Member Info for MisterPositive

From 30 July RNS...

..."Essar Nigeria has prepared a work program for this initial campaign on OPL226 in the form of a field development plan ("FDP") for submission to the Concessionaire, NNPC. The Company expects the presentation of the FDP to NNPC to occur in the near term."...

...looks to me.......Essar has prepared...FDP already.....ready for submission to NNPC soon.

Some traders using placing angle to get in lower......bizarre !!!

Placing to cover expenses will be TINY....

Creative ways that ART referred to raise funds was: PROJECT FINANCE.....DONE...read 30 July RNS.

Key terms AGREED....contingent on few obvious things, like NPC approval etc.

OFFTAKE also agreed with TRAFIGURA......one of worlds largest commodity trader.

Each to their own......no wonder some folks are always left behind.

RSI 36

How long will MMs keep it this low ?

Ukog reported flow rates today.....c.414 bopd.....MCap £100m.

It was a BUY 500k @ 8.57....went straight through......NOT reported late.

Spread at the time was: 8.50 - 8.60

Can see this over 70 - 80 range soon.

so cheap....

Ukog, reported c.414 bopd...........MCap £100m

COPL looking at 6000 - 10,000 bopd......MCap £9m ???

I think we can all work out the relative Upside from here.

From 30 July...RNS

"Calgary, Canada, July 30, 2018 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP: TSX-V) & (COPL: LSE), an international oil and gas exploration and development company, is pleased to announced that its 50% owned joint venture company, Shoreline Canadian Overseas Petroleum Development Corporation ("ShoreCan"), has received and agreed to a project financing and offtake agreement term sheet (the "Term Sheet"), providing for a minimum US$30 million to a maximum of US$50 million Senior Secured Facility (the "Facility"), for investment by ShoreCan into its 80% owned affiliate Essar Exploration and Production Limited (Nigeria) ("Essar Nigeria") from The Mauritius Commercial Bank Limited ("MCB") and Trafigura PTE Ltd. (Trafigura")."

....received & agreed.....

* US$100 million funding from an offshore oil services group ("Service Provider") to deliver the project

Due to confidentiality, Art could not provide name of the Service provider. But LSE interview quoted deal expected to be finalised this month.

* TRAFIGURA - off take agreement.

Unless they hit the Black gold early. Would be very welcome.

Good posts guys. Puts things in some perspective.

Makes no difference. I bought at 64 and 59, etc. With 10x bagger upside, your Average cost is still great.

Just listened to the LSE interview. Significantly Undervalued...says the CEO. 6000 - 10,000 bopd is excellent. 2 further Appraisal wells each with a potential contribution of 5,000 bopd. No brainer at this price to have a decent exposure. Even at 1p it could 10x Bag to 10p or more. Imho.

Fekking MMs using wide spread to fool many here. Could not buy a single share for so long when they took it down to: 55 - 57 levels Scumm bags of the highest order these MMs

There are multiple rigs nearby operating on PetroChina blocks 19, by DQE (the operator).

It is just 3 Aug today. Plenty of time to sign the rig contract & mobilise, as it is next door to our Block 20.

Q3/Q4 guidance is good.....whether its end of Sep/early Oct spud....still good.

Just waiting for which of those Rigs is available next in my view.

No issues for me as some others make it out to be. Patience please.

Agree. Upside is there without a doubt. Term Sheet was good albeit conditional on certain things. Patience needed....easier said than done.

Any reason why up 50% in Canada ? Or Canadian Market just playing catch up?

David, Agree. BG did their research and came for Billions of barrels NOT millions as Mike Buck put it in his interview. All the potential farminees on stand by mode. Potential here is for both 'conventional' and 'unconventual' shale which could be equally bigger as the conventional. Gobi desert probably sitting on same amount of Oil as the Saudi desert.....lake like setting. Bring it on...

Ojay, Think cormie got first lot at £1.80 back in