Member Info for ART123

xchange rate is 1.72 so 0.56 = 32.5p

This link gives more up to date prices than the Bloomberg link posted earlier:

https://ca.finance.yahoo.com/quote/XOP.CN/

The interview seems to be making the difference here. Maybe a longer one, say 30 minutes, would be a good idea.

The big difference between this share and many similar shares, including 88e, is that COPL just doesn't seem to have any upside.

This bloody shares moves in one direction and only one and that is downwards.

And then it just doesn't stop for a breather or bother to rise up now and again - it just keeps going down, down down.

It is very frustrating.

It's not as if this is one of those unpopular, unnoticed, unloved AIM tiddlers that can sometimes end up falling continually. This is share is very popular with this bully board and generally the posts are positive. And it certainly isn't overvalued. Very strange - and very annoying. Can we, should we blame the Canadians?

Even Chariot with their gas shows and possible discovery has managed a 38% rise which is holding well and will no doubt lead to a further rise tomorrow.

Here, however, with the earlier rise not holding this is quite likely to go back down tomorrow.

I really don't like this share.

I bought in after the suspension when everyone was saying that it was heading for what is now £1 but it did nothing but dip and dip and dip to as low as 16p.

Now on today's news I have bought more and I'm still holding the p[revious lot and the share price is doing exactly the same as before - down, down, down.

It's just ridiculous.

The 88E 10 bag rise last March was only during the drilling phase. At the end the management weren't really sure if they had hit the motherload or not, hence why the share price dipped back down from a 4.5p peak to 1p.

We have this oil already. This is a 'significant oil discovery'.

Despite a slowish start this could and should keep rising for the next 3/4 weeks.

In March 2021, when oil was about $60 a barrel for US Crude, the 88E share price rose from 0.45p to 4.5p in a month. With 12Billion shares in issue at the time the max m/cap was £540 Million - oh, and 88E were still trying to find their oil and it certainly wasn't a discovery!!!!!!!

This could be quite a month.

So much for the warrants paying for the drill!!!!!

I said they'd have to do a placing or a Loan Note - they've done both anyway.

As for the RNS today - it reads more like a horror story.

The contract for the Well Site Survey was awarded on 5th October. Over two months later that still hasn't even been done:

"COSL has currently assigned the NH8 drill rig to drill the Jade prospect. The Company engaged COSL back in October to complete a required well site survey over the Jade drill location. The well site survey requires 5 days of suitable sea conditions, including swells less than 1.2m, in order to complete this survey. Sea conditions have not allowed this survey to proceed as at today's date. The Company and COSL will complete this survey as soon as sea conditions allow, and the survey vessel is fully equipped and on standby to mobilise immediately should weather conditions allow."

None of the permits have yet been granted:

"The well site survey is critical to 2 of 8 essential permits required to drill. A total of 5 permit applications have already been made and are expected to be granted in the coming weeks. The last permit relates to the oil spill response plan which is currently nearing completion and expected to be lodged within the coming week. As these permits are granted, the Company will provide updates by way of announcement."

And they've managed to lose the deposit funds already. Talk about incompetent.

"Cyber Fraud Incident
The Company recently made a payment totalling US$1.98 million to China Oilfield Services Limited ("COSL"), representing a 10% deposit (US$1.23m) on the dry hole cost component of the Integrated Drilling Contract ("IDC") signed with COSL plus mobilisation costs (US$0.75m); however, the Company has been informed that this payment has not been received by COSL and appears to have been redirected to an unknown third party as a result of a sophisticated cyber fraud perpetrated against COSL and the Company."

"The Company is currently working with its bank, the recipient bank and the police authorities in three jurisdictions and can confirm that the recipient bank account has been frozen and that recovery actions have commenced. It is not known at this stage whether the full funds will be recovered. The Company has notified and opened case files with the police in the UK, Singapore and the Federal Police in Australia and criminal investigations have duly commenced. The Company has notified its insurers and has also taken action to ensure the integrity of its own IT systems."

At this rate they will need more funds before the drill even starts. Never mind they can always get another Loan Note.

AJMO

That's basically what I was saying here recently. There is not enough going on here to sustain the current share price/mcap (£23M). More acquisitions are failing to impress investors and none of the projects are sufficiently advanced to create any value.

To be honest PJ will be lucky to even get any of the planned IPO's off the ground with the market as it is at the moment. That could all fall flat too - or be IPO'd at such a low valuation that it isn't worth the bother.

The daily chart is heading down too - certainly to 1.5p and maybe lower.

I've averaged down several times here without much success because it's all just too many acquisitions none of which appear to be much more than speculation.

