Member Info for cn100

Arthur has already said he is working towards a mid tier mcap company for copl around £500 million

http://www.lse.co.uk/media/exclusive-copl-to-announce-a-service-provider-agreement-within-a-month.html Service provider ageeement for $100m to be announced within the month.

Huge month coming this month. Exciting times!!

Copl to arrange a £4 million bond for working capital...

June 19th.

Big sell 21m shares. £106k

It was one in Canada.

Canadian Overseas Petroleum can take heart from oil price rally Share 12:32 26 Apr 2018 If the appraisal well is successful it could potentially be brought online as part of an early production scheme oil barrels INVESTMENT OVERVIEW: COPL THE BIG PICTURE Oil price is back near US$70 Canadian Overseas Petroleum Limited (LON:COPL CVE:XOP) is awaiting an upcoming appraisal of an oil discovery, the Noa prospect, at its OPL 226 project area, located 50 kilometres offshore Nigeria in the central part of the Niger Delta. While the project has been taking longer than originally anticipated, mainly due to a lack of adequate financing, chief executive Arthur Millholland has said the company’s “preparedness, enthusiasm and persistence have not diminished one little bit." READ: COPL looks forward to appraisal activity in Nigeria An independent report, in March 2016, estimated that Noa had 237.1mln barrels of recoverable, contingent oil resources. With oil prices currently floating around a 3-year high, the lure of the huge resources could draw in investors and partner companies that could kick the project into high gear. If the appraisal well is successful it could potentially be brought online as part of an early production scheme, along with three further wells that would precede a full development of the field. The project is controlled by Essar Exploration and Production Limited (Nigeria), a company in which ShoreCan, a joint venture between COPL and Shoreline Energy International Limited, holds an 80% stake. The ShoreCan venture, officially known as Shoreline Canadian Overseas Petroleum Limited, was established by the two companies as part of a strategy to generate stable cash flow from secure offshore and onshore assets in the sub-Saharan Africa region, well known for its natural resource opportunities. Shoreline Energy is a Lagos-based energy and infrastructure company and is one of Nigeria’s largest conglomerates with a portfolio comprising 16 operating companies and over 3,000 employees, covering sectors from energy and infrastructure to telecoms and investments. Domestic support Given the participation of a Nigerian company in the project, Millholland says the project continues to enjoy considerable domestic support. With Nigeria occasionally proving to be a difficult jurisdiction for oil explorers, having indigenous expertise will likely prove advantageous for COPL. Promising award in Mozambique In December 2017, the group expanded its reach in Africa after ShoreCan, as part of a bidding consortium, was awarded the Block PT5-B asset by the government of Mozambique. ShoreCan holds a 57% interest in the consortium, alongside Bluegreen Holdings Ltd with a 23% holding, Mozambique-based investment firm Indico Dourado with 10%, and the Mozambique state-owned Empresa Nacional de Hidrocarbonetos, also with 10% The asset spans some 4,356 square kilometres of the country

meeting today.

Looks dead now.

A UK oil and gas pioneer has said that the exploitation of so-called small pools could herald a “North Sea phase twoâ€￾. Algy Cluff, who was involved in the discovery of the Buchan field 40 years ago, said there is “increased positivityâ€￾ in the region and affirmed to investors of Cluff Natural Resources (CNR) that the firm’s “destiny is directly linked to the North Seaâ€￾. Mr Cluff spelled out four reasons why the UKCS remains an attractive option for investment yesterday. CNR, which currently makes no revenue, also revealed that the firm’s losses have narrowed while its cash position has improved in 2016. Shares in CNR soared almost 16% higher as it set out some of the promising developments nearby the company’s area of focus on gas assets in the South North Sea. Mr Cluff said that while the market for oil and gas companies “remains challengingâ€￾, he said that there has been “a significant improvement in sentiment, both within and towards the industryâ€￾. Setting out his rationale for investing exclusively in the basin, he argued that while many major oil companies believe it “no longer offers the prospect of major discoveriesâ€￾, they “may well be in errorâ€￾. He added: “It is widely agreed that there remain many licences which contain high quality exploration targets. HMG (Her Majesty’s Government) has the power to render those targets even more attractive by fiscal incentive.â€￾ His second and third points were that the North is “well runâ€￾ and “secureâ€￾. His fourth reason was the estimated 3billion barrels of oil in small pools the Oil and Gas Authority (OGA) has identified, some of which Mr Cluff expects will be available to oil and gas firms in the upcoming 30th licensing round. Mr Cluff said: “It is my view that this could herald a ‘North Sea phase two’ with the OGA estimating that as much as 3.4 billion barrels of oil equivalent is distributed amongst these pools.â€￾ Last year CNR raised £2.5million from investors. Earlier this week the AIM-listed company said a report estimated the value of one of its gas licences in the South North Sea could be worth up to £700million and that it had more than 20 potential investors interested farming in to the fields. He added: “This study has confirmed our long-held conviction that exploring for gas in the Southern North Sea can deliver significant value for shareholders and the UK as a whole. “Should expl

