Member Info for dougb189

Chick., just to play it on the news flows, so returned to this May 2020 at 7p but then slowly vacated.

News flows then means interpreting Everyones opinions inclusive of TW (i had him wrong on 3 points in his latest report) & of course interpreting what the bb believes to be the word of AM (I don’t trust the guy so i never watch any his interview).

Still expect this to hit my earlier (from January) quoted target of c.50p with or without AM.

“..I'm here for the assets, which will out. Anyone investing in 88e cannot invest in assets because they don't have any yet and millions and millions of pounds will have to be found before any tangible assets appear.

That's reality, Doug…”

And a wee bit research going thru Doug’s posts will then show that in the winter of 2013 he slowly acquired the best part of 30M shares in 88E and he then made it quite clear to the bb that he was vacating at 3p whilst they all ramped of the 10p party as led by Abdn. Then doug duly did vacate as the sp headed towards 4p.

How ill-conceived, how narrow minded & how badly researched to state that investors are only loading up for the assets when one clearly has no idea at all of what the metrics are that then drive value..

‘It’s pointless going on about COPL’s dilutions before the consolidation as that is old news’.

So not at all ‘as the story unfolds’,
But rather, jump in half way thru the story,
And then just hope for a happy ever after ending ?!

Interesting research philosophy,
that is perhaps bordering on…insanity ?!

Fingers crossed Mr.B., but perversely it also seems to work (for the Pi) if there is no news this week : significant restructuring required of the 2024 & 2025 bonds inclusive of additional funding, in addition to a possible restructuring of the senior lender’s covenants. And i am guessing, a possible restructuring of COPL.

When reality gets lost :

“…how many billions of shares in 88e now, with loads more to come? No, I remain happy with my investment, and I will stay here until the story unfolds fully. Interesting that even self-confessed shorter Winnifroth and his band of dishonest lemmings actually backtracked over the weekend and started hedging their bets. Winnifroth clearly realises that it might actually come off and he'd be left looking like more of a cant than usual. If you're holding, ignore the manipulative yobbery who will always say anything to get the SP lower, and hold firm. This has a better chance of going big than any other small oiler out there.…”

88E @18.266B shares,
COPL @3.6B shares Jan.2020
& now at 27.7B shares (pre consolidation) with another c.15.1B due from BH conversion at 13p (now being renegotiated) so perhaps closer to another 30.2B assuming 6.5p then used, & which is all prior to the additional funding that is needed….‘as the story unfolds’ ?!

TW foolishly called this 10p.
Albeit he did call it 10 months ago when the sp was then at 24p.
Silly man, was out by almost 50% on last night’s closing price.

‘..they are hedging their bets….clearly realises might come good…more of a cant than usual….
This has a better chance of going big than any other small oiler out there.…’.

Manipulative yobbery indeed.

https://www.windy.com/42.870/-106.310?42.413,-106.309,8,m:eQCaddY

Ouchh.

Nice article HH, capturing all the salient points.
‘Realistically’ & it all hinges on the BH.
Fingers crossed it’s not so much Chapter 7 as more of a Chapter 11,
ie. the secured loans / bonds are yet again further rearranged
& the management team are ‘upgraded’.

Article somewhat shy though, even cloudy perhaps (which poorly assists),
as Setbacks are also Inclusive of :

4. Realising the increased gas pressures then require all the relevant topside plumbing to be expensively upgraded to withstand the substantial five-fold pressure increase.
5. the difficulty in drilling without fracturing the targeted strata’s membranes or of the downtime then incurred when the cement refuses to cement.
6. the setback incurred with trying to get the required flaring accomplished.

100% as per :
“- Anavio and the senior lender both have big skin in the game. They won't want the company going down for the sake of a couple of million.
- The December figures, despite some weather, showed improvement with the flaring only really getting going..’’

In summary, we still await direction from the BH.
& as a betting man, I’d perhaps hedge an open watchful eye,
on that most accomplished of Soothsayers, aka The Casper Weatherman..

Mandatory due to the previous poor compliance of notifying recent placings admissions to the market. The actual placings RNS then resulted in ‘new shares to be added within the next x days’ and which were then not further promulgated.
Bottom line, he’s as bad at the admin as he is every other discipline.

Silence ? Guessing he may have been put under an NDA from the creditors, with no further news releases permitted, untill they have proof read it. That they are as peeved at the COPL word salads as we all are.

