Member Info for dai2belts

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Its question of do you think they will get their funding, in time
And I guess thats dependent on being able to pay it back
And that on what it costs to produce, profit
And that the minimum price of oil for Copl to keep going
And I guess the weather from the RNS...

The other bigger question, does the herd care about all that on such a big drop, offering a bounce...?

@KevR, it went sub 5p(4.6p), then hit 6p closing 5.7p, so could be bottom, traded about 10m shares in that time
https://invst.ly/-5zga

Are you tempted ?

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US Natural Gas Price. 2022 $mcf
6.64, 7.53, 6.34. 6.88, 8.37, 9.64,. 8.14, 9.76, 9.92, 7.36. 6.91
1,434 Mmcf of natural gas, at $5, just $7,170
https://www.eia.gov/dnav/ng/hist/n3035us3m.htm

1 gallon of propane = 91,452 Btu
10.93 gallons = Mbtu =$10(june '2021)
6.9M gallons. $630k

https://www.eia.gov/energyexplained/hydrocarbon-gas-liquids/prices-for-hydrocarbon-gas-liquids.php

6.9 million gallons of LPG,
Refined at the pump at least $14m,
its been +$2/g since 2017..as high as $7/g

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Copl, look whats being injected back into the ground, and the cost..
1,434 Mmcf of natural gas and 6.9 million gallons of LPG for a total net cost to the Company of about > $6.8 million.<
I thought you could sell both?

Loss on Hedging
2022 are significantly impacted by an >$8.0 million< net loss on the oil and butane hedge contracts,

Plus debt
$8.1 million of debt service and financing costs
$2.9 million repayment of its senior credit facility.

@Turbot,... Special resolution no 5, for us to waive our rights again, 275m share allocation....
Yet they just raised £10m, plus whats left of the $9m, so should there be any rush..?
Suggests, the claim of being funded for drilling early 2022, and not needing to raise was waffle..
Surely all the extra work for the discovery year came out of the $9m, so this years costs should be drilling related?

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Copl, Mmmmm, complicated history
8th Jan 2021 7:00 am RNS Atomic Acquisition Update & Additional £3m Placing
21st Jan 2021 7:00 am RNS Term Sheet for US$65m Senior Credit Facility
18th Feb 2021 7:00 am RNS Senior Credit Facility for up to US$65 million
8th Mar 2021 4:45 pm RNS Proposed Fundraising for Net Proceeds of £13m
9th Mar 2021 7:00 am RNS Completion of £14m Placing & Appointment of Broker
16th Mar 2021 7:00 am RNS Atomic Acquisition Expected to Complete Today
16th Mar 2021 10:15 am RNS Proposed Transaction and Conditional Suspension
16th Mar 2021 12:42 pm RNS Conditional Suspension and Cancellation of Listing
18th Mar 2021 12:56 pm RNS Completion of Atomic Acquisition
19th Mar 2021 7:00 am RNS Cancellation of Listing(the "Atomic Acquisition")
11th Aug 2021 3:27 pm RNS Receipt of Prospectus and Readmission to Trading
16th Aug 2021 7:00 am RNS Readmission to Trading on London Stock Exchange
17th Aug 2021 7:00 am RNS Readmission to Trading and Operations Update
1st Oct 2021 7:00 am RNS Finalisation of Share Consolidation
1st Dec 2021 7:56 am RNS Completion of USD 8,000,000 Accelerated Bookbuild
10th Jan 2022 7:00 am RNS COPL Confirms Significant Oil Discovery
6th Apr 2022 11:30 am RNS Market Clarification. (Mmm Default/Lenders waiver?)
19th Apr 2022 7:00 am RNS Acquisition, Bridge Loan & Equity Placing
19th Apr 2022 1:18 pm RNS COPL Completes $13m Accelerated Bookbuild
6th Jun 2022 7:00 am RNS Court Approves Purchase of Cuda Wyoming Assets
22nd Jul 2022 12:21 pm RNS COPL Signs Financing to Close Cuda Acquisition
5th Aug 2022 7:00 am RNS Resource Report Confirms Wyoming Oil Discovery
8th Aug 2022 7:00 am RNS Conversion of Bonds and Share Issue
12th Aug 2022 7:00 am RNS Conversion of Bonds
25th Aug 2022 7:00 am RNS Conversion of Bonds
12th Sep 2022 7:00 am RNS Significant Increases in Reserves and Values
22nd Sep 2022 7:00 am RNS Conversion of Bonds
26th Oct 2022 7:00 am RNS Conversion of Bonds
21st Dec 2022 7:00 am RNS Costless Hedge Restructuring and Corporate Update
6th Jan 2023 7:00 am RNS Conversion of Bonds
23rd Jan 2023 7:00 am RNS COPL Announces Frontier 1 Oil at Cole Creek
1st Feb 2023 2:25 pm RNS Prospectus Approval & Admission to Trading
1st Feb 2023 2:24 pm RNS COPL Prospectus Filing & Trading Update
1st Feb 2023, Proactive media, Covenant warning, insufficient working for requirements to continue trading past /March 2023...
https://www.proactiveinvestors.co.uk/companies/news/1004971/canadian-overseas-petroleum-tumbles-on-covenant-warning-1004971.html

