Member Info for dougb189

Are the grey cells correct in thinking there’s $43M of Senior Lender debt outstanding and additionally that we are now at $44M of outstanding unsecured bonds… and the hedges kick back in when ?

Any dilutions will likely be determined by the reasoning for consolidation & hence the management of. Might perhaps be better trying to find examples of previous consolidations which were then successful ? So why not use COPL’s recent endeavours in the field of successful stock management starting from the last consolidation ??

100 : 1 consolidation & the following 12 months…

1st October 2021 : 16,426,953,124 consolidated to 164,269,464

1st December 2021 : $8,000,000 accelerated book-build 20p. total of 194,519,464

1st April 2022 : 2021 financial results ‘..broken financial covenants..’ 34p to 22p

19th April 2022 : $13m Accelerated Bookbuild 20p. total of 244,449,464

13th May 2022 : TR1, Clarendon Trust, ‘below 3% threshold’

22nd July 2022 : Proceeds of $19.7 million from the Convertible will be used to finance the cash component of the acquisition of the Cuda Energy LLC

22nd September 2022 : conversion of bonds 16.75p .. a total of 266,336,466 common shares.

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“… You get diluted because the company needs more capital not because you consolidate your shares… I personally don’t go with all the doom n gloom connecting consolidation and dilution , there’s no connection imo..”

Thanks Altag, a month later & sadly that 1% figure is now sitting at 4.39M.

Thanks Trujack, I’m guessing that the indirect ownership via Pershing of 993,455 shares, has then bypassed most mainstream analysts inclusive of the London Stock Exchange’s Refinitv group. With almost an additional 50% increase in the number of shares owned, then suggests that the earlier estimated total purchase price of c.$1.24M is a wee bit conservative.

Then puts AM at holding c.0.76%

Still quite an insignificant number. Lol, but that’s Assuming of course that there are no more hidden cupboards stuffed with laundered confetti tickets ?!

A company’s Constitution as determined by its Articles of Association will then determine the various requirements although usually done within the sector’s guidelines.

Nearest can get to COPL’s AoA, is the Prospectus pg.64 ‘governance’ & is ‘ambiguous’. Lol

Thanks Ed., slightly different then to UK company Reg’s.

Still sends a strong message though to the board.

Ed., where do you get your 33.34% requirement from ?

My understanding is that any special resolution then requires 75% of the votes to carry it through…

With the Pi’s only needing 25.1% of the vote on consolidation, it then appears that AM will struggle to push that through.

FOR :

AM c.0.55% , Insiders c.1.4%, Legal Team c.5.09%, & the new investors, possibly including TR1 3.3% & an alleged recent holding just below 5%.

Possibles FOR then totals c.15.34% (67M shares)

AGAINST :

Pi’s currently need to find c.22.5M shares, to over-rule the consolidation vote. Even if BH are holding 20M (just below the notification threshold), then Pi’s with greater than 27.5M shares will carry the vote against.

‘..Mr. Chenery will Chair the COPL Reserves Committee and sit on the Health, Safety, and Environment Committee..’

Could it be that Bob Chenery is a rare breed, a man of integrity ?

Shortly after his arrival :

1. acting as Chair of the Reserves Committee & AM then backtracked on his intention to release the RS Report. Did BC influence that decision ?

2. Late last year and what appears to be a first, when a Health & Safety incident is reported. Did BC influence that release ?

There is the possibility that the man is indeed an independent.

If the Pi’s achieve 50.1% of the voting for director positions, would then suggest that the two independent directors remain on the board. Assuming AM is removed from the board then will require an interim director to cover the position. Tom Richardson sitting alone, could then be disadvantaged, as the lone Brit trying to cover the Canadian & American operations & regulations. Having Bob Chenery onboard then keeps a wee bit continuity until a new board materialises.

‘..Since 1981, Mr. Chenery has been President of Chenery Dobson Resource Management Ltd, a firm specializing in the evaluation and management of oil and gas assets primarily controlled by investors, banks, and other financial institutions. In addition, on behalf of some of the same clients, Mr. Chenery has been the CEO and/or Chairman of the board of several small oil and gas enterprises. Prior to 1981, Mr. Chenery was a member of the senior management team of the Elf/Aquitaine Group in Canada..

..Mr. Chenery will Chair the COPL Reserves Committee and sit on the Health, Safety, and Environment Committee..’

Assuming the Pi’s get their wish & AM gets removed, then Bob Chenery’s access to the financial markets over the last 40 years could yet be beneficial.

The figures involved then give Pi’s some extra background data & so should aid them to make up their own minds as to wether the current situation has been ‘engineered’ or not. Always argued that there’s been a catalogue of unfortunate errors as apposed to malicious deeds against the Pi’s. This had then been exacerbated by AM effectively going off-comms from 1st Feb with the drop from 16p to 5p, albeit the typical back-room comms from AM has been slowly picking up pace again.

