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COPL has now cleared off all the creditors/ loan amounts with debt to equity swap by issuing 411m shares @ 0.30 (confirmed in 26 June 2020 prospectus).
Total shares in issue after admission of New shares on the 2 July is stated as 4.156 Bln.
Over the weekend,
1) I read the 26 June 2020 prospectus.
2) Then I looked company newsletters.
3) Older interviews given by ArtM
Just to confirm the investment case in my mind and why I invested in the first place....and boy the Upside here from current low MCap is just a....No brainer.
NoEasy posted about the 3 oil bearing zones last weekend. That is where the 2.4 Mmbo came from at 25% recoverable. That is a conservative figure. By the way it is OPL226.
Thanks MrP - just need that agreement confirmation RNS to kick start us.
* company newsletter.
Shaa
Those figures are from Page 6 of company presentation. I did not even know about other 2 zones until Mr Nation mentioned it.
All in all OPL226 looks a gem.
Over +6 bln barrels even @ 25% recovery factory is mother lode. Niger Delta Is amongst one of the worlds most Oil rich province.
Taken from MisterPositive post yesterday
6000 zone: +1Bln barrels
7200 zone: 2.6 Bln barrels
8000 zone: 2.6 Bln barrels
He was waiting for 3p on GRL which hit 7.8p. So even he doesn't have a crystal ball. What will be will be but the agreement is conditional so will anticipate a submission RNS at the very least
F—-ck off you human zone of low pressure .I remember your pathetic posts of whining woe and aggression some twelve months or so ago. Ciao!!
You don’t sound sure about the agreement. That should come within the next week or so but you know it takes a lot of time for the African authority’s to decide things and then in a lot of cases it turns out negative , I’m sorry to that
but we will see.
Groover no need for apologies it was just an error. Sure as hell I done them , and some!
Jiving
Sincere apologies. Looks like chart I looked at had a right bunny! With 50k cases in usa alone it seemed feasible
I'll use this chart from herein
If anybody wants to discuss Nigeria, take note of the following, Nigeria are up the creek without a paddle, they will welcome any revenues from anywhere. Believe me, Nigeria need COPL/Shorecan more then you can imagine.
https://nairametrics.com/2020/04/16/see-5-signs-indicating-that-nigeria-is-heading-for-a-recession/
As usual an alarmist and cup half full negative and basically inaccurate take and slant on life and Copl.Wuss of the first order.Withdraw and place your funds in Shell as your often doom laden posts do get on my t—-ts.Look at the Covid facts re.Nigeria and Africa in general before reeming off such Alarmist nonsense.Rant over lol-but why post such toilet.
Groover I am looking at the worldometers statistical toll for Nigeria & it shows 603 new cases for 4 July, the 28,000 is for total confirmed cases since it all began. You can see this here:
https://www.worldometers.info/coronavirus/country/nigeria/
And from the Nigeria Centre for Disease Control (NCDC) twitter:
https://twitter.com/NCDCgov/status/1279544410632605700
Nigeria isn't looking good. Reported 28000 new covid cases yesterday. COPL needs to really start planning now to ensure drill sites are fully managed appropriately as other drillers/gold companies have to keep production going/restarting. Come so far now and last thing we need is a covid disaster to hit us for the nxt 6 months, current and 2nd wave
The only thing to take us down to 0,22p is an RNS saying no agreement reached.
MM’s played a blinder on Friday, despite buying they took it down, even with the over-hang probably done the day before.
Even if we don’t get the agreement RNS early in the week, FOMO and the short term investors will want in and give us a lift from here.
Yes Dusty totally agree. COPL don't need to purchase the 10% until we know whether the first drill was a success. That is what makes this deal so attractive as an investment.
Agreed Panama - Art's test is close.
Quoted from Oil man Jim's passage he said 'settlement with Essar Mauritius is potentially transformational'. No sh**T Sherlock. Mind he said the increase from 5%-15% would require dilution ( £6M if correct but we can take this option at anytime: of course it would make sense to do that during the drill or after. If this goes to plan then £6M dilution at say £50M at a 1p for example is palatable and valuing driving so who would expect the market to see this as positive on a good result. A very interesting few weeks coming up!
All very interesting but until Art gets the promised batch of News out some time this week the Market will still need convincing that Art really is on the true path of Redemption.
Then,when it comes the SP really wil fly and the future prospects will become a red hot topic.
This week is going to be crucial.Everything crossed for truly Transformational update
So if all went plan we potentially could be looking at up to 9,000 BOPD net to COPL from OPL 266 with up to 1 billion barrels - crazy, and we're valued at just above £10 MCap. Buy the dips. Mind we're already heavily discounted from recent highs
I must admit, I enjoy your your ramps on this bb, however in my opinion we have a very very long way to go to even get to 1p per share as their are to many ifs and buts. I think that this week we will continue the downward trend to about the lower 0.20s and will hang at about 0.22p for a while
Until we get a positive RNS. All in my opinion of course.
SP is difficult as it is not always black and white.
LLOY is nearly half of its price from a few weeks ago, nothing major has changed RNS wise, even with coronavirus.
PMO was £1.20 and oil was about $40 a barrel, oil dropped to $20 a barrel, the SP went down to 15p, now oil is $40 and SP is 50p.
My point, sometimes it’s sentiment etc that also play a part, if we successfully drill and SP is 4p, who knows with sentiment or forward looking statement from ART where SP will end up.
I could be wrong here but my interpretation was that COPL do not have to buy the additional 10% up front, they could wait for the drill to hit then buy an additional 10%. Does that align with others interpretation?
Petrol, yes I have been saying 4p to 10p and more for weeks on full field development.