Now the share price is falling with placings already diluting the m/cap and nothing much to take the share price upwards - apart from more dubious acquisitions.

Of course, the problem is that he may well be the same with his acquisitions and he doesn't know if he's got a good one yet or not. Or maybe he's still trying to get back the one w=that got away - GGP -

Read this:

https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/holding-in-company/201706291455536261J/

Personally If I'd held 93,715,242 shares in Greatland Gold in June 2017 and I didn't still hold them today then I'd certainly be a bit ****ed of. Even at today's SP, after their placing, that's still a holding worth over £14Million.

Willu17

I'm not sure if there has been a consolidation but I do know that my acquisition was at 7.5p equivalent. I had previously held SULA shares and made a very good return but that was my last acquisition when the gold prospect was looking good before Nick left and everything starting going belly up.

At one stage the share price was as low as 0.40p which gave me about a 95% paper loss.

As for Paul Johnson, as he was keen to point out fairly recently, he was the one, along with his mate Andrew Bell, who refinanced Greatland Gold from the brink of receivership. He was not the one however who oversaw Greatland Gold go from an AIM minnow to a £1Billion+ company. He left before that journey even started.

Paul Johnson and Andrew Bell stepped down from the board of GGP in August 2016 - https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/directorate-changes/201608081430025523G/

and GGP acquired the Haveiron prospect in September 2016 - https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/acquisition-of-havieron-gold-project/201609260717557810K/

so for all his acquisition skill and ability, Paul Johnson embarrassingly was gone from the board before GGP acquired their biggest asset.

Make of that what you want.

Maybe if Paul Johnson had stayed on another month or two at GGP and then stayed after the Haveiron acquisition, then he may not still be playing the acquisition game now.

In fact Paul Johnson's lack of foresight was appalling. After refinancing GGP he and Metal Tiger both owned a fair sized chunk of GGP - https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/holding-in-company/201706291455536261J/

but these shares were all sold off for about 0.33p - https://www.investegate.co.uk/greatland-gold-plc--ggp-/rns/holding-in-company/201710050903167940S/

when a couple of years later the share price went to 30p plus making PJ's 4.72% holding worth a staggering £28 Million!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Instead he sold those shares at 0.33p for about £280,000!!!!!!!!!!!!!!!!!!!!!!!!

What a missed opportunity!!!!!!!!!!!!!!!!!!!!

Curn - if you can't handle other people's posts or opinions then maybe you shouldn't be here or investing.

Filters are for wimps - or for people who are actually worried about the progress here - or the apparent lack of it - apart from the acquisitions that is, which are still appearing thick and fast.

Nick Warrel - founder of SULA and a Sierra Leone honorary chief - was fine and built a company with reasonable prospects.

Roger Murphy was the plonker who ruined it all. He changed the name to African Battery Minerals - and acquired the Cobalt prospect in the DRCongo, which never came to anything, and then let the existing assets lapse and was then gone a year later when Paul Johnson took over. Johnson has actually been here for 3 years with not a lot to show for it apart from a lot of acquisition/prospects.

Yes the share price has gone up from a ridiculous low since PJ refinanced the company, but it's still nowhere near where it was when Nick Werrel was in charge with the Sierra Leone iron ore and gold proven assets.

He hasn't spun out any yet, despite the talk and the waiting, and if these projects just get IPO'd with a modest few million m/cap, which is most likely as they do not have any proven assets, then it still won't make much difference to the share price here.

This is becoming a very slow game with not much upside immediately visible on the horizon.

It's a shame really that the CEO here before Paul Johnson (and after the original CEO whose name escapes me at the moment) let go the 2 assets in Sierra Leone - iron ore and gold - which were much more advanced than any of the current projects.

There was a certain worry about ebola at the time in West Africa, which while yes it was serious and a risk to employees of mining companies only claimed a modest 12,000 deaths - tiny compared to the 5,000,000 deaths worldwide from Covid.

The shares I bought at the time were at 7.5p and that was cheap at the time.

PJ would have had a field day if he had inherited those 2 assets. Instead they were just wasted - and after years of hard work proving up the resources.

I feel that one good asset would be worth all of the rest of these put together!!!!!!!!!

Irrelevant of whether RRR are selling here or not this constant stream of new acquisitions is going to do absolutely nothing for the share price and M/CAP.

Eventually there will be so many prospects to drill that the costs will be enormous and there will be a lot of dilution - and even then there is no guarantee of finding the monster asset(s) that might shift the SP upwards by any significant amount.

This is very frustrating and it is likely to take a few years to achieve anything here.