RE: Copl19 Dec 2023 15:06
Like most people on here and invested in COPL i was a little shocked yesterday at the news, again like fellow investors im underwater, perhaps i should have reigned in my optimism when piling into the company based on the promises and Charles Archer's prediction (see below). I failed to stick to the general rule and not to put all your eggs in one basket, lets say i have a few too many eggs at risk now, its my decision i will live or die by the sword on that basis. I have been following the board for months, reading both the positive and negative views on the asset.
The way Art and Cowan have conducted themselves is unforgivable, i get better communication from my son's school lunch menu. Absolute shocking, but if there is nothing to report, then there's nothing to report, release the the relevant information through an RNS until something concrete to light. My average is about 2.75p so im down a fair bit.
Like lots of others im trying to find positives amid all the chaos that has ensued since yesterday's RNS. Difficult i know when sentiment is running high. Having read most of the posts since yesterday i thought i would post me two pence worth.
'announces that its non-binding Cole Creek JV Letter of Intent has been terminated and no further discussions are planned at this stage'
I can only guess the terms of the agreement were not suitable to the parties involved, namely COPL, but we dont know the real reason so can only speculate.
Who's to say there arent other talks going on behind the scenes with other major players? NDA's mean they cant say too much.
Yes, the share price has tanked, this was to be expected with the LOI being terminated.
As others have pointed out, the assets havent disappeared overnight, the oil is still there, the Carbon Capture is still there, the US is keen to produce its own oil as opposed to relying on foreign imports.
Does anyone really believe COPL bod dont have a back up plan? someone else waiting in the wings? or back to the drawing board with new terms and conditions.
I know at the moment its looking like a death spiral and we are all in the red, but we never know what the future holds and where this will be in 12 months time.
We can only speculate. The only thing that worries me is dilution and issuing of more shares, which will make my current pot worth even less.
Hang in there guys. I just hope Charles Archer is correct.
https://investingstrategy.co.uk/stock-tips/copl-shares-a-brief-look-at-the-value-disconnect/