Member Info for Daceon

Holding. Can't see it dropping much more from here. Its moving from being a bargain to being a sinking ship. No point selling down here unless you got in at 0.04 and have had enough.

I do think that the fundamentals are good here and once the warrants and shares have changed hands the price will begin to reflect the company rather than the profit taking of those involved in placements.

In in no hurry - 3-12 months should see things improve dramatically. All things being equal I would expect this to be a 200m+ company by then. In the meantime I'm going to weak myself of checking the price and forums constantly. All the best everyone.

Hi Ironside
Forgive me if I'm wrong but here is how I read the HSBC rns'

3/3 741M
20/8 823M
23/8 772M
9/9 779M

Therefore it would seem to me they have bounced around the 5% mark with a slight Increase from 23/8 to 9/9?

All of the evidence points to the company building on the successes it has already achieved.

These price fluctuations are the market playing out the consequences of the massive placements and big sellers.

Whether the price is 1p or .3p the company is unchanged. At some point the business and the value will start to align for long term investors.

A 7% swing from midday. Lets hope we keep that action up tomorrow :-)

Well of course this could be another traders dream bounce where they can see out for 10% and watch it drop back down to .32 Or maybe this is it and the train is leaving the station? It has to happen one day and a couple of big American buyers will do it.

This BB is great for getting info and chatting. The company is in a good place with production growing, cash in the bank and new oil discovery.

It's time to hold or get trading.

I don't have the time. skill or know how to be a trader. I'm just going to sit this out. It's only a loss if we sell and patience will see the true value come through eventually.

Ask yourself why some posters are spending so much time talking about a share they hate with an intricate knowledge of trading data.

Hoping everyone has a good week this week :-)

Hopefully a TR-1 will let us know Bob :-)

Good to see the price rise. What a ride this has been so far! The fundamentals will work their way through especially as we approach the juicy Q3 results.

Just putting this out there...
Is it possible that the churn is nearly done and we might have an afternoon of positions being taken before we pop on Q2 and some exciting forecasts?

Regardless of what the price is today, the fundamentals of the company arebn't being questioned at all here. So what we are seeing is people taking short term profits or losses or looking cheaper positions. All of that is sensitive to the price today.

The fundamentals will drive the long term price and not a thing has changed since relisting except the production is rising quicker than expected.

A few days ago someone was here spouting about SYME. They still haven't done a proper deal. 88E have flown on sentiment and hope.

We are part owners of a company that has gone from having nothing but a hard won agreement with Essar to actually owning land, infrastructure and shipping real, actual, revenue generating oil. In the coming months we will hopefully see those production figures growing and the profits thriving.

IMHO the current pricing is an anomaly due to a glut of warrants and share giving and profit taking.

Just about to enjoy the Bank Holiday but was tying up some work and thought I would post before getting on with the day.

I'm grateful for all of the knowledgeable posters who have posted here over the last year. I feel like I know COPL better than my own business lol. I just wanted to share some thoughts on my decision to hold going forward from here. I though it might be reassuring for anyone who bought in and is now thinking what have I done?!?!

The anti-oil meta
I Think COP26 will reaffirm the international commitments to major changes by 2030 however the reality of oil use being 90% outside of ddomestic personal traffic and the infrastructure changes required to provide enough electricity to power recharging stations (which don't exist yet either) will probably be the things most addressed at the conference. Without major policy changes I don't believe it is possible that there will be all electric personal travel within 15 years.

Even then oil production will still be necessary for freight, plastics etc. What may happen is that govts will cut back on imported oil first and keep core indegienous production as a priority. That works for us. I would imagine the oil lobby in the US is quite powerful. So I don't see the oil tap being switch to off on 31st Dec 2029.

Regarding our current situation
The 100% profit lenders got out. They were possibly told their money would be tied up weeks rather than months. I get why they cleared the decks. Lots of PIs who got in at <. 3 taking profits. The market is slow and careful at the moment. No 300% risers at the minute. August is a slow month.

This week: q2 results and a possible update. Will the price get to 1p as many hope? I suspect it could be fairly flat without an exciting progress report.

