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Brady. This was the comment in the 31 August RNS on TSE:

"In addition, the Company is pleased to announce that we have chosen to forgo an imminent share consolidation that has been required by the TSX Venture Exchange in accordance with its rules prohibiting share issuances for less than $0.05 per share. Instead, the Company intends to delist from the TSX Venture Exchange and apply for a listing on the CSE Exchange where there is more lenience concerning consolidations and lower costs generally. The CSE was recognized as a stock exchange by the Ontario Securities Commission in 2004 and has experienced dramatic growth in listings ever since. Â The timing for the switch is expected to be sometime this fall, subject to the receipt of all necessary approvals."

NoEasy. I read that 'released' as being the date the RNS was released with the financing news. This type of finance would surely be contingent on the SPA being agreed first & both presumably dependent on NNPC final approval. The issue of the $3m warrant issue that is part of the transaction is no small matter and the level of the share price when the financing closes is critical.

Consider the effect if it were priced now, COPL = 0.26p = 0.34c (@$1.31); the RNS states the warrants will be exercisable at market price, which at that level $3m of warrants = 882m new shares. As well as massively diluting us all yet again, such an issue (when exercised) would give the two lenders 26.7% of the enlarged share capital, which would also have reporting/regulatory implications. When this deal closes (ie at which stage in what we all hope/pray/dream is part of a positive news cycle) is when the warrants will be priced and as above the level of COPL share price is actually pretty important to all concerned, and most certainly must lead to an RNS detailing the warrant terms. Lets hope it actually closes post SPA, & NNPC and COPL is 2-3p, which then dramatically changes the warrant terms & the dilutive effect it has on all of us.

Didn't Dan say 30 days post RNS for money to appear? Actual payment must deserve an RNS. All these stages are important and we shareholders are having a rocky time with the share price. (As a long term holder not a prob but never feels good to be under)

Rift. Absolutely our focus needs to be on the SPA and what is holding it up, most likely the resolution of the EM issue which itself is subject to a 9 October deadline. We need guidance from the company preferably.

Agamore - my view is moved by the seeming near consensus arguments here that this is a basically a bluff, hope to God it is!

NoEasy. You mention .."The Bank of Mauritius/Trafigura money was agreed and paid into escrow ($50m).." Have I missed this as the original RNS suggested (as below) that when the facility closed the warrants would be priced. $3m of warrants being issued would certainly generate an RNS. From 30 July RNS:

"Other material terms of the proposed Facility include the following: Two-year term to maturity; and a grant to the lenders of US$3 million worth of warrants to purchase COPL common shares for two years with an exercise price equal to the market price of the COPL common shares on the date of closing of the Facility."

Rift 16.27. Of course Arthur had been talking to the broker months before the placing, the only person who could not work out simple arithmetic i.e cash divided by monthly outgoings was you - as I pointed out repeatedly to you at the time. Arthur tried to get rid of the disputes in the text of an MDA (& get off the disclosure hook) simply because most people would not read it or realise how destructive it was (myself included/deluded BTW). But due to the worsening of the conflict with EM - ie perhaps due to their threatening letter regarding the shareholder agreement with a 9 October ultimatum he had to issue an RNS.

Rift. You really have absolutely no clue. The only reason Arthur disclosed anything about Agamore & EM in the MDA was because the placing broker had to disclose those issues, if they had not disclosed them every sucker they put into the pump & dump would have prosecuted. (IMO they still should) Arthur never discloses a 'negative/actually a reality' voluntarily but only when forced.

People say Agamore is a non-issue but only based on 'Arthur's word' yet why has no judge yet dismissed it, perhaps because there is a case to answer? Why would there not be a case, Essar has been in financial difficulty for some time, they & they alone were responsible for the contract with Agamore - can anyone really say hand on heart that maybe maybe they did not precisely comply with every clause in their agreement with Agamore? Given Arthur has indicated in the EM dispute that both parties were to blame maybe they also were in the Agamore vs Essar situation?

The simple fact that the non-case has not been dismissed as such repeatedly over the last few months in court makes me think, well maybe it might be a real substantive case even if the great truth-sayer Arthur says its not. We have got to believe him, right?

Looking back the Trafigura term sheet, was part 1 of the August 2018 pump & dump. It involved an equity option given to the theoretical 'lenders' on COPL shares not anything to do with Shorecan - in other words why was COPL alone taking the equity hit & not both partners: answer because it was designed for the August '18 COPL placing & nothing else. Post the August 2018 pump & dump my interpretation is that this was just part 1 of suckering new investors into the placing. The rationale was simple, to show that the supposed stage 2 finance was in place before the fictional/non-fictional service provider 'in a month' strode in & made us all 10 baggers, no 50 baggers, no no more. Arthur relies on greed & stupidity and actually he is right, I was suckered by his script and fell for it more than once. But looking back I see it for what it was.

