Member Info for EyeGuy

Just to say thanks to Pete Brailey who has found the salary package for ART. Pete is a bear here which is fine with me. It’s an opinion. But his take is ART bankrupting the company and reclaiming the asset for himself . The fact that are earns circa £215 k per year plus stock options plus extras means this theory seems to me completely implausible. You would not give up this much cash. It makes me even more bullish

Agree with LB28
The tiny details make this.
The discrepancy here with risk and reward couldn’t be greater. Risk is bust. Reward is 1-2000% imo.
So these details make a huge difference.
Big day tomorrow with that big delayed buy from Friday

Oilberta- it’s not the same wording.
Also art using own cash.
Also it’s only a small amount of money which makes clear that it is enough to conclude the deal.
Which means it’s very soon- as the money won’t last long. But it’s not meant to last long

I’ve read the rns several times and it’s quite clear the loan is a bridge until the finance news arrives.
I can’t see how people can read that and think either big placing or bankrupt the company and run off with the assets.
It mentions “will” and “conclude”- not “may” or “hope to conclude”
I’ve always said risk vs reward. Risk is the company going bust and it goes to zero. That’s the same as any company pre revenue.
Reward is imo 1000-2000% rise quickly.
If you don’t like the risk / reward aspect then don’t buy the shares.
The bears are basically saying ART is lying. So if you believe the rns is true then we should do very well.
Also worth mentioning that the ability to get the finance is not related to the mcap of the company. Whether or not the company is valued at £3 mill or £15 mill, it’s still not enough for equity funding for operations. So for example if the share price was now say 0.6p, it would not mean a finance package is more likely. The risk is still there

I haven’t commented on BPC as I don’t know much about it

Otago- more I read the more I like.
With positive news this should do 1p imo.
End of year could be multiples of that.
Next rns is of course crucial but I suspect a lot of position taking over next week or so. I would say based on cash loan it will be within 2 weeks

Although it is difficult to value what COPL’s 40% interest in the PSC might be worth, in general terms the “size of prize” for all Oil & Gas projects falls under the categorization of “the bigger the better”! As already noted, the NSAI report on OPL 226 estimates gross, un-risked recoverable resources between 284 Mmbbls and 1,014 Mmbbls, focused across the Block based only on the 6100’ sand encountered at Noa-1.
The Company, however, recognizes additional resource poten- tial beyond the 6100’ mapping horizon, and interprets thick pay sequences in both the 7200’ and 8000’ zones, which exhibit pro- nounced Extended Elastic Impedance (EEI) and Joint Impedance- Facies Inversion (Ji-Fi) anomalies for hydrocarbons. The Anyala-1 discovery well had 55 metres of net pay in the 7200’ sand. COPL has used conservative assumptions for average porosity; aver- age water saturation; and average net pay over 28,000 acres of prospective seismic anomalies to calculate in place oil resources (OOIP) of over 2.6 billion barrels for the 7200’ zone alone. The Company estimates that this could be doubled to over 5 billion bar- rels if the 8000’ zone is also taken into consideration. A conserva- tive recovery factor of 25% provides a recoverable oil resource of approximately 1.4 billion barrels. COPL’s 40% net interest of some 560 Mmbbls would dwarf what the Company’s 17% net interest could have been in Liberia had that well been successful.

Good find Otago. I also like the look of this on the shoreline energy website :
Schlumberger Testing & Production
Shoreline Energy Investments holds a 17% share value in Schlumberger Testing & Production. The entity Uses leading technologies to deliver a range of unique measurements, Schlumberger teams combine field-proven testing experience with reservoir-domain such as flow rate, fluid properties, composition, pressure, and temperature .
Page 11
http://www.shoreline-group.com/profile.pdf

Signed sealed and delivered possibly next week
I expect position taking to continue.
Genuine possibility of this being over 1p on the signing when the rns hits.
Cash pile of $200k is enough to get over line according to RNS. So has to be very soon imo

Oilberta- always said high risk high reward here.
If people don’t want the risk it’s simple - don’t buy or sell. You must still favour the risk/reward otherwise you would have sold ?
Getting stick on twitter tonight - no surprise
Get most when I do well

They wouldn’t.

Also worth mentioning that $65 million has already been spent on OPL226. Its an advanced project and the final piece of the jigsaw is the finance.
I would strongly disagree with anyone saying at £3-4 million cap its overvalued.
Shows the potential to go up 1000-2000% on good news.
And also shows with full field developed could be £100’s millions in the mcap

Worth looking at the older presentation here.
http://www.canoverseas.com/wp-content/uploads/2017/06/OPL226-Project-Summary-May-2017-Final.pdf

Massive potential

Post recommended. Mirroring my thoughts.

Guitar- agree with that. We are close

Boom- I’ve read all the troll comments but they can’t all be true.
Some saying that ART will bankrupt the company and take the asset because it’s that valuable. If he does that he wouldn’t get a penny from COPL again.
Then others say the opposite and say that he will “milk shareholders” by taking his salary.
That contradicts the above because it can’t be both.
Then some other guy is posting that the asset is basically worthless. Again contradictions.
They are either all wrong or someone is wrong
Holding tight here. News is close

Boom- the 200k isn’t huge but read the RNS again. It’s enough to conclude the deal. As per rns.
I would be more worried if it was a lot more to suggest it isn’t close

He also says CONCLUDE!!!

The language is different. Read it again. He says WILL.
Arthur Millholland, President and CEO, commented : "This loan, which reflects my confidence in the company, will generate the necessary funds so we can conclude the additional financing measures needed to commence appraisal drilling of OPL 226“

These are ALL the funds that are needed. As you pointed out the funds won’t last long. That’s the idea. News imo within weeks. It doesn’t need to last long.

Certainly looks like a big delayed buy. Explains the drop to fill it.
As people have pointed out the loan amount is small. I think news nailed in the next 2 weeks.