Member Info for mcadder

Here's my simplistic view on thing's. Prior to the going concern update and bondholder financing this was trading at almost 17p - now it's around 5.35p to buy. So this is trading at less than a third of that price. So if as some suggest we end up with 1 billion shares and that's assuming if they convert the lot and assuming the company didn't buy any back (worst case) then the current SP has all of that priced in.
What isn't priced in is the RBL, JV or big production increases offering big material upside.
So 5.75p is the new 17p for now and that's WITHOUT positive updates :))

Gone blue for once lol, see if it lasts :)

One thing's for certain though - at production levels of say 5k bopd the company could be in a position to start buying some of the bonds back, so all to play for and in the meantime the 1Bn barrels is still there and could get even bigger if further drilling proves it to be bigger than what we were initially told :)

And what IF the bondholders don't start selling up until much further down the line when the SP could be at least 4-5 times current price?
And what IF oil heads back to $90-$100 bearing in mind we aren't hedged now?
And what IF they boost production within just 6 months to 5k bopd for starters?
And what IF they do more drilling in CC?
And what IF the RBL AND JV materialise?

As you say it's all about sentiment which could change in a heartbeat...

BigBear - you're overall conclusion of COPL is indeed a very valid one. With the financing now done and dusted, the market will I'm sure catch on soon enough :))

Managed to top up another 88k shares at 5.50p, I suspect that's the last of available shares at 5.50p now...

Just took another 104k at 5.48p, and we've now ticked up, thanks for yer advice gregorio but no thanks ;)))

I honestly don't know why you all give Mr Brainlessone so much attention.
After all it's not his fault that he was gifted with just 2 brain cells and has to ask us so many questions with each post.
Posters with that low intellect are unfortunately very gullible and hang off every word from TW like it's gospel. TW could tell him that he's won 75 million Ugandan shillings and all he has to do is provide bank details for prompt payment and he'd believe it LOL

Took another 71k at 5.28 - rude not too lol

On the contrary, I think it's actually quite well advanced the JV negotiations. They've been ongoing since last Sept, along with DD on both sides. The only stumbling block imo was the financial capability of copl itself which has now been addressed. Therefore we should get a breakthrough very very soon now.
The large recognised US oil company is obviously desperate to be involved in what is one of the largest onshore US oil discoveries for several decades, so they'll not want to waste any time.

I think all he did say was that they'd get back to him in January with a possible way forward. Presumably they did get back to him and they've been working on it ever since, the financing being imo the last big hurdle which was dealt with in yesterday's announcement so, tick tock :))

Great post there Tiburn. Many will soon regret not having loaded down at this price following yesterday's financing update.
Bearing in mind we will be getting a production update by the end of March I think we can expect another interview in the next week.
If that presentation is anything to go by (they were already back to about 1,800 bopd at that point) then I wouldn't be surprised if we are now knocking on the door of 2k bopd.
They said that we could be looking at an over trebling of production from current levels if they get it right in the not too distant future.
Financing confirmation yesterday is testament to the faith in continued operations to ramp up production imo. Only obstacle imv for concluding JV was copl's current financing which has now been addressed so expect everything to start coming together now and moving this back to a $100M+ Mcap company to reflect progress being made :))

Ain't going lower, back up this goes and staying up this time...

This latest financing package could provide them with enough liquidity while they ramp up production to not require further dilution so, with this out today it provides the platform to build back real value in the SP. Don't forget this was at nearly 17p before the uncertainty descended with the need for financing ( and 40p+ plus a year prior) so I see no reason why this isn't back to at least double figures in next few days...

Today is the day where we finally get lift off :))

Definitely a good RNS this morning, much more reassured about the future now :)

Golden opportunity to top up here with MHRA approval imminent ;)))

The sellers can't stop this from re-rating, they can only delay it but the rise is inevitable ;))

All the loose shares now gobbled up, should rise freely on any buying pressure now :))

As part of the presentation at the flaring hearing which I watched tonight, I heard the guy say something like " We could be looking at an over trebling of production if we get it right"
So it's perfectly possible that 6k bopd plus could be on the cards in the not too distant future :)))