The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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And there we have it :)
Missed the word ‘tree’
Why on earth would I want to get the class action count down, I’m probably going to join myself once I’ve heard what mr cotter has to say and the more that join potentially the less I’ll have to fork out. I’ve challenged the cag on a few things that I didn’t understand and got a decent response from Rodney which I’m happy with. You’re barking up the wrong mate.
Ryan=Avavio. Simples
“RBM, not being funny but I have lost thousands in this. I don't agree with your view, If this can be stopped now and a legitimate SISP is put in place (and not by KSV) surely that is better than doing nothing and proceeding with a class action that could take years. We can still do a class action if the new SISP does not deliver to shareholders. COPL, KSV, Summit and maybe Anavio are in cohorts on this to allow summit to get the assets as cheap as possible.
BP have stated that the solicitation process was flawed, KSV didn't contact enquiries, they didn't give enough time for the process, the actual documentation they sent out was laughable, no mention of how much oil we have or its worth, its as if all the oil has disappeared. What's in the DATA room, have COPL been selective as too what's in there, who knows. All I know is this process needs to be stopped beforehand rather than letting it go through and then spending years trying to recover our money that may or may not be successful.
Kenneth Anderson stated in his closing statement on the affidavit
'The debtors own and operate SUBSTANTIAL oil and gas holdings which must be adequately exposed for a time and at a price floor that will stimulate the greatest possible interest '
'the process in this case was chilling and ineffective'
BP know what we have and I think they are being careful with what they say. Our NAV was close to £500 million without the fed deep discovery, add that on and who knows what its really worth.“
His first post….
Read this again. Ryan is here to disrupt. Calculated words to sow seeds of doubt, to get the class action numbers down. Simples
Thought I’d start a new thread. Ryan is getting paid double time at the moment, with a thread named after him.
He knows his stuff, had just surfaced recently, not part of any shareholder action yet spends his days at present like Andy Dufresne with his rock hammer, chipping away. Reasonably clever lad, yet still too obvious. Ignore him. It’s his pay masters that matter.
Think the FCA need to start, before they can finish with anyone!!!!!
May they collect more seamen than the Spanish armada...
That will be a euphemism for what Tom Richardson will experience in his ten years in prison once the FCA finish with him and the Anavio boys.
I suspect Anavio have made their money. Don't care about the bonds now.
If you lend someone money then destroy the company you won't be expecting to get your loan back.
It's odd that BP are in dispute with Summit if they are part of the the same Secured Senior Lender.
Surely it's ideal for BP. Just make an offer to Summit for Summits part of the debt and they get all the COPL assets cheap.
No shareholders, no bondholders.
Anavio were going to get in massive trouble from the FCA that's why they've run away! No doubt the italians have egg on their faces.
Saintnick'' it does seems a little bit odd that Anavio have gone quiet, if they are owed that much ? and even stranger than that'' who actually own that 1b shares, as it was not sold in the Market as far as I'm aware''that 27% £2.5m worth @ 0.15p seems to have been transferred to another owner in 3 lots 10% then 13% then 4%, before suspension we did not notice any big sells at all... so someone still own them''
yes, lots of question with no real answer forthcoming
regards
Maidit308 - to me, the Anavio saga was about covering off any outside bids by building in access to quickly issued bond conversions through increased debt, and potential market share should it be required to fend off an outside bid, whilst the SP simultaneously gets hammered pushing COPL towards the inevitable default.
Anavio never made a play for COPL, they had plenty of opportunities to do so but instead they just kept on stumping up cash whilst shorting the socks off it, even after the default. Odd unless it's seen in the context of the bigger default picture and how it could be engineered, then it just makes sense. Nobody loses except the shareholders.
If that's not the case, i'd question why Anavio haven't launched their own legal proceedings against COPL, $25m down so we're told.
Maybe Anavio were caught off guard so injected the last bit of cash to try to salvage their plan ? I haven’t got a clue. What doesn’t make sense is Summit gave them another month to sort and so if summit wanted Anavio gone, why give them another month ? and also copl kept reiterating there would likely be no return to bond holders or shareholders ?
If it wouldn’t have come in they’d have been bust earlier
"The last $2.5m loan after the default notice was received"
I know the shares were given to Anavio....
