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BigB its quite the same ..... PANR have a billionairre investor who bought 3.5mill of equity so PANR could pay the quarterly bond interest rather than pay the BH's in vwap shares.
Copl on the other hand have negotiated yet another terrible finance deal in that the minor Bondholdersa (that had no intention of holding to maturity) can short the stock, convert, get paid the lost interest in vwap shares and cover their short. Double bubble for them.
The silver lining now is they are almost out of bonds to convert.
Does anyone have the well names that got linked to GGS ... they were posted on here several hundred posts ago
Start checking WOGCC from tomorrow for August numbers being released.
IMO needs to be at least 45k for the month to show the GGS has started to work. There are 3 or 4 Big producing wells that need to be brought back up to flow rates we haven't seen from them for over a year
No point getting into a us vs them discussion, PANR are 3-5 years behind where copl are in field development and its going to cost them a LOT more to get that oil out of Alaska than copl in Wyoming .... they are just the darling share of the moment.
Plus Id be wary of PANR numbers as they quote "Marketable Liquids" which is only about 1/3 actual oil.
I think you mean resources, not reserves = BIG difference. ...and I believe PANR resource is only about 960mill
Everyone selling everywhere to jump on the PANR bandwagon :(
But that will end and then people will look for the next big riser ... which should be copl ... one day Rodney, one day
See they keep saying JV but I find it a little strange that the SL an Anavio are prepared to support copl to such an extent on a JV for Cole Creek ?
CC is underdeveloped compared to copl's other areas .... so what is the JV really? any JV copl are going to have to stump up cash, which they dont have so is it more likely a farm out with a large cash settlement from the Oil Major or a complete buy out (the average age of copl directors is 64)
Shouston strange posting by you on the warrants.
Those warrants arent issued until tge 3.5m equity raise is complete (this month).
Only Anavio are putting up tge 3.5m, tgeresno bonds and no minority parties involved ..
Seems like they finally realised the junior BHs will just convert and take the vwap interest payment in shares so the can naked short.
Anyone know how many of these shizzters are left ? I gave up trying to track the bonds with multiple restructuring everytime copl needed more money.
At least there are no new ones from the last raise.
All very exciting over on PANR ..... however note similarities to COPL at Jan 2022 when Art was falling off his chair after realising they had a 1.6billion barrel resource and the SP jumped to 40pence !!!
PANR mcap today 280 mill but they don't produce yet, and they are in Alaska and they dont have the funds to start production ... already saying they will need 120millio to get started.
COPL mcap 20mill, already producing, in Powder River same size confirmed resource, same number shares .
???? doesnt make sense right ???
Not going to happen ...you had your news on the 6th Sept.... looks like they are doing ops updates/some news end of first week of each month. With the temporary CEO and chairman not likely to feel the need to do anything extra especially with Senior Bond holder now calling the shots.
Outside chance we might get August prod on WOGCC this week, I think June was out on the 20th and july was early as well.
I'd expect an Ops update in 3 weeks time talking about Aug prod and Sept bopd based on GGS and Gas injections restarting and maybe just maybe the next phase of GGS. I'm not expecting any JV news until it actually happens now.
Of course we could just get a complete bolt from the blue and find we are being bought out :)
The moment we get any reasonable buyingBHs drop another couple of mill in like a bad stink.
Anyone know if jber are sat on the pot again as its them that have the BH shares IMO
Considering the last funding was to take us "into Q1 2024" then I'd expect the JVP has been given at least 6 months to sign.
Bit ridiculous considering it will then be almost 18 months since they showed interest
Theres very few of them left now 5 I think. Can't see how they are shorting at 3p as there strike price on bonds is 3.2p.
Its the conversion of the interest payments that has killed us ... terrible deal by Art and Ryan ... I presume they never thought that the minor bondholders would just convert and dump their shares on the market - free profit for them.
The problem Mangrove now have is as soon as they start to close their short people will jump in knowing the SP is going to rise further/faster.
14 million shares short they are now !! of which I estimate 9 million since 1sep currently all in a loss
The 1% Mangrove have shorted in Sept they wont be in profit though
Shouston i think you have misread the WOGCC statement. August is due on or before last day of Sep but some will not send until mid Oct.
COPL are usually last day of next month so end of Sep; but lately have been a bit earlier i.e. 20th.
Large buy being worked in background?
Really ??? Because they are infallible in their investment/shorting decisions then ? WOW must be the best company in the WORLD
Friday was the 8th mate... so they dint increase on Friday or decrease