placing was at 0.3p1 Dec 2020 11:38
yes, maybe not nice watching sp down BUT, large investors took stake during placing at 0.3p. some of the investors are our CEO closed "friends" and as such, i doubt Arthur want to screw these friends .
reality is, nothing has change from the fundamental point of view, apart from delay. i also invest in various other companies and yes, most of them experiencing delays.
yes, sp down as some PIs tired of waiting and chasing other rainbow (some may even bought LOGP yesterday and now losses!).
nevertheless, we will get news before Christmas is my take because flight restriction are removed from this week and all parties wants to conclude this asap especially on the rising oil price/
so, if you are in, then hold it and if you are watching, sp now is the bargain ! DYOR
extract from recent placing RNS/
Arthur Millholland, President and CEO, commented: "We are pleased with the outcome of this Placing and these new shareholders who are well known investors in the Oil and Gas E&P space, some of whom I have known more than 20 years. Following the Placing, Debt Exchange, and our recently announced financings, the Company is on firmer financial footing going forward. We continue to work with Essar to complete the legal documentation required to effect the OPL226 transaction as outlined in the agreement in principal announced in June 2020, and we anticipate concluding that documentation shortly. We thank our new shareholders for their support and confidence in the COPL Executive Team. The participants in the Debt Exchange are largely long-term employees and long-standing advisers and service providers to COPL."
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