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Hi Groover, in the absence of h4b then there’s nowt to be toooo concerned about. RNS was only stating there’s another 1 month delay. The bb reckons it’s partly to do with sussing out Atomic’s audit figures & a wee bit to do with AM wishing to wait on decent flow rates & possible further news & shooting lots of ducks. Dilution was raised as a possible reason for delay, but was then decreed as a non-duck event. I hope that’s clear bud, normal service will be resumed when h4b resurfaces.
Been off boards for a while as not well so subsequently out of touch with vast majority of my holdings. Am however little confused by RNS today and also some comments re dilution or conversion. Are the shares being converted ?
Most peeps failing to see the Canada game inclusive of joey with his then revised target price of 0.8p ‘..As the buying price of CAD 0.075 (c.0.82p) was what the Canadian market evaluated COPL..’ Which is a wee bit short-sighted.
The game there requires that if you are buying at say CAD 0.1 (1.12p) then that is on a bet that requires you to then sell at the next increment CAD 0.125 (1.40p) and to be able to do that, your buyer at 1.40p has to believe they can sell at 1.68p.
The mc is not reflected in the Canadian sp, it is an integral function of the next 2 increments.
The fact that some stock has been sold in Canada at CAD 0.1 tells you that some players there believe the mc will be realised between 1.40p and approaching 1.68p The lower the number of CAD 0.1 players points closer to 1.4p The higher the number of CAD 0.1 players & the closer to 1.68p we become.
(Throwing these numbers out on iPhone so need verifying, But the underlying principle, is that their players are 2 increments on the low side).
yes looks like London volumes left little for Canada to play with, what was it their best day just after suspension 105m shares churned as compared to our last 3 sessions displaying over 5 BILLION
Was hoping a big picture looking real II the other side of the pond might trigger Canada but now looks like just nothing available for them to pile in for hundreds of millions of shares and the kind of percentage those sort of guys look for
Guess we will see if any of the pending big news items land , for them to play with prior to our London resurrection lol :))
sod's law we have had the license a long time while the partners agreed to disagree threaten to sue each other, 80% handed back to our ShoreCan JV and then taken back by Essar to have a 50/50 JV 10% Free carry on first drill, with a 90 day option to increase our JV ownership by 20% , so win win for us if the flows are as high as expected, if not we have zero funding issue right up until that decision
Now the partners are back in agreement, our license has expired (do not panic so have around 50 other OML/OPL Nigerian licenses)
Hopefully the long awaited Petroleum Industry Bill PIB gets as reported its 3rd reading in Parliament this month (3rd read to become LAW) has been the hold up for all and we will
Get a double boost when the license extension is finally granted, one we can finally get on and drill per the new agreeable Partnership and BIGGER confirmation we still actually have the OPL license
(would say nothing priced in and bigger than copl America aka atomic)
Buffets will be AM’s domain; a share in the Bonga is a share at the top table. A certified Nig.gov strategic asset. Would get him direct access to quite a few duck ponds. Most majors though now slowly off-loading. Becoming a difficult game at the high levels, when their margins then slowly get cut back v corporate responsibilities for greener juice.
Nigeria or more specifically high impact offshore Africa 5k - 20kbopd per well was the reason Arty brought copl to the main market originally
The large OPL license had a plan in place by Essar the operator to on success drill around 28-30 wells in FFD That's a massive amount of oil no matter what percentage we hold
The whole license had multiple leads and a target of up to 1 billion barrels across it again massive volumes
The Atomic production deal is a fantastic piece of work by Arty and his team and longterm if not bought out by the on the prowl USA upper tiers/Majors that surround us Continental Exxon etc will provide the company with stable revenues to support its wider plans
If taken out hopefully win win and wads of instant cash for the rest of the portfolio if the RIGHT offer came along
Deepwater horizon.. lol, you do realise that we are then only one step short of putting in an offer for Total’s 12% share of the Bonga’s 200,000bopd (a few fields west of OPL) which is on the market c.$700M. Ten times the value of loan we are currently being offered which came about when we had zero production.. lol, I don’t think AM though would be cut out to be a small bit player for others for much longer. And the Bonga’s catering is pretty naff.
and give previous rto 's I have been in could certainly happen with an initial herd wind on day one, where it might end as a new initial trading range once the crazy dust has settled remains to be seen
realistically the 3 market cap bands our production peers on the exchange in clutches that would give our next stepping stones to match them by market capital as
1.5 - 2.5p 3.0 - 5.0p 6.5 - 10p
So at minimum I hope to see us at that first level early doors as said with a following herd wind could spike into that second zone, then its in the lap of the market gods as to where they decide to settle us as a new day to day trading range pending the next update/s
a lot of that final guesswork will be down to what's already been much discussed on the board
What has been our revenues/production since December ? What impact has the increased flooding program made ? What if any P/E is to be assigned from the off ? What has Arty been up to in his OTHER talks ? What TF is or has happened in Nigeria
That’s cool Wookie, i too will apologise; not for insinuating there was opinions floating from an empty glass of wine (hey, it was midnight Saturday?!) but is that i took your protestations of hecklings & of bullying as devoid of substance. Bullying on the bb is a no no (apologies again on the teenage speak, but it most eloquently describes) and as a no no, in a very highly charged atmosphere, we all try and amend our inputs accordingly, sometimes erring to close to what some might see as provocation. (You need to up your game bud, ‘woke’ is not only an accurate reflection of today’s culture but it is also endemic in many investment decisions... Reddit?!)