Member Info for Gord_1

Staying in Zambia ?

So either this is porkies... or the ground and admin staff ( less than 10 I think) are sharing $4M over 9 months. :-)

5. The Board members have gained no benefit from the Fourth Anavio Financing and the Fifth Anavio Financing. COPL has not issued bonds to any of the directors who have not been compensated at all for their work in 2023. In fact, the Board has disclaimed any right to bonds. The Board's intention in September of last year (when the issue of bonds to directors was proposed) was to preserve liquidity at the Company which was a reasonable exercise of their business judgement and demonstrably beneficial to COPL.

I had a quick look into the Q3 Results ( most recent published ) ...a few observations

1) Revenue after hedge losses was $12M for nine months.

2) Salaries were $4M for nine months - a third of the revenue !

3) 3xDirectors Bonds were issued @ $0.6M. in Sept

4) Assets just over $100M but only lists plant and equipment?

5) Excluding the money from SL loans and bonds , they have taken over $100M + from equity placings over the years. I'm not sure how to calculate the exact total value as they include some expired warrants in the calculation. I could be as much as $200M

6) I don't see anything related to the $ value of the big discovery or the current production well ?

7) It states a figure of $416M for future P&D cost which I assume the actual oil asset is big ?

I think this is a scam on a massive scale and should be investigated by the Police Crime Squad Unit.

Lets not forget . AM was responsible for all of this. . ...Note from the RNS is states : "The Board was open to liquidity sources other than Anavio but in addition to being constrained by certain contractual commitments previously made to Anavio" .......These were made by AM so the current BOD from Sept were put in place to manage a mess created by one man.

IMO, I really don't think Cowan & Richardson had much of a deck of hands to play with, this is down to one man...AM, who has lied and deceived over the years for his own personal gain. Shocking behaviour from a human being with no remorse.

Criminal !

Technically I think we should be at 0.07 as the current SP has been calculated with 1.04B shares.....and 300M shares from last bond conversion have not been submitted yet and are being held back for some reason ? or am I missing something ?

Any idea why 300M shares are not included within the MC/SP calculation ?

It states 1.04B when the company states 1.34B ?

I remember that big overhyped announcement in Jan 22....it had a market and share consequence. We all believed it because it was announced from a company listed on the LSE. Shortly after this announcement, they awarded themselves millions of shares, even family members we included...and cashed in £M's. At the same time they were defaulting on terms with the SL and looking for more ways to raise money .....at whatever cost to the ordinary shareholders. To conclude , he was not bothered about what he said to manipulate the market , as long as he got his £M's, that was his goal.

Join the group and lets call this scam out.

PS... I know there are other companies on LSE/AIM who also behave badly and its an investors choice to win or loose....however a company who has apparently made one of the biggest Oil discoveries in the US in recent times to loose 99.7% of its share value within 2 years is excessive. You could not make it up !

Hi,

Where is the information on SEDAR ? Do you have a link.?

COPL still have ShoreCan on their accounts . £15M of placings spent on it during the last few years. .The following is an extract from 2022 Accounts.

During the year ended December 31, 2022, COPL and its subsidiaries charged ShoreCan management and

technical services of $0.2 million (2021 - $0.6 million) and charged an interest expense of $0.9 million (2021-

$0.4 million). As at December 31, 2022, the Company had non-current receivables of $15.4 million due from

ShoreCan under the terms of the funding agreement (December 31, 2021 - $14.3 million), which in accordance

with the equity method of accounting for the ShoreCan joint venture the charges for management and technical

services and interest expense were reversed from the Company's revenue and investment in the joint venture

£15M is a lot of money ...what for ? I think we all know :-)

If an investigation was done, the issue is that there are so many lies/issues, which ones should we focus in on or potentially investigate that has the ultimate payback. What is fraud/corruption......in my mind we should aim to highlight financial misconduct/misleading the market and then doing things which don't make sense. There are a lot of people suggesting that you should have done more research before investing, however this situation is extreme and I feel hugely conned by very devious individuals. Below is an example , AM stated after buying CUDA :

"Reserve Based Loan and Future Financing- The Company intends to structure such borrowing facilities at the COPL America affiliate level, which directly owns the Company's Wyoming Assets, using borrowing facilities that do not result in dilution to COPL's common share capital."

Also the "ShoreCan" venture. Approximately £15M + was taken in placings to develop it over the last few years , and money is still being used on this activity according to the accounts, but where has that project gone ? No updates or anything to justify the money taken.

Bonds being given to Directors , etc etc .

This corporate scam has loads of different threads to it. I would be happy to assist where ever I can to make sure those responsible are punished.

The company is still trading on LSE. For what reason ?

Investors were advised by the BOD that if production figures increased due to a number of well upgrades, the company would be able to overcome its financial hurdles in 2024. The BOD further stated that 2024 production guidance would be forthcoming by the end of 2023. This has not occurred.

