London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sending good week all.
Woodie
Tomorrow is indeed another day closer to our jubilant AGM.
After reading the learned posters input, since Fridays "fumble in the dark", release, I have rationalised that my money here will see a large return.
Current AGM status is:- rose petal.
Red dot expected.....
Chin chin
https://www.premiumtimesng.com/news/headlines/486864-buharis-men-plot-capture-of-nigerias-petroleum-sector-with-controversial-appointments.html
Buhari can't win if he says he is implementing an anti corruption element, they say he's corrupt
if he appoints someone in a position , they say they are also corrupt lol
:))
Can also sell more oil and get more money rising daily with 85% vice 57% lol
:))
IF Carlsberg did RNA messages Tomorrow would be
0700 Clarity that consolidation is to go ahead on the 1st October per brokers tip off lol
0730 Operational update MF still exceeding expectations and flows now at ,,,,,,
1430 Update on Deep drill and some staggering potential for future Horizontal drills
2230 Sedar release Arty delighted to report in negotiations to acquire CUDA with support
of its creditors and financial support by NEWCORE investor who will fund the entire
acqusition for a direct equity stake in copl, deal T.B.D. on completion of due diligence
by NEWCO and expected to complete in mid October
0700 Tuesday London as above
0900 Copl Auction our with UT trade 0.55p lol
IF only Carlsberg ,,,,,,,
:))
They can get money from selling oil?
Those 1.5b at 0.26p alone would raise £3.9m for the Copl war chest lol
:))
Older warrants on the books but nope
the £6m placing at 0.20 for 3,000,000,000 shares had secondary placing warrants
at 1/2 Warrant per share issued = 1,500,000,000 Whole warrants
Since March over 1.553 Billion warrants have been exicsed in excess of the above 1.5b
so older warrants have also been excised already as part of this mega churn
Posted the other day and just going back to last June warrants issued at 0.15 0.26 0.39
Options at 0.35
Included on a singe RNA message 3 lots 100m , 25m and 16m total 141m to YA/RGO at
the 0.39p could be they where exicised in the expectation of a higher return and part
of the mass dump that saw return at 0.6p rapidly fall back sub 0.4p
So how many legacy and remaining 0.26p remain any ones guess lol
:))
If I've learned one thing this year.
Markets really like clarity. They like it more than value.
Conversely they also like million to one chances.
yep BG well and truly screwed themselves with a cheap deal to B.P for a mere 30mb lol
been American , Russian and all sorts in there over the years last read think Perenco
had the operator duties all made massive profits
Its an weird one , they think its just constantly being filled from a huge offshore reservoir
through some faulty geology, even more weird several have drilled nearby offshore and
some have found small oil reservoirs but no major gusher that might be the source of
Wytch lol
:))
That's pretty much as I'd thought.
My main reason for pessimism isn't so much consolidation, or even a... limited... placing. It's the way we found out, if we did.
So hopefully that will be clarified.
All depends what lands fingers crossed to clear the confusion an RNA message over rns
to say at least oops AJB fcuked up and we can confirm ,,, first thing
but Arty being a fully paid up member of the mushroom packers association
who knows
The 3-4 weeks mentioned in a previous RNA message is also up this week so fingers
crossed he props up the consolidation news with a Deeps update and then operational
update on Shannon/MF still exceeding expectations and all that good stuff
:))
I hope you are replying to Duc996.
