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If you’d have listened to Tomhuk re Angus Energy you’d have lost 50% in just over 6 months. He was Strong Buy Recommendation 2.15p (22 SEP).

Ohh no … Daniel thinks the “Largest Oil Discovery for decades” has or is already being Appraised.

All the best.

If cash payment was forthcoming from JV Party then why not give us the cash before Bondholders involvement ?

Now we need double the amount of cash to clear debt.

If we were getting cash upfront pre Appraisal we would have signed sealed and delivered already.

Terms for that must have been poor ?

The real loot is Post Appraisal.

Once Appraised and it is everything some on here hope for / then this will fly. Obviously.

If I am right / Art is getting Copl to a place where he can self fund or in part self fund the Appraisal. And that means getting Production up to de risk servicing of debt.

JV Terms then multiply and he could then pay debt off imo. Not before. No cash before Appraisal. Or not enough to clear the debt / as I’ve said / if on offer we would not have needed Bondholders at 6p.

I’ve made my opinion clear.

It is plausible route to success.

He cannot Appraise before he gets Production up because if Appraisal fails, he has nothing to fallback on. He needs that Production up to protect Liquidity.

16p “We’re going to need some money as Production is falling and I cannot pay the bills”.

“Go anway and come back once we can get a bigger Share for our buck”.

“6p any good ?”

“Yes. Here’s your money. Thank you”.

Art buys the Pipe to de bottleneck and allows long term Production decline to reverse.

Now, you can believe that Art could have raised at 16p and it was just unfortunate that a 2 week shutdown caused SP crash and only then did he decide he needed the money to buy the pipe.

We certainly did Dickbat. At great cost to all holders.

I’ve never been banned on LSE. I never insult or call people names apart from a few slips perhaps amongst 3000 Posts. Was involved in I3E and learned a lot there re Dilution and false promises.

Right. Speak toward end of next week. See what happens. Copl The Musical. Someone predicted JV next week…

Night. GLA.

And I’ve never subscribed to the 100 or even 10 Bag. Everyone else has held on in the hope this will materialise. Art a clever cat. While PI have averaged down. Those in the know know where theValue is 12/24 months down the line. They were Selling as PI were Averaging down. Averaging down on hope created by Art. Bondholders / Financiers wouldn’t touch this Company unless they got full control. So they got in 6p vs 16p. They took control and remain in control of the direction of the SP.

Hey / IfCopl never need cash again / The Bondholder won’t Sell sub 10p will they ? But they have Sold and thus acted as a Short on the SP. A Short on their own Investment. Second round of Investment to come ? We shall see…

Wildboar. I couldn’t possibly advise you anything re your current holding. Art got you where he want you.

This Company is controlled now by the Bondholders. They have full control where the current SP goes and are fully aware re any forthcoming second round of Investment.

I see a future re Copl and possible upside from 3p but it could be locked in should there be another round / and that would be for Appraisal.

Art is getting Production up. Current PI have paid for that indirectly because of Bondholders influence. This will / should deliver upside from 3p / but won’t imo be more than 5p.

What I do know is that I’d rather be waiting on the side to Invest in that upside of Production from 3p. Sell a fair % on a Rise and then hedge against a second round of Bondholder involvement/ because I say again.. Who is going to fund that Appraisal ?

No Company hands over $100m cash component for an Un Appraised Venture. We will have to part fund it I believe or risk signing poorer JV Terms. I think this is what Art trying to position Copl around.

Also, the Short Term Focus absolutely has to be inc Production / which btw also permits Copl to Raise and Service Higher Debt re Appraisal. Has to be this ? Imo.

Holders won’t get any say as it get out to the Vote and Bondholders in control.

Would I Sell at 3p ? No I wouldn’t for the potential rise to 4.5p on near term Production Rise. The New Copl will attract New Investors and more Value there to add vs Averaging down now imo.

Just my opinion. Hope this helps. Or hold on to the 10/100 Bag. It all depends on the result of the Appraisal and who funds it.

Mal. Your response is admirable as I do value your honesty in it.

No Business is going to clear our Debt mountain without an Appraisal. It just will not happen imho.

If Appraisal is successful / then yes it is possible.

So who is going to fund Appraisal ? We will have to in order to maintain best JV Terms.

Let’s see what the Professionals think of my analysis and possible outcome… Tiburn / Blackstout / Shouston / Shaa. Some 40.000 Posts between them.

Share Opinion. That’s what a Bulletin Board is for.

Or JV will just pay for everything inc cash up front before the FD is Appraised ?

GLA.

Bondholders own the Company majority. Bondholders have Sold a % which has basically acted as a Short on Copl SP. Disagree as you wish.

Why would BH Short the SP down to 3p ?

Because if a New Copl is in the making and funds required / The Bondholders real motive is imo to be First in re the New Copl. How do they get in ? A New Copl would need a reason to go back to the Bondholders for more funds.

Why would an Oil Major give Copl up front cash and then take all the Risk re Drilling Costs ?

The FD needs Appraising. The more we fund that Appraisal / The better Terms the JV has to be Yes ? Why ? Because we would reduce the Risk if Appraisal was successful. That’s where the Bondholders come in. To part fund the Appraisal.

We aren’t ever going to be in a position to even part fund 50/100 Horizontals. The JV will have to do that.

But we need to be involved in the Appraisal. Hence Art needs a production up to to facilitate better terms with the Bondholders in the next round.

Just my opinion. Be careful.

Good Night. GLA. Make up your own minds. Share Opinion.

Rest assured for the money up front required upon any JV lock in / Art will not allow current SH any significant Share of the New Copl. Only then will you become fully aware that you have all been rinsed.

Or maybe JV will pay for everything ?

If New Shareholders are required to put the money in / why would Art divert any of that Value created to old SH ??

GLA and a good evening.

Yes. Blackstout helped all LTH’s remain Positive from 35p right down to 3p. Even at 6p he remained Supportive to all; but since then you’d have lost 50% of your Investment over a matter of weeks.

Dickbat now wishes it to be known that he does not commit to the 6000 club. Wise move imo. Hedging his own opinion nevertheless by saying “A lot more”.

So we got Blackstout. Dickbat. Shouston. And now Plaicefish. All on 6000bopd by DEC 2023. Anymore ?

This Dickbat is multi talented. Firsts he asks a Question. Then makes 3 attempts to answer it himself. Then gives me instruction to what I cannot say. All the while insulting the intended to which he expects a reply. Nice one.

He’s thinking now …

Do you think 6000 will be achieved in next 5 months Dickbat ?

Dickbat. I don’t understand you and your Negativity. I’ve just stated that 3000bopd by Christmas is do able. How is that Shorting ? Are you ok ?

6000 by Christmas it is then Mal. See you then with your prediction.