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I agree to a certain extent wongtogo but the Atomic deal was a great deal, there's no doubt about it - he picked it up for a song and given time it should reap rewards. The process which taints the deal is the source of funds, he's not acting in the best interests of shareholders by gathering funds from institutions who are only in it for a quick buck. He needs to act more professional in all aspects on the company and reach out to proper investment companies who are investing for the long term. It may well be short term pain for long term gain but his actions are not one of a leader - if he was transparent with his shareholders and built up a relationship of trust then it would go a long way but treating us like mushrooms is not great.
However, deals like these are opportunistic deals and I understand the need to acquire Cuda at this time, in business, you need to strike when the iron is hot. Before the Atomic deal COPL were exploration, we're now producers with an asset value far exceeding our current mcap. We just need to steady the ship, get the production profitable, gain trust and build. There's an opportunity for ART to build a legacy here, I hope he can do so and silence the doubters. GLA
100% agree. In business, it's the small steps which make a difference. The new website is a small indicator of a business going in the right direction with a clear strategy to succeed. I hope its a green light to build from here and I wouldn't be invested if I never felt this has the potential to grow exponentially. We need some solid news now, get the production up to target, acquire Cuda for a rock bottom price and grow. If he wants to be taken seriously as a company, actions need to speak louder than words - COPL is an LSE share. not AIM - so lets start acting like one. Difficult time to be a shareholder but I have a feeling good news is round the corner! GLA
Happy to sit and wait here but down a lot. Trying to take a step back and look at the bigger picture and everything fits, however, the one area I question is the placing price - there was no reason to place at such a large discount, the only reason to do so is to line the pockets of Arts cronies. Most of us here are locked in now but it’s a major red flag and one which angers me. Anyone that thinks it will affect the Cuda price is kidding themselves on. Only people it affects are the shareholders. One of the most frustrating shares I’ve ever been in - bar none! GLA
Keep up the informative post guys. To all genuine holders it’s important we keep a perspective on our current situation and not get involved in the day to day movements. It’s getting silly now, that’s not to say it can’t get even sillier! It will turn. Keep the eye on the prize! Thanks guys!
Best not to engage with them. The board is toxic, I’d advise any genuine lth to avoid. What honest hard working individual spends every second of the day on a chat board?? Parasites isn’t too strong a word. Good news will be around the corner. GLA
What I find difficult to understand is the delay in sell off. All was good up until afternoon and then someone decided to put the lights out. If it was such a bad RNS it would have opened up down. Feels as though it’s been driven down by factors bigger than us mere mortals. Given up trying to work out these things, to drop 30% on that RNS to a m cap of £35M is just crazy on fundamentals alone, from a uncertainty point of view it’s unsurprising - Art needs to be more transparent and trustworthy otherwise the market will smash us.Keep the faith guys! GLA
Spot the desperado! Barnetparasite more like, lol. Company only going one way my friend, don’t let your greed get the better of you - works two ways you know. GLA
It’s pretty obvious who and what they are. They write on this board 24/7 trying to be objective,lol. Most experienced investors can see right through it, the board is toxic unfortunately. We’re the deluded ones of course, LB was holding back information until after the bell, information that we all heard, and yet he thinks he has an effect on the SP - the arrogance is hilarious,lol. However, he’s already stated previously that “anyone that thinks message boards have an impact on SP’s is deluded”. So which one is it? Some good posters on here but unfortunately they get drowned out by the bile spouted from a few saddo’s who sit on here day after day commentating on the minute by minute movement of a share they’re invested in but have nothing good to say about it? Draw your own conclusion. They more they try to drive their agenda, the more I buy. GLA
I agree. Completely new management and business model, tbh thats a great sign, they’re open to change and move with the market, management are visionary’s and know they’re in the right spot at the right time. Use the experience from the past to learn and shape the future. Nothing ever went up in a straight line. Exciting times ahead. GLA
I think this is a bottom drawer share (in the best possible way), forget about it for a couple of years and come back - I fully believe it could be in the £'s rather than pence. Right sector, right time, great management, II backing. They're building the infrastructure slowly and concisely. They're marketing is superb, as a company they're just on it - they know where they're going and they know how to do it. I've been adding as much as I can at this level as I don't think we'll be here for long. DYOR.
To use the increase from April I believe is a false one. We've been told that there was always going to be lag from the start of the miscible flooding. Going by the last update this would ring true - there was a 24% increase from August 17th to August 31st - so quite an accelerated increase over this 14 day timeline. If this progress continues then we're looking at minimum double output in the next update which I'd surmise to be mid Nov. I'm sure it's not as linear as this and it may plateau but by all accounts and from what I've read the MF can deliver fantastic results above and beyond expected levels. It's important to be prudent HFB but your figures seem relatively bearish. GLA
Agree Tilburn. Art is obviously old school, doesn’t put it in his list of priorities but it doesn’t reflect well on the company, you need to be seen to be professional from top to bottom. He needs help in this area, a small investment would reap huge rewards. Perception is reality. GLA
I'm expecting our next update to show bopd way ahead of schedule >3000 bopd. With that, revenue will be far higher due to increased production but also an increase in WTI will be more significant due to circa 1900 bopd not hedged. The knock on effect with this also has a major impact on bottom line - net backs will climb exponentially with increased WTI - its a win win. Happy to sit and wait. GLA
Very well articulated Tedoby, the underlying fact is it’s a benefit going forward. Individuals who are invested and don’t know accounts could have read Gingers post and came to a very different conclusion. As I said previously, one of the roles I worked in my past was acquiring loss making companies for a blue chip employer, asset stripping and using previous losses. Savings and value added can be huge. As ever dyor.
Jog on Ginger. I fully understand it, stop being arrogant and condescending- have you ever heard the phrase cash is king? They’re called historical for a reason, I concur dividends can’t be paid out until a positive territory. Over the next 5 years we could make $100M in profits and with your synopsis we are not seen as valuable until retained losses are cleared, we’ve saved $20M in tax payments, have circa $100M in the bank but we’re not seen as valuable because we can’t pay out a dividend. There are many ways to take money out of a company, the problem with people like you is you stuck your nose in an accounting book and don’t see the bigger picture. Your point is valid in context but invalid in principle. Have a nice Sunday.