Member Info for Funkybeats

A no what ur saying. As said I went right into it in detail to see if I had missed something out. At least we now know that it’s not going to be in the next 48 days like it was being made out to be. I would rather have that clarity now and that was reason I went into that much detail as I did.

Another chance to top up. Fuk the MMs. Play u at ur own game 👍 will be better when ur trying to buy them back of me at higher price in a few years. I can wait for my pay day

Hi Jay. Also got that response. Most likely now QTR 1. She mentioned I was the second person to ask this so I let her know that it was due to our conversations on LSE.

Pijoe1212 #copl i read on the lse BB (home to morons..evening pbob etal) that drilling will be Q4 2018, as the co has not said otherwise..really drilling q4 2018...anyone else seen them flying pigs? $25M Essar Performance bond "v" $16M copl/ shorecan expenditure....um #nofuckinghope

Interesting when u read his tweets and compare them to a certain individual on twitter they are both saying the same stuff. He’s obviously clever enough to log out and reply to himself lol

I have managed to average down from 9p to 5.4p. I will be buying more as long in coming weeks too. To get my average down to around 4.5p. When u consider LJ has his options st 6p I recon I will do just fine out of this share

I honestly don’t get it? Why would u sell at this price. Risk b reward. Some of the sells going through for a couple of hundred quid and probably making a loss. Amazes me why some people invest.

The strategy seems to be getting perfectly executed.

15 August :- Securing a 'significantly larger' financing package for Nigeria appraisal and development programmes remains the main priority for COPL.

9 November :- Canadian Overseas Petroleum in talks with large oil service provider. Not only are they offering the provision of services, but also financing.

2018 lads. Am telling u.

Canadian Overseas Petroleum in talks with large oil service provider.

This level of interest reaffirms our long-term view that OPL226 is an attractive opportunity with significant upside potential”

We are delighted to have been approached by another large oil service provider, which is very familiar with the region,” said Arthur Millholland, COPL chief executive.

“Not only are they offering the provision of services, but also financing. This level of interest reaffirms our long-term view that OPL226 is an attractive opportunity with significant upside potential.”

Millholland added: "As for the Essar dispute, widely discussed by our shareholders, we continue to stand firm that it has no merit as the 60-day actionable period has lapsed. ShoreCan and its 80%-owned Essar Nigeria partner are successfully advancing its financing and operational activities in Nigeria."

COPL ‘very pleased’ with financing progress for Nigeria venture.

Securing a 'significantly larger' financing package for Nigeria appraisal and development programmes remains the main priority for COPL.

“As shareholders can see, the financing package we are working on is significantly larger than we initially set out to complete − thus requires more participants while at the same time expanding and accelerating our development well planning.

“Submission of this expanded program on OPL 226 to the Concessionaire NNPC is expected to occur in the near term.

“Concurrently, we are working on the credit facility's conditions which include a binding agreement and also are engaged in late-stage discussions with an offshore oil services group for the provision of the required offshore services for a deferred fee.”

Drilling at OPL 226 will be ‘somewhat delayed’ whilst funding is awaited and whilst the Essar regulatory processes are complete.

So they announce again delay on drilling.

The block lies 30 miles offshore in 150ft of water in the Central Nigerian delta, where five wells historially were sunk - three hitting oil and gas and two hitting gas

I like this bit. Tells u this will already have been done seeing how it’s 14 months since
Operationally, plans are advanced with drilling locations finalised, well design on track, and discussions with rig contractors in train.

In terms of financing, which also needs to be finalised, investment bankers Cofarco and Zeus Capital are in talks with a number of oil traders, merchant banks and SERVICE PROVIDERS.

Xtra thanks for that. I am like most on here. I ain’t in this was a quick 5%. I am obviously underwater by some on this share but I do expect in the next year or 2 to be sitting on a healthy profit with me having the option to sell my shares at 50p or upwards of that number. This share is about one thing for me. Investing and making money.

Panama. Honestly I wouldn’t have bought 4.3m of these if I didn’t have confidence. I do think we have been shafted with timescales in the past and that’s resulted in additional dilution But those have always been notified to us in RNS “about the company”. There certainly is a pattern emerging when it comes to timescales. If there was going to be a delay they would already know about it and it would have been RNS in the Q3 results like previously. The fact it wasn’t is a clear hint that we will be drilling in the timescales. Remember 28 days to drill and this has been in the making for 4 plus years. Plans and everything will have already been taking care of. I might be wrong but I am going with past history and to me that’s a very good indicator.

12 June 2017 Drilling of the first appraisal well is planned to commence in late 2017

We then move from late 2017 to early 2018 As below.

11 August 2017 Drilling of the first appraisal well is planned to commence in late 2017 or early 2018.

We then move from late 2017 to early 2018 Back to late 2017 as below.

27 September 2017 Drilling of the first appraisal well is planned to commence in late 2017.

Still on track for 2017?

16 October 2017 Drilling of the first appraisal well is planned to commence in late 2017

Still on track for 2017?

13 November 2017 QTR 3 2017 RESULTS Drilling of the first appraisal well is planned to commence in early 2018

We now have a change of date

23 March 2018 Drilling of the first appraisal well is planned to commence in 2018 (not early 2018) just 2018

Every RNS after this date stipulates 2018 including the most recent one which is 9 November 2018 QT3 RESULTS 2018. They had the chance to amend this date like they did last year and state early 2019 but they didn’t. This leads me to believe that they are going to drill this within the next 48 days.

NOW what’s interesting is if you go back to timescales for Liberia. Everything Arthur said in 2016 came true. Drilling by late 2016. Then on 23 November we had the rig and drilling commences RNS out of the blue. I fully expect history to repeat itself and this time we will have success with this appraisal

Would love those figures to be true but we both know £12m-£18m won’t be achieved at present time

So if that’s the case why is COPL once again misleading us shareholders ?

Got to remember they had been working on this deal since Quarter 1 2014. Would expect everything to fall in place immenintly

As said previously in my post. Arthur has had ample opportunities to change the date for drilling. He has done so on number of occasions. He had the chance to do it in the last RNS but opted not to. As far as I am concerned he will lose all credibility if this doesn’t happen now that these timescales have been broken down for all to see. I fully expect our CEO to stick to what he has said on numerous RNS. Nigeria will be drilled in Quarter 4.

Correct. Ave been averaging down for a year. I hold just under 4.3m of these little fukers. This time next year Rodney lol

APRIL 2016 - Arthur Millholland states the plan was always to drill Liberia in the 4th quarter. https://www.oilcapital.com/companies/stocktube/4941/copl-chief-targeting-drilling-in-liberia-by-years-end-4941.html What happened. He drilled it in the 4th quarter Albeight it wasn’t successful.