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Do you really think COPL will take on someone else's debt?
You are calling it proven?
CawCaw hats off to you if this does all prove to be true. Read a few of your posts a few months ago stating what would happen here and it looks like you've been proved spot on with your judgement.
Nailed on i totally agree mate, we ve been played !!
Apoligies for mispelling of subject lol Deeeeerrrrhhhh.
This all stinks to high heaven, the big boys in the know are dumping while the small investors are buying more. Knowing full well the now expected placing and consolidation will trash our investment. Great stuff Arty
Too post Evans, let’s wait for official news.
Absolute *******s being posted right now, some saying dilution 100% on monday morning and placing to buy a debt ridden company?, absolute *******s.
Let’s see how it unfolds, for all know there may not need to raise money.
Always thought CUDA unlikely to get a good price perhaps the creditors have
backed Arty with a cut their losses deal we absorb the Cuda wyoming assets
they get a mix of cash and Copl shares
Who knows but we do now know the UP TO was a porky it was always going to be 100-1
for what purpose I guess we should find out this week
Do not ruin your weekend over it, it could be good news on the back of it , like the anticipated
Deep results coming on Monday with a placing BUT money to fast track our first Deeps
Horizonal high impact well
Just hope he has not fallen into another wonga barrel of tits and come out sucking his ****
:))
It's not practical to print 16B shares into a 16B share float, at a third of a penny. What institution would be allowed to take part in that.
Changing the float to 160MM shares resets whole thing, and allows for infinite new rounds of share printing.
I said this before and people made fun of me for it. And here we fcking are.
Just one question, if consolidation is for a placement then surely Art can do that without consolidating, or am I missing something?
CUDA has $60MM USD in debt.
To take them out would require ~100% dilution.
Not factoring in the price drop from consolidation.
so a 100-1 return at 32p ish as they seem to have nailed us down here
Then do they let it climb with a figure in mind for perhaps a raise for
taking cuda or whatever with 156m shares in issue
so a 20% dilution 31.2m shares would raise around £10m
or 31.250 m Shares at 32p = £10m
OR
as have seen on other better consolidations they have let it rise before the
raise with a figure in mind , all to a sticky investor not a wonga lender/dumper
I guess we find out this coming week
Still stuck here at 0.32/32p or News recovery higher price Investor let in with
a substantial discount to market price but NOT A DUMPER fingers crossed
;((
@Tiburn agreed that the "Road Show" was a huge question mark.
I see it the other way though: I believe he would have been marketing the next placing. Why else would he put in all that time and effort.
I disagree that no funds are needed. Wyoming plans are the definition of aggressive expansion, by the CEO whose trademark has always been aggressive expansion.
This is the guy who did the most drilling the fastest in the North Sea of any company ever, or some such thing.
$20MM is expense account money for oilmen. You know that.
$200MM is enough for a modest program, and once you add a "B" you are talking about real oil budgets.
No way is he not trying to raise money, just because he has enough working capital to keep the lights on and wait around while a few wells creep up their piddly hundred barrel production from month to month.
That's my prediction here.
I am still taking this a positive (maybe stupidly)
Art knew the price was going to be low for a while as stated in the interview, remember the glint in his eye
This is hopefully a plan
Just needs to inform us mushrooms what that plan is
Consolidation decision planned for when churn ended or best signs of that.
No need for dilution - as $20m in bank, plus $2m per month oil revenue and increasing, $20m accordian. Southwestern had $9m issued and have not spent that much - the $1.6m Deep drill , low cost CC well recompletions, MF and its supply - maybe all in $4m on operations so no pressure there for dilution - COPL have just crawled out of the sea, need to evolve.
AM virtual II roadshow news was the signal. "invest in COPL, then i will instantly dilute you " has no credibility
Key is II and what they do next - it always was.
Management Information Circular
May 25, 2021
Page 13
QUOTE
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
/QUOTE
https://www.sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00021327&issuerType=03&projectNo=03226846&docId=4969645
Noob
Palmer posted the print looks like a done deal
Last reported in and RNA message , we have voted for an UP TO 100-1
consolidation , this one is definitive you will get 1 for every 100
so someone has fcuked up releasing before that change to definitely do the
whole 100/1 in October
A material change in both it is occurring and both rate and when
if that is not a mandatory RNA update requirement what is ffs
:))
Multiple brokerages sending them out.
100:1 consolidation is happening.
In June, the reason they gave for wanting to consolidate was to be able to dilute more.
Nice corporate comms, nice corporate strategy, nice Friday afternoon turd in the punch bowl.
Hey Shaa, tell us all how great this is.
Nothing on HL
Love your posts LB28
Got to admit I am sat here giggling at my phone looking a right weirdo
Keep up the good work
Never
and the Canadian Market is currently open so probably gonna be called into
the principles office for a media release doing the rounds of the brokers and
nothing reported with an RNA message first over SEDAR during open hours
Canada , Oz and USA normally more stringent with the rule book than London
:))
Oil 74.14
Crude 78.12
This is no error, I have two accounts with AJ Bell and received two announcement emails
If not its one monumental uck up
It's happening 100/1
Finally we get that rise, just not the one we wanted