George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I didn’t know that baserite - obviously missed my search . Then in that case I suggest the only reason Kola would carry on with Arr is if there’s some advantage to him . And I am not sure what that is given he already has everything he needs . Same as you , I hope I’m wrong to my gut feeling is COPL is screwed and so are we - yet another costly lesson in life .
The Wheelo
Thanks for the clarification , that actually explains a lot to me and may be the reason why there is no performance bond in place , and If it’s true I don’t blame Kola . I apologise if this has already been covered as I drift in and out of this BB . Just for clarification COPL has 40% or whatever of this asset and that’s now fully held in the Shoreline JV.
I spent an hour or so searching for info on Kola a couple of months ago looking at NNPC a whole varied and random search and couldn’t find anything really negative . Seems he’s very smart , very connected and very successful . Then compare that with our experiences of Art ...........
OPL226 May well be a huge asset , but the longer time goes on seems less likely that COPL shareholders will see any of it . I can see a situation where Kola can fulfill his end of the Shoreline commitments but Art can’t. Wtfdik
Totally agree Bonum . As for Oedipus his style of posting is very very similar to Vienna’s all the attacks and the Ha ha crap .
Also I dont believe any of this - oh yeah he sent me an email but asked me not to talk about it, we have the approval but can’t mention it , he’s at the hospital with his wife ( boob job) or his cats died . BS I only barely trust the RNS from him few and far between
I see this as a major credibility issue , could the problem be that the bond can’t be gained because the banks don’t trust art. They have access to far more information than we do . Seriously based on his track record with Copl who would bung in a few mill only to see him burn through it .
Could be wrong could be right wtfdik .
As for Kola . As the saying goes - nothing personal this is business . If OPL226 is as valuable as most believe if it were me I would let COPL wither and die and pick up the pieces .BOOM. Not good for us shareholders but then again does anyone believe art is doing this for us ? No it’s all for himself .
Agree on Baru. Nothing suspicious .
This stock still has huge potential but I suggest punters goodwill is ebbing Away fast.
I guess my main concern at this point is if the new NNPC guy is going over any recent/ hi value decisions and if so the delay that entails . Also irrespective of any donations made to parties Pre election it doesn’t seem to have done this share much good as far as I can see .
Would love to know where the Shoreline/Copl file sits within the intray. If fear it’s not a high priority as far bigger names at play in Nigeria.
As to financing..... either alt or another placing . I would suggest that depends on how good a pitch Art can make to the banks . If it’s a good one and they beleive him then alt will happen and the bond will be gained . If not then I see further placing and bond delay . An RNS with that bond is I suggest key here . It verified that the big money believes he can do it .
Morning all .been reading regularly but the more astute will notice haven’t posted for a while - so looking forward to all the “Deramper pitchforks and torch mob angry replies “ Reading the posts
It’s like Groundhog Day except no Harry in this version .
Just as a side perspective while all this (I.e nothing but placings). Has been going on at COPL Hurricane have contracted Aoka Mizu FPSO , refurbed it , Sailed from Middle East to North Sea , resupplied , failed hook up , hung around in port , retry, successfully hookup , test , oil , and sold first load to BP . Diversified Gas and Oil have emerged as largest Aim oil producer by gobbling up wells from larger producers and first dividend . Prospex have produced first gas in Romania, bought larger share of field , tested new wells, advanced Tessorillo.
Meanwhile in the dusty Canadian COPL offices zzzzzzzzz. What what did I nod off again ! Oh dear me are we are nearly out of money again , let’s discuss a placing over lunch - shall we go to the Ivy in London. ......, We can say “Progress” on the bond It all moving along, dont mention Agamore unless we have to , Delay! no my dear fellow not a problem let’s say it’s down to Africa time, elections , difficulty of doing business in Nigeria - usual stuff . Drop in Mozambique again that usually titillates the plebs . It is absolutely hilarious - couldn’t make it up .
Yes Arthur is invested - but unlike everyone on here he’s been drawing a regular salary from COPL and dilution is immaterial to him . I wonder if his salary to-date equates to his shareholding total ? No idea but probably close . He was very impressive in the North Sea until it all went tits up In a major way - but not anything he was responsible for - totally out of his control , he was only running the show . Market forces and all that.
Well I thought he could pull this one off, lot of Hubris , Yes I’ve been a strong critic which doesn’t mean I don’t want the so to rise and make a ton of money btw- the two are not exclusive. I thought there was a smidgen of a ten bagger at least . Now I can only describe it as a very rainy bonfire night and a lit but smouldering Roman candle . May go off , may die but very nervous about going back to check .
HaHaHa Vienna. Oh Vienna ! Haven’t changed still a prick.
I have a life outside of this BB - unlike HarryMann and you . HarryMann can you post updates every 30 seconds from now on as Vienna can’t read the charts ...........
Nothings changed since I last posted - a while back . No Dynamics have changed . No dynamics have emerged .
I have no idea why the surge - maybe pure speculation . Maybe shorts believing it couldn’t possibly go lower and banking it .
I was wrong I admit it . I thought a placing would be end March at 0.18 when the price was circa 0.22 If I remember correctly . Didn’t guess it would sink to sub 0.1
But it did didn’t it - all those ten bagger rampers went quiet - you included . Are those the dynamics you are spouting about .
I don’t have multiple logins . Ones enough to have a roll of eyes at your Repetitive HaHa at the end of every sentence .
You were absent for a while also ........... I can fully believe you have multiple logins from your constant attack strategy . But then I do also notice you get your rocks off attacking other posters . Enjoy.
Obtain . You keep on stating I’m not invested - you are so transparent . Like the lottery it’s a gamble . Keep on attacking and I will keep on rebuffing until you crawl into your shell like last time .