BUT
It there any proof they gave us the cash.....?
Is this the reason the injections stopped?
I wonder what the output per month would of been now, had the injection rates been upped to 5mcf per day?
They stopped injecting months ago, yet the field is still delivering 1000bpd.
Awarded stupidest post last week and now continues now to be Share Clairvoyant of the Year by telling us the share was tanking in his/her first COPL post below, Dec 2023.
Talk about stating the bleeding obvious after the horse has bolted, where do these geniuses come from, as much use as a wet f4rt.
B3ast
Posted in: COPL
Posts: 400
Price: 0.725
No Opinion
RE: Jv19 Dec 2023 15:23
It's rare for anyone to actually want to buy these oil AIM companies, they're usually a vessel for PI's cash into board pockets.
Of course there is the odd exception
I like that response B3east. Quite witty.
How do you protect yourself against massive fraud?
Lloydy
"B3east
If you said good night to me I would check my watch before answering you mate.
Lloydy"
It seems you have learnt to be more cautious, that's good. The writing was on the wall here long before the suspension
I'm sorry Sharebel, I don't wish to comment on that.
Rodney do you not think that PK when appointed interim CEO on 18th Jan and privy to all the info and intel could have set out eg the reasons/ case for ‘failure’ of COPL better to court and highlighted the massive shorting activity by Anavio as a major contribution even the graph of their shorts literally follows the timeline of the share price movement and of course had effect on access to lending/raising. He really did not put much emphasis on it simply amending the affidavit with a few lines which really did nothing. Why did he not clarify eg the disparity in RNS company debt amounts communicated to us and then the difference in amount in figures once court docs filed the list of creditor amounts - has he addressed this ever yes they had TR’s name on but he was interim CEO at that time? Why reluctant for shareholder meeting/RNS etc can’t simply be a cost saving exercise? IMHO DYOR
My apology SAINTNICK'' press the wrong key with the o
Https://x.com/ActionCopl/status/1784892709360083077
Mr Michael Cotter will hold, 3 x Zoom calls this week at the following times:
Tuesday - 09:30 hrs
Wednesday - 12:30 hrs
Thursday - 17:30 hrs
Please note you do not need to attend all 3 calls. The content of the calls will be the same.
The purpose of the call will be for Michael to introduce himself and his practice, discuss historical matters which have relevance, confirm the way in which we will work with him, discuss the types of third parties he will engage, and begin to highlight the routes of recovery.
Please check your emails for the links to the Zoom meetings.
The last $2.5m loan after the default notice was received (smoke & mirrors), 20% shares worth nothing now.
IS THE KEY TO THIS FRAUD SAINTNOCK'' AND IMO, SHOULD BE THE REASON FOR ANY INVESTIGATION BY LSE / FCA / FRAUD SQUAD to stop this give away on the cheap, to cut shareholders out of any return on an asset that is worth at least $500m with production still at 1000+ BOPD without gas injection with oil now trading close to it's 5 year high''
shareholders needs answers from PK and COPL and the relevant authority to try and put right this wrong ASAP and there is no reason why PK should hold back the GM of shareholders to explain the next step and our fate ? something back or nothing back...
Regards..
Many thanks Ryan.
I've already set out my opinions about what Summit could have in mind as well as referring to Michael Cotter and his Class Action project. These are the 'hoping for the best and planning for the worse' scenarios that I read somewhere else recently.
Based on the research I have done so far, I have no reason to query whether PK has carried out his duties professionally and lawfully. That COPL was in such a state for him to be appointed in the first place will be a key element of the Class Action and has nothing to do with PK.
It does not seem unusual to me that, given the state of COPL and the activities of certain parties, Summit are now using their lien to acquire the assets covered by the aforementioned. Again based on the research I have done, both PK and Summit have a reputation for professionalism. The same cannot be said of Anavio. Setting aside their role at COPL, recall their violation of shorting rules and subsequent fine by the Norwegian financial regulator. Summit has only acted in the way that any sensible party would act in my opinion given what they had to contend with. These are my opinions although, of course, hard evidence does exist of shorting, conversions and so on. I do not wish to comment in more detail there as this could impinge on what Michael Cotter has in mind to best serve shareholders.