Member Info for Devilbhoy

“300,000 bopd”?!
I wish this platform supported emojis. I’d settle for 3,000 bopd.

And? As it stands, the price of oil any has no effect on the share price. It could be $150 a barrel and the share price wouldn’t move. This is not about the price of a barrel of oil.

Benny-Hill - Why have you started posting such d!ckish posts?

It is if you just read it in isolation rather than understand it’s actually really a 50 to 75 million barrel discovery, as that is likely what is actually recoverable.

Anyone gambling by buying this stock now given all the information in the public domain, if you really think bankruptcy is going to leave you better off than selling at 4p then you deserve to lose your money.

“as to almost create this situation so that the overruling would be overturned. I have been to Cineworld many times after lockdown, and it's been full on many occasions, so something does not add up. I might buy in with money I am prepared to lose, and it could be an epic gamble if indeed Cineworld are playing games. After all, they are in the entertainment business.”

capehake (and whoever recommended your post, stay away from the stock market.

“If anyone thinks that we are not going up today here wants head examining”

Looking pretty stupid now Profitjock.

“Why was Arthur in London? Holiday, or private chats with II's.

Strange how the sp is moving this afternoon, a day later!”

No it’s not. Posting pish like this reduces your credibility.

“However not sure anyone including the company expected a bond holder to flip so quickly, nor have the disproportionate impact on the SP.”

Harry - I’m fairly certain you have been around COPL for some time. At best, this is disingenuous. At worst, it’s downright stupid. What on earth leads you to post this statement given the last two years?

You only have 2% of your portfolio in COPL. I never would have known were it not for the fact you mention it in every post.

Who cares. It’s irrelevant.

garyn - That would be a very high risk strategy at this point in time then as one would think this is near the bottom now and any positive news flow could result in the shares being recalled and them having to buy the shares in the open market.

“Devil - Why couldn't they have been selling their existing shares from 22p down knowing these cheaper shares were on the horizon?”

Putting aside nobody (to the best of my knowledge) knows who has taken part in the financing and who is selling what shares and therefore is unable to say they are one and the same, I never said someone couldn’t be doing that. That’s not short selling though, as they are selling shares they own.

“i think thats very risky opening a covered short with possible 12 months before they can cover and in that time they are earning zero interest on the bond they held = seems a bit pointless.”

There is absolutely no evidence this is the case. Feel free to debate this hypothetically but anyone representing this as anything other than conjecture if talking pish.

“Of course they can forward sell them - they open a covered short (the convertible bonds cover that position so it isn’t naked), and then once they receive the stock from the bond conversion they use that to close the short rather than having to buy stock on the open market to settle it!”

What you have described there is just plain old shorting, as I said.

And opening a short without having the bond conversion available would not be a naked short. Naked shorting is illegal.

They can’t “forward” sell.

There you go again. They can’t forward sell shares they never had. They could only short the shares and then convert the bonds which, as you have said, only makes sense if they think the price is going back up given the current conversion price (although no doubt will prove another barrier at a later date).

“Come on Tiburn give it a rest, you got BPC/CEG comprehensively wrong (99% drop) and many others, why should people start listening to you now?”

They shouldn’t listen to him or any of the other bizarre individuals whose lives revolve around incessantly posting on this forum. None if them really know anything.

And as of right now they still are trending lower.

Edgein - If I have to decide between oil futures and an investment bank analyst’s opinion as to future oil price movement there is no competition as to which one I trust more.

I just don’t post opinions as facts. When I last saw the price of oil futures a couple of days ago they were on a downward trend. That is the only fact available upon which to predict oil prices if you want to attempt to do so.