Member Info for Isthisawinner

Dacron.....and the previous owner forgot to tell you it was built over a massive sinkhole...lol
I'm off to work, have a good one people..gla

Charlie, paper never refuses ink !!, its all well and good saying their objectives but with Copl so far it's been one step forward and two steps back. I didn't see any mention in their 2022 objectives that we would try to dilute the companies shares into oblivion, because they should have, as they've hit that target with no issues...gla

I have to agree with Anguss, firstly if the find is so mega, it would have been leaked and bigger players would be piling in now at this ridiculous sp, Art has said himself, that he is going to have to do an interview to explain the report as we will have trouble understanding it !!!. Cuda came and went, what about the confidential well ? why can't he tell us zbout that now ?..........all that's going to get this sp moving is a massive increase in oil output..gla

Still nobody suspicious about what I was referring to in my first post ????
Well, gonna bring it up anyway !!!
Well I was a bit taken back by the way he slipped in that we had an uncontrolled blow out on one of the wells and it cost us a bit to put right.....I thought something like that should have had a bit more detail attached..
Anyway, it's done now....hopefully a lesson learnt...gla

I was expecting them to be bad but I thought they would hit the sp harder in their game play. (They may yet on Monday)
Can't believe nobody picked up on a comment that Art made in his recent interview, which I presume added to the decline in our output and which I thought was quite serious.
Anyway, all behind us now the only way is up...gla

By its holding is Mast alone....gla

Talk of being here till 2024/2025, well that won't happen. All efforts will be to drill new wells and increase production along
with our big discovery, we then will be sold to the highest bidder sometime next year....just my take on things.

They know the bigger picture and are happy to put their dough in now prior to the big re-rate, this is how they make their millions. Copl must have cash by the bucket load atm and the plan now will be go full in extracting the oil...watch this space...gla

Art says production increase from August, so are we expecting lower output figures for June and another attack on the sp...
Come on financiers ffs, you've taken most of the meat, at least leave us the bones to fight over.

Elaborate ???

Agree the fees seem excessive, but don't forget this is an "unsecured"loan and therefore higher risk attached, hence a higher premium.
As I've did earlier, this leaves the assets free and therefore better chances of getting a cheaper RL...gla

Compared to the bridging loan, see the bridging loan details below and there was no way we could have repaid it within the time frame...gla...blue Monday ahead

COPL has agreed and signed a non-binding Bridge Loan Term Sheet to finance the Cuda acquisition (the "Bridge Loan Funding"). The key terms of the Loan are as follows:



· US$ 20,000,000 drawdown.



· 12 months maturity ("Maturity Date").



· 12.5% interest per annum fixed coupon, payable on the Maturity Date (6 months).



· Convertible at a 25% premium to the placing price of the placing required as a CP for this Loan (the "Convert Price"). Upon the earlier of a default or the six-month anniversary of the Note, into the Company's newly-issued ordinary shares at a conversion price equal to 80% of the lowest daily VWAP of the Company's ordinary shares over the 10 trading days immediately preceding each conversion.



· 7% implementation fee deducted from proceeds.



· Two Year common share purchase warrants representing 50% of the Convertible Loan Drawdown will be issued to the Investor, exercisable at the Convert Price.



· Bullet repayment in cash together with outstanding interest on the Maturity Date.



· The Note will be secured by fixed and floating liens on all assets of the Company. COPL America Holding, Inc. will guaranty the Company's obligations under the Note, subject to the Investor and the Company's existing senior lender entering into mutually acceptable inter-creditor arrangements.



· Drawdown is conditional on entering into definitive documentation and customary closing conditions including, completion of due diligence, requisite approvals from COPL America Inc's Senior Lender, which are underway.

Gregorio..you were predicting 35 a couple of days ago, now 10
Would you mind posting your research that brought you to those conclusions..

I agree, but we have some breathing space, firstly 24 moths followed by 36 months ....if we're not pumping enough to cover these by then....we're f...cked, lol
Let's not forget, we will be out of our hedge by then too...gla

Read in between the lines, looks like we would have had an issue getting the RBL if the bridging loan backers had first call on the cuda asset, now the RBL will have first call on all the assets, thus making it an easier deal to put together

And a lot better than going down the bridging route, which needed repaying a lot sooner, with a bit of luck, the new wells will pump enough to allow us to pay of the debt before the need to convert...
Remember we have just "borrowed" the money to increase our percentage by nearly 50% and the additional increased is unhedged.
Also, now the assets are all under one roof making it easier to get a secured loan on the assets.
I'm under water here atm, but wouldn't hesitate buying more at this sp if I had the funds available ...gla

Ffs...go back under your stone...lol

Now we will have the CPR and boom..hla

Just a treeshake,gla

The bridging loan was a disaster...gla