Member Info for MisterPositive

Placing @ 0.30
Warrants @ 0 39

Warrants exercise price was set at a 30% premium.

The company obviously expects price to be lot higher than 0.39 for warrant holders to exercise them.

MMs just playing on weak / jittery holders nerves to grab shares cheap off them before selling them higher.

All good as far as I can see. Takes time for getting new % interest registered with Govt. Etc. Hence the wording, when completed. Nigerian Govt has to update new interest of all parties.

Why would Shorecan otherwise agree a drop from 80% interest to 30% ?.....EssarM paying $50m and providing free carry to shorecan to first drill. Shorecan can buy extra 20% interest from cashflow from 1st drill revenues.

Just a matter of how quickly the Govt updates their records in my opinion.

Latest warrants were issued @ 0.39 exercise price.

Looks like this is forming a solid base here for another launch towards 0.50 - 0.52.

On this 3rd attempt, we could push through that IMO. Already had 2 attempts. I'm not a chartist but seen it on other shares....generally takes about 3 attempts to break out to higher price range when momentum is there, and got plenty of that with more to come.

I think many panic sold on Thu/Fri last week.

Will not be surprised folks buying back today.

COPL has now cleared off all the creditors/ loan amounts with debt to equity swap by issuing 411m shares @ 0.30 (confirmed in 26 June 2020 prospectus).

Total shares in issue after admission of New shares on the 2 July is stated as 4.156 Bln.

Over the weekend,
1) I read the 26 June 2020 prospectus.
2) Then I looked company newsletters.
3) Older interviews given by ArtM

Just to confirm the investment case in my mind and why I invested in the first place....and boy the Upside here from current low MCap is just a....No brainer.

This is just one of the 'Multiple' price catalysts. Nothing is priced in yet.

If we were sitting at 0.70 - 0.80 then you could say its priced in.

* company newsletter.

Shaa
Those figures are from Page 6 of company presentation. I did not even know about other 2 zones until Mr Nation mentioned it.

All in all OPL226 looks a gem.

Over +6 bln barrels even @ 25% recovery factory is mother lode. Niger Delta Is amongst one of the worlds most Oil rich province.

Jivinvg,
I agree with your thought process. New licence round (after 13 years) is only for registering your interest at this stage backed up by some development plan for only $115k payment. Company just raised US$1.5m so would still have $1.4m cash.

Any new licence can sit in the background for lets say 2 years, while Copl gets on with OPL226 and fast track cash flows from say 3-4 wells in quick order.

I am more interested to know if the first drill is going to test all pay zones, 6000, 7200, 8000. Last 2 pay zones cover over +5 Billion barrel potential resource as per Page 6 of company presentation. So bopd estimates could be revised even higher. Will find out more details as we get closer to drill.

is the focus here which is a gem as petroleuminvest rightly referred to. Everybody needs to relax. Lot to look forward to. I like many others invested here based on the very strong investment case. Geology confirms the gem that OPL226 is....nothing has changed there. That is still the focus here.

6000 zone: +1Bln barrels
7200 zone: 2.6 Bln barrels
8000 zone: 2.6 Bln barrels

Recovery factor: 25% (conservative) could be lot more.

So massive upside here for us. That's the reason we are all here....we are in this together irrespective of the size of your holding.

Market is forward looking and re-rate on next 6-12 months.
Waiting for news to put things back on track. Don't let just one bad week get to you. MMs games...we can see. Generally speaking they sometimes drop it to spook a few to grab shares if they get sniff of news inbound. Some great posters here, who I have learnt a lot from. Others provide entertainment. Both are needed or you would go insane.

GLA.

I think Art is singularly focussed fully on OPL226.

Only cost $115k to secure another prospective licence. no big deal. Company still would have around +$1.4m in the bank. I think many here might have mis read that as losing focus and deviating from OPL226 and taken it out of context . New licence is still speculation.

I agree with you. OPL226 is the focus and the big prize.

Ok, so we had a bit of a down week after good rise over past few weeks. Bit of retrace happens on all shares. Slight disappointment but its natural. Placing on 28 June (Sunday) spooked a few may be?.....but shouldn't have.
It was at same price and with the same private investor. May be they could have raised funds @ 0.35 or 0.40 but why the rush to secure it on a Sunday ?

May be ArtM wants to secure another licence likep000 OPL226 being offered currently for around $115k upfront payment with development planned for say in 2-3 years time.

Current focus is still OPL226 with first drill planned before end of 2020 hopefully. Excellent geology with other producers already producing oil.

Waiting for funds to arrive. Looking to add more next week while we still at these low levels.

News Monday might change things obviously.

Another positive surprise RNS would turn this around in a flash though.

Plenty of news in the pipeline. Cannot say which news will land first, but we about to enter into a very exciting period over next 6-12 months.

I can understand from past history, but in my opinion ArtM has finally woken up and actually fast tracking things behind the scene. This could be the NEW Art M...reborn.

He is also busy clearing off the unsecured Creditors to convert into shares, expected within days....as in last RNS. this is what market is waiting for in my opinion. So all in all lot going on behind the scenes. I would just add the 411m shares @ 0.30 into the equation and work with around 4.3b shares in issue. Then compute expected future price for £50m or £100m MCap.

Jiving / NoEasy.

Agree. I would be very happy if ArtM puts in a opportunistic bid for another licence, that are going cheap by the way due to Covid-19.

Especially for marginal oil fields where Oil has already been discovered. Then we can have Upside from multiple licences.

Fast forward 6 months and we could be producing very good volumes from both licence. MCap would play catch up in leaps n bounds. Lovely Jubbly

0.30 looks like a solid base price now.

Good summary.
Investment case we know is very strong. Market waiting for next bit of news before things get even more exciting. Not many would have the patience to wait. Hold for next 6 months. This is a Multi-bagger from current entry price in my view.