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I think priorities are elsewhere and Art has enough on his plate without calls for twitter handle changes right now. :>
However I think AM/the PR can build us a new website built? manage the twitter handle better than the current description.
Canadian Overseas Petroleum Limited is a junior oil and gas company focused in Sub-Saharan Africa. Listed on LSE:COPL & TSXV:XOP
COPL website is woeful! you hearing this Arthur?
Shares have tripled, price stays the same, we now own a prized production asset, asset set to grow multiple times in production from a early life, low risk field.
Sounds like winner winner Lobster dinner to me
Seems to be a mouthful of contradictions:
‘..dilution to invest in a lucrative opportunity seems is a defensible strategy..’
‘.. if there is enough of a history of surprise, aggressive dilution, plus a strong potential of more, additional investment will be scared off..’
So, a lucrative opportunity that scares off additional investment ?!
I’m guessing that some peeps wont be pleased if they get a triple or quadruple return on re-list, on account that it was done tooo aggressively.
Ultimate contradiction though has to be reserved for investing in a stock without trusting its management and without trusting any of the fellow Pi’s opinions and thoughts.
Strange old world.
End of may or June supposed to be relist. Since then no news.
I see the stock market as a blood sport designed to separate me from my money, and act accordingly. Trust doesn't enter into it.
Everyone is just a market participant, acting in his own best interest.
Art wants to grow his company IMO, which in general is a laudable goal.
He does have a fiduciary duty to create value for investors, but how he does that is his prerogative.
Dilution to invest in a lucrative opportunity seems is a defensible strategy for sure. It functionally works like a "private IPO" in Atomic.
My concern is that if there is enough of a history of surprise, aggressive dilution, plus a strong potential of more, additional investment will be scared off.
Which I think would be bad for COPL, and bad for Caw Caw.
Better to grow sustainably IMO, using debt markets and revenue from ops. More work for sure, but better for investor IMO.
Respect your view CawCaw but it all comes down to whether you trust the management or not.
I would much rather give AM the freedom to act as he see's fit, rather can constrain him and possibly miss a 'deal'.
Without the option to issue more shares the Atomic deal would never have completed.
I know dilution is painful but as long as it adds value then I'm not against it.
Let's see how this all pans out on re-list.
Great posts and insight. Thanks.
Yes next week AGM will be pivotal IMHO.
Gut instincts still make me feel like this is still a min of 2 or 3 bags, which is fine by me after loading up on the last day...
You make your choices, and live with the consequences!!
Who knows where it will be 6 weeks or so after the,Rebirth!
PS not alleging that we were deliberately misled -- just that these projects are unpredictable and the dilution button gets pressed with no notice.
Current state is that it would be difficult or impossible to further dilute due to the 17B share float. By voting NO to the RS next week, you are voting to keep it that way.
@Roostocks asked "If we’re anticipating a significant jump in COPL share price on relist, why is XOP is still hovering around pre-Atomic levels?"
Answer: Our share price has remained at pre-atomic levels because of the dilution that was done at the same time.
The company and its' shares have actually *increased* in value >300% since the Atomic deal.
The reason you shares are still priced the same as before is that management chose to *dilute* by >300% at the same time.
In this way, the additional value created by Atomic was effectively "clawed back" from existing shareholders.
Management used the proceeds to fund:
a) the Atomic purchase,
b) executive salaries and bonuses, and
c) possibly other projects which have been vaguely alluded to
They did it by selling a large portion of the company (a portion which you previously owned) to the personal contacts of the CEO. By his own account:
A few days beforehand, CEO had stated that financing most of the project via dilution would NOT need to happen:
"This one we can finance primarily with debt" says a video message seemingly targeted at retail investors making investment decisions. Shortly before printing 10 billion shares to finance the project primarily with dilution equity.
It is very interesting to me how few people understand this, even now. They just sit there, thinking that their shares should go up because the value of the company went up. But that maybe they haven't waited long enough?
The reason I mention this is that there is zero certainty that this will not happen again in the near term.
In fact, the BOD has specifically requested authorization to do a reverse split -- for the stated purpose of being able to do further dilution:
"Basis of Consolidation
The Board is of the opinion that, in the future, it may be in the best interests of the Corporation to effect the 2016 Consolidation and the Second Consolidation, and such consolidations may
enhance the marketability of the Common Shares and could facilitate additional financings to fund operations in the future."
-Management Information Circular, May 25 2021
My argument is that retails have borne enough of the burden of capitalizing the company, and that owning a high-quality and proven asset means that debt markets should now be accessed to meet future capital requirements.
There is no need to further devalue my holdings, thank you very much.
But on the other hand some on here are right at the bottom end of re list price and far end of the relist date.......wink.
"Yes i believe some on here are getting way ahead of themselves , 0.80 at best for me when we eventually relist which could be anytime up to Aug-Sept"
The Atomic take out was done when production was 1400 boe and we get our WI % of that. Q1 of 2021, we know from Cuda's financials that after we took over, we didn't increase flooding as they didn't have the cash. So flat production in that time. So on relist, the best we will see in our reflected stock price is our share of 1400 barrels, with adjustment for our debt. I don't know what multiple we get here. But we started the flooding in April (Q2 of 2021) - so after this opens in the UK, I suspect that is when the news can be released on our increased production results from the flooding.
