Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
A theory is JV suspension was done by COPL not JV partner.
COPL knew they were no longer an oil production and exportation company , but a finance one, owning some questionable assets . Makes no sense to have a JV in that case because what can COPL contribute
It makes sense to sell and get the highest price possible. Dont think PIs will see much or anything
"no plan to raise assets"
no plan to raise production
Yes they have started the sale process of company assets.. There is no plan to raise assets
I think this equity raising wont be used for production , they just said working capital.. I assume it means an operating company can attract a higher sale price on assets as opposed to being in administration . Or the senior lenders have better control over the process
Maybe this 2.5 million will be recycled somehow
"Meanwhile, I think I will take a few more for the longer term pot if we revisit circa 78p. GLA."
If we revisit 85p I would also take some for the short term pot ..... :-)
Mcadder
"It's almost unbelievable to think that even those buying in at about 0.40 last week when there was a false rise are now 60% down in just a few days.
60p+ down to 0.165p and Arthur had the nerve to call us all unsophisticated investor's LOL"
Last weeks buyers were unsophisticated ...
Leew: Doubt it’s pressure relate lad as they never got the pressure up. It was producing 2500 with an inadequate pressure gathering system and waxing so that is not the only reason for being at 1080bopd.
they did get high pressures but the excess gas had to be flared.. The GGS is a high pressure gas recovery system , though HDPE pipes are also used extensively for gas pipe networks. HDPE can take high pressures if its specified properly. . I'm beginning to to have my doubts about that - maybe it was displacement activity, kicking the can down the road.
Parafin waxing is a problem - COPL has released pictures . If there is a problem with production its due to this issue IMO
Probably paraffin wax clogging up the pipes with more gas pressure ..
Now we get a comedy show ...
Yes it is curious because COPLholder is mocking some of the "rampers" going on about a billion barrel discovery... But there was evidence to suggest that could be true . Of course rampers can underestimate the difficulty in getting that out of the ground which is a different thing. Somebody at some point will do it , unless we don't need oil anymore
Sorry thats from Nov 22
https://www.lse.co.uk/rns/COPL/operations-and-corporate-objectives-update-0priqecfn7mrm5c.html
Well I remember saying a few days ago that the injected gas was disappearing ,and this RNS possibly suggests that is possibly true. Which possibly means that the reservoir was larger than anticipated. That was when COPL released informative updates
Also the stratigraphic trap in the Dakota, Frontier 2 and Frontier 1 Formations does suggest that there is lots of oil present. Its not a fraud because this is classical oil reservoir formation geology .. To say that there wasn't a billion barrel discovery is wrong - this is not some minor reservoir from all appearances
I think this is a case of running out of money because of technical difficulties and bad management . All oil discoveries don't get developed because of there are easier ones to work on . Its possible that Art simply oversold this and himself which in case he should have taken a JV on their terms. The JV might not have gone anywhere because of technical difficulties but that's another story Which doesn't help us now ....
There might be a dip below 85p but the momentum is strong with this one
Wonder if Tuburn s related to Abderdeenman, a similar personality who graced this forum.. That's when COPL moved into Nigeria
Bold : "I expect the regulators to investigate"
can shareholders block sale the assets ? Lenders will get first claim but can any investigation put a freeze on the whole thing? At some point a big corp will want to buy it out but it will be a long process
Tiburn come across as a corporate dude who sells a project and moves on before e the *sh*t hits the fan .. That's the path to success for many a politician as well :-)
I kind of agree with COPL holder - shareholders are bald men fighting over a comb. Unless we get some insight into production, this isn't worth anything.. The financial backers may have taken some illegal measures but it still seems the cupboard is bare.. What are people expecting - a giant corporation who you can take to court?
The accountant: 137p
I do think Cosmens have been buying a while and bought at much higher as well , they aren't just buying the dip..
Hindy: I agree 23% stake holding gets you nowhere in terms of running the company, setting strategy etc.. I think they are going to acquire a much larger interest
Lol been in and out of COPL for years. Its like playing with a revolver - made good profits in the past but this time not good. Looks like the end game . Oddly enough staring at a bigger paper loss in this company vs COPL .
So much for FT250
"This will be my last investment in anything other than the ftse100."
you'll be back :-) . People invest in these stocks because its an intellectual challenge, or perceived to be on.. It also egotistical to invest in AIM
Using 2 companies is interesting - you basically get to accumulate 5.999 % without having to make a TR1
"who else would come in now!!!!"
Cowans job was to increase production by running the GGS system . He's gone because that doesn't seem to work and there isn't need for another CEO production manager
So when did Anavio conclude this was all a failure??.. Or did they get bored and decide to sell the assets and dispense with production