‘..but no point as they have no seat at the table..’

With the history of the poor management clearly being seen,
Then expecting the above to change.
Only another 15% required to take Full control ?

c.£20M worth at 13p just to break even.
Jan3rd. & BH ‘permitted’ the conversion rate to remain.
Big regrets, no doubt.

A. There’s a JV tomorrow & BH score. Job done.
B. No JV just yet, small placing likely required to fund a horizontal (£4M +80% principle @eg.10p gives c.50M shares) which is perhaps the only ‘quick fix’ left in AM’s tool box to get the sp / sentiment back up north, if it then provides 1000bopd.

So very similar to 88e, many will jump in for the drill but also many will then have no confidence in the team result & am guessing they’ll exit immediately prior.

Not really bud, most of the sharper LTH know that I never post during trading hours and the reason for that is dry simple. I may like the asset but I do not have a good word to say about AM. What has changed though, is the perception of some LTH trading habits. Enjoy next week bud. Lol.

Lol, and are you aware of where exactly the quoted +5c temperatures were being taken from ?!

Clue.. Cheyenne is a long long way from Casper.

Now perhaps you understand why you are best just left to mumbling in the corner ?

For those querying my assement of TW being ‘magnanimous’

TW : “…Prior to this news landing the share price had been trading at over 16p, having gone a bit of spurt following an interview from CEO Arthur Millholland, but when the RNS was released the price immediately crashed and hit a low of 5.25p, before bouncing back to a close of around 8p by the end of last week.

What the prospectus contained which really seemed to spook the market was a warning that the company doesn’t have sufficient capital for the next 12 months, which isn’t all that unusual to see and is the case for quite a few small companies.

But it was more the fact that it also stated that COPL America, which controls its producing assets, would be unable to share any profit generated until such time as the senior facility was re-paid, under the terms of the covenants which it now seems as though the lenders are enforcing at least in part.…”

Whereas i would have highlighted that it was AM’s clumsy news release, that spooked the Pi’s, it appears that TW gives some credit ‘it was not unusual’ or, it was just bad luck, as apposed to the RNS being released & very few understood it, aoart from the multiple negative connotations.

Nice one…

“.. Most likely I think that a JV partner would take a share of the asset in return for covering some of Canadians share of future appraisal and development costs, and no cash will change hands. Or certainly not a significant amount anyway, and given the situation with COPL America, who the deal would be with, and it being unable to pass cash on to the parent, it seems unlikely that it would get the company out of its current financial trouble even if that happened. What it would do is cause the share price to rise I suspect – even with people hoping for a load of money, which would of course be helpful for securing future funding….”

Good article from TW covering COPL & for which he goes a lot deeper than any of those posted on here have covered.

He has not written the company off, yet explains the constrictions that the Senior Debt lenders are now placing.

I think THE pertinent point in TW’s article is :

“..At this stage I see it an unlikely scenario that the company is going to fold & suspect it will raise some money very soon, as it only needs enough to keep it going for now..”

ie. as it only needs enough to keep it going for now.

Similar to what several good peeps on here have posted, that we take a small placing …. And IMO that is needed to get that 1st Horizontal up & running.

Good article, even being slightly magnanimous towards AM,
summarised as
‘TW staying clear of it but that he recognises it will be a good trader’s stock with some wild swings still to come.’

AND he has hinted at the possibility of a recovery..

Ahhhhhhh…my apologies,
had not realised that the Frontier stretched 180 miles south.

Lol, you are right young lady, tomorrow it’s a balmy -3c in Casper and only dropping to -7c thru the week. Nice research gal.

Good Lord and you extolled the purchasing of COPL shares everyday for 9 months, from 18p all the way down to 12p and then back up to 16p, with no background research ?!

Windy.com :
https://www.windy.com/42.977/-106.144?temp,42.494,-

Windy.com :
https://www.windy.com/42.977/-106.144?temp,42.494,-105.721,8

which currently shows CC at -5c & blowing 19knts.
Now click on Casper & check out next week’s temps..

Chill young lady, the charts show Casper at -5c & blowing 19knts.
That then gives a wind chill of -19c
So actually, is a wee bit colder than yesterday.

As previously posted, a record low of -78c being seen in north east .
https://www.bbc.co.uk/news/world-us-canada-64485092

Try looking at the positive Opulenta,
think of the impact on the SPR figures.

Lol, I read the -78c wind chill report, but thought the bb too nervous.