Member Info for dougb189

‘.. Not sure why I’m the only one who thinks this rare bit of insight isn’t very alarming...’

The idiom ‘the boy who cried wolf’ highlights where numerous unsubstantiated claims then lead to any valid points being ignored....

1p as a nice round number would be a good foundation;
the MM’s would probably see that as a good marker against which they could incorporate any additional shares/warrants. Similar effect to when the market capital recently doubled £12M to £25M but the sp remained constant.
Sooooo.... an sp c.1p & a mc of between £96M & £120M as the warrants & Atomic Senior’s stock get added?
Next jump would then be on acquiring NOP &/or CNOOC holdings.

Hi CawCaw,

‘..Hedges are a material contract and would need to be disclosed..’
Your statement is at odds with what the purpose of a progress report is for :
‘.. This report is not intended to replace the Issuer’s obligation to separately report material information forthwith.....’

AM will hopefully be putting the finishing touches to the last 8 months (June 2020 fund raise inc. ‘friends’) of relentless negotiations/assessments/reports, and COPL will once again be back in the driving seat.

It may indeed have been an obscure filing in some remote corner of Canada, but is very much intrinsic to the ongoing story. Then followed by some good (&v.passionate!) arguments on the merits of the report, then massively assists in promoting the company achievements & prospects.

The requested ‘hedges’ though have nothing to do with a monthly report, they are tied in with the complexities of the loan, which the shareholders may or may not, receive initial access to.

CC.,

Calm down, way tooo hot & cold, & we all know the effects..it induces metal fatigue! AM is required by the regulations to comment on any possible trends that could affect his company.
And COVID has affected every single O&G company.
It now appears though, that with the financial clout that COPL have recently raised, that they are in a far better position, to move forward than most operators in the O&G sector.

‘...the COPL word salad..’. LOL but point taken.

As progress reports go though & it All looks good.

Report on Business item 3, could maybe perhaps have added a little meat to the bones?! As we have been in receipt of 120 bod since Dec.1st but overall & it is good to see the considerable funds that have been successfully raised, again being posted. Acquiring Atomic’s 800bod interest will then be wow factor no.1

Wow factor no.2 & im thinking: There is then another c.£5.5M to be raised from the 0.26p warrants, which may go towards acquiring the NOP holdings &/or CNOOC’s, ie the other 43%, giving the full 100%WI from which to start further developments as per the Ryder Scott report.

...unless the offer of that extra $20M loan has already been ear-marked to cover those two (NOP + CNOOC) additional acquisitions ?

If all goes well for transfer of ownership then the Company now appears to be looking in a very good position from which to start chasing that forecasted 2P production rate of 5000bod by next year, on the 1st field, the Barron Flats.

Looking forward to ‘the week commencing 15th February’.

There is a possibility that the oil price has been hedged..

The term was used by AM when describing the lenders loan arrangements, but might apply to various other metrics.

Sounds as if Buhari is looking at possibly ‘nationalising’ the support industry to reduce OPEX; they are reliant on foreign operators to provide these services but there is now a good supply of quality home based talent that could perhaps take over. Met the then Oil Minister (c.300 years ago, assisting the old guy to get to a rig) who had stood up against the majors &their very low, paltry taxes, turned it all around, &executed a significant tax rise, the end result of which was the country &its population of c.70% poverty now has that significantly reduced, & now sees c.70% of the population driving around in 4x4’s (albeit mostly 2nd hand, but they are slowly getting there). If he pushes through with reducing opex costs, would ease burden on smaller companies until such time they then had to produce the accounts & so an enhanced profit margin could then get returned back to Nigeria.
The talent that COPL brings to the table, of start-ups, of chasing new sites & licences, is a specific talent creditable to the COPL team, and not so readily available locally, for OPL.

My apologies Jiving,
I was being somewhat facetious, rather flippant on a serious issue,
the earlier post by Trading Lad ('..Atomic Senior playing around with CFD's..) had me both amused & intrigued.

And of course, AM reads this.
Therefore.. A gentle shot across the bow, so to speak. ie. Wake up, or lose it.

CC.,
I do suspect that operating a minnow and what that entails (ie sentiment being highly leveraged) is probably a very different game to what has previously been played, in dealings with majors, more focussed on making the % points from the blue-prints. IF we get Atomic as a foundation stone, then we should see a very different AM, that will then be able to get OPL moving. Lol, but us PI's are very much currently a bad crop of mushrooms.

CFD's for Atomic Senior ? but that's way too complicated, IF he is still a game player then all has to do, is simply bide his time.

His future $4M worth of stock, is then the average sp of the last 5 days prior to deal completion, which currently looks rather like being:
day (1) 0.25p (2). 0.25p (3) 0.25p. (4) 0.25p followed by the 5th day, & lets say 1p.
totals being 2p, averaged over 5 days, giving 0.4p which for his $4M gratuity, then equates to 1B OS..

At which point he then becomes the joint major shareholder, calls up an EGM,
and whoop, is goodnight AM.....
CFD's ? He doesn't have to work that hard, AM is currently putting it all on a plate for him.

The other joint major share holder, who has just seen their holdings in a 'mining' company, return a nice 50% profit over the last week, c.$7M+ (& they've still not cashed in) was from an aspiring company where the 'newsletters' to its shareholders are being produced every month, so suspect that they too might also be querying the lack of progress reports. Financials summaries could be produced at any time and with not having to adhere to a quarterly update & waiting till March.

