Member Info for 3littlepigs

gastogo - it's a slow day here and I'm afraid you are asking a question that has been posed many times before, hence no one is rushing to answer you.

The CSE only offers prices in 0.005 increments. The price for a XOP share has therefore been wobbling between 0.005 and 0.01. There is no 0.006 or 0.007. As a consequence, the percentage move is either down 50% or up 100%. Right now we seem on the cusp (by CSE valuations) of being almost worth 0.01 per share, which is ridiculous really! If I didn't have all my money in COPL already I'd be opening a new broker account myself to buy more XOP to go with my COPL.

If you trawl through this BB you will find a post or two telling you which broker might trade XOP shares for you. Or do a google search of brokers offering CSE trades. Good luck.

Where does the $47k a day per 1,000 bopd come from. With WTI at $70 that seems like a high net margin, but I'm not an oil guy so I don't know what the cost base is likely to be. Can someone with more knowledge comment on that aspect of the calc please?

Remind me what our Working Interest is and I'll run the maths correctly.

1. We aren't an AIM company, we are a main board company, so don't apply AIM rules to what we are doing;
2. There isn't a 10 day mandated period between prospectus issue and relist; it can be shorter.

June is still entirely possible for relist. The two factors in play are obviously: has the audit been signed off; and how many rounds of questions will the FCA ask before signing off the prospectus.

Hedging is a double edged sword. It ties you into a rate that might look good today but could look bad in 3 months time. Plus there is a cost to all hedges. Finally, you can never hedge all the way into the future. As a treasurer for a FTSE250 in a past life I can tell you that the best you can ever do is articulate clearly what your hedging policy is so that investors know what it is; it then becomes part of their investment strategy.

With hindsight everyone knows what they should have hedged and what they should have let run!

busymum - my 18th June prediction is looking a bit iffy, but I've not written it off yet!

Elcap - which broker are you with? I think a number of others on this board received a similar message last week, so this may just be an automated update of sorts. But what is written is consistent with the latest RNS so until we are told otherwise it should be true.

I'm starting to get butterflies over the relist and can't resist checking the RNS page every morning at 7:01am as I make our morning tea. Of course, that's silly of me as I assume the prospectus will be approved during the working day so an RNS is more likely between 9am and 5pm; but still I will keep checking!

Personally, I don't think the Atomic audited financials need to be RNS'd. So the first we may see of them could be in the prospectus.

I'm still holding out for a relist by 18th June. As previously posted, I am of the opinion that a prospectus is needed only 2 to 3 days before relist therefore a prospectus this week could result in relist next week. I just hope this audit gets finished asap and the FCA have seen enough drafts of the non-financial content to sign the final prospectus off quickly.

I don’t believe it is a 10 day process. I think it can be as short as 2 days. The 10 day notification period applies under the AIM process. I can’t find anything to say the same rule applies to the main board.

All my money is in COPL, but if it wasn't I'd but a bet on us being relisted by 18th June. I'll be back to quote this date once a week and like all good forecasters if I'm right I'll brag about being right for months, and if I'm wrong I'll forget I ever made the prediction!

Irrelevant to COPL I would have thought. What threat to national security would we pose?

I've been trying to determine, based on the LSE rules, whether there is a defined period of time that must elapse between publication of the prospectus and relisting. If we were an AIM company the rules are easy to find and easy to follow: pre-admission announcement 10 days before hand. This is a timeframe that has been discussed on this board many times.

But for a main board company like ours, the rules aren't immediately obvious (at least they aren't to me). So far I haven't found any prescribed timeframe. I have however found some "precedent" in the form of a main board company that suspended under a RTO, and then announced its return. The company was Davictus and the rns is at the bottom of this post. In that case they had FCA approval for the prospectus on 19th Feb 20, published the prospectus 21st Feb 20 and stated they would relist on 25th Feb. That was publication on a Friday, relisting on a Tuesday. Of course, Davictus didn't actually relist until 10th March as they issued a supplementary prospectus and the whole process got drawn out, but the precedent is nonetheless interesting to read.

I would hope we'd get more than 2 days notice of relisting so that the PR machine has time to do its work and talk the price up.

If anyone wants to poopoo the precedent or provide the actual Main board rule that proves this timeline wrong, please do. I'm always keen to learn about the rules and process.

https://www.lse.co.uk/rns/DVT/publication-of-a-prospectus-52h3wu87dz0g6aa.html

Mill_Trade you are absolutely right. In theory every time you do a 1:10 consolidation you just move the decimal place on the share price one place to the left so the share price would go from 0.38p to 3.8p. Or in our case with a 100:1 consolidation, the share price becomes 38p.

Given the somewhat stupid way in which the Canadian market works with prices to the nearest 0.005, a consolidation makes complete sense as we avoid the constant stepped changes in price from 0.005 to 0.01 and then back to 0.005 etc. We would then also see the LSE and the CSE working like a perfectly liquid market, with the prices on each exchange being the CAD/GBP equivalent of each other right down to the cent or penny.

Plus as others have said, there is the perception issue that gets solved with a consolidation; the perception that a company with billions of shares is not as good as a company with millions of shares, which of course is a nonsense, but if it helps I'm all for it.

Here's what I expect based purely on what I've read, with more weight given to company published documents:
- Prospectus issued in the next two weeks (possibly later this week)
- Relist before the AGM
- AGM with approval for consolidation and a big pat on the back for all the board, hopefully followed by a nice meal with champagne
- Consolidation occurs at a time when the company has a lull in other corporate activity (summer?) - they wouldn't want to be doing a consolidation at a time when they are also doing an acquisition or other such transaction.

I really, really want to see the prospectus this week. Please Art...

There is only 1 organisation in the world with a website that is worse to use and less professional than COPL's, and it's the SEDAR website!

Anyone taking up shares in the IPO of the Artisanal Spirits Company?
https://www.londonstockexchange.com/live-markets/new-issues

How very "tesla" of him!

Hah! Typo - I meant bricks, not sticks!

maybe i should upgrade from wood to sticks first.

I'm torn between a yacht or an upgrade on the ferrari...