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You do have a desperate and emotional propensity to misquote others in a vain attempt to gain some illusion of credibility.
I also like your selection of doctored cut and paste from financial articles in a pathetic attempt to elevate your post from vaguely delusional and mundane to quite hallucinatory.
Oh by the way, have you found that section in the petroleum regs that states the authority has to give 60 days notice ?
No! Didn't think so as it doesn't exist.
Have you asked your mate Art who is the legal signatory necessary if this ephemeral NNPC meet is ever gained ?
No ! Didn't think so? Its Kola Karim- not Essar - Essar don't own the majority until NNPC sign the extension.
Oh where does highly focussed Kola Karim the dog coat obsessed Twitter poster live - Nigeria - wait isnt that the same country as the NNPC?
Have you asked Art or Kola about the Extension fee payable to the NNPC for an OPL Extension?
No ! Didnt think so. Conveniently ignored.
"Rightly laughed off the board"- in your little head that is. Im supposedly reported for breaching regs- nothing happens
I'm supposedly filtered because you don't like my comments but so many of you just cant resist the urge to attempt a dig.
Its just there up above this post the filter button............ I almost pity you, but not quite.
Still here to the chagrin of some . I read the posts every day when I get a spare 10 mins or so.
That’s a good summary Tilburn . I appreciate you taking the time out to compile it . My error in shallow- deep costs of production - well..........spotted .
If all the ducks line up that’s a realistic return with oil sp at 40 .
Nice post Tiburn . Its back of fag packet though not fine accounting practices as espoused by the “seasoned investor “ Petro ..... ( The Upside v downside scenario is unbeatable here, imo, and that includes any other investment I hold.) mmm well done seasoned investor - in this case means been around and learned nothing but desperate to create some kind of illusion of intellect.
May I suggest if this project gets to that point ( which I doubt for the many holes in the project progressing further which the rampers have failed to respond to ........ ) then the large and ever increasing number of shares In the market ( yarf has an option to convert their loan to shares at a very attractive sub rate ) and the fine tuning of 5.2 billion + shares and an extraction cost of $28.99 ( Not 20 Not sure where you picked that out of thin air ?) And the small matters of additional costs of OPL extension fee conveniently ignored (5-7 mill) plus drill costs To Copl ( carry cost for an accountant doesn’t mean free it means cover and will be recoverable) out of royalties so that’s another 5 mill down , cost to buy that additional percentage from Essar ...... missed out completely and so it goes on . ....... shares are pretty much worthless unless you can gain on day/week speculation bounced by rampers.
The only people Really making money on this share are those carrying out the placing and beneficial loans, finders fees and sub par options being continuously dumped while the price is floating around 0.2-03 .
Many keep commenting - why would you sell when it’s at 0.2- 0.3 . They must be mad ........ been there before . Smoke screens of staff options at 0.3 mean nothing if they do t take them up and converting staff debt to stock also means no positive belief - it’s just a way to get something out of a sinking ship .
The cost of oil production per barrel is highest in the United Kingdom, where it stands at about $44.33 (based on geological reasons), and lowest in Saudi Arabia, at $8.98. Nigeria is believed to be the third-highest at $28.99 after Brazil, which is $34.99. In Iran, the cost is only $9 and $10 in Iraq.
Its ironic that those who claim I am desperate and emotional , and others who can only resort to bully tactics and name calling are the ones who conveniently fail to see the large holes in this stock.
My motives are my own.
As I've said on many occasions . If you don't like what I say use the filter . Its right there awaiting you.
If you continue to misrepresent the Definitive agreement, legal position, ownership, Licences, extensions, termination clauses then I will continue to post - simple as that .
Got to go .
Nite
The tax regiime is not ooaque , its all written down in the petroleum legislation . Its very convenient for you to label it opaque.
Factor in all the costs , ( in the COPL presentatiions) even with a covid discount, all the taxes, OPL toOML fees ,approvals , timedelays, the literally 6 monthly massive increase in shares shares and the miniscule 10% COPL ownership .
Its redundant because you are ignoriing todays issues and gettiing way ahead of yourself - dreami g of palm trees and ****tails .
Again point me to the paragraph in the legislation where the NNPC has to give 60 days notice of tefmi ation if existing or an expired licence ......
You obviously spent a lot of time on that post . Pity most of it is redundant and I suggest you take a look at the licensing fees and royalties paid to NNPC .