Lo, excitement is also what happens after two cans of Irn Bru on a Saturday nite.
GLA.

Excitement is the antidote to toxic.

If AM’s currently excited with spearing a 1400bod minnow, then that shows that the game is still very much in his DNA.

We’ll all have our own excitement thresholds but im thinking AM will be over the moon with a minnow of c.£125M & an sp of c.1p in his portfolio. Will be a wonderful foundation level from which to re-enter the big boys game sets.

AM having to prove himself / his past creating an 'unloved' stock
is similar to how I see all of us; the last 12 months creates a toxic body, mind & soul,
yet the moment we get released to go 'forth & multiply', we quickly burn off these toxins,
& the 'muscle memory' that we all retain, quickly re-establishes itself, the joy of liberty again.
AM's 'muscle memory' was perhaps last used over a decade ago, But at which time he was then negotiating a $1B worth of loans to feed into 8 newly acquired licences. His lock-down, was then the toxic Fanny Mae, knocking out all the banks.
His most recent past, is in part due to keeping COPL together.

First mill was made on LGO, the game plan had been invest 150k on 18 donkeys (always think outside the box)
Each donkey, was originally producing 6 bod & with modern engineering/software/diagnostics, a target of 60 bod from each donkey was hoped for. The game plan was to wait 4 years and bail out at 500k.
The 1st donkey then produced 240 bod & that game's plan was then doubled in less than 4 months..

AM's 'mistake' imo, was to announce those targets. The market then subconsciously factors that in.
The wow factor comes always comes on the unexpected & for us, that's buying out the NOP, perhaps even 100%WI.
Hopefully there will be a regular/daily newsfeed from AM, which will then flush out toxic & bring in the sentiment, as he reacquaints himself with his old negotiating skillsets..

Trying to find if that $57 is a result of globally reduced oil flows or wether Biden’s proposed floating an extra 2T dollar bills in the economy, is the factor driving the price up. Of good note, Nig’s loss of some oil output with several players shutting down their onshore pipelines in response to pipe leaks (read as rampant pilfering) helps the offshore case.

Thank you Phoebus; I had been wondering on where to look for the next generation of number crunchers, to try & get my head around the computing outputs (against time) of our current rack of CPU's (with trying to get a time requirement for the next generation) then it hit me, the latest S19's & S19 Pro's will then get eclipsed by your S19 Aleph's ?! Currently with 0.6% of the total computing power of PH (& 5% of EH) I'm wondering if Paul will then priorities yet further additional S19's as apposed to say further HODL's..

'Bitcoin futures' and I suspect that once the big market boys are established, then again we will see some serious fireworks:

Guggenheim are now cleared for picking up $0.5B worth of stock and their Scott Minerd has already talked of a $400,000 BTC, immediately followed by an evaluation of $20,000 per BTC. He has the power to do that.
LOL, but these guys will be wanting to make serious returns, and currently any of the whales can influence the direction of the futures. Elon achieved it last Friday and he's currently not even a player (allegedly!).

Reading up & there is a 3rd possible reason for the recent dump (c.30,000BTC & not 100,000!) by the Chinese F2 Pool, and that was that some big miners do then benefit with the lower price of a BTC, as the rewards are less which then knocks out the smaller miners.. Oh... & China also now setting up a digital Yuan & possible funds needed to create its blockchain...

Tommy.
,
F2 Pool being the consortium off a dozen or so Chinese miners, who've recently dumped $1B worth, c.100,000BTC.

2 probables why, or possibly a combination of both;:
Chinese New Year coming up soon, & traditionally convert to cash
A possible repeat of last April's Oil futures, where it is thought they assisted, by off-loading oil onto the market.

Highlights the strength of the whales & a possible weakness in the system, but this particular down-load seems to be getting easily absorbed.

Half expecting this guy to make an appearance on Thursday &/or Friday.
As payback to Saylor for assistance in his December enquiries into incorporating BC into the company books.

He's mightily peeved at the Wall St shorters
and at the performance of the $ that he posted 'the dollar is shorting itself' 28/01/21.

Suspect there will be some fireworks this week.

Nice one Blad.,

Imo, the figures though only go part of the way to describing what is at play. Part of the equation would be the inputs from all the players (Atomic's key player & his possible influences was covered by CC last night) with the most significant player being AM tied in with his team at COPL. At one point that team were amongst the most active players in the North Sea, winning 8 licences & chasing c.$1B of development funds via RBS. All of course, immediately prior to Fanny Mae & the banks then having a toxic wobble.

Lol but 'ridiculous' would perhaps be comparing the soon to be c.5000bod flow rates, to the flow rates from COPL's Brenda field & of it needing a substantial 10" pipe to handle its flow output. Multiply Atomic's 1st field, estimated 2022 figures by 4 to 6 times, & you get the picture. Input those serious game players, who were actively chasing serious multiples of all the above figures and perhaps there can be some reasoning on why AM has painfully paid (thru the dilutions) to keep his team together, with an eye on future performance. Hopefully there will be no repeat of players like Fanny Mae or of toxic mortgage loans but today's RNS highlighting Biden's intents, will be reassuring to those mates in the O&G E&P sector now looking at new game plays in the development & production sector.

Lb.,
Touché, nice one,
But you did recognise that the particular ii only focused on CFD’s ?

Tilburn,
Nice one. That I suspect is the controlling factor, his loyalty towards staff & the goodwill factor when their jobs are kept safe with the £40M debt & loans paid off.