Member Info for elland

Great expectations. Few trades now and buy price less than shown. This will fly with any positive news and/or a decent interim report.

100k shares

The last £100k sell was a buy. Mine

Just read your last post Stockbuyer. I can't speak for Stockdale but I am certainly not either a small nor new holder of COP. 6 foot 2 and 15 stone ! Held stock for 5 years and averaged down !

Currently 5.6 to buy and 5.5 sell. Today's transactions mixture of both and not all sells

I know this article is now a couple of months old but it is still worth re reading. Despite all the noise on this board about court cases and dusters, Tunisia remains the real potential growth story against the solidity of Egypt and Morocco. A find of up to 100m b of oil even at under $50 per b is well worth discussing. I expect farm out details well before the end of the year.

Yes I was Stockdale. Note your points and hope today might be the start of some recovery in the price

Why do you think that our new board is incapable of sorting this out ? Under Prof Green the strategy of not farming out was with hindsight a huge mistake. Our new CEO believes in the process of growth within a budget and has already started the farm out process for Tunisia. Ms Prior as new CFO, will keep the financials tight and the Chairman hired them both so must be in the loop. Have more faith and give it time. Lest see if there are some Director buys after the interims ?

Sorry Stockdale and yes, where is Ramerci. The point I was making is that even with net debt of say £25m the current market cap values all the assets in Egypt, Morocco and potential in Tunisis at a little over £50m. Crazy

Agreed Ramerci. However these interim results and the CEO comments are critical and I am looking for a narrative which will give the MMS confidence. Don't forget there have been no substantial sells since June but plenty of large buys. At a market cap of £28m with over £30m in the bank this needs very little to recover and remains a takeover target as per Westhouse

I spoke to the CFO yesterday and no date fixed for the interim result announcement yet but due next month

Usual situation. A large double buy trade today and far more buys than sells. Look at the last week. Twice as many buys than sells. The MMs do not reflect the traders here. If there were major problems, as some on here wish to project, we would be seeing large single sells. When this turns it will rise in a big way

It's interesting to note the more realistic broker comments re COP. Take Davy. Even after the last RNS they retain a Neutral stance at 15.9p which only allows 2p credit for Morocco and nothing for Tunisia. Peel hunt has reduced to 20p and again excludes Tunisia. Egypt continues to produce and oil prices affect this big time. By the time Tunisia is producing the Oil prices maybe back at realistic levels. I havnt included Investec as they are the sole house brokers. In the meantime the major shareholders have remained in place. Lifting costs remain low in Egypt and Morocco costs now significantly lower as per the BOD. This price will start to rise again

Today half mill more sells and correctly the price down. Yesterday more buys and stillbdown ?!On Monday well over a million more buys and level. Yes this share mostly driven by poor market sentiment as with its peers. Once oil prices level and start to rebound this share will follow.

Dilution ? Look at the cash in bank plus huge unused facility. Rubbish. New board ? Let the new CEO and Chairman have some time to sort things out. Our Financial Director, also new, is getting to grips with the costs and write offs in last trading yr cannot and will not happen again. Tunisia problems ? We are now in a position to farm out and already bigger and robust companies interested. Morocco ? Since the beginning of the year there have been more successes than not. We are an exploration company as well as producers. Some wells will be abandoned. We move on !

Well Stockdale I am fed up with them. Taking a break from here

Ok let's get some perspective here. The doomsday people are talking about problems in offshore Tunisia, mud and collapsed well etc. this the Med, close to Sicily not the Falklands. Shell for example are in the area. The potential here is huge. Re the sells, look at the volumes and also check the major shareholders. No one has sold anything which warrants an RNS. Finally please remind yourselves of our asset v liability position. Although year end results poor due to writes offs and write downs we are financially strong enough. Stay strong and ignore the pessimists

No date announced yet but will be sometime in Sept. This news today was really encouraging and I am amazed with the resultant share activity. If COP have already been approached by potential farm out partners, the announcement of details may arrive faster than we believe.

Well we have been waiting long enough for this excellent news. The farm out process starts now and this is where we may see the future potential new owners of COP

Disagree there Delano47. Both companies quoted are basket cases with huge debt. Cop are neither