Perspective4 Feb 2023 11:12
Morning all. All this talk of corruption etc. is a bit bewildering. For sure the MMs took full advantage of COPL on Wednesday RNS, so yes manipulation and borderline corruption, pretty obvious they're working COPL hard because they know they can make some serious money on the re-rate. Was it strategic by AM, quite possibly, he wants stickier hands, and to sow an uncertainty that does not facilitate all the box trading/shorting and spread betting we've seen. It will still happen, but the corridor of uncertainty is now full of smoke, it could ignite at any moment.
As for corruption; look no further than Shell, £32 Billion profit for 2022, and what is their UK tax bill for 2022? Well it's £100million. Let that sink in. True corruption lies in the army of lawyers and 'turn a blind eye' politicians that facilitate such blatant imbalance of fiscal return. Do the maths. Even a 10% tax would return £3.2billion. How many hospitals, schools? Yes, sad state of affairs. Incidentally, how do the majors get away with reducing their tax bills to next to nothing, (and this does also apply to the USA)? They're positively encouraged to invest and buy smaller oilers, and to offset carbon footprint and develop such storage infrastructure. COPL has oil, lots of it, fact, see RS report. COPL has significant acreage with a proven storage capability, fact. Now that's why I'm invested, not too concerned, and happy to wait. Nothing has changed here. AM has got COPL thus far, has speculated to accumulate, has taken finance to the wire, but has built up assets that are simply exceptional when you compare to Mcap. Think also of the legacy aspect. This remains the case today, nothing much has changed here, I recommend that worried investors read the Prospectus. There is also the background context of a globally depressed market (Apple, Tesla have not turned a profit this past year), there is little forward looking/thinking built in, everyone has left the dance floor, and traders/shorters are scrambling around and pulling out all the stops in order to eek a living. I'm ok with the fact that COPL is a prime target, it's positive. History tells us this always comes to pass, it's simply cyclical. Anyway each to their own, if you don't like it then sell. Over half the posters here are not holders, don't believe a word they write, don't believe me either for that matter, however with a spare 15 min, and as a genuine holder, I just thought I'd chuck my penny worth in. Have a good day, and GLALTH it's all that oil what does it peeps.....