focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Rpj8438, did you mean to say..is a likely scenario.
"That being said you would have be foolish not to think that a potential buyout of all these leases including 88, isn't a likely senerio..As you know the cost of production is hundreds of millions of dollars..huge financial burden for small companies, but not for big oil...either way glta.."
My hope is a Buyout, 88e is a minnow, it does not have the manpower, capital equipment, money etc etc to develop this field, I hope they see that shareholders need to make money at some point or this will become COPL over again.
Just up the road is Conoco and Exxon and they are working together, are they watching?
As Stas and I know from experience with COPL the scenario of a minnow sitting on billions of barrels of oil and losing control of it because they had no money but thought they could do it themselves with wonga lenders.
PANR and 88e are in a unique position of potentially sitting on a basin with billions of barrels.
Both companies appear to be working together for the greater good, both are minnows, both do not have deep pockets, I hope when all testing and data completed they sell to a Major, COPL missed the opportunity because they were run by a bunch of crooks, I am hoping for a TO, Buyout, JV with a major, cannot see any other play, otherwise we go down the never ending placing or borrowing route.
IMO this is too big for an exploration company.
At some point I hope sooner rather than later the major shareholders will want to make money imo.
https://www.marketindex.com.au/asx/88e
"88 Energy has strengthened its technical advisory team to include additional engineering expertise, as well as experienced members of the Pantheon Resources team being available to share their relevant recent and extensive knowledge".
https://www.energy-pedia.com/news/usa/88-energy-commences-hickory-1-flow-test-operations-194470
" Pantheon wells - Alkaid-1, Talitha-A and Theta West-1 - have flowed 35⁰ to 40⁰ API oil from multiple Brookian reservoirs (see Pantheon releases of 7 and 21 February 2022), with independent third-party mapping indicating all of Pantheon's play fairways extend onto Project Icewine East".
https://markets.ft.com/data/announce/detail?dockey=1323-15512023-4PVFC7DG2R4MAPNQ6DSC0VKUHP
Blimey, all this my flow rate next door is bigger than your flow rate, they are testing, all to play for.
"88E’s result is in line with its neighbour directly to the north, UK listed Pantheon Resources - who got flow rates of circa 45-108 barrels of oil per day".
" Hickory-1 is a vertical well, designed to provide information critical to development planning, such as reservoir deliverability, fluid compositions, pressures and connectivity. The well will be used for testing only"
https://www.voxmarkets.co.uk/articles/88-energy-to-begin-hickory-1-flow-test-within-days-targeting-647-million-boe-7901d5a/
"Vertical wells provide cost effective access to test multiple reservoirs in a single wellbore and are therefore the crucial first steps on the path to development of Project Phoenix resources".
https://www.investegate.co.uk/announcement/rns/88-energy-limited-di---88e/hickory-1-flow-test-operations-update/8059690
Yes, one and the same.
Astor resigned December 2021, maybe he saw what was coming down the line, no longer involved.
https://www.lse.co.uk/rns/COPL/appointment-of-nigel-little-as-ned-lwdo99reb38ggb6.html
https://www.theguardian.com/business/2018/mar/29/exxonmobil-liberian-oil-deal-went-ahead-despite-anti-corruption-concerns
https://members.parliament.uk/member/3429/registeredinterests
Https://investing.thisismoney.co.uk/director-dealings/COPL
https://www.marketscreener.com/quote/stock/CANADIAN-OVERSEAS-PETROLE-16252974/company/
Dusterhater, most sites have the same shareholding figures as of yesterday.
Director Shareholdings
Notifier Holding Value*
Arthur S Millholland 2,346,017 £1,349
Massimo Carello 95,479 £55
Harald Ludwig 69,852 £40
Major Shareholders
Notifier** Holding Value*
JON HOWARD 649,638,786 £373,542
McCarthy Tétrault 20,995,964 £12,073
Hadron Capital LLP 19,511,894 £11,219
Anavio Capital Partners LLP 19,511,894 £11,219
Mr James Goozee 13,275,000 £7,633
RBC Dominion Securities Inc. 7,791,496 £4,480
HSBC Holdings Plc 7,062,026 £4,061
InterTrader Limited 4,326,800 £2,488
The Capital Group Companies Inc 227,200 £131
If it is not AZN I wonder what they will do as they enlisted "Renalytix AI to help it develop precision medicine strategies for managing patients with chronic diseases of the cardiovascular system, kidneys and metabolism".
