Member Info for MisterPositive

After French Oil major TOTAL recent project finance raise of US$14.9 Billion for huge gas project in Mozambique,
our Mozambique Gas licence next to the giant "Pande" gas and light oil complex suddenly looks most attractive now to SHELL or any other Oil/gas major.

We know SHELL target is to reduced their fossil fuel carbon foot print by 50% and increase gas exposure to 50% to get the equal balance as per company's own revised energy policy.

So your $500m dream might come true at some stage. Selling our Mozambique gas licence onwards to Shell or any other major could be the easiest, quickest, biggest ROI our company could ever get without having to spend a dime. Even if sold on 'As is' basis could be worth a few 100 million in my opinion.

Essar Nigeria holds OPL226 licence.

Currently share holdings in Essar Nigeria:
EssarM owns 20%
Shorecan 80%

Hopefully first of many more to come at CAD 1 cent.

Current MCAP is just crazy. All should change once OPL226 drilling plans are communicated.

Yes shaa.
French oil giant TOTAL just got $14.9 Billion finance sorted for a huge project valued at estimated $60 Billion in north Mozambique.

COPL already got a licence in South Mozambique next to producing giant "Pande" gas field.

Exxon is also in Mozambique. I would expect Shell and other Oil majors also to enter Mozambique in near future.

CawCaw,

I think that is a preview of things to come. Sooner or later this 0.5c business will be history. We could soon be dealing in pennies...once we head into drilling action at OPL226.

GGP went from 0.18 back in 2016 (I think) to 15p now sitting on 560m MCap currently with 3.8b shares in issue.

Shows how patience can reward you in big way.

If plans are executed properly at COPL, there is no reason why this is not a mid-tier Oil company in few years.

MCap here at even 1p would be only £48m given that OPL226 is an Appraisal well on discovered Oil already.

Skittish,

Good summary. Thanks for the time putting it together.

EssarM settlement deal, would go ahead, just need to make sure all is clear in Black n white. Shorecan needs to protect their interest in OPL226 gem. EssarM carrying us with free carry unto $50m is also big amount. So EssarM also want to get the legal wording right. I would rather get the legals right than rushing an RNS to market just for the sake of it.

Institutional investors coming on board is a HUGE plus in my books. Kola our Nigerian partner well connected with Govt can pull lot of strings.

I see extra shares got admitted today, making it total 4.8b shares in issue. Some if not most would have been forward sold.

Good point.
So currently Shorecan can get upto 30%.

May be they could negotiate 60/40 split after production
starts. Extra 10% for Shorecan would be great news.

Does not need to be front loaded. Get original deal signed off. Extra 10% can be "Earned into" once production starts.

Anglian,
They not calling the shots.

EssarM need COPL (shorecan) to be able to transfer the 70% under the Deal settlement with EssarM. Hence it's important to get the Legal wording right before Shorecan sign the legal agreement.

All parties working together to execute the Agreement in principle amicably in order to move forward.

Supremesod,
You here to do some sort of Revision class ?

We already know the past history.

Yep. There is a new set of De-rampers on board.

Expecting a nice BLUE day today.

We know MkBarnes.....you the Guarduan Angel....lol

Cdn.
Lovely post. Totally share your sentiment. Sure others invested feel the same or wont be here. Yesterday was frustrating for all of us big time. Having slept on it many realise we are in a much stronger financial position compared to before June settlement deal with EssarM was announced. COPL sitting on good cash position, getting their house in order. Clearing out the Debt completely. Many other AIM companies struggle to pay off debt and end up doing stupid debt restructuring deals. Good to have removed that overhang early on which could have been a drag later on when this starts motoring ahead again soon after Legals sorted.

I think some newcomers been extremely lucky to get a final chance to be buying at the placing price, before it breaks past 0.50......which should happen, not a case of if but when as MCap starts adjusting upwards pre-drill.

Stay calm and focused guys.

Brady,
We all take educated guesses. Nobody is perfect. Jay has been posting figures from company sources, not made them up as you go along. While I respect your opinion n thoughts..

why do you think Big brands advertise same advert 50 times a day....why does Sky News headlines are repeated every hour? Why am I being bombarded with unwanted adverts while writing this post (lol)...

We all check BB forums at different times. Sometimes a quick recap helps folks as we all have busy lives. Today I missed on first 2 hours (glad I did....lol).

Typo....browsing through.

(Not brewing....May be I need cup of PG tips). Lol

Agree. Some pick on key posters. First was shaa, now Jay? Why? I like reading posts from both and other knowledgeable ones. Does it have an effect?

Yes, it does. We learn a lot from each other. Also keeps momentum going for any newcomers to hit the ground running. Off course need to do your own research. I picked up so much in double quick time coming back to COPL after Exxon Liberia debacle.

Idea is to p155 them off so they stop posting. Guys u keep going. Don't take pressure from anybody. We love the posts. Too many newcomers brewing through and if it's a dead board, they move on.

I'm talking about follow up news as per today's RNS.

MMs dropped it below placing price?

Hopefully not for too long. We been here before on previous placings but bounced back up. Hoping for news next week.

I'm happy with RNS today. We know its happening. That's all I need to know. Looking to build my holding further while we still around 0.30 - 0.33 range. In 3 months time, we wont see this price again.

Love the cheeky 14 days or sooner angle !!!

Each to their own.