Here’s a question for all you believers .
Have any of you read the Nigerian petroleum act ?
If you have then please direct me to the section where it states the authority has to give 60 days notice to the assignee of termination!
The assignee has to give 60 days to the authority but far as I can see not the other way around .
Also hate to bring the up but the licence is now lapsed .
OK 5 year chart Bad
1 year chart good
Hows that 3 month chart
hows that 1 month chart
hows that 5 day chart
hows that 1 day chart.
The recent Surge in the COPL share price was instigated by the Definitive Agreement.
What many of you fail to accept is:
Scenario 1
1. Shoreline gave 70% of ESSAR Nigeria back, so your COPL % of the company that owns the field dropped from 35% to 5%
2, The reason ESSAR raised the court case was that they claimed that Shoreline was delinquent on its financial and strategic obligations - being to get the deal done through NNPC and pay monies into the Nigerian Company . They were obviously right why else waas the definitive agreement reached , which ties Shorelines hands further.
3. Ask Arthur what heppens if on 31st January 2021 NNPC Extension is not given and Essar Mauritius and Shoreline cannot agree to extend the definitive agreement ? Its written in the agreement . Essar pays Shoreline historic minimal costs and gets the lot. Win Win for Essar now focussing on OIL.
Scenario 2
Kola gets that meeting with NNPC and signs the extension before 3st Jan then SP Rockets
If you believe Scenario 2 then fill your boots at this low price.
A lot of you need to really calm down , spend some time away from this BB and get a good nights sleep. It really affecting your judgement .
Gotta go . I have a business dinner.. Ta Ta.
Baserite . Are you Jealous.? It would be completely wrong for me to say that you are one of the worst perpetrators of aggressive posting, vile language and downright bullying. No I wouldn't say that. Some people may say that you try to hound out opposing views and use intimidation to do it with your friends. Not me . No I wouldnt say that at all . Look up see that Tab that says filter . Use it Hows that Reporting me getting on by the way............
Thank you .
I find it bizarre that you are not here to "mother" or "spoon feed" me but then pathetically attempt do just that with a rather unpleasant and condescending manner suggesting I'm emotional... Quite the contrary- I look at all the facts , and unlike some can learn from history.
If your time is better spent elsewhere ..Simply stop responding - or even better filter me out. I didn't ask for a 101 Investing lesson from you. Why would I? I'm not saying that you lack any investing skills whatsoever and are incapable of looking at the full record of a company, its positives and negatives and its stock and placement record and not emotionally knee jerking to the latest spangly thing AM presents to you. No that would be quite wrong of me!
I do like like the way however you selectively edit out the sections that don't support your argument from my comments, it's a nice attempt to redeem some of your "bruised ego". I also applaud your endeavours to slip in untruths in the hope they may ultimately become accepted, eg Current Travel Meeting issues which should be resolved shortly. Says who - certainly not Arthur? His recent inteview was over 70% focussed on Covid difficulties and how nobody wants to isolate for 14 days - no why would hge do that giving an interview from.... his home possibly.
What he didnt say was that ESSAR is directly responsible for the signing, and why would he . He intimated it but didn't come right out and say it.
Correct me if I'm wrong but Kola Karim is the the senior board Executive of Essar Nigeria and as such is able to sign any legal agreement with NNPC, hes done it before for his OML30. It doesnt need Essar or AM.
As for looking at the investment with Fresh Eyes and in context, I suggest you take off those blinkers .
Checkout the NNPC Tweets . meetings going on.................
I’m sorry , do you understand the English language or are you just trying to play dumb .
Once again pay attention . I didn’t say won’t I said it’s not a given .
I dont shout , I Post when others post rubbish .
You suggest My argument is redundant because I’m taking the previous Essar Issue as negative...... mmm nice approach . It isn’t a previous Essar issue it’s very much current, due to Shorecans inability to move this forward Essar have regained 70% of Essar Nigeria and if the extension is not gained by the extended end Jan 2021 then Shorecan - and hence COPL will not have any interest in Essar Nigeria.
I applaud you for your confidence . Buy low and sell high
Look at all the placement prices and where we are now and how many shares are outstanding now compared to say 2 years ago . Effectively the company is no further forward . Still awaiting NNPC approval
You are very predictable
Spout a load of rubbish and then conveniently ignore it and move into attack mode
If you don’t like to hear the truth then filter me out , it’s that button just above here ......