Just thinking aloud!
https://www.fiercebiotech.com/medtech/astrazeneca-taps-renalytixai-for-personalized-kidney-medicine-initiative-at-mount-sinai
I get your point Micky, my thoughts change depending on what side of the bed I get out. Is it a con by AM and the Directors, was he conned, the way everyone has jumped ship apart from Richardson and Cowan makes me think is there another con.
Adnauseam
Posted in: COPL
Posts: 137
Price: 0.325
Hold
RE: Thoughts28 Dec 2023 14:56
Knw777, " legally lied" is perjury after being sworn in in a court of law.
Your statement below is saying that the last 2 years have been a confidence trick on shareholders, if so the consequences to those who perpetrated it, if true, is huge.
Just this fact would drive these persons to find a solution, this is the USA where they do throw people into prison.
I think that AM thought that the very fact COPL are sitting on 1bbl when verified by RS that the banks would come running, they did not.
He completely misjudged the situation, he got wrapped up in his own legend in his lifetime dream.
I still hope that whoever COPL were talking to that they come back to the table, for me after one year it must be about money, if there was no oil this would of been verified ages ago.
Why did the energy company propose a JV, because they know there is oil.
Some on here will say that if COPL go bankrupt that AM would not care, I say he would, the loss of face will hurt, the man that had 1bbl under his feet and lost it, quite a legacy to live with.
Blimey, if it is another company I will eat my hat!
".......urgent need for diagnosis at early-stage kidney disease so patients can receive guideline directed medical treatments.25 At AstraZeneca, we are committed to driving meaningful change for patients with chronic kidney disease by highlighting these gaps in diagnosis and helping to provide HCPs with the tools to proactively screen".
Miroslav Sokolov
Global Commercial Vice President, AstraZeneca
Arthur is improving but could do better.
After sending emails to various oil magazines I had to laugh, "in 2008 with liabilities of US$1.8 billion".
https://www.upstreamonline.com/people/chief-executive-art-millholland-sidelined-as-canadian-player-strives-to-survive/2-1-1513495
It is up to the RENX BOD how long it will take so cannot see a name coming out till after a offer has been accepted.
I have no idea if the shareholders will be asked to vote or not.
"The Formal Sale Process will enable the Board and its advisers to conduct an orderly process and engage more widely with all potentially interested parties, with a view to optimising the outcome for Renalytix's shareholders".
I am guessing it might be AZN as the offer was for the whole "entire issued, and to be issued, share capital of the Company", so no messing around, could be because they know the history with such a confident statement.
No mention of DD in the RNS.
https://www.medicaldevice-network.com/news/renalytix-ai-astrazeneca-precision-medicine-strategies/?cf-view
Thank you to the poster who ticked my post.
There is a JVP out there who did over a years work of DD and now if it bids right wins everything without having to deal with Millholland and all.
51 square mile of Powder River Basin. 3 horizontal wells per mile.
https://www.rigzone.com/news/copl_makes_significant_wyoming_oil_find-14-jan-2022-167591-article/
Let's hope some of it comes our way and let's make sure Millholland and Richardson cannot hide in a consortium bidding for it.
"U.S. oil and gas major Exxon (XOM) now anticipates total annual capital spending and exploration expenses of $23 bln -$25 bln in 2024 and $22 bln -$27 bln annually during 2025-27, while Chevron (CVX) plans $16 bln capex in 2024, up 14% from prior year".
https://seekingalpha.com/news/4081973-global-upstream-oil-and-gas-capex-on-target-to-reach-555-bln-in-2024-jpm?mailingid=34768632&messageid=2900&serial=34768632.55430&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha&utm_term=34768632.55430
Danni Hewson, head of financial analysis at AJ Bell, said: ‘Drug companies have learned their lesson from patent cliffs that they cannot rely on blockbuster treatments forever.
‘They need to keep the pipeline stocked up, acting like a conveyer belt so something else comes along just as an existing treatment loses patent protection and earnings fall victim to generic copycats.
‘Medicine is constantly evolving and today’s patient is hyper-aware of the next big development that could make their treatment more successful and less invasive.’
https://www.thisismoney.co.uk/money/markets/article-13215881/AstraZeneca-boss-ramps-buying-spree-Drugs-giant-2bn-bid-Canadian-cancer-specialist.html
"It will not be anything above this so all suppliers, staff, bondholders or shareholders will see nothing".
Well that will create a lot of very angry people in Canada, USA, UK.
No wonder he sold the house in Hawaii, needs a new hiding place,