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Copl, Mmmmm, complicated history
8th Jan 2021 7:00 am RNS Atomic Acquisition Update & Additional £3m Placing
21st Jan 2021 7:00 am RNS Term Sheet for US$65m Senior Credit Facility
18th Feb 2021 7:00 am RNS Senior Credit Facility for up to US$65 million
8th Mar 2021 4:45 pm RNS Proposed Fundraising for Net Proceeds of £13m
9th Mar 2021 7:00 am RNS Completion of £14m Placing & Appointment of Broker
16th Mar 2021 7:00 am RNS Atomic Acquisition Expected to Complete Today
16th Mar 2021 10:15 am RNS Proposed Transaction and Conditional Suspension
16th Mar 2021 12:42 pm RNS Conditional Suspension and Cancellation of Listing
18th Mar 2021 12:56 pm RNS Completion of Atomic Acquisition
19th Mar 2021 7:00 am RNS Cancellation of Listing(the "Atomic Acquisition")
11th Aug 2021 3:27 pm RNS Receipt of Prospectus and Readmission to Trading
16th Aug 2021 7:00 am RNS Readmission to Trading on London Stock Exchange
17th Aug 2021 7:00 am RNS Readmission to Trading and Operations Update
1st Oct 2021 7:00 am RNS Finalisation of Share Consolidation
1st Dec 2021 7:56 am RNS Completion of USD 8,000,000 Accelerated Bookbuild
10th Jan 2022 7:00 am RNS COPL Confirms Significant Oil Discovery
6th Apr 2022 11:30 am RNS Market Clarification. (Mmm Default/Lenders waiver?)
19th Apr 2022 7:00 am RNS Acquisition, Bridge Loan & Equity Placing
19th Apr 2022 1:18 pm RNS COPL Completes $13m Accelerated Bookbuild
6th Jun 2022 7:00 am RNS Court Approves Purchase of Cuda Wyoming Assets
22nd Jul 2022 12:21 pm RNS COPL Signs Financing to Close Cuda Acquisition
5th Aug 2022 7:00 am RNS Resource Report Confirms Wyoming Oil Discovery
8th Aug 2022 7:00 am RNS Conversion of Bonds and Share Issue
12th Aug 2022 7:00 am RNS Conversion of Bonds
25th Aug 2022 7:00 am RNS Conversion of Bonds
12th Sep 2022 7:00 am RNS Significant Increases in Reserves and Values
22nd Sep 2022 7:00 am RNS Conversion of Bonds
26th Oct 2022 7:00 am RNS Conversion of Bonds
21st Dec 2022 7:00 am RNS Costless Hedge Restructuring and Corporate Update
6th Jan 2023 7:00 am RNS Conversion of Bonds
23rd Jan 2023 7:00 am RNS COPL Announces Frontier 1 Oil at Cole Creek
1st Feb 2023 2:25 pm RNS Prospectus Approval & Admission to Trading
1st Feb 2023 2:24 pm RNS COPL Prospectus Filing & Trading Update

