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Not a great deal of interest today to say the least chaps.Maybe tomorrow lol.
Quote from a just received friend email: "you tend to get the feeling that most people on that BB have lost the will to live, Arf has drained every bit of hope out of them!! I also know that feeling!!"
Sums it up!
Yep sounds right ploppylad
Why would there be interest? They've got nothing lol
The sad thing is, they ( COPL ) do have a lot.
40% of a great prospect.....some would say discovery and the technical ability to get the stuff out of the ground.
All being held up IMO by Essar.
Why taking long for the next placing ?
Should be concentrating on negotiating a good percentage of that holding away to Essar imo Rktech if it is indeed them that are the problem.After all they did spend considerable amounts initially in this project and we were always punching above our weight with that holding as we attempted to fundamentally ‘steal’ the lions share with Karim.A let’s say 20 percent share of a project of this size going forward is not to be sniffed at while 40 percent of a dispute and the impasse we appear to be in is basically 40 percent share of sweet FA as is reflected in our market cap today.
Essar Fc**ed up big time in their cynical efforts in Nigeria and Shorecan gave them a way out which they grabbed with both hands.
Now they want more because that's what we're dealing with.
I agree baserite that negotiating a mutually acceptable deal that would get this rolling would be the sensible thing but the sensible option doesn't appear to be in play
.......I hope I'm wrong !
Well while I believe Millholland has been a total shi——te In his comms and relations with shareholders for far far to long I do perversely believe that as radio silence has continued for such a length of time and the lack of transparency prevails that a level of negotiation must be ongoing with the many moving parts in all of this with the aim hopefully of getting this over the line which I imagine would involve making realistic and substantial concessions on our part.Sixteen months on from the initial revelation of a dispute and problems should hopefully see us nearing a satisfactory conclusion to all parties as long as imo Millholland shows some humility (not an easy task for him)bites the percentage bullett and Karim Hopefully plays a straight bat whilst probably retaining his holding as I don’t expect he’s worried if this drags on a few more years.Its us whose in the hole and this far down the line I’m hoping it’s wood from trees etc from Millholland in order to grasp whatever we can out of a very substantial project.As I said some sort of outcome must be close considering the timescale of the silence and we must assume price sensitive negotiating.
I haven't weighed in for awhile, but I disagree with you baserite on the radio silence. Because Art hasn't actually been radio silent while in negotiations - he made a boat load of representations and assurances at the AGM that didn't come to pass. He can't say out of one side of his mouth we are about to announce key pieces here, and then claim he can't talk about negotiations when nothing happens. If these were supposed to be radio silent negotiations, he couldn't have said everything he did at the AGM.
Cdn, As our only link to the AGM what's your best take on why the key pieces never materialised?
I agree with you on Art, he does what he likes and he was clear that he isn't going to make timeline predictions anymore because he was being held up to those timelines (who would have thought shareholders would hold a CEO to account for failed timelines), and that he would only report when things had actually happened. I think that is what we are seeing in terms of silence from him now.
No Easy, you asked about my take on the AGM. The comments made at the AGM were very specific, detailed and optimistic. I think Art was hoping I would post the gist of his promises on this board and help his share price. I didn't do that because I had no way of checking what Art said. All I know is Art used to communicate with another shareholder and I that attended the AGM. Art said a lot at the AGM in front of his staff. I find it hard to believe he would say things that were not true in front of people that would know it wasn't true. If Art was lying, he was doing it in front of about 20 people that worked at his company, for the benefit of 2 outside shareholders. That doesn't make sense to me. Which is why I was initially quite optimistic that we would have been drilling by June, as he promised in May. Art has since ignored emails and calls from both myself and the other investor. I don't know why and neither does the other shareholder. I am very frustrated that Art doesn't think he has any accountability to shareholders while he spends our money.
Thanks Cdn. Really difficult to assess someone like Art in terms of motivation for his disclosures. History tells us that in general CEO's are not a trustworthy group. Would have been great to have a refined CEO in charge here. He has made excellent money out of being a CEO but I personally would have been grateful if he had stayed as a geologist/Chief Operating officer. He has over-played his ability to get a CEO position but has no doubt delivered in terms of field development. Two different skills and he is good at only one of them.
'There is pending news for significant uplift .....'
We know, we have lived with pending news for significant uplift for over two years and I am not being flippant with that comment.
You are missing the point but also hitting the point Suhail. The upside with positive steps being achieved by the company is significant. However there is no reason why we should break through now. We do not know if we have 2 weeks, 2 months or 2 years to make a break through here. You highlight two stocks that are still waiting after years. How can your charts tell you 'there is pending news for significant uplift..' . Clearly they can't.
Any positive vibes more than welcome Suhail. Welcome on board and I hope you get a quick result here. If it is positive news regarding the performance bond, the project financing, the operational financing, the governments consent for us to acquire EEPL's shares in OPL226, Agamore's court action being dismissed and the Essar commercial dispute being resolved then we will all be happy.
Mozambique was in line with Art's modus operandi of having an asset in line should the existing one be a failure. Its a good, sensible management thing to do and replicates his past in that he had OPL226 in his back pocket in the event that Liberia was a duster which it unexpectedly was.
Moz is gas rich and the need for gas to power is a massive need in Africa. The licence in Moz also holds out potential for an oil find. Ideally we would have been looking at getting a producing field going with OPL226 and income from that would have allowed us to move forward with Moz. Sadly our chronic financial position caused by the severe delays in drilling OPL226 have kiboshed any notion of moving ahead with Moz at this point in time.
It'll be interesting to see if we have another sharp fall after yesterdays impressive rise, as previous such short term moves have demonstrated - or indeed, if we get some semblance of stability or even a further move up.
Perhaps those aware of the perilous cash situation have already sold and we now have new punters moving in on the possibility (no matter how small or not) of the impending RNS to be positive......maybe even a new cadre of posters 'promoting' the stock?
We shall see!
I still hold a position here, accepting of the highly speculative nature of this particular stock and the realities of their challengeed cash position.
Atb all
Also it should be noted the security situation in Moz has deteriorated significantly recently, an Islamic insurgency in the North & breakdown in order elsewhere including the capital Maputo. Nigeria looks a way better play at present.
Good luck Suhail, nice to see some new investors getting interested.
I hope you picked a better entry point than most of us on here!!!
Good luck sohail nice amount. Amazing how many you get know. I payed 5k at 1.67 a few years ago makes me sick doubt I will ever get my money back. I use to think wow amazing owning just 1 million now its peanuts. Oh well you never know maybe another top up in the new year but not done that for a while no confidence tried it at 1p then 0.50 then 0.30 ish now its 0.06 help.
I had picked up on the insurgency Jiving but not the disorder in Maputo. All adds to the picture. Thanks for that.
Suhail make sure you don't ditch them all at once;-)
Bolton with your sense of humour you won't go far wrong. And there is still life in this beast.
Sohail it's not on AIM but the main market. But same really anyway I won't be selling a single share till it hits 3p next year #smileyface
I propose we told the 3p party in Bolton.
Hold not told!