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15.55 beg your pardon.
So we were up, down, up and finished down.
Over-hang must be gone, I am looking forward to a strong 2 days, more late buys published after hours.
Buying continued all today despite MM’s dropping it.
We know how fast this share can move, I still think we will finish in the 0.40’s on Friday close.
Over-hang must be gone, I am looking forward to a strong 2 days, more late buys published after hours.
Buying continued all today despite MM’s dropping it.
We know how fast this share can move, I still think we will finish in the 0.40’s on Friday close.
Well if it doesn't move North after a 3 day loss but massive trading I'm at a loss. Fingers crossed for a good 2 days.
MM’s can only hold it down for so long.
I think i know what's been going on.
I think it's YA been forward selling and had up to 350M although 0.3p is the line in the sand as that's the confirmed placing level. I also think AM has converted his £110kish loan note into shares also at 0.3p which we be a big boost when declared. I believe we will have a TR1 from a Nigerian related investor that will come Friday and he hasnt sold any. The contract will come next week and we'll be trading in the 0.4s on Monday!! Into the 0.6s upon contract sign off. It also means that we'll have another £850k so we be looking at other assets and developing Morroco although OPL266 is our core project!
Sounds like a good explanation Bladderman.
IMO, with the 2 placements out of the way, there shouldn’t be any negative news for the forceeble, and any whiff of good news will see us shoot northwards.
The source is this...
In a Prospectus approved by the FCA on 26 June 2020, the Company has reserved 411,326,189 common shares in the capital of the Company to be allocated for the settlement of debts to its unsecured creditors, accrued unpaid wages to its employees and the secured Promissory Note due to its CEO at the Placing Price, in other words 0.3p
So basically load up the 0.3p lows as it's going to pop on Friday - if not before as much of the 410M minus AMs 40-50M has been forward sold. Bring on the Tr1
It's speculation and time will tell: nonetheless, since Monday we have churned 850M (300M, 280M and 266 today). Another 250M tomorrow and that will be 3x the potential 350M YA stock. Then we'll pop. Next add the TR1 and contract news flow plus potential acquisitions this will be £25M+
Wanted to share my thoughts after researching
Excellent research, as I said earlier, if we get no news this week then I expect to see a mad rush late Friday.
Friday just gone, we went from low 0.30’s to touching 0.50’s in the last 90 mins.
Well researched Bladder. Let's see if you are right. My gut feeling is you're on to something.
If this hits my current average tomorrow which is 0.29-0.30p I’m going to be topping up here 100%
Some good postings Bladderman, I have read your posting history, you seem knowledgeable - a asset to COPL.
Thanks Bladderman. Good information. Where does Morocco come in?
Bladderman,
Good info.
Morocco?
Did you mean Mozambique...
Yes Mister - my apology guys i do mean Mozambique!
Contracts for licence extension.
When I say research I was referring to the unpicking of the share unloading and potential source of the selling as was surprised. I read through the admission and end of quarter documents. That's when i came across the 411M shares agreed by the FCA on 26 June 2020 and just shared an opinion. Wasnt intended to cause offence! Anyway, think just churning through the last if the 0.3 placing and intrigued by the potential TR1 ownership anticipated Friday/Monday.
GLA
I believe the selling of the stated 411M (approx 350M from YA) was triggered Monday after FCA approval on the previous Thursday (26th) and will be completed today or Friday.
Time will tell!
The previous agreement with YA was terminated (from April 30th) to our advantage. The shares these potential shares were being issued at 0.3p (The Placing price). Line in the sand springs to mind
*Friday not Thursday!
What an opportunity it has created for us this week!! Loading at 0.31-0.35p at this stage of proceedings.
Let's hope for a blue day today GLA
Bladderman,
I am confused about where you got YA 350M ?
YA and Riverfort both only provided £100k each in first placing each getting only 33.3M shares each.
Dropping it down to 0.28p has kicked in a lot of buying.
Mister it's 411M total in the admission document yesterday. Taken 50M off for AM.
Come on any more PIs want to sell below 0.3p placing price
To the investors who have been here a while or brought in at the lows know how low this could have tanked after the placement.
Just a matter of sitting in and holding tight.
Oh, and found this............
www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiSv6byja7qAhV-QxUIHRpuCg8QFjABegQIARAB&url=https%3A%2F%2Fforeignbrief.com%2Fdaily-news%2Fnigeria-collecting-bids-for-new-marginal-oil-fields%2F&usg=AOvVaw2f6u7wyfkvf8A-VLGoz4mk
The 411m has NOTHING to do with YA, but is entirely for the debt to equity swap, which is not yet formally agreed here from yesterdays RNS :
". ..the Company has reserved 411,326,189 common shares in the capital of the Company to be allocated for the settlement of debts to its unsecured creditors, accrued unpaid wages to its employees and the secured Promissory Note due to its CEO at the Placing Price."
YA & Riverfort subscribed for a total of 38.5 million between them or 19.25 million each. Here from yesterdays RNS:
"..being 38,500,000 to YA II PN, Ltd ("YA") and Riverfort Global Opportunities PCC ("RGO") as shares in lieu of cash for fees, and interest of 12.5%, pursuant to the loan agreement ("Loan Agreement").."
Its all about loans and finance at the mo which is not great for sp what we need now is positive news goimg forward and I hope this time we are close sure i have been here many times before though feeling like this