Member Info for Jiving

Yep it occurred to me they might want to release the news in the order Dan indicated earlier in the summer & are waiting for the right bits to come through. Also potentially some news of progress on 001 or 002 might come with new deals. Just hoping wait is pos not neg!

Chairman, David Tapolczay is a real big wheel in UK medicine/pharm ex head Medical Research Council (Lifearc) etc., and seems to have a long involvement extending loans to Co when it was a small private company. Given the investment choices a guy like that has and how focussed he is on NFX he must see something he really likes.

1.5m buy near/at full ask!!

NoEasy. Very useful analogous situation. Would be difficult to see how its anyone's interest to begin a lengthy & extremely expensive London court case costing each side a fortune, instead of benefiting quite quickly from a revenue stream from a producing oil field. But people miscalculate & face can be on the line as well. I am actually glad there is a set date as that focuses minds including ours, 'only' another month for this nonsense to play out t a conclusion one way or another.

I just hope somebody in the company sees fit to RNS us the result of the Agamore hearing. It 'could' be the start of some positive news-flow after what, some 20 months of non-stop bad news....

That would be great Indi, Dan cant dodge the AGM. Maybe he might even to try to get some news out prior to that?

Seems like a little light selling, no big 'insider' sells. Dan's news timetable seems to have extended somewhat.

AGM on Wednesday 19 September in London could be a good opportunity to seek an update, for any investors living nearby.

And surprisingly low volume given a huge placing has just taken place.

Indi. Agamore is a court case in Nigeria being dealt with by Shorecan, also on behalf of NNPC which indicates how worthless they view it(not worth defending themselves!!!). The haggling with Essan Mauritius is not a court case but frankly haggling over the plunder, they have not gone to court - ie its just a game, it seems they are bankrupt.

Marmie. I'm with you on this, difficult to think of a worse set of circumstances than the one COPL shareholders are currently in. To just get rid of one piece of garbage ie Agamore would be good, more to follow I suspect.

Indi. The reason given in the RNS (& which Arthur has mentioned before) is that the TSX-V require companies with a v low share price (like COPL as XOP = 0.5c) to consolidate their share capital say 10:1 making XOP a 5c share rather than 0.5c so its actually not primarily about dilution from placings. I believe Arthur does not want to consolidate the share capital as he believes a v low share price encourages rapid upward movement in the share price ie he would rather get to 5c by price appreciation not consolidation. If/when the SPA & NNPC approval are given that is quite possible/likely.

The RNS states that COPL is de-listing from the TSX Venture & then listing on the Canadian CSE, an AIM type market for smaller companies. So the Canadian listing is changing exchanges thats all.

Remember its not just Arthur sorting this but also our equal partner Kola Karim. A man of considerable entrepreneurial acumen who seems to have a very good track record of getting things done in Nigeria. Fortunately the Shorecan JV means we (COPL) benefit from his input & skill set - i.e. its not just Arthur we are reliant upon.

It certainly suggests they are rolling back their expectations for cash inflows. Looking at future expected cash inflows from NSB presumably this loan was intended to be repaid from the second payment of £2m?

Yep Easy I agree EM resolution then service provider is by far the most likely scenario (say 80%+), but I am just trying to imagine what an alternative outcome might look like. Arthur can be pretty creative when backed into a corner.....

What if the Essar Mauritius ("EM") issue isn't a deal killer after all - as possibly Cathy's latest email might imply. In which case there might be a positive scenario: whereby Arthur announces the long awaited oil services provider in the next couple of weeks, who in turn releases funds to Shorecan & then to Essar Nigeria that meet EM's demand for an agreed monetary inflow prior to their October deadline. After all if oil service providers were unable to act because some of their counter-parties were in legal disputes would they be able to do business in the oil industry at all, lawyers usually have a way to hedge these problems & get on with life.

IH. Thanks for your thoughts I was actually referencing the possibility that NSB (now Zhejiang Yatai the new parent company) may have been dragging their feet re NPX001 payment to enhance their prospects for getting an equity stake in NFX. Unfortunately it was actually initially intended as a passing comment seeking Jay's thoughts. Actually I begin to wonder whether the NSB takeover by ZY may have had unforeseen consequences...

Thanks. At last some useful information, finally after 2 pages!

Mazik. NSB was taken over by a listed company Zhejiang Yatai - a Shenzhen listed company with a mkt cap around $1b.
https://uk.investing.com/equities/yatai-pharm-a
http://en.ytyaoye.com

Of course things may have changed in the relationship between NSB and NFX now NSB is part of a bigger group.

Well I got the cheapest stock I have bought in 7 months yesterday @ 2.50p, 40% below re-listing price. There are two risks at this stage, first, self-financing business: until we get a sustainable revenue stream from licensing royalties there is always the danger of dilutive placings. That may well be the reason the share has been trading around 2.50 again. Second there is the delivery risk, the business model sounds great in theory but we/the market need to see them bring one drug (presumably NPX001) right the way through to producing licensing revenue. After that we can be reassured about their ability to bring other drugs right the way through the process, obviously including NPX002.

R-Dunc thanks I missed that one was thinking of a similar earlier post. So the whole Essar M conflict has gone bad between 2 July & beginning August. Unreal, their aggressive response likely played a part in the timing of the Placing & as it had to be revealed beforehand, & also the offer size & discount needed to get it away. So its already cost us however it eventually gets resolved.