I don't know how the market will figure out our cost and profit on the increased production because part of that includes figuring out with CUDA how we deal with their share and fact they are not paying their share of production costs. When that is figured out, we will get our true adjusted share price, whatever that might be. Hopefully at the AGM next week, in the Q and A or informal session, AM will give us some sense of what is going to happen and when. GLTA
Even with known to come dilution (warrants) fully diluted we would be around 17 Billion shares in Issue
making 1p = £170m MC
Copl America (ex atomic etc) reserves in the ground based on CUDA results recently published worked
out $8.39 vice the quoted $7.50 10% NPV & Regional risk rating given in December
That alone makes the KNOWN established reserves in the ground worth pushing 200 Million , so there
is 1p all by its lonesome
Nothing factored in for ACTUAL production and growing revenues
Nothing factored in for Nigeria OPL back in play or anything else Arty is holding on to Marginal ?
and the mysterious NAMIBIA not on the pre group structure but on the Copl Group structure in
that huge RNA presentation released in Canada over there new site Sedar
x3 return would only equal the value in the ground at $8.39 and Oil price now pushing for $80
and beyond filling Copl Groups coffers and easily servicing the deal debt structure, a deal made
when Oil was $39 a barrel
as said , hoping is hoping that Arty is playing canny with the consolidation, expecting a substantial
rise that can move Copls home from CSE to TSX for a much higher profile across the pond lol
@hopingforbags, thanks for getting back, yes understand, perhaps rephrase the question - how many shares accessible to trade in Canada? I think your 'some kind of market' comment supports my suspicion that there are actually not many shares to trade in Canada - and hence the XOP sp is probably just about irrelevant?
A company has only one set of shares be they on one or multiple exchanges, hence the low volume
in Canada , all of us locked in Londoners have the majority frozen until return to market, think that
is why the RBC Canada Bank took a wedge just prior to London suspension to try to support some
kind of market on the CSE
Canada CSE Capitalization XOP
Issued & Outstanding: 14,863,619,791
Completely agree Shaa…
Atomic not priced in, Miscible flooding going great, possible other news, Art’s bullish interviews.
Not sure on open but give it 2 weeks after re-list, 2p all day every day - and that’s me being conservative.
Once re-listing, ok we will have a sell off but we will have an even greater scramble for shares.
Once more hedge funds and institutions come on board, which they will, we could do 100% plus in a day.
Hello all, just a supplementary on the TSX situation - how many shares actually in circulation on TSX?
(COPL holder, first post here - but watching with anticipation)
Canada use increments and never have any REAL volume as a result, for several years they have
played 0.005 (0.28p) v 0.01 (0.57p) , since we suspended they did have a couple of volume days
and hit 0.02 (1.14p) but still only 105m traded
Like recent years they will not move until London leads the way with BILLION share volume days
Copl first listed in Canada but needs to be much higher to go on its primary market the TSX the
current CSE increments would be like us gapping up 50-100% at a time vice London's every
fraction possible lol
This is probably why Arty now positioning for a share consolidation of UP TO 100 to 1
This bodes well as to go onto the TSX $5, in London we would have to be consolidated at
2.93p+ and x 100 to get £2;93p for TSX minimum parity
if we reach beyond 3-5p perhaps then less than 100-1 consolidation would be required hence
the up to 100
Forget the prices in Canada , bad increments and low volume , until London leads the way again
and more parity in prices can be achieved as we rise and kick Canada in the increments lol
Rootstocks - i agree with you in principle. The two stock markets should align their prices, so why hasn't XOP jumped up massively? The hope is that the prospectus will be a massive wake up call to what Atomic really is and what it means to COPL.
Yes i believe some on here are getting way ahead of themselves , 0.80 at best for me when we eventually relist which could be anytime up to Aug-Sept
If we’re anticipating a significant jump in COPL share price on relist, why is XOP is still hovering around pre-Atomic levels? I appreciate it can only move in 0.005 increments, but some on here are suggesting gains of 3,4,5x…
3littlepigs, many thanks and Igor for your reply, very much appreciated. No I am max out with COPL and have been for the last couple of years. GLA and hang on in their all, hopefully not long now to wait.
gastogo - it's a slow day here and I'm afraid you are asking a question that has been posed many times before, hence no one is rushing to answer you.
The CSE only offers prices in 0.005 increments. The price for a XOP share has therefore been wobbling between 0.005 and 0.01. There is no 0.006 or 0.007. As a consequence, the percentage move is either down 50% or up 100%. Right now we seem on the cusp (by CSE valuations) of being almost worth 0.01 per share, which is ridiculous really! If I didn't have all my money in COPL already I'd be opening a new broker account myself to buy more XOP to go with my COPL.
If you trawl through this BB you will find a post or two telling you which broker might trade XOP shares for you. Or do a google search of brokers offering CSE trades. Good luck.
Yes it moved down 50% because then that is the resolution the share trades at its current price (0.005). It’ll soon be back up 100% to 0.010 CAD.