Member Info for Jiving

Zombie Ramper. The Agamore case has yet to be dismissed by a judge, when it is it will not matter. Until then it is highly significant that Essar Nigeria's previous Service Provider & once mooted part owner of OPL226, is in an actual legal dispute, perhaps that stops our long awaited Service Provider stepping up? You can see The Agamore historic claim here:
http://www.oilmapng.com/viewOilBlock_page.php?id=196

A conviction is a firmly held belief, when that 'belief' is continually proved false those who still hold those 'convictions' are idiots. Time after time you blind ramping has been proved wrong but of course you never change.

Rift you are a ridiculous ramper. You have ramped this non-stop since January. As a ramper zombie lost any sense of reason or rationality. This became evident last Spring when many of us who could use a pocket calculator could work out the company had to do a placing before October or go bankrupt. You abused each one of us with your de-ramper nonsense. Then look what happened in August, but still you ramp ramp ramp.

COPL does not just face 'administrative hurdles' but two extremely significant disputes with partners or former partners. There is significant risk here that one or both of these disputes could go against the company.

0.335p was the placing price. The share has now reverted back to the previous bombed out price circa 0.286.Could this 8.955m purchase be the management placing? No surely not as this is a £30,000 order which by my calculations is 30% of the mooted £100,000 management & insider participation mentioned on 29 August.

Agamore. We know that COPL & Co think its a nonsense, but I have a hunch you would find an Agamore spokesman/lawyer who would set out what they believe to be a strong case. In the end the case may go in front of a Nigerian court for them to decide. I hope its a non-issue but I can see it may well be a real issue.

Essar Mauritius. Again we know the Shorecan side, I am sure Essar Mauritius feel they have been let down in various ways not in accord with the Shareholders Agreement and have a strong case. Again this may be determined in the courts, who can decide either way.

Placing - we still await news on the management placing, now a week after the RNS of 29 August told us we would be informed ie by 7 September. If both of the above disputes are genuinely no-brainers then the 'insiders' should be queuing to get in at the (then) low share price. Of course if the placing has been cancelled.....

Amazing people can still buy in under 3p after its been substantially de-risked.

Threefold - first we get money coming in according to schedule. Second, its partial vindication of the business model, licensing income to fund research & trials, also shows co-crystal drug delivering. Lastly, the Chinese have come through & the takeover of NSB does not seem to have harmed the relationship with NFX. Share price effects to be seen...

This is supposed to be a Board discussing Nuformix but there are days when we get no comments on the company just endless meaningless abuse. Theoretically a time like the present when there seem to be delays in one or more of the news items we have been told to expect, is when intelligent comment & analysis would be most welcome. Whats up with NFX and where is our long awaited confirmation of the NXP0001 £500k payment?

Looking at the details of the Exemption it refers to the 895 million share placing, which was undertaken in London so they had to notify the Canadian authorities.

Those podcast 'interviewers' clearly ask questions that play to whatever message the interviewee wishes to push. In Arthurs case he wanted to pump the idea of very short term action - SPA in a month & NNPC presentation, he hinted this would be achieved primarily through deals with Shorecan's interest in OPL226 rather than by COPL equity - presumably so as not to scare off buyers. The two disputes that had already been raised in the 2nd quarter MDA (included due to forthcoming placing) were not mentioned. Now the whole thing looks like a classic pump to get a much needed placement away before the grim reality of not 1 but 2 disputes took hold on the market - as has now happened.

So Aim whats your take on the current silence? BTW are you attending the AGM still?

Thats true Indi.

But Arthur's refusal to provide shareholders with timely information throughout this year has had a negative impact on the share price (I can remember back in the Spring a number of shareholders selling because of bad comms). A lower share price has meant placings take place at diabolically bad levels for existing shareholders. Bad attitude = bad share price - and its unnecessary he often reveals to individuals via email what he should be releasing to all.

We really are owed an update on the management placing - itself mentioned in an RNS on 31 August, and stated "..should close by the end of next week.." which would have been Friday 7 September and its now Thursday 13 September.

So what happened - did it take place or not? I can just about see Arthur's rationale for not informing us on the change in the Agamore court date but there is no excuse for not updating us on the placing.

History of last 2 years. We get 'good' news then a placing then no news.

Well it surely makes sense to ask questions and give Arthur & IR the chance to at least answer those they feel comfortable with. If you dont ask you dont get. People often seem to alternate between indifference to the lack of communications & outright anger & threats of an EGM etc (that would achieve little but waste money). Putting forward a set of Q & A from shareholders seems a rational middle way, what is there to lose, if we get some new info we are ahead?

Jay. I am 6 hours ahead of UK so can summarise the points that appear on the forum into a list for your open Friday if that helps?

Jay. Agree with all you say. Perhaps questions could best be collated/organised under topics - ie Agamore, Essar M etc

Pity they dont stream it or make a podcast.

Jay. Thanks for contacting them on Q & A. Not sure I follow their stance on timelines - Arthur gave several indicative dates in his August podcasts, SPA being obvious one, it seems appropriate to ask how they are going, given he broached them in the first place. How long are you going to give us to submit questions, I can get a few to you by tomorrow morning.

No Rift are you for real, you continually act as if it is blasphemy to ask what the hell is going on with COPL, as if every issue & timetable is scrupulously kept to, I surely dont have to point out which timetables have not been kept to recently, do I?

The RNS dated 31 August 2018 states " the transaction should close by the end of next week.." which was the week ending Friday 7 September. We have had no confirmation that this has happened within the timeline outlined, I am asking whether anyone had had any additional information (ie emails) from the company concerning this - in particular whether it took place at all. I hope that it did & that Arthur & others are putting money down like we are but it does need confirming not taking for granted.

porthleven. Only 8 days to go till AGM on Wednesday 19 September. If we don't hear anything about the £500k by then I hope someone will raise it with Dan there.

Does anyone have a clear source for the claim they were going to purchase £100,000 worth of shares at the placing price. I have searched through the last two odd weeks messages to see where this story originated as I can't find any reference to it in official sources. Was it mentioned in emails to posters? The following posters mentioned it at various stages in the last couple of weeks, Jay I see you mention the 'company' told you..be interesting who.

Rifteastafrica 07.09.18 16.20
"Nor did it stop management from going for their £100 worth of stock (due to close in or around today/Monday)"

Rktech 07.09.18 08.31
"We are all getting frustrated with this bureaucratic nonsense.
The potential is there and we know that Arthur and his team have a track record of being able to get wells on production.
On the basis of the prospectus we are due at least an update on the agamore case and the result of the " insiders " take up on the £100k of placing shares."

Jay12 05.09.18 10.20
"company told me directors buys will appear on SEDI 5 days after closing... So soon we will know how confident they are ! They also mentioned the essar steel financial challenges.. That it was not in anyones interests to go to court.."