I haven’t posted in a while before today , been watching the dynamics/ new posters/ rumour mill - it’s fascinating the outright falsehoods and wild speculations either way . Rampers and derampers abound .
10 bagger at 0.5p and now still a 10 bagger at 0.14 - you get the gist .
In my humble opinion good news and we will see a large spike . YEY!
Unfortunately Arts track record is like a wet blanket on this stock .
I’d equate it to putting my 10 quid a week on the lottery at this point .
If it does spike then I will be as pleased as any , but but but . I wouldn’t surprised if it fizzles to nothing . 5y Chart !
Dunc. I challenge posts which are so obviously positive so we probably balance each other out . Ying and Yang When we get good news I will applaud and back it, I just cannot back the barrages of ramping that occur sporadically sucking others into losing money based on heavily spun fantasies . I’m not saying you do that Dunc , I have a great respect for your posts .
I do however believe Freedoms right , our chit chat has very little effect on the SP . Regular RNS and any company stating and then hitting targets has the biggest effect IMO.
At this point in the game BBC World service is probably the best place for information, Vanguard News is also pretty up to date
https://www.vanguardngr.com
Dunc and Funk - once again you condemn posters who give a view opposite to what you post . It’s not your place to say who posts and what they say . Everyone’s opinions matter and if you don’t like those views then let’s have some actual facts to try and change peoples minds rather than slagging them off. You carry on trying to talk the price up. And others will try and oppose those views . That’s life matey . Get over it
Just to add fuel to the fire . Looking more and more like no news and moneys slowly running out so 0.15p placing in March for 10$mill plus a years running costs.
Everyone’s on here to make money one way or another .....
I agree Dunc , he’s not intentionally shareholder value destructive. I’m just not sure he cares.and that makes Be angry as the first rule of a director is maximising shareholder value.
Shareholders are a means to an end and his cash involvement is very low indeed as are the other Directors, conspicuous by their absence , big names no action. Kolas in Big with Shoreline but not Art. But then Kolas probably got all sorts of other reasons for being involved in this . Arts strategy worries me as it’s switch and bait , black box Africa and we have Kola to sort that ! And Essar getting ministerial approval!!! That’s gone we’ll hasnt it. . As other posters have suggested we will start getting more trickle feed emails of how positive he is and everything’s moving along nicely and yes we have approval but they can’t announce it yet and we have 1 /2 /3 SPs knocking on our door. Still as an assert there is the guaranteed oil there...... isn’t there ? Seismic reports guarantee it , that must be 100% definite. He WAS a medium sized player and that went tits up on his watch . Now he’s a small player sponge who is u
Diluting shareholder value.
While Arthur’s being on this project other companies in Africa have bought, approved, drilled, drilled again, struck , some dusters some oil and produced.
Meanwhile COPL have basically dragged their feet from a huge Media explosion to drip feeding friendly emailers, and creating more grandiose scenarios requiring more placements.
How many people on this board just want him to prove one well and start pumping and get their sunk money back at the least and hopefully a profit.
I’m doubtful that we will hear any meaningful news until a couple of weeks after the election results are announced . I am hoping that it’s a clean election result because if it isn’t then all sorts of chaos will descend .
If it’s a slam dunk for one or the other it will take a couple of weeks to keep/ change cabinet members ( last time) and then the Minister for Petroleum May give the approvals . Are we at the top of the pile or the bottom . I would suggest we are small fish so probably the middle . Finger in the air -being Positive - news could be as soon as early March Being negative however it moves to April . I accept you disagree but I’m not sure it’s Arthurs choice in terms of when to place in that he always said “April or Before” I can see a potential scenario where a placing is announced for mid - March. I also suggest that it will be at a low sp (0.15) and a high value to cover operating costs, still start and this “ addition Acquisition”
I’m not an oil magnate , but I have dealt with Multi Mill $ long projects. You do not over complicate you set achievable goals and then meet them. If you don’t then you are held accountable. That’s not the case here . He needs to scale back the project and do the only thing we are bothered about , Prove Oil and in that way start the SP climb back up based on Facts not Ficti
Copl/Shoreline not the only ones awaiting ministerial consent
https://mobile.offshoreenergytoday.com/lekoil-awaits-judgement-on-nigerian-offshore-license/
Sorry All my pensions sounds pretentious , I just had quite a few jobs over a number of years so small amounts scattered about
I got the same Aoka Mizu out of port as well . Got excited but then looked later , maybe moving out to let someone else in while the ropes delivered .
I’m with HL , and trade with them but use a couple of more sophisticated sites to chart longer term .
I like HL , moved all my pensions into one account with them preparing for a future flex drawdown thing .
I read the Times article as well . Interesting that BP dumped a load of African licences last year ( at a loss) and now are piling back in over here .
Less risk ?
Oulberta I agree . There won’t be a drill this year on OPL 226 , Mozambique spin is ratcheting up to deflect away from the failures to achieve any important progress with NNPC or ministerial approval of Essar buy. spin spin spin . Watch Arts interview , he has a number of tells. Waffling on most of the time . Interesting in that he clarified that Shoreline needs to divvy up for 20 mill for any drill program so that’s 10 mill from Copl . Wonder how much the next placing will be .1 years salaries plus 10 mill ?
No it wasn’t a buy from me . I did check what the Best Buy price was a couple of times those couple of big buys didn’t affect the price much at all . So not low enough for me yet . As I have clearly stated I may buy at 0.15p or lower to add to my dismally performing holdings from last year .
Have a great weekend everyone . Looking forward to Duncs next creative spin .
I’m intrigued to know what trading platform won’t let a buy of more than 4mill tho, I’ve only had one problem getting any quotes and that was months ago.