*checks news*
According to the news we will all be dead by then.
i believe wytch farm near poole had its licences extended by dorset county council to 2037
Any thoughts on tomorrow? Just to bring this back on topic.
fyi read a lot of local press and gov stuff , geological society etc
so one of those but a generic article with the perhaps inside lol
:))
Shaa
if your refer new discovery per Nigeria with 4 discoveries on the license and it is the
first of those that the new drill will be aimed at then call me old fashioned but that
would normally carry a 75-100% COS rating lol
:))
Tiburn
was reading something the other day , can remember the source it suggested that
several companies working in the Powder River Basin where in line for an upgrade
in previous reserves as successful production and developments over the past two
years give rise to a probable substantial underestimate in OIIP
So also the possibility our reserves may also be in for an upgrade , never know your
luck Wytch Farm down south started off with BG and 30mbo and 40 years later after
BP peaking at over 100.000 bopd FFD still had reserves 250mbo lol
and pigs may fly but as they say until you flow you just don't know and we have
the massive production potential of Horizontals on the Deeps reservoirs
:))
as posted before lethal now all down to Arty filling in the questionnaire
WHO is he working with for future financial needs
WHAT is the rationale behind the consolidation , funding new AQ, cuda etc
WHY suddenly now
WHEN does he expect to complete event
HOW will the pending event be implemented basis Cash, shares , mix etc
:))
HFB brilliant mate thanks v much for the deatailed response , il look forward to the verdict
Nigeria will happen quickly once the Nigerian Regulators play catch up we are just one of
over 50 expired licenses awaiting extension and 100+ by 2022
The press reports over the past couple of years have blamed the need to have the clarity
of process to be implemented by the PIB ,that was signed off into Law by President Buhari
in July so Essar could be moving up the clearance list
Once in place Essar have already stated ready to fast track a 3 drill program , followed by
18 Production wells on the first of four Discoveries across OPL-226 , They will want some
return asap , they had already spent near to $80m on the license
At this stage we have very little to do with it, ShoreCan only has 10% on free carry of the
Initial drilling with an option for a further 20% giving Shoreline and Copl 15% each of
what Essar plan as a target 5000bopd plus per well( 5k-20k common in that local)
With a target of over 100.000 bopd in FFD
Until drilled and decision made , Arty has ZERO large financial commitments for Nigeria
win win lol
:))
lethal all depends on the type of dilution a vast difference if a core equity investor v wonga lender
IF he waits until after consolidation on the back of news and our 32p now turns into 60p
then he raises £20m at 50p that's 40m shares to churn vice 6,250,000,000 here at 0.32p
IF that placing is to a core Investor that will stick around not dump , say the £20m is for
CUDA our reserves become around 44mbo which at the local NPV10/RR used in 9/9/21
CUDA report is now $10.50 a barrel
44 x $10.50 = $462m aka £337.62m
£337.62m divided by now 196m shares in issue is £1.72p based on local rate reserves ONLY
current £50m MC + £20M = £70M with a base value of £337.62m
ZILCH in for now having 85% or Atomic daily revenues , Deeps , Nigeria etc etc
All placings are dilutive to share base but not all are like rainbow chasing AIM exploration
companies keeping the lights on
We or at least I hope , Art has thought this one through and news of the consolidation will
be tempered by split 2 or 3 UPDATES not blurb together in one for maximum impact and
momentum allowing a share price recovery FIRST
Then placing for Acquisition of CUDA or what ever he has in mind, if it has to be another
wham bam churn it will not take long at the higher price eg above £20m / 40m shares
In my case I am hoping Arty has pulled , no not Lilo Lil , a Direct equity Investor from the
road shows he has been doing, its still a placing but usually results in a share rising as
the core INVESTOR not wonga lender, will not be selling or de-risking until much higher
and remain a core investor, funding each following rise and increasing its holding or
maintaining a % of choice
Again in their interests to have a rising not falling price, the 10% of company held growing
in value and Dividends on that core direct equity holding when Arty feels the time is right
has said it is copl's intention to become dividend paying
Let's just see what comes in the rns mail this week before we all start planning how to lynch
him at the next face to face AGM lol
:))
Nigeria/big commercial oil discovery = rocket? But Nigeria won't happen tomorrow.
This already started to if not rocket then vigorously pedal uphill to 0.39ish before the sells hit it. It's not one of those out of favour stocks no one gives a damn about whatever it does, though it could become that after some of the worst case scenarios discussed.
Unfortunately Lok as much as it pains me to say it i dont think you can put rocket and this share in the same sentence