We are however aware that in 2023 , production was impacted due to "downtime" at high productivity wells related to upgrades to improve production. Production figures remain stable at approximately 1,100 Bpd however there was an expectation that this would double given the investment in the upgrades. Investors are unclear if this downtime is temporary or permanent as guidance still has not been provided as planned. In parallel to the lack of guidance from the BOD, the bondholders have sold/diluted the SP to the extent of where it is today. The BOD have not reacted to this destruction of share value which is excessive. Many PI's have lost significant money due to the lack of accurate guidance from the BOD. It is unclear why the BOD cannot provide this guidance, and it is perceived that critical information that is share affecting is being withheld from Investors. If production has no ability to increase despite all the upgrades, this should be declared. If production has proven to rise from the upgrades then again this should be advised. This is no way a listed LSE company should operate by failing to inform the market of company and share affecting information.

It may be nothing ...but the company states 1.34B Issued...however only 1.04B are recognised for current calculations. ?

Does that mean the current SP should be diluted by a third approx?

Are there any LSE rules defining how low a company MC or SP can go before delisting ?

If another 1.3B are due from financing....then today it would take them over a 50% threshold, but if these additional 300M were recognised then it probably would not ?

The Bonds - Who owns them as they generated initially £25M in Bonds for Cuda but it only cost £19.7M. Has the BOD allocated Bonds to themselves?

Money - So many placings but little to show.- where has it been spent ?

Q3/Q4 Production - Flatlined at around 1100 - How many down days does this include for upgrades etc. ?

Forward Production - They said they would provide guidance - why not ? Are they trying to downplay figures so that they can take the assets privately at a cheap cost - I cant work out why they will not tell us why the production figures are still low despite all the money spent on upgrades.

The June Report highlights figures that include production downtime. The Q3/Q4 figures also include production downtime. The point is, if production downtime was eliminated , we would be seeing a lot higher than the reported figures. Its being supressed for what reason ?

Three conversions of BFSU flowing wells to pumping-flowing wells have been completed;

o Production from the first converted well in the program is up 110% from pre-conversion levels. The well was converted in mid-April, with stable production averaging 190 Bbl./d in the month of May, up from an average of 90 Bbl./d flowing excluding downtime periods pre-conversion.

o The second well is producing oil above pre-conversion levels but is not yet stable. Paraffin treatment schedules are being evaluated which are intended to bring stability along with enhanced production levels.

§ Both of the first two wells in the program experienced significant downtime in flowing configuration from Q3-2022 to Q2-2023 due to paraffin plugging. The conversions accompanied with scheduled paraffin treatment programs are intended to maximize production from these wells and eliminate production interruptions.

o Conversion operations on the third well were completed just days ago, with the well returning to production on May 31.

· Oil production is increasing from the well conversions and the resumption of the Company's production optimization program after weather-related disruptions in Q1-2023.

o April 2023 average gross production: 1,170 Bbl./d

o May 2023 average gross production:1,330 Bbl./d

o April and May production includes production downtime as COPL America undertakes well conversions to pumping-flowing, wellhead upgrades and paraffin remediation treatments. Production is expected to increase from these wells following these conversions and proactive paraffin treatments.

1) in q2, oil production was increasing after 3 wells were converted. 1250bbd but this included production downtime for upgrades and maintenance, thus could have been much higher. one well was even reported to double in production after the conversion.

2) am was then pushed aside by a new chairman and ceo as part of of a new finance deal and cost cutting exercise. apparently £2-3m in contracts were terminated so at that point who was ****ed off ?

3) the gas injection program caused production delays and no data has been received to suggest if its been successful or not.

4) production over the last few months has not been reported to the potential we expected because it has been calculated to include down time days to cater for upgrades etc.

5) jc resigned as he was probably given a crap hand to play with ( contract terminations etc)

6) am possibly realises the potential of the wells if production days were increased.

i do not know who is behind this...the new chairman or am or both ? but imo the assets are worth a lot more than they are trying to portray/position to the market. they have not released an accurate report highlighting the actual number of production days to get to this point, and the full production potential if "x" was fixed/adopted. i believe this is part of the scam to steal the assets. thoughts on whether the bh is also part of this?

Over how many days of operation? Did the Gas injection work? If not, why not? Storage/Transportation issues?

Clearly IMO production has been flatlined for some reason? , to ensure that we are led to believe that the current crisis is because of this and the JVP failure. I suspect this has been manipulated to take it private/into the hands of the JVP. If they had reported production at 2000+ bopd, the SP would have risen thus they would find it difficult to take the current actions at such a low price. Is there any way of getting daily production data with/without Gas injection, operating facilities etc, to determine if we have been deceived ?

10 years of the same bull from JA.......with £M's taken from him from PI's . No Rig , No licence and No money to drill.

IMO the buys are being manipulated by JA and his buddies to raise the SP , then sold down........ don't get caught in this trap !

Https://investingstrategy.co.uk/financial-news/is-the-aim-market-an-unregulated-mess/

And to add....they don't have 3 licences anymore.....very deceitful RNS

The proposed Subscription is being made to fund working capital and work programme commitments in all three of the Company's licenses over the coming months,