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I could'nt see anything on BB that was a good account of what was happening.
But fall makes me think I have it totally wrong...??

Graph
https://invst.ly/-5xo7

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Closed 5.6/6p bid/ask shown by my broker, bounced quick off 4.6 low, so I guess 4.9 would have been best buy..

Nasty start to 2023, not good..
AIM seems to be don't trust any CEO...

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I dont know either, dont understand enough..
before the RNS those new shares, if being sold to market would have covered the debt, not sure now ?

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Shorters Institute..just went sub 5p

"Currently the Canadian market is protecting its shareholders, all trades have been cancelled and reversed out, anyone that lost e.g. from a low ball stop loss will have been reimbursed.

The market will seek clarification from the company. I guess that if the company confirm that the market has overreacted and that much of what was placed in the RNS was required for regulatory measures and that indeed the initial drop was caused by one large seller that spooked the market, then I guess for Canada its no issue, for here, we should bounce back hard but we have yet to see."

https://www.lse.co.uk/ShareChat.asp?ShareTicker=COPL&share=Canadian-Over&thread=DB86EE4A-ADBC-465E-BB31-75B6137FD75B

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Tom W, claiming he warned against COPL..
Is he jumping on the band wagon?

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Trading halt Vancouver

https://www.marketscreener.com/quote/stock/CANADIAN-OVERSEAS-PETROLE-46923061/news/IIROC-Trading-Halt-XOP-42869694/

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Any thoughts on COPL, at 1st glance seems to me they are simply raising money from the market, instead of a placing ??

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I would like to see DM back on Crux, but I cant see it happening....

I see Vast had a really strong rise building to that RNS, fingers crossed you get the same for Est..

COPL, prospectus, maybe panic..see no dilution, just increase in free float, cant see any discounted price, so guess selling shares on the market to pay debt ???
But thats a new one on me, but why not........

Need to read prospectus..

New Shares admission 113,589,348 common shares of no par value in the capital of the Company (the "New Shares") that have been issued since December 2021., so no increase, still same amount

The Company has a total of 277,858,812 common shares issued and outstanding including the New Shares. There are no Common Shares held in treasury and therefore the total number of voting rights in the Company is 277,858,812.

The Company's financial results for calendar year 2022 are significantly impacted by an $8.0 million net loss on the oil and butane hedge contracts, $8.1 million of debt service and financing costs and a $2.9 million repayment of its senior credit facility.

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Tom WinniFrith

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Fingers crossed on KOD,
AEX, MMmmm, After He1, reluctant to jump in early, I guess we need to check everything else is lined up..
Just waiting for TW to target He1, he has QFI & Gcat(i think), and the past Syme, thats 3 of mine so far....

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Est, news Q1, speculating on the speculators, +20%, today..on top of previous gains.
Oddly Tro, posted an interview yesterday on a falling gold stock, I think he has a following,..
Not the 1st time, to see a rise on a Tro tip either :)

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TM1, dropped, almost new low, no news
Orr, should have sold all, instead of bottom drawing 1/2, almost back to what I paid..So selling would have allowed me to buy almost double....oh well,still the dumb money

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@Tro, Est is turning out nice for you :)

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Has a large spread too, so sometimes the price movement is changing the spread, but its tending towards the bid..
If the Trails just a carrot on a stick then I have been caught again...
They seem to have a full brochure for the year. and Morocco is a mystery customer??