Member Info for mcadder

Well it certainly wasn't me Dan....

Maybe.....just maybe

It's actually 14% up but don't let everyone else know lol ;))

Lol well of course they're going to blame me as it would have been much easier than blaming themselves for non delivery. What was their reason for all the other drops or did they not go into detail lmao!
I personally think he will go as part of the new direction this will be taken in so watch this space.

11th Oct -
"the reconstituted Board intends to complete an acquisition which will constitute a reverse takeover within six months following completion of the Proposed Sale. It is intended that this proposed acquisition would be within the oil and gas space, with further Board changes to be made as appropriate depending on the specifics of the proposed acquisition. The reconstituted Board intends to evaluate in short order potential acquisition targets with part of the net proceeds of the Placing and looks forward to updating the market as and when appropriate."
4th Nov -
"The reconstituted Board intends to complete an acquisition in the oil & gas space within six months."

But where though is anyone's guess. A lot of speculation on Twitter previously but it's just that - speculation.
However I still have 10M shares here and had considered adding last week when the price was 0.05p. Looks like I'll have to pay 0.06p or more this week never mind lol.

Seeing the SP at current levels is so frustrating and the only thing that will stop this is material news. I was expecting at least an update on some of the onshore assets in West Africa by now that Osa confirmed they were looking at. Let's just hope that with his influence and understanding of the bureaucracy that exists in West Africa that he can at least speed things up!
PetroNor is a huge endorsement for the aje field and should boost the chances of full development of the aje field as well.

I don't want to sound too optimistic but if you look on the chat boards and indeed Twitter for copl the last week or so you will notice that no ramping at all has taken place which at least means there is no pump and dump crew at work here to artificially raise then crash the price.
As someone mentioned on ADVFN this morning..... "we could see BOND NEWS or update of sort Monday onwards ''JUST A THOUGHT'' looking at the trading pattern.. up 4.5% WED up 14% THUR drop back 4.5% Friday morning got it back by 2pm, and bounce 12% before close, and could have been up a lot more, if MM would let it go LOL'' but they do hide it away sometime, to stop the herd smelling the green grass, and jumping in for a quick buck".
The fact is that the SP has been completely bombed out when just over a week ago it tanked to 0.05 after Q3 results upon expectations of an imminent further placing.
Wouldn't it be great if it turned out not to be the case and alt financing along with performance bond was secured to get this project back on track? After all it's about time and given how attractive the opl 226 prospect is supposed to be it would be madness for no progress to be made especially after all the technical work carried out behind the scenes to prove up the prospect.
An article I posted the other day had a relevant quote from the Nigerian National Petroleum Corp....."NNPC Group Managing Director, Mele Kyari, highlighted that deepwater exploration activities in the country needed to be escalated."
IF and I say IF the bond and financing are finally sorted then upon announcement I would expect the SP to gap up to at least 0.15 on open and rally towards 0.5p or more in the days after. If a further placing is issued however I would expect the SP to remain around 0.05-0.06p area for the time being. However from the way this has risen gradually over the last few days I am slightly hopeful at least that it's the first scenario we are looking at. It's certainly about time and would be a very welcome development for long term holders substantially under water. Gl

Copl seems to be moving back in the right direction - something afoot?

Silence is golden.....well let's hope the lack of reply can only be a good thing, currently 14% up

Err don't think so.....

Nigeria to Launch Oil Licensing Round in 2020
By Anine Kilian, Contributing Editor

In a bid to reach its three million barrel per day output target by 2023, state-owned Nigerian National Petroleum Corp (NNPC) will launch an oil licensing round in 2020 for its offshore and onshore blocks.

NNPC Group Managing Director, Mele Kyari, highlighted that deepwater exploration activities in the country needed to be escalated.

It's been quite some time since I commented on Nuog which back in July some will remember I was a major shareholder here.
Despite what I was told over the 5 months of being heavily invested here I just had a gut feeling that we weren't being told everything and obviously in the end I went with my gut. So this meant that I sold the majority of my holding at a 45% loss instead of a potential 90% loss had I held on to where the current SP is.
I find the current situation here very interesting indeed and the potential bearing in mind the change of direction as well as who is onboard is mind boggling.
If they can successfully deliver and reverse an acquisition into Nuog (which I've no doubt they will otherwise why bother) then we could be looking at a potential 20-50 bagger if Irg/Echo is anything to go by.

Surely that should have been RNS'd at the time and clearly it wasn't!!
Thanks for the info Kentan but I'm wondering if there is anything else that may surface here. Not happy....

Guys what d'you reckon here to SP if they manage to sort out performance bond and progress to commencement of drilling? I reckon we'll be looking at a gap up to the 0.25-0.30 area easy....

We must be due some news surely? Come on Osa let's have some news on those deals you've been working on to stop the rot...

I have to agree I think whoever the person is clearly needs help following on from huge losses they've probably crystallized with this share.
However they won't have done themselves any favours with all the threats made and their wishes to see the other remaining shareholders lose money too.
Do I think this is high risk? Of course!
Do I think this project will still progress? Definitely!
Only question is how much will shareholders stand to benefit? If copl is very very close to unlocking required financing and commencing drilling then it would seem pointless throwing in the towel but if another equity raise in the meantime allows that to happen then it must happen. It may mean a further raise that will double the shares in issue but it's better than the other outcomes.
So if that happens and a year from now copl is producing 6k-10k barrels - the likely outcome on the SP is that we'd have to expect a re-rate back to perhaps 0.5p instead of 1p as an example.

As per recent placing.....

"This placing will bridge the gap until the Company can conclude the additional financing measures discussed in the Press Release of May 28th. Together with our joint venture partner we continue to be focused on concluding the placement of the OPL 226 Performance Bond by our Nigerian affiliate and progressing the operational plan for the commencement of operations. As previously indicated, once the Performance Bond is in place, we can commence operations in earnest."

We shall soon see how true this statement actually is, heaven knows it's the least that investor's deserve here....

500 trade at 10.32 -

List Of Market Maker Signals

500 - Gap the stock. Gap can be up or down, depending on direction of 500 signal.

Lol - let's see if this closes up by close this afternoon haha ....

No reassurance from AM that all is well and progressing as planned then? Says it all really imo....

Seller's seem to have dried up - interesting that I can currently sell 300k shares in one go again. This is primed and ready to move up so Osa let's see what you can deliver and finally transform the company

I certainly will be. Given how oversold this is with sentiment on the floor any decent news will push this back into double figures.