Member Info for Jiving

Canadian volume was 28m shares Friday, versus 55m on London - so Canada is now at over 50% the trading volume of London! This is a huge positive, as Canadian trading in oil/commodity stocks is really something when it gets going.

There is one thing I am not understanding looking at Friday's trades in Canada (BTW I am used to Canadian system from investing in their quoted gold/silver miners). In theory COPL/XOP trades take place at 0.5c or 1c but actually there are a number of trades appearing @ 0.75c, now the last couple are small ie 1000 shares but going back to 3.41 on the link below (see Recent Trades Last 25) there is a trade for 100,000 shares @ 0.75! How does that work?

The reason Art has a credibility problem is entirely 100% due to Art's past behaviour and nothing else. Time after time he has released interviews & RNS's that have been designed to mislead not inform. A nasty repeated precedent has been a 'positive' RNS (that may leave out key facts and/or misrepresent them + unrealistic time frames) that causes buying interest & a rising share price only to be met with significant sells. Then the inevitable placing a couple of days later - inevitably there is concern that those big sellers were covered with placing allocations at a discounted price?

Look at the 16 December RNS, with the clear statement that the $8m payment would be debt not equity financed (ie quote "Initial Debt-Financed Payment: $8 million for 15% of Atomic's Working Interest") only to be followed by a huge £6m (ie $8m) equity placing announced on 30 December (but actually priced on 21 December).

I am still a big holder here & would love yesterday's RNS to be the beginning of a new period where we get positive RNS's without a calculating sting in the tail a couple of days later. But given COPL's history a rational investor has to be sceptical, until the happy day arrives we start to get positive RNS's without the accompanying large sells & the inevitable discounted placing. I am in 'wait & see' mode, hoping as ever for the best but prepared for the worst.

I am definitely with those wanting to hear from our new CEO. Once she has had time to settle in it makes sense to articulate her vision, & begin communicating directly with 'her' shareholders. To put it mildly 2020 was testing for NFX shareholders in many ways - now we have new, appropriately qualified (inhalers, fibrosis) management it is time to invest 30 minutes in an interview. Of course we don't want false promises or overly optimistic timetables, but many CEO's are able to introduce themselves & how they see their company's future, without falling into those traps.

ZIOC trades show 4 x 150,000 @ 6.5p going through yesterday, might that be part of the second tranche of the placing?

Welcome back NoEasy, after a 4 month posting break, good to see you are still in here & we are finally getting some good news.

Is that guy still around who used to post chartist views on ZIOC. As a holder at @ 10p I would be interested in what he had to say.

Great find Soupdragon & the share price is hitting 3p again.

Canada is a great market for this type of venture, cannabis related stocks have made people a lot of money & they are searching for new angles.

Yep MK right it was Suhail. Removed from LSE I believe but still active on Twitter.

Bolton, God I remember that & also cant remember the name, but when a Bullish Harami Cross meets Arthur it has no chance.

Sub, I have been thinking the same about NoEasy for some time, he was a regular, great poster & has not posted on any LSE boards since 24 September. NoEasy please get in touch!

Huge volume already on Canada. 27.5 million traded in first couple of minutes, basically taking out the bulk of the 0.5c on offer.

The 320m trade has now appeared on the official London Stock Exchange page now as well (it was missing last night as too late to appear):
https://www.londonstockexchange.com/stock/COPL/canadian-overseas-petroleum-limited/company-page?lang=en

Don't forget to send them some buckets to get our ore to the coast.

The Canadian trading is great news & makes a lot of sense given Atomic is a North American asset & should appeal to way more North American oil/gas investors than African plays. The bulk of the trades yesterday were clearing out the 0.5c stock, but its good it ended at 1c again = around 0.58p in UK terms. We now have a two way price on the CSE with serious volume on the Bid, been a long time since we saw that.

I saw mention of a US quote for COPL & indeed there is one but it is of an 'unofficial' OTC variety, this is it here, as you can see volume is currently v low, 6000 shares traded yesterday:
https://www.otcmarkets.com/stock/VELXF/overview

ATG. I agree I think AT is a good guy caught in a hard place. Clearly this is the best time to realise value in a decade, I am absolutely he can see it as hopefully Glen can. The way things are looking in our part of the Congo its surely now a case of 'use it or lose it.

Nothing ever sinks in with you & of course I realise it never will. Proof of liquidity can come from the asset itself (clue its called asset backed lending) just as easily as it can come from an equity placing. It seems you really really have no clue how natural resource companies are able to finance themselves without issuing billions of warrants to insiders. They do it all the time. Really they do. Now grow up & stop being a nuisance on the board, clogging up serious matters being discussed by grown ups. Best Jiving

Ed, you still haven't got to stage 1, you remain in nappy wetting mode which seems to be your default. Still not able to answer any serious issues regarding the need for a placing, the 16th December debt RNS, the ridiculous & unnecessary warrant issues. We are not all dumb clucks who mindlessly follow every misleading small cap CEO's 'guidance' - oh how they love suckers. Of course you wont change, if its not there, its not there. Cheers mate, jiving

Ed, the only one sobbing into their pillow is you. First off, still nothing to say about the 16 December RNS regarding the $8m debt payment, thats about the 'debt' that we are not supposed to be able to obtain without a gigantic warrant issue with shares attached? Seriously you think I take an Art statement at face value, gosh how childishly naive you are, are you really as old as you pretend? Guess you also missed the reality that the $4m equity placement to Atomic shareholders has already been vastly surpassed by the two placements for £6m & £3m. These placing plus the horrifically dilutive 50% warrant issues are a straightforward diversion of economic benefit from existing COPL shareholders to insider warrant holders. Why wasn't the Atomic asset partly sold down to debt providers as is often the norm in these situations - because that way the 'magic circle' dont get 'free' warrants by the billion.

Actually Ed, I want to thank you, our discussions have led me down the path to 'enlightenment'. I truly end the day understanding more about what is going on with COPL than I did at the beginning - all thanks to you. Cheers mate! Jiving.

CDN @ 13.51. "The dilution and way he is doing it is diverting all the value and upside to himself and his buddies"
Exactly, this is what its about, & why things happen the way they do.

One further point of course, working against selling down a portion of an asset is that it does not create the need for an equity placing with 1.5b lovely 'free' equity warrants. Sell the placing shares, keep the warrants - lovely way to do business if you are on the subscription list. Not so much fun if you are not of course.