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I should imagine the 1,700,000,000 barrels of oil will still be there by Monday, indeed any Monday we care to mention. Our frustration may be piqued but additional days or weeks bringing this home will not change the $$ required to JV or the motivation to lend the RBL given the size of the security :-)
Keeping the faith - let’s see production numbers :~)
Book value of property, plant and equipment US$120.4
Makes 0 sense!
Keep the faith Wookie :~)
This can and will turn upwards, it certainly doesn’t feel like it will this month but it will turn, quite possibly highly explosive …
London, I have just watched and rewatched the IG presentation, I completely agree with you.
Whilst it is completely understandable that many on here are sick and tired of the journey, in part due to Art’s comms and in part due to other posters on here deliberately poking the bear; the broad direction of travel is very positive. Whilst the timelines slip, they, that is just it, they slip, they are not rolling away at speed. Not only that, there are three distinct assets and the 100% ownership is greatly facilitating the JV conditions - so big latent win right their and strategically the right choice.
I hope and expect that in Dec/Jan our production will be such that we are well above break even; a JV is confirmed and either RBL is redundant due to JV or it is secured to clear current chronically oppressive terms. Obviously we will need to endure the bear pokers every day until that time or shortly thereafter.
Many suggest Art lies and I did think that but looking back at his presentations I honestly believe he is soooooo transparent and happy to share the finest detail to demonstrate he is trustworthy. On that basis, he has an enormous project and a very small company - engineering, geology, financial, legal… it is coming together; we are moving through the stormy waters, endlessly, however each day takes us closer towards calmer seas!
Keep the faith
Onwards and upwards
Not sticking to published and shared information communicated to share holders is not acceptable for a CEO. For this share to zoom now we will need to churn @ £22,500,000 worth of shares when one includes warrants and bonds. Any lack of efficiency in communication frustrates the timeline as II will rightly second guess the level of risk to their money - that is patently obvious when we look at the journey so far. Therefore it will take longer to zoooooom. I woul dlike it to zoom back above 34.5p so I can sleep again at night :-)
Taking incremental gains concept from sport to optimise performance it seems obvious that reporting information accurately and transparently to your shareholders who account for the overwhelming majority of shares will be a rich and fruitful vein to improve. And will frustrate TW at which I would genuinely love to see
I remain in the £1 by Christmas gang but getting a little more nervous that will not be realised after this week....
Onwards and upwards
End of September beginning of October - recorded on presentation. The irksome bit is that was not properly addressed at the IG presentation and the JV was stuffed into the last few seconds. I am concerned that there is an apparent change in strategy and it is not being communicated transparently which can only cause harm again because of clear trust issues which TW at and his mates will make hay with. Art doesn't want that, I don't want that and I imagine 99% of holders don't so build trust, faith and confidence so TW at cannot operate with impunity in the way he and other have.
Bring it home Art we think you are great really but my God you are frustrating :-)
Is that just because he has wonky chairs though :-)
Apologies for cyncism but my patience with this is being sorely tested - get stuff out when you say you will (RBL) or keep the market updated of a change. Very simple, build trust, faith and confidence - SP goes up and we move through the overhang into blue sky territory :-)
And that Edgein aligns with Simply Wall Street Fair value at this stage :-) Sonner rather than later I hope...
I think I am starting to get this now. My calculations suggest either we churn the remaining warrants and bonds @ 150,000,000 value at 15p would be £22,500,000 some or all of which will hit the market - hence those looking at this and in charge of II funds will presumably wait for that to play out to reduce risk
or
Game changing news will allow the share to push through the inevitable selling through the bonds and warrants. Game changing news would clearly need to be:
£/$ into COPL bank account through
JV
Increased Production
At which point, a proportion of shares could even be taken of the table.
I like many here have been looking at the asset in awe and taken by the presentations etc
However cold hard facts - the necessary share dilution must play out and will affect any rise until its done over time or is done due to an event.
The JV may be that event but it may not given recent history and nobody has a clue how much money will be exchanged and how that will match against the warrant and bond overhang. No news has yet been sufficient.
The JV and the RBL and the increased production may collectively punch through the clear overhand and concern of those with big money.
I am not selling any and will conitnue to manage my own frustration but understanding the overhang reduces my disappointment and the MM conspiracy theories. They are just working the sells by the looks iof it as the share count increases.
I am not saying I am right just my interpretation of the craziness, happy to discuss and would be really happy to be £1 + which fair values suggests without the additional bonds and warrants.
Onwards and upwards
He did say RBL at the end of last month... Art is great and frustrating in equal measure. Let's hope he really does stick to the JV and RBL formal announcement this month so he doesn't give even more ammunition for those who like to use it effectively against the bewildering SP.
Onwards and upwards - if quite frustrated with this journey today
Well, we seem to be doing a little better than both of the other companies represented on IG last night - they also seemed to have great news but are RED.
Sometimes there seems to be a delayed reaction to news whilst investors sort themselves out - sitting on numb hands now
The news is great but AM MUST NOT continue to give deadlines even woolly one and not meet them - he is shooting himself and by that I mean me in the foot. Equally, presentation was appallingly structured - but contained truly amazing information. Get the key details out on the first slide and then go into the detail as time allows or just keep saying JOINT VENTURE THIS MONTH ANDF SMILE.
Art I support your engineering experience, candour, willingness to share detail and your apparent honesty but for God sake
1. stick to timescales or notify well in advance of any change - building trust and professionalism
2. get some advice on presentation and clarity of messaging
The short answers at the end were perfect - start with them on the presentation - NOT pushed into because of interviewer chasing you for time.
Onwards and upwards
Right, come on, which one of you was the unsophisticated trader that caused all this trouble
You have let COPL down
You have let the BB down and,
you have let yourself down
:-) Art wants to see you in his office for a proper telling off; also any trading in a box apparently is in trouble - why on earth would you trade in a box, it would have to be quite big
Onwards and upwards
Maybe it did... although things are unquestionably bad (unless entering now) - he may be right and the report release could be used to undermine and FUD whilst the engineering fixes and improvements are not yet completed...