communication and sticking to deadlines.
All will be forgiven if he delivers this time and on time.
Lol, I was just musing what would I do if I was in Art’s position given the abuse at times Art has rightly/wrongly received on these boards (which I am sure he reads), what would he do?
Probably let us sweat and and leave it until the last minute!
Yes, red tape and bureaucracy.
Just a matter of time; lots of patience!!!
All good as far as I can see. Takes time for getting new % interest registered with Govt. Etc. Hence the wording, when completed. Nigerian Govt has to update new interest of all parties.
Why would Shorecan otherwise agree a drop from 80% interest to 30% ?.....EssarM paying $50m and providing free carry to shorecan to first drill. Shorecan can buy extra 20% interest from cashflow from 1st drill revenues.
Just a matter of how quickly the Govt updates their records in my opinion.
Other option I suppose you have to derisk it yourself if you wait for the agreement to drop and then buy in at a higher price say around 0.50p I would guess incase the agreement falls through but miss the initial rise and have a higher average going forward
The parties involved are ShoreCan, who want this drill, Essar, who are $67 million down and want this drill, Nigeria, economy about to enter recession and need this drill.
Yes, the big bucks are sitting this out as they know how cheap COPL is and even when the agreement RNS comes in, there will be plenty of opportunities to come on board and make some real money.
Yeah exactly, if we all knew it would drop we’d all sell now and buy in lower, but if they pull this off definitely 1-1.5p is on the cards so the upside is huge imo
Can’t answer accurately with SP Sam but if it drops, hopefully investors topping up, new investors, day traders etc will take this up.
Anyway, it’s all bye de bye at present as nobody knows.
Shaa as a long term holder would you say if this agreement isn’t agreed we would head back below 0.10p from here? Just want to know if it doesn’t happen where my position would be as I know I’m quite late to the party with an average of just over 0.30p
This is the wording of the Q1 30-6-20 results -
"On June 4, 2020 the Company announced that the shareholders of the Nigerian Affiliate had reached an agreement in principle to resolve their disputes. Completion of the agreement is ongoing and when completed ShoreCan's shareholding in the Affiliate will change in accordance to the terms outlined in the Press Release. The Affiliate holds an attractive oil appraisal and development project in shallow to mid-water offshore Nigeria on its 100% holding in OPL 226. In other ventures, ShoreCan has been indicatively awarded an exploration license onshore Mozambique in the 5th Licensing Round adjacent to the producing Pande-Temane Gas and light oil field complex."
I can't see that it is any different to the wording of today's RNS.
Completion is ongoing - there are still things to do to complete.
News likely Friday - either a) it is complete, b) it has fallen through, or c) they've agreed to extend in order to to tie up loose ends - I suspect the latter, but am no better informed than anyone else.
The big bucks are clearly waiting this out - if (when) it starts to move - place your bets.
Invested here FWIW.
Shaa, thank you hopefully they pull this off for all share holders an update would be good either way, just hope if they say talks are on going we don’t drop too much in the mean time
Confident yes but also a realist.
The agreement is not required by law or the London Stock Exchange, the 35 days can be extended, so we could easily get an RNS later in the week saying talks are on going, everything is still agreed but not yet finalised.
It will happen as it’s in all of the parties interests to make it happen.
Shaa do you feel more confident with that statement at the bottom of the RNS everything is falling into place?
Also “ Completion of the agreement is ongoing and when completed“.
WHEN completed, not CONDITIONAL or IF or MAYBE or HOPEFULLY.
Just noticed at the bottom of today’s RNS.
“ On June 4, 2020 the Company announced that the shareholders of the Nigerian Affiliate had reached an agreement in principle to resolve their disputes. Completion of the agreement is ongoing and when completed ShoreCan's shareholding in the Affiliate will change in accordance to the terms outlined in the Press Release. The Affiliate holds an attractive oil appraisal and development project in shallow to mid-water offshore Nigeria on its 100% holding in OPL 226. In other ventures, ShoreCan has been indicatively awarded an exploration license onshore Mozambique in the 5th Licensing Round adjacent to the producing Pande-Temane Gas and light oil field complex.
Notice anything?
Apologies to start the heading RNS.
As we are at a stalemate at present, I still think the agreement RNS will come when both markets are open same time as Canada are now showing more activity.
Any thoughts?