Member Info for Daceon

I respects everyone's opinion here but investing is going with your own gut.

On reading the placement RNS is swore, I shouted, I stomped.

But no amount of being angry will change anything.

Will I still make money? Yes. Short and long term.

Easy.

But SYME are back if anyone is interested.

On a slight side note when I started following COPL I had posted 20 times all together and lost a good deal more money on chasing rainbows in my first year of investing that any sensible person would. Now I am watching profits grow, following the COPL chart live and enjoying every minute. I've learned a lot through this process and am very glad to have journeyed this last 6 months with you folks.

CawCaw is a good guy, just hacked off with what he sees as just another dilution at the expense of shareholders.
Personally, I was concerned that the massive jump in oil price could lead to this deal failing completely. Not going to happen now so happy.
Better 2-3 bags than 30% drop any day.

It's been a very intense few weeks and that placement well lol Not the great RNS I was hoping for.
But we are nearly there and all the boxes are ticked. Time to get on with work a let the rest of this week play out.
Maybe there will be one or two surprises on the way. I reckon that the quite reasonable 0.32 that the placees paid shows that COPL have shown a strong case for this being well up from that in a years time. Would i rather be sitting at 1p ish waiting for more news about ramping production or sitting watching 0.2 nervously while it looked more and more apparent that Nigeria was dragging on. An easy choice. Going to get on with life lol GLA!

Look we all know that this is small cap. Micro nano cap! Yet Art has taken this from 12m to 50m in 3 months. In 6 days it will be 200m. We might not love every way in which he has done that but its quite an achievement. And anyone who can stay invested for a week (or maybe even a whole year!) will be rewarded

Yep Jay so much could be going on in the background. All we know is that next week this becomes a 200m company ramping up to the high heavens with 10m in the bank. That will do me.

Yep profit is profit and this deal is still teansformational. Yep dilution sucks. Even so, if it was necessary for the the finance guys to release and the suppliers to agree and the seller to complete, then I would much rather have a future for the company than this fall through. Having cash in the bank is much better than having to beg the finance company anyway. Expect to see the 20m be used for % increase in the near future.

Yes I think that it is highly unlikely that this is a buy everyone a Bentley raise. I'm going to trust that Art knows what he is doing.

Guys if Art has been like a deal making Rottweiler here and closed the NOP or CNOOC we are minted.

below would explain timing.

Atomic owns 57.7% of one field and 66.7% of the other. That's 100% of what Atomic own. That's the 250m that I am now 100% sure is closing on Monday;.
The question mark has been over whether we are going to buy out the other operators.
It's possible that this placement, along with the 20m left in the flexible financing may be to do just that.
Or that, based on the recovery of the oil price, some re-negotiation has occurred.
Either way it's going to be interesting!

You know what Shaa I'm with you. Being honest a deal that was too good to be true and then got just ridiculous is going to dilute by another 1/3 and then 4-5 bag. I can live with it :-) Placings suck. Of course finding out that this is for 100% purchase would put a huge smile on my face :-)

Notice the absolute statement that this is closing...
"Atomic is currently a closely-held private oil and gas company incorporated under the laws of the State of Colorado. COPL
** will **
acquire 100% of the shares of Atomic on closing of the acquisition on March 15, 2021."

A good day. Farewell until 6.45am :-)

I think the problem with taking profit this week is when will you get back in if you want to hit the main rise. It's got to be worth holding a whole week :-)

38/38 on HL. Thunder-rigs are go!

It's a highly unusual situation here I think. Every bit of buzz is sold into by one a big seller. Having nearly doubled the amount of shares in circulation 10 weeks ago with places owning half the company makes this a very unusual situation. Until that signature is on paper I expect every rise will be sold into. Also the company isn't pumping the price as it would be very bad form to do that to the seller at this stage I reckon. I would not be surprised if its someone Art had previous dealings with. None of this affects the investment case for me.

Yes, all the best everyone!

Lost the bottom part of that message:
DOES COPL HAVE ANY OTHER POSSIBLE REVENUE STREAMS?
The Atomic deal came as a huge and very welcome surprise to the shareholders. The main reason that we had been holding was for the expectation that COPL’s interest in OLP226, a large offshore asset in Nigeria, being developed.
1 - PSR is assumed - no evidence to state it will not be agreed. It has been delayed several times however most shareholders would agree that it is likely to still occur.
2 - Oil is found already, next to a producing prolific field - drill planned is appraisal not exploration
3 - Essar want a rapid ROI to date on $70m exploration spend - can spend a lot, drilling costs very low and would want to capitalise on that asap - COPL are carried
4 - Nigeria have much to gain from their oil assets getting to production.
With 60k bopd assumed production
COPL share at 15% (5% with option to increase)
Oil at $40/b
tax 70%
lifting costs $20/b

This equals $19.4m net profit p.a
mc $331m
Note: Oil is currently approx. $64 per barrel.