October(?) Q3 results. Now this starts to hot up a bit. The production figures will be spicier and I expect that with the company settled, the new website up and figures looking healthy the chance of the rerate coming gets better. Might we have new spudding by this point?

Q4 Jan 2020
Solid increases in production and profit will mean the uncertainly of this year is behind us and we can get on with enjoying that upward curve of production.

None of this takes into account a buyout of CUDA or Nigeria kicking in.

I believe that in 6 months the rewards will be handsome. The market isn't looking ahead with us at the minute. That could happen at any point. I'm no expert DYOR of course.

What a week and a half it has been. Hard to watch and yet I feel quite calm. The fundamentals here still look very strong indeed. Once the overhang of all these sellers and extra shares and warrants clears I am hoping that Art will start with the good news and get us to that 170m mark.

It's hard to know how the q2 results will effect things. I imagine it will depend on whether Art chucks in a Q3 forecast and a current position RNS? Nigeria would be good too. Also CUDA bought out would be the icing on the cake.

Yes thanks Tiburn.

All of the warrants and dilution are part of the birth pains here. After that management has a responsibility (not just a moral one to us but a legal one to the lender) to act and spend wisely in the best interests of the company.

We can deduce that the recent spending on new equipment must make a great deal of sense. Are we going to see big movements ahead in oil production sooner than we though?

Obviously recent market conditions have been a real disappointment. I'm happy to hold for another 12 months to see a substantial reward.

A deeply disappointing week but nothing has changed apart from the production doing better than we expected.

This is a very unusual situation - a reverse take over basically funded by mates, wonga lenders (love that phrase) and last minute raises and loans.

I guess we were naïve to think that this was going to come back blazing and not realising that frustrated big investors were going to clear the decks for a very nice profit while taking advantage of a whole heck of warrants too.

I guess if we give it a week or two things should even out and the price start to increase. I'm sure Arthur will release some good news on the way too.

Someone made a good point a while ago being suspended for the last 6 months was no bad thing and thats probably true unless you are an ace stock picker - my other share picks (which have had very good last 18 months) are down 30-40% from March highs.

So... Perhaps the best thing to do is think this will start to get an even keel in September just when the markets are back in full flow after a slow summer. And yep no house in Spain for my family.... yet.

I understand that the market decides the value of a company but it seems criminal that someone can have the fear of God put into them and then sell at a loss after having the stress of holding these for 6 months and at times probably wondering if they would ever come back. There is so much manipulation and trading savvy being used here but it is the private investors who seem to be the minnows in the shark infested waters.

I'm starting to believe that I should take a complete break from watching this and just come back the week of q2 results. Easier said than done though lol

I can easily imagine that that drop to .37 could have hit a lot of stop losses protecting their pre-suspension profits.

Perhaps the days of the 100-300% risers is over. Or maybe they will come back. Mr Market will do whatever he wants and none of us can guess what that will be.

We have been hammered by equity raisings and by profit taking iis. We held for 6 months and got nothing for it. Man that hurts.

Even so, if we can reasonably expect 10% return over the coming year that is not a terrible result. 30% a year for 3 or 4 years looks better. 100% within 12 months on then another 25% a year for the next 4-5 years? It's looking better by the minute!

Mr Market has kicked us in the head for the moment. Time to get up again, take a new look at the lay of the land and ask.. What's the chance hes going to be our best friend by Christmas? Fairly high I think.

Yeah honestly I though Art looked a bit subdued and tired in today's interview. He will have been taking phone calls from the bigger investors over the last 6 months I would imagine - those investors who put up a lot of cash expecting it to come free quickly for a 100% flip. Today we relist and the big sellers hammer the price into the ground - it's got to hurt when they have actually achieved a great deal. The price will reflect that soon enough. I'm really happy being a part of that.

CawCaw - It's good to read your posts again. Quite a day today but still we are back trading and there will come a point when the sellers shares have transferred to holders. Hopefully we will start to see some good rises on both exchanges!

Yes here until I hit my target. No more funds to add but fully expect to see 1p+ by Q2 update. As do those massive buyers