Member Info for leew

Big bear, I get what you say on the statement but it would mean nothing anyway, people need to see results not am telling investors what he might be doing.

It’s the same list of deliverables as usual so let’s see if this qtr is when he delivers some of them. QTR2/3 are critical to show progress imo, because if they don’t then the impact would affect share holders further.

As usual it’s over to COPL to deliver

Transhaven, just to be clear before you invest in a share you don’t check existing company information that tells you all about warrants, bonds and other factors that could affect the qty of shares in existence?

I think if you don’t then it’s safe to say not much you say is that relevant and I would suggest not giving out investment advice.

To make things simple the SP is in the range it is because of the bonds and market assumption they will hit the market. That’s why the SP dropped like a stone recently as the assumption by the market is the theoretical shares in issue are much higher than actually currently.

Like others I feel the cornerstone investor is likely to support going forward by not converting and selling at these levels so at some stage the trading range will increase naturally or if COPL issue any form of positive news then that could make the trading range jump quicker as volume would flush out the bonds quicker.

Duster, if the JV is not being considered now it would already have to have been announced therefore the announcement from 3 weeks ago stands.

As I mentioned voting against the consolidation is valid and with no further information it is something I am likely to do myself.

They updated 3 weeks ago, do people really want hand holding announcements every 1-2 days, or weekly? Don’t get me wrong comms are not great on the bigger picture if you want my view.

Postie, I am not sure better finance options were available and if they were caught out by bad weather for a period of time that dropped production by a few bopd then they were running things too close and is poor financial planning in my view.

Voting out a CEO when JV negotiations are in play, GGS works are ongoing and recompletions are in play would be boarding on insanity IMO.

If all the above amounts to nothing and we are sat here Q4 with zero progress on anything and prospect of running out of cash on the horizon then that’s a different story.

Voting against consolidation makes sense but I am still undecided and will wait to see if any news breaks next week before I decide.

My view is the company management have basically this year to demonstrate share holder value as the company seems to have the assets / strategy / funding in place to do that. Granted it’s been a one way street of poor financial mechanisms to reach this point, which is reflected in the poor SP performance to date.

Tonlin, very rational thinking and like you I suspect the reference to a large oil company is not Exxon and is someone of a smaller scale but larger than us. My view is the potential is too large, to provide no payback but there might be a stage where I need to dig deeper and lower my average in the future to support reaping some significant benefit. 2023 should set the direction of travel and if real value is recognised in 2024/25 or 26 I am not too worried, although I initially brought in with a short time scale in mind.

Yes I agree, we should see improvements, but the markets are reactionary because to date, since out of suspension, all the great statements of what’s in progress and what will happen has not worked out in the positive way expected.

If they can start delivering progress by completing milestones and improving the SP value then the markets might start to factor in some forward thinking value.

Easy, you are missing my point.

Yes of cause it will be beneficial when we see wording such as “the GGS works are completed and to date the improvement is XXXBopd and is expected to climb to XXXXbopd over Y months of optimisation”

So far the words “works are expected to start on the whatever of April” has had zero positive effect along with every other positive comment on what might happen.

The potential is huge just need RNA announcements to tell us things have been completed as positive words on what might happen mean nothing in COPL no based on the past.

Still stand by my view that by mid august things should be materially different as we should be seeing a positive effect on bopd and at that point, or things can be significantly better before if a JV/RBL materialises.

Eazy, your right nobody cares what has been said “will be done”, everyone is waiting for “what has been done”

Until COPL start achieving milestones that are beneficial to the SP progression no one cares.

Edgein,
My point was is some people are talking like mass dilution is basically guaranteed, which is completely unfounded. However the next part of my message clearly said companies that consolidated normally end up not be being beneficial to the existing PI.
I am waiting another week or so before voting, but currently I would vote exactly as you have and unless something changes next week in terms of what is communicated then that’s what I will do.
The company SP performance has been nothing short of shocking so I appreciate the management probably get a lot of poor messages etc from very inexperienced investors , but there has been a noted increase of what I would class as slightly more experienced investors now equally as disappointed and patience is running thin I think.

Never said it was not possible, just that performance to date means the market or investors will not assume it can happen and won’t price anything in until it happens hence sitting at a dreadful market cap vs potential. Although that is obviously impacted by the financial mechanisms used to date

Pilot, if they deliver that then great, no one will moan but until it’s delivered the market won’t factor in anything, because the performance in the last few years, if you go by the SP is dreadful so no-one would assume that performance changes without see proof / progress building

Thanks Prophetus, I thought we were above the minimum so it’s just the SP to increase, which I would prefer them to do by adding value based on success not just doing it by an admin activity, although based on what we know everyone is having to guess why they want to do it anyway.

Yes mass dilution argument is unfounded, but based on history of what happens to companies that consolidate its not a surprise it’s a discussion point.

Basically to date, since relisting, purchasing Atomic and Cuda, a 1b discovery on US soil, enough money for 11 months, an RBL being close a few times apparently and a JV in the offering which is now under commercial discussions, the SP has fallen significantly based on poor finance agreements (for existing PI holders), falling production and missing of the companies own goals for 2022.
If you let people find their own answers to what’s happening this is what you get. The RNS messages could be far clearer on the required steps and path needed to be taken but equally words mean nothing now based on previous words so the best thing COPL can do is send out an RNS telling us they have completed some works or discussions on anyone of their objectives to demonstrate success / completion of a task not just telling us what they will do.

Peronifund,

What extra market cap do they need the cap is already above the required for NYSE (I think) but not researched it ever in great detail as never invest on that market.

I think COPL just need to stick to hitting or exceeding targets on time.

Getting back to production figures from about 18 months - 2 years ago would be a start, as would meeting the other key objectives from 2022, which have now melted into 2023 targets.
So far in 2023 we have been told we are a creek without a paddle in terms of finances, fixed that by another financial mechanism that dropped the sp by about 60%, but the positives are we are buying some pipe and trying to sort the pressure issues out and still talking about a JV.
Just hit targets, keep promises and deliver existing share holders value and people won’t moan.
Currently based on it’s actual potential and assets this genuinely must be the worst performing share vs potential around, and that is not down to un-savvy investors.

Eazy, happy to disagree, there is nothing factored in for that side of the business in my view so dropping on something that was not factored in would only happen if it was used as a trading opportunity rather than a fundamental change in what’s priced in.

Here is probably the sensible view, regardless of if it’s true or not, it will make bugger all difference to the share price in my humble view. The moment the production rises and or/JV comes to fruition it will be time for movement.
I can’t see how the completion at this time would affect anything SP wise, now the question of “should it” is valid but still I can’t see anything discussed today meaning much tomorrow either way.

I also agree I don’t think anyone is being screwed but the situation with the company was that more money was needed to progress and to date, although there are JV and RBL discussions, the situation has been to use undesirable finance mechanisms for the existing PI’s.

I still maintain by mid august I expect us to be in a different place.

Stas, I don’t always agree but you have hit the nail on the head in terms of what has the company done that it said it would. Hence in my view all forward looking positive statements form the company are pointless as I assume there are not many around who would invest based on these. The company needs to just produce something along the lines of what it said it would and show the markets it can deliver.