1000:1 is perhaps a spoof or an error or maybe to assist AM in looking for fresh blood in the US ? Or as some poor lost souls might believe, the 1000:1 is to compensate for the shorting crews..

‘all of a sudden’ as in, 4 years in the making ?!

GGS Phase 1 then being quite critical for getting delivered on time.

1000:1 provides hedging ?

Over the last 8 years & AM has purchased approximately $1.24M worth of shares.

Pre consolidation :

21.12.15. 4.051M £121,246

22.12.15. 949k. £37,960

08.01.16. 1.122M. £50,378

17.02.16. 1.1M. £44,000

07.01.21. 57.5M. £115,000

Qty. 64,722,000 @ £368,584

Post 100:1 consolidation c. 647,220

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Post consolidation:

28.01.22. 665k. £385,700

23.08.22. 100k. $0.19/share (£/$ 1.185) £16K

24.08.22. 900k. $0.185/share. £140,506

c.£910,790 / c.$1,238,488 for 2,312,220 shares avg. 39p

These are only approximate figures as the various websites give differing figures eg. Rifinitv data records 5M bought on 21.12.15 for £106,500 & only 2.38p paid for 17.02.16 so some minor discrepancies.

The figures though show a serious long term commitment but which is now shaded by the dark cloud of a possible 1000:1.

Could be fair to say AM has not successfully engineered anything in almost two decades? The last calamitous RNS release which then saw the recent 66% drop in sp had all the hallmarks of yet another badly conceived, ill-prepared, rushed AM production, stamped all over it. To then suggest that AM has engineered the drop is a wee bit far fetched. As AM’s core business is drilling as apposed to ripping peeps off but there could now perhaps be a survival scenario where he is prepared to lose the Pi’s in favour of further placings until the field is guaranteed as self-sustaining.

Pi’s currently have to contemplate an incredulous request that then covers a potential 1000:1 consolidation and to then further contemplate if it has all been engineered ? If true it would have to come from a 3rd party and be fairly recently ie. Q1 2023. Which then puts the focus on the BH.

For that ‘engineered scenario’ to be successful though, would at the least require a TR1 from the BH and currently we are not seeing that. Then suggests it’s only further AM hiccups.

3 main possible scenarios Bob,

1. AM hedging for a ‘lost-game’ & still collects 10% irrespective of the confetti count & still collects a wee jet.

2. AM playing a spoof, whilst waiting on good news to then be officially released.

3. AM overseeing another paperwork mistake, that 100:1 was perhaps the intended figure, that the extra zero was a misprint.

And for no.3 we now all know perfectly well, that AM will never ever concede to owning up to any past mistakes.

Insults is currently being left to the little people like yourself dickbat.

100% Llyw-less is currently playing against the magic abacus & both sides then give entertaining inputs on various opinions & the interpretations of.

It then keeps the bb balanced.

Unlike your rather insipid inputs.

“.. The risk assessment is that part of the process you then look at after all the presentations & handshakes have finished..

..whilst the main characters ambitions & assumptions are then secondary.”

There is a theory floating around Llyw-less,

that you are not actually the full Monty..

& that being referred to as 100% Llyw-less is perhaps a misnomer..

Genghi., a reasonable conclusion would then suggest that AM is motivated by having a private jet ?

What is not known, is the steps he will take in achieving that ambition. Said it several times that he has not been criminal in his proceedings but was the man in charge over a series of unfortunate but well documented mistakes. You could reasonably argue that the decisions were all rushed, were ill-prepared, starting from the poor financial planning which saw multiple placings, some within days of each other, to then the poor technical planning & having to replace the B&Q plumbing.

I really don’t think that knowing what motivates the main characters will then assist the Pi’s, as perhaps say, knowing what are their capabilities, how high can they go, how low can they go or how do they react under pressure.

Not sure that I would agree with that Brel as the last people I want to be speaking with are the ‘actors actually making the decisions’.

The first rule in any risk assessment is to isolate oneself from any biased assumptions or ambitions and in specifically stepping away from being too close to the lead characters involved in putting together the original development. The risk assessment is that part of the process you then look at after all the presentations & handshakes have finished, when you then have to sit back & consider what could possibly go wrong.

I would say that my research has generally benefited from not having watched or listened to any of AM’s interviews since August 2020, post his insincere RNS listings. Of course it’s all then down to the individual how we approach research and what we each feel happy & secure with.

It’s great to hear that you are now comfortable having heard directly from the actors making the decisions but personally I much prefer making my own decisions, with most of that then being centred on the facts, whilst the main characters ambitions & assumptions are then secondary.

Factual, is that Anavio has sold.

Factual, is that there are 138M warrants at 6.75p.

Factual, is that there is a request for 1000:1consolidation.

Drawing conclusions and giving opinion is then what the bb is here for, be they unfounded or unevidenced assumptions.

You could indeed be correct Brel that ‘nothing comes off it’ but what does the market currently say of it all ?