George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Ad nauseam - is two words BTW! If you look at my posting history, you will see that the vast majority of my comments are positive. However, the reality is that the SP is at 2.8p & the company was close to a credit default. The JV & GGS updating should turn the company's fortunes around, however there are NO guarantees. I am truly hoping that the LOI holds firm, although it is NOT legally binding. The CEO has been conspicuous by his absence, & you have to ask yourself why he choose to remain silent, given the 90% downturn in the SP since the company came out of suspension.
Those are the facts, & it is up to the investor how they choose to interpret them.
Hi Tiburn!
I have sold the Armstrong/Oil Search several times on this BB - this deal took place in 2017, when I was heavily invested in 88E. Considering Oil Search were invested purely in LNG & only in Papua New Guinea, they took a considerable risk by investing in Alaska's oil fields. As you said, the deal was shrouded in secrecy & took around nine months to complete. They paid $400M for 500K barrels of oil. POO was $50 a barrel.
COPL's assets are
Goldbar2 - are you related to fooldgold? yet another naysaying dipstick, with nothing factual or research based to say! We have just had some news FFS, relating to the dawning of a new CEO. Like everyone else here,I am waiting for the signed JV with a "respected industry leader", updated production figures & a probable name change in the near future. We cannot be bought out unless shareholders agree, so that is unlikely unless the offer is around 50p.
GLTA genuine investors - NOT you obviously!
Signed six weeks ago, & confidentiality agreement from October 2022 - JV imminent IMHO!
"COPL and an established energy company ("JVCo") have entered into an LOI for the negotiation of definitive agreement(s) for a Joint Venture (the "JV") to develop and exploit its oil reserves and resources at its Cole Creek project in Converse and Natrona Counties Wyoming. The LOI grants exclusivity to JVCo for a period of time to allow for the negotiation of terms, and structure of the JV to be agreed, which include the consents required by COPLA. The LOI is subject to confidentiality provisions in a Confidentiality Agreement entered into by COPLA and JVCo in October 2022. These confidentiality provisions will terminate concurrently with the exclusivity termination, and other contractual conditions. The contemplated JV does not include the Company's Barron Flats Shannon miscible flood EOR project."