Of course maybe we are all being suckers and taking the service provider 'in a month' as being non-fiction rather than the latest fictional creation to get the August '18 pump & dump away. [Best to itemise which pump & dump you are referring to, given the long history ]. Had enough of this duplicitous,untrustworthy basket case for one day, going to invest in some beers - always trustworthy, reliable & good value, well compared to ....................

Unbelievable the 'non-case' that never stops. From July to the famous 5 September non-event, presumably the no-show strategy works every time because the 'judge' can't / won't stop the charade from going on - why not into 2019 or later. 'Arthur says' & 'Arthur thinks' have less & less credibility the longer you are invested here (with me now as close to zero as you can get), the Canadians who were suckered in years ago are the most sceptical - with reason! I was suckered in in July 2017 and madly averaged down more since - a losing game as we all know. Point blank I don't believe Agamore & EM disputes are not holding up SPA & NNPC - well what else is? No answer to that hey Arthur - shows it's not true by getting the SPA signed & announced, maybe the original service provider has run for the hills after seeing the shambles? Now nearly two months after the 'within a month' pump & dump and back to the usual 'no official comment'.

BB & CDN. Same thought occurred to me if its so laughably spurious a judge would have turned it to dust by now. But seemingly not. I gather it is in Lagos & that reports it was being arbitrated in London are incorrect - be glad for confirmation on that point if anyone has it.

Bolton as far as we have been told its supposed to be today. If there is no RNS tomorrow morning then we need to ask questions to Arthur, Cathy, IR till we get some kind of response.

Well there may be other news due including pre-clinical results for NXP002, maybe some new licensing deals for NXP001 and possibly more partnerships. But the St George Street partnership did nothing for the share price, so prior to the NXP001 clinical I suspect it will have to be very big news to get the share price moving. Which believe me I hope happens sooner than 2019.

I'm more confident following payment confirmation, but a little surprised there has not been more consistent buying after the RNS, especially after the brief blip to 3.70p on the morning of the news.

It looks like 'the market' may be waiting for final proof of concept with the results from the NXP001 clinical studies due first quarter 2019.

I agree with you BB, Arthur has an obligation to inform shareholders of material facts/changes and Agamore being heard in London not Nigeria is surely one. I dont buy Arthur's excuse about keeping us in the dark because he doesn't want to give credibility to Agamore's claim - now its in London the outcome depends entirely on the merit of their claim. I actually preferred it being heard in Nigeria as I felt that the opposition of powerful figures (Kola, NNPC etc) would put pressure on the judge for a quick dismissal. Now it will be decided on the strength of the claims and we have no idea how that will play out, maybe Arthur's take on the weakness of their case is correct maybe not.

Jay. Any update on the Q & A situation. BTW did you receive my questions via the hotmail email you set up? (Also if poss pls could you email me Dans email? Tks)

BTW I dont intend to imply COPLs stake in the Mozambique field is worthless but that frankly given COPL's minute market cap it currently seems to have little market value. If the Mozambique field was a separate company - call it MOPL - and was listed on AIM, given its v exciting potential next to a vast operating field I have a hunch that the market cap of MOPL alone would be £10m+ like other small explorers.

Given EM's precarious financial position they may want/need cash up front. But of course their 20% stake in OPL226 is currently essentially valueless should NNPC approval be granted it becomes a valuable asset & when oil flows even more so. So as a successful oil field OPL226 has value to EM even in lieu of cash, and might for example me used as collateral for a loan or re-financing or indeed outright sale. Ironically the best method for EM to 'prove' a value on its stake would be for COPL's share price to soar after NNPC which would then give a clear market value to COPLs 40% & by clear inference provide a valuation for EMs 20%.

Good statement by Dan putting the payment in context not just of its financial importance but of validating the business model. We have had a dearth of news for most of this year and I think that absence may have taken NFX off a lot of investors radar. This may partially explain why the market reaction on Friday was muted. The big one of course if NXP002 & the fibrosis market and when more significant & positive news of that starts coming in on that the share price should finally start moving.

And the zombie ramper reposts the same post as if that helps the ramp. Essar Mauritius has not revealed either their intention or their case. You simply cannot take the the opposing case/theory of Arthur's as if it was Gospel. He is talking his book.

BTW Rift. You should use your Arthur contact to find out how much Management and interested parties took at the placing price? IF its such a sure 10x or 20x bagger then they would load up, I mean free money is free money right. As a long term investor here I really hope that pathetic £30k order was not the management placing.