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TMS Article...On Friday COPL announced it had Secured a Loan Facility to Progress OPL 226 Project from the companies CEO & President Arthur Millholland for a principal amount of CAD$200,000 (the “Note”). The Note is repayable by the Company six (6) months from the Issue Date and bears interest in Canadian Dollars at a rate of ten per cent (10%) per annum.
Shares in the company traded up significantly towards 0.15p in the early part of the session before settling back to a more palatable level by mid-morning. The company stated the funds will enable the company to continue discussions with investors and service providers with a view to commencing drilling of the first appraisal well at OPL 226 in 2020.
https://total-market-solutions.com/2020/02/21/news-round-up-2/
NUOG Board matey... wrong board
You have to buy some first.
I think that's the direction this is going in too.....
JP recently commented on his proposed appointment over at AST -
"As the oil and gas industry moves deeper into this period of profound change driven by the energy transition, quality opportunities present themselves for nimble, well-financed micro-cap platforms".
James has a wealth of corporate and transactional experience on AIM and a demonstrated ability to access capital to fund junior resource plays. He is Executive Chairman of Regency Mines plc and Non-Executive Chairman of Echo Energy plc and Coro Energy plc.
2 out of 3 are struggling atm McAdder, not to say they won’t come good, but what makes you think it’ll be different with NUOG?
In this case for me it's all about the potential for offsetting the huge tax losses incurred over the years (£8M+) that make a potential RTO into Nuog very attractive especially if we are to believe it could be from the clean energy sector.
Potential investor's or those already in here should obviously draw their own conclusions but I am quietly confident of a positive outcome in line with comments made at the recent AGM
How much tax loss was there and how much do you think it’s worth?
How many years before tax losses lapse...is it 7?
Thought it was 6 but I may be wrong.
The Uk tax losses don't expire. If they did they would be restating annually.
The canadian tax losses do expire. These are detailed in the accounts. Obviously they will go anyway if eoi is divested.
There are restrictions as to how much and when and against what things may be used under the carry back and carry forward rules. Like all things tax HMRC may do compliance checks.
Uk reclaimable losses were 8.8866m.
Canadian 1.830 starting to expire from 2026.
How do you find out the claimable losses?
Hello boom123,
Still on twatter? can you pm me @Alexios1201 pls
Barry, you look in the accounts. In this case specifically note 6 on page 39.