Member Info for Altag

Jam Goo - nice one:) , some of us put our money where our mouths are like the great man WB ….copl gonna multibag over the next few months, cam feel it in my bones !

Good to see James's TR1 ...... that's three in as many weeks

I'm currently on 20m so just under the TR1 threshold of 5% as COPL is an Non UK issuer wonder how many others are lurking just below the 5% limit?

Is 5% - COPL non uk issuer

Tr1 rns is great news on a number of fronts......loving some of the naysayers comments to the contrary.... pmsl at some of the issues being raised.

Our Legal firm which is in possession of more info than us PI's has taken 20m odd shares in March, probably at 6.75p as per the other creditors ie the bondholders and has held on to them. What is not to like!

There appears to be a bit of confusion on the put and call options copl has. My understanding is that the $60 put option is COPL’s option (but not obligation) to sell x amount of barrels at $60. It was put in place as hedge in case WTI fell below that level.

The call options that are in place starting 1st July at $52.87 are held by a third party, this gives them the contracted right to make copl sell the first 947 barrels of oil at that price at 1st July, at 1st Jan 24 its first 1,000 barrels. This was a requirement of the senior credit lender I believe.

So getting our production levels up is imperative so that we can sell the surplus production at the market rates. I see it as no coincidence that the copl management delayed these call options to Q3 23 to allow them to do the pipeline upgrades in Q2.

Hope the above helps clarify the position.

WTI currently above $80

Now we have bond funding there won’t be any going concern note in the financials which would have needed to be there if that raise hadn’t taken place. JV and RBL would have been difficult to get sign off by the counterparty with a GC note in the most recent set of financials

Eazy - per your post at 12pm, no not me today, been stuck in unscheduled meetings all day…..Nice to see decent volume and the share price go north for once!

Intothedeep - they took $8m of the recent bonds, as per filing on Sedar, one of the $4m you are seeing is dated 31-12-22 and relates to the tap facility that was drawn down and rns’d on 4/1/23. Hope that clarifies

From about 10:20 the 300k, 200k, 100k and 150k are mine........I'll be back in probably tomorrow if peeps ie warrant/bondholder or indeed anyone else fancies selling them to me at this price. Too much doom and gloom on here

Big Bench should get the 2022 reserve report at same time as 2022 financials , as per the 1st feb rns under the financing initiates section:-

The Company has engaged with numerous US and International banks and institutional debt investors and expects to secure a term sheet based on its 2022 year-end reserve report for the Wyoming Assets, which is expected to be available in late February 2023 and, will be published in late March 2023 at the time COPL files its 31 December 2022 annual audited financial statements.

Companies house won’t help you, they are Cayman based - Anavio Equity Capital Markets Master Fund Limited

For those that say Anavio are selling….if they were you’d see it reported on this form

4.5c of regulations says any movement up or down in holding of more than 2.5% needs to be declared

https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/44_83_2000

With WTI being so volatile it is worth remembering that we currently have some price protection as per the rns 21 dec -

“……WTI puts to provide downside protection for the first half of 2023 on 750 bbls/d at $60.00/bbl.”

SMiSHMAN75…..I will play it by ear and targets depend on what the BoD can deliver. On them investing money and getting production materially up I see this at 10-15p, Rbl 20p and JV who knows depends on who it is and the plan. Those numbers include dilution discussed previously although I think if cards are plated right we might not get the 1bn number people are quoting. I am a finance guy not an oiler I look for distressed positions and then load up. But anyone’s guess is as good as mine as none of us know the future

Example would be PREM (look at my posting history) lithium play took c200m few years ago at average below 0.06. Still have over 180m and price is around 0.8 today so a reasonable multi bagger and I’ve stripped out the initial investment but I still hold the majority because I like the story still….that’s not meant as a cross ramp rather an illustration of fact I try and invest without specific selling targets in mind….although I do sell if the opportunity is better elsewhere

For sake of clarity I actually currently own 11.225m average is just under 6.5p as unfortunately I was in here pre-prospectus. I’m by no way overstretched in this position

No TR1 needed until cross the 5% threshold….copl is non-uk issuer. A knowledgeable poster on a WhatsApp group I’m in made me aware of that and I’ve had that confirmed by Cathy

Can understand scepticism but not a problem for me if you don’t believe, I don’t believe half of what is posted here either!

I was the 350k, 150k, 300k, 325K

Not Arts tea lady unfortunately ....was me ....over 10m now....silly price when you look at the assets and also funded for rest of the year

161 bonds outstanding not 181 gives 394m if all converted not the 443m …. Not much difference but every little helps

2024 bonds last conversion rns 17/2 said 50 outstanding
2025 bonds last conversion rns 7/3 said 43 outstanding
New bonds $13.6m @ 200k clips is 68 outstanding

20 difference between 181 and the 161 I have it as ….might be the 20 converted on 7/3 rns?

Also facts

The Rbl and JV may produce some cash to allow us to pay back some of the bonds in cash, we can’t do that unless the senior lender is paid back

The conversion payment is done on a 5 day vwap so that is really difficult to calculate at the moment , especially as it’s timing related to what interest has been accrued. Not sure you can use a historic calc to say what that will be with any degree of accuracy?

So there is also potential for less shares to be issued also

120m outstanding warrants would see c£8m come into the companies coffers not too shabby when you consider the current market cap in c£17m

I don’t doubt we will be diluted from here but saying over 1 bn is just a guess at the moment