North Sea pioneer Algy Cluff said yesterday that his company was busy trying to attract partners for one of its most promising southern North Sea licences. The entrepreneur, who was involved in the discovery of the Buchan field in the 1970s, also said Cluff Natural Resources (CNR) was keen to add to its asset portfolio in the upcoming 30th licensing round. Mr Cluff said CNR opened its doors to companies interested in examining data for its 100%-owned P2248 licence in March. Since then, 23 companies have visited the data room at London-listed CNR. Mr Cluff, the firm’s founder, chief executive and chairman, said only one of the 23 companies had told CNR they would not be following up on their interest, so far. He said CNR hoped to have a farm-out investor in place by June to help fund the drilling of P2248. He was speaking after CNR revealed the licence could be worth almost £700million. CNR hired independent oil and gas consultant Xodus Group to review development options and gauge the economic viability of two of the six prospects on P2248. Xodus’s scoping study found that the economics were “robust” for a range of development options on the Cadence-Scremerston Prospect and the Bassett Bunter Sandstone. Xodus’s analysis, which was based on studies of analogous fields, indicated Cadence’s expected monetary value following a gas discovery would be about £87million, compared to £69million for Basset. It said the “implied extrapolated un-risked” net present value for all six prospects was £697million. An earlier study of CNR’s southern North Sea prospects by Xodus added billions of cubic feet of gas to the firm’s reserve estimates. CNR’s shares were up by more than 14% in early trading yesterday. They then settled down, finishing the day up 7.55% to 2.85p. Mr Cluff said: “This study has confirmed our long-held conviction that exploring for gas in the southern North Sea can deliver significant value for shareholders and the UK as a whole. “Should exploration wells prove commercial quantities of gas in line with expectations, then the scoping study economics demonstrate that cost effective development options are readily available, a key consideration for any operator or investor looking at the company’s exploration assets.” Mr Cluff also said CNR would be in the market for new licences in the 30th licensing round. The Oil and Gas Authority said last month that the 30th round was likely to be announced towards the end of the current quarter. Mr Cluff said he expected a number of so-called small pools to be up for grabs. There are about 350 unsanctioned marginal fields containing more than 3billion barrels of oil on the UK continental shelf. Mr Cluff said the small pools on offer represented a “very interesting opportunity” for CNR

They could have issued another 400m shares resulting in a huge dilution for shareholders and then realised they needed more money months down the line. This way they have no debt 200k cash and an asset worth 12m that produces income. With only 190m shares in issue.

Left with an 10 percent of the asset valued at 11.7m to zincox (£7m) 3.7p per share

The Times Rumour of the Day: Officially, it’s not a done deal, but a 51% jump in Albemarle & Bond shares is a decent sign that a rescue of the stricken pawnbroker is in the offing. Fortress, the investment firm, is reported to be in talks with Albemarle’s banks, Barclays and Lloyds, although the company remained tight-lipped. The shares closed up 3½p at 10½p.

http://www.express.co.uk/finance/city/439474/RBS-profits-hit-by-70-per-cent Elsewhere, listed pawnbroker Albemarle Bond looks set to receive a lifeline from Barclays. It is understood that the bank is willing to give it new, relaxed debt terms and allow its management team time to come up with and implement a rescue strategy. Earlier this month Albemarle saw its £35 million fundraising collapse, leaving it perilously close to breaching its £51 million overdraft.

15/Nov ALBEMARLE & BOND HOLDINGS PLC AGM AGM on 15th November 2013. http://www.reuters.com/article/2013/10/21/diary-uk-irl-equities-idUSL6N0I81T020131021

Albemarle and Bond have a new advertisement for a job. Surely they wouldn't be recruiting if they were going under? hxxp://www.reed.co.uk/jobs/branch-assistant-slough-full-time-permanent/23789813 Also more new jobs for A&B They seem to be recruiting assistant branch managers over a few stores. hxxp://www.jobisjob.co.uk/albemarle/jobs

broker target 35p - £150million mcap. no wonder someone bought 3 million of these today.

broker target 35p - £150 mcap. no wonder someone bought 3 million of these today.