Member Info for Jiff

Apologies, checked my SIPP account yesterday, looking at selling a few today to put in FAR but held off with the drop. GLA

The RNS reads to me as though the 2024 bonds have been reset lower? As only 2025 repeatedly mentioned, also that the majority of 2025 holders agreed, not all? I broke even yesterday, so now slightly down awaiting big ticket news.

The possible JV funding partner is looking at the new discovery, not our other assets.

I had an 88e experience too, luckily recovered it on the last spike. COPL is not AIM listed though, so am confident all will be well, hopefully some news before Xmas.

Apologies, not COPL site, CSE site for copl form 7. I have a download from yesterday.
https://thecse.com/en/listings/oil-and-gas/canadian-overseas-petroleum-limited
Under CSE filings.

Beesty,
On 2nd Dec the company reported the Nov monthly report, stating no JV currently agreed, it does not allow for forward looking statements regards possible future outcomes. Located on the copl website. I did not see it noted here but may have missed it if reported by others.
AM has said comms will be better and yet again failed us in this regard, IMO. Do the PR/IR team need replacing, maybe, but that still falls at his feet to arrange.

Is the CR a bad sign for upcoming drill results? If they expect great results, raise after them...if poor raise now...
...only my opinion, still holding long term.

Some good positives in there:
JV, 6 work overs at CC, refinancing ongoing etc.
Some negatives,IMO:
Don't expect high production increases yet, not one mention of 'RBL', only refinancing? I hope 'RBL' is specifically written in the RNS update tomorrow.

RNS out for engagement of German energy advisor, mentioning EU grants etc.

Apologies Ticor

Thanks To or.
I take it we must close out the bonds before 12 months is up then, or the issue price will be 13.25p??
Taken from 'The Bonds have a conversion price of £0.1675 ($0.2001) per Common Share,
which is subject to adjustments including a reset to £0.1325 ($0.1583) if, among other things, an RBL is not
secured five months from the issue date, or on the twelfth month anniversary of the issue date of the Bonds.

I thought it had both positives and negatives. If held in a SIPP and you have time, the royalty could really help CRCL but not short term. $1.5M carry is good right now and hopefully Licence will come soon enough. Also CRCL would not have to fund the mine once listed in Singapore and being a shareholder only. IMO. My question, if they hold a Q &A would be what %age do CRCL expect to hold after listing in Singapore? They must have discussed it. Even an estimated %age as both parties cannot hold 50% each...

If payments are made from a US bank/stock holder, such as dividends, the W8-BEN form will prevent tax being withheld prior to you receiving payment. I have received US dividends for 20 years. The business is in Wyoming. IMO

Agreed duster, the $100M was a low ball offer to state the point. Maybe a phased payment as the field is proven up before the JV partner buys us out. Remember, the extra $$$ will develop our own field too...

A leak? We are currently looking at a JV for the Deeps, yet no leak. How much would a large oiler pay for 50% of 1.6-1.9 Billion barrels or 200M+ barrels recoverable? $100M minimum?

If the JV pays around $100M for 50% of the deeps we could be debt free with no hedge, producing 2000+ barrels/day and letting the JV partner develop the deeps at their cost. Boom, if Carlsberg did JVs...
...but very possible, IMO.

Wwal17, thanks for the clarification. 5 months looks fine, Art stated term sheets shortly and closure by year end which fits in with the dates.
Cheers, Jiff.

Was there not a rule about RBL being set up by a deadline date or the bond holders get shares at 13.5p instead of 16.5p? If 3 months, then that date is fast approaching.

New interview link on twitter.
https://twitter.com/zenithenergyltd/status/1577939060601098240?t=DA5qyQI4JoxqgQKeBxM1rw&s=19

ANGS released an RNS today about director changes, so maybe COPL will release one about RBL this afternoon? Maybe...