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Another one of COPL's board named in dodgy dealings elsewhere. What chance did we really have with such highly esteemed board members, the art of ripping off shareholders is second nature to these guys. Trying to rush through this stalking donkey as quickly as possible with very little publicity, missing key asset information, arranging a further £2.5m in bonds knowing full well that this process was going to be executed, just hope the courts see through these shysters
Apologies if this has already been covered, but will prospective bidders have access to all the information regarding the 7 recompletion wells in the frontier 1 at Cole Creek? I think we got good news regarding the first recompletion, not sure if any further information on the other 6 were issued by the company.
Just to add to your great title Sharebel
How To Steal An Oil Field (The Myth, The Plan, The Steal)
The Cast:
Arthur Daley as The Chair Man
Ryan Reynolds as The Highschool Calculator
Tom Hanks as Shorter Boy
Arthur David as The Negotiator
Great letter Stas20, not sure if the following was ever looked into or is relevant to your letter, but someone on this share chat highlighted that during the last flaring meeting, COPL mentioned production being up to 1700 bpd yet they still show a monthly rate of around 1000 bpd over recent months via the Wyoming Commission
The HIBU story if anyone is interested:
https://uk.linkedin.com/in/hibu-shareholders-group-a94b35a5
It appears to be a common theme across numerous companies with these crooks . All connected and they've become so accustomed to destroying companies at the shareholders expense, then moving onto the next one with plenty swag bags in hand for job well done.
Perhaps the SHG could employ the services of The Beekeeper...
https://www.myvue.com/cinema/edinburgh-ocean-terminal/film/the-beekeeper
Https://www.coroenergyplc.com/board-and-management-team
Same photo used for all his exploits
Stas20, some snippets from that Politico article:
Structuring an investment deal to dole out money in multiple portions is a
“classic tactic used by loan-to-own lenders”
Ford asked about the paperwork for the interest deferral. According to Ford, as recounted in the investor call, what Adler proposed instead shocked him: Adler told him not to make an interest payment.
“We’re going to wipe out the public shareholders and the junior guys”
Ford further recounted Adler saying: Adler told Ford that he would make more money if he went along with the plan.
When the company missed the March payment, Gotham Green took steps to seize control of the company proposing a restructuring agreement. Investors were pressured to vote in favor of a proposed deal that would give them a mere 2.75 percent of the company, wiping out hundreds of millions of dollars, according to iAnthus investor Andro George.
“And if you vote ‘no,’ you get zero” “That’s what the lenders argued”
“They basically brought us out into the middle of the ocean and then drowned us”
You could replace the names and you'd have a very similar scenario happening at COPL.
As llodoy1066 has mentioned, it might be worth getting in touch with Dan Mc Crum, Finanacial Times journalist.
Dan.mccrum@ft.com
https://www.finextra.com/the-long-read/547/netflixs-skandal-bringing-down-wirecard-and-the-fintech-that-deceived-us-all#:~:text=Bringing%20Down%20Wirecard%2C%20which%20follows,evidence%20of%20Wirecard%27s%20fraudulent%20activities.
Interesting find SPC32, and Cloudtag is mentioned several times in reference to global data exchange
Got the same message from HL. Big thanks to all those who provided info and kept the board going over the years.
Looks like it could be an interesting time for CGO with more news on contracts etc over the coming months.
GLAH
Thanks for the update Crystal.
Neville registrars confirmed that communications regarding this action have been sent out to all holders/brokers, including HL, who should be contacted for any update regarding the transfer of shares to CGO.
I contacted HL 2 weeks ago, no reply yet.
Looking good for the future, hopefully suffering holders will be rewarded soon