Member Info for Jiving

I agree Groover and I have just reported yet another insulting pointless post from him. He is disrupting the board at a crucial time for genuine shareholders & adds nothing but gibberish & insults.

Cahus take no notice of the clown Suhail. He is a pump & dump merchant who frequently misjudges trades out of ignorance about what he is buying. For him to mock anybody about lack of knowledge about COPL is laughable & ridiculous.

We are here because the long awaited financing for OPL226 is in its very final stages with a number of counter-parties. Fortunately those involved are all oil industry professionals, so whilst the oil price collapse may change the arithmetic it will not hopefully ultimately stop the financing taking place. Developing a major offshore oilfield with perhaps a 30+ year life is not entirely subject to short term oil price volatility, if it was there would be very few oil fields developed.

China down to 43 new cases, & S Korea which had a massive problem, now down to 69 cases. The fall off is faster than many would have expected.

I am with you on that one Sub, this is akin to a flash crash. The sooner we get a mild Spring the sooner the virus is stopped in its tracks. Thailand has one of the highest number of Chinese tourists in the world - around a million a month in January, 50k+ directly from Wuhan itself - but have one of the lowest Covid-19 infection rates overall & per 1m population. The temp is 35c in Bangkok & the virus simply does not survive outside infected people for more than a few seconds.

Nobody is holding the price someone got into the share "against them" - in every share in history people have got in at different prices. Why people take offence at a moron like Suhail is because he is a gobby, immature brat who hurls abuse around freely whilst contributing absolutely zero to any discussion because he knows virtually nothing about the company, its history and its prospects.

NoEasy, the rationale for not dealing with one overall provider of finance (like Schlumberger) but breaking it into smaller components came from the man himself.

NoEasy & Bolton. I gather that the deal Arthur is putting together is actually more complicated than a 'normal' one of the type NNPC and First E & P did with Schlumberger to finance the neighbouring Anyala & Madu fields. The reason for this is that if you hand over everything to one single company you effectively hand over control & the most of the financial gain. If you break the overall financing down into separate smaller components & effectively sub-contract it out in theory the operator/owners Shorecan get to keep a higher % of the overall pie. This was the reason the so-called back-end finance was done via Trafigura & Bank Mauritius 18 months ago. Now Arthur is trying to put together the rest of the project finance for OPL226, plus in addition the finance necessary for COPL/Shorecan to meet their financial contribution. Necessarily this more complicated structure is taking longer to put together due to the need to get all parties in line, but will hopefully lead to less dilution of the financial gain from OPL226 than a simpler structure.

Indeed thats low size on the ask. That would presumably get snapped up quickly when people want exposure - they have a choice of catching 0.5c (0.29p) or paying 1c (0.58p).

BTW we are theoretically due another monthly CSE report by the end of this month. Be interesting to see if that is also delayed.

And also Bob, it raises the question of why Kola flew into Singapore in such circumstances in the first place. Of course he has many business interest, some of which might take him there, but also it is a key Asian rig hub. It is possible he was progressing rig hire at a high level whilst Arthur moved ahead with finance. Both Shoreline & COPL have few 'big figures' so basically Arthur & Kola have to play that role when the other is engaged elsewhere.

CN100 - yes Arthur is in London he has confirmed that to someone he is regular contact with. So both Arthur & Kola are in town, Kola having come from Singapore . Singapore is suffering quite heavily from corona at the moment & some countries are stopping flights & limiting entry to Singapore passengers - to visit under those circumstances suggest to me it must have been a high priority trip.

I clicked through to the link that Aim helpfully provided on the NXP002 patent & was amazed to see its potential uses outside of fibrotic treatment, this caught my eye:
"It has been reported that tranilast has the ability to induce or enhance neurogenesis and, therefore, could be used as an agent to treat neuronal conditions such as .... multiple sclerosis, amyotrophic lateral sclerosis, Alzheimer'"'"'s disease..."

Bolton should we ever reach the happy level of 19p I suspect you might not be the only one heading for the exit. But who knows by then POO may have rocketed, there might be talk of a takeover, we might be talking 30+p a share a couple of months out. OK enough fantasy investing for today, lets aim for 1.67p+ by end March!

I dont blame you wanting to sell Bolton when you hit your original buy price. But I fear you will miss out on the potentially big rise ahead, as OPL226 becomes fully developed with multiple rigs. IMO we LTH have suffered all the pain, it is right to sit back & enjoy the next couple of years gain. If, if, all goes according to plan we 'could' be looking at something like 20p in a couple of years!

His tweet began: "I arrived London this morning from Singapore ..."
About a year ago when we were told a rig was being prepared for a drill, we were indirectly told it would be hired in Asia , quickly altered in S Africa & end up in Nigeria. We also discussed that maybe the rig would come from Singapore where big players like Borr Drilling keep rigs. I note they have 6 active rigs in Nigeria alone & also have rigs awaiting hire in Singapore. Borr fleet status report from November 2019: https://borrdrilling.com/wp-content/uploads/2019/11/b8a5635dabbe2e51.pdf

Well spotted MK. If you look at the big oil finance signing deals all the principals are usually present - of course its a big occasion & publicity = free promotion. They could also be finalising final points with the new strategic partner (s), or even both! This was the Anyalu signing ceremony in London in 2018: https://www.vanguardngr.com/2018/07/nnpc-first-ep-jv-finalize-724m-schlumberger-oil-finance-deal/

2020zioc - again read what I write - I am discussing the physical iron ore coming onto the international market once the mine has been bought & the quickest/easiest route to the coast has been built. Hence:
"Zanaga iron ore, even under the most optimistic circumstances, is not going to be coming on to the market for either side of 3 years, ..."

2020zioc - read what I write - I obviously expect it to be bought out AND thats my point, see:
"Its not 'if' its going to be bought out but 'when' and 'how much'."

Zanaga iron ore, even under the most optimistic circumstances, is not going to be coming on to the market for either side of 3 years, likely Chinese & Australian bidders don't make long term planning decisions based around the latest virus scare. This is the last remaining 'available' Top 10 iron ore deposit on the planet now Simandou has been snapped up. Its not 'if' its going to be bought out but 'when' and 'how much'.

First trade for nearly a week.

What a sick joke the pump & dump king just set out 'rules for investors'. Yet he has just pumped a stock LWRF that is now de-listed so he cant dump it. Maybe that should be Rule No 1 for pump & dump merchants - don't pump delisted shares!

Bob, afraid you offended his macho trader image suggesting Suhail is a girls name from the Dominican Republic. Still you won a ban, well done join the crowd!