Member Info for BigBear2

Not so much biting nails just waiting for churn to be done which looks well under way.
RNS for completion should be Tues am (as assume being completed in US time zone)
So hopefully by Friday we should be at least back around the 0.4 mark.

Pretty sure these are just shares changing hands from larger players

It’s the only reason why we are not up now big time last few chunky sells being worked prior to news next week. also keeps VWAP where they want it for atomic owners shares...

Also add to this no matter what you say about Art one thing he does know is how to QUICKLY ramp up production in an oil field.

I am not saying it will cover it just that it will offset it. I guess the point is we are now fully funded for the flooding and as production goes up hence any cost of the flooding is offset by a greater amount. So despite all the negativity around the placing it actually makes sense that they have their own cash sorted to dramatically increase production.
If you look at copl presentation Art makes this point that the costs of flooding will be pretty much fixed as they turn on the turbo, so greater profits will offset costs as production goes up.

At present is will we see a capital raise to cover pending p1 abandonment costs. Also there is clearly a delay in Trinidad and I expect this is due to the former point.

That at this point we are priced at less than a third of NAV for US assets alone and there is ZERO priced in for NIGERIA. Let’s assume MMS give us say 60 percent of NAV and hold the rest back until succesful flow testing you are still looking a min a bag within a week....
Any news from Nigeria and all of a sudden we could be looking at a 250-300 mill mkt cap.
Crazy low valuation that has to be corrected

That at this point we are priced at less than a third of NAV for US assets alone and there is ZERO. Let’s assume MMS give us say 60 percent of NAV and hold the rest back until succesful flow testing you are still looking a min a bag within a week....
Any news from Nigeria and all of a sudden we could be looking at a 250-300 mill mkt cap.
Crazy low valuation that has to be corrected

Don’t forget costs for flooding will be offset by instant increase in production

Buys piling in FOMO to kick in shortly....

Dear numb nuts please keep giving away your golden tickets I have a few quid coming my way on fri for a top up

Art sums just fine placing was 13 mill net 1 mill fees = 14 mill

If we open on Monday/Tuesday around 1p how much dilution talk will there be then....?

Absolutely agree. All many can see is dilution so toys thrown out of pram.
Sure I would have like it done at 1p+ but IIs always want in before the action. The bigger picture is we are now cashed up big time with finance to close the deal plus another 20 mill available on the facility.
Can’t wait till deal closes so I am a)richer and b) not having to listen to endless drivel.
No idea what the SP will be but it will be substantially higher than now that for sure...

Can’t understand the mindset of any one selling at these prices. But each to their own.

For newbies and and numpties that panicked and sold. low estimate from COPL of market is £148 million excluding Nigeria...
Pretty simple buy hold your nerve, get loaded NEXT WEEK.

A Game Changing Acquisition for COPL: Leverage to COPL
• Net Asset Valuation: (80% P2 Reserves of $185 million (10% NPV)) at $39/bbl. WTI • $148 million
• initial debt: $41 million
• Assumed market capitalization post completion: $109 million (£75 million)
CSE: XOP LSE: COPL
• COPL will also own 100% of key infrastructure assets via Pipeco (owner of the pipelines). U.S. producers with strong infrastructure assets trade at a premium valuation (additional unrealized value of $10 million)
• Approximate Increase in Net Asset Value from 60% Increase in Oil Price
• Net Asset Valuation: (80% P2 Reserves of $308 million (10% NPV)) at c. $62/bbl. WTI
• $246 million
• Initial Debt: $41 million
• Assumed market capitalization post completion: $205 million (£146 million)
• Current Market Cap:
• Issued: £32 million
• Fully Diluted: £43 million
Note: All $ funds are expressed as United States Dollars (USD)

Sticky fingers ..

People still seem to have underestimated the significance of what appears to be a group of iis with stick fingers here willing to put some serious coin in at the start of the story - they are willing to be seed investors. Of course we will hit multiples when the deal goes through but the fact they are in no hurry to make their shares traceable should tell you all you need to know about the additional upside here longer term.
Biggest buy on the market IMHO.

For some simple minded souls the concept of holding for 4 days max for huge gains seems a difficult concept

Mms happy to take shares off any numpties selling, clear the decks them onwards and upwards next week safe in the knowledge else have IIs more than happy to back Art