Member Info for BigBear2

If Art is going alone this will be a very long journey.
My hope is that the delay we are seeing here is how much working interest the large oil company want for some coin.
Anything less than at least covering the cost of the gas pipeline as a cash carrot will be a poor outcome from any JV.

The best scenario would be a takeover at multiples of this crazy mkt cap.
My gut tells me Art would not entertain this as he wants one last hurrah to prove up this monster find.
Let’s prey he is not trying to play hardball over the working interest and gets us a good wedge of cash to transform the balance sheet.

Let’s just hope Art is not trying to play a hand he does not have in JV discussions.
A deal that left us with a carry on first few wells done meaningful cash and minority ownership in deeps would be a result from here.
Something like 20 percent wi retained would be acceptable imho if it sorts at least some of are financial woes

Bladder let’s hope for once Art restores some value for long suffering holders in a definitive RNS regarding JV.

I think the simple answer here is we are seeing the interest shares sold into the mkt. Bondholders can sell these at parity at the end of the day they want their interest payment and it’s better as equity than cash as COPL are strapped.
Let’s hope Art gives us something meaningful next week on JV
Any deceht cash component could see going concern status flip and sentiment change overnight

As ever someone allowed to load up on cheap….

Sp crashed ‘by accident’ so our bondholder chums can get done super cheap stock as interest payments?
Thru could have demanded cash but accepted equity?
Hopefully now their palms are greaser we can get done good news

Yup why would a Bondholder convert to equity a substantial premium to current sp unless they were confident

Bladder I hope you are correct mate.

In takeover scenario there should be no need for suspension
1. Price announced whilst lawyers sort out sh*t
2. Mms raise the sp to something like 10-20 percent below the price so impatient can be weeded out
3 deal completes and cash given on settlement date

Something similar happened on SXX few yrs back, no suspension

It’s sad it’s come to this tbh as this should have been a success story that played out over yrs with handsome returns.
Could it be Art simply can’t be ****d with it as a long term play and wants the whole shebang sold?
Is it beyond the realms of possibility that the sp crash makes an offer that is dirt cheap to our suitor yet now offers multiples of this sp suddenly becomes palatable?
Then our hedge fund chums pocket a tidy sum and Art banks decent cash.

Let’s be honest a primary school kid could face worded the last Rns better let’s hope the lazy clumping of news stops

I can only hope that the Bondholders are giving Art hell for that train wreck of an RNS.
Lazy RNSs that would be fine if we were a mid cap churning out 20k bopd but we are not.
It really is not hard just look at the way 88e deliver their comms drip feeding the market upbeat news(despite having no oil!)

Yup all looks great now if the mms would oblige by placing a 4 in front of the current sp all will be well in the world

Copl going down Oilexco route?
Yes in terms of potential 1000% gains as production goes up in multiples

Biggest thing to come out of this is corporate governance is non existent at Copl.
Let’s hope we get a jv with a Ned with balls and additional board member.

That’s what I was about to say. The hedge fund in particular are in balls deep at a substantial higher so than this, one would hope for once there is some accountability for supporting the sp of the company. Surely the time has now come for art to have a PR guru, how many crazy RNS can we absorb where get multiple news items clumped together.
I re-iterate a single RNS to confirm that JV talks progressing and announcement on AGREEMENT due in near term would have seen this back in the 20s

Asset fantastic we just need the JV partner to take the lead nod fund most of first few wells.
A cash injection at least to cover the plumbing upgrade is required to restore confidence and also going concern status.
Be great also to have some PROPER corporate governance as well.

Agree this is quite feasible Tilburn but to leave us this skinny on cash is insane.
Cannot for the life of me understand why he would not chuck another couple of mill on to tap drawdown as contingency.
Let’s prey our JV partner is not playing mind games to eek out better terms with the delay.

Need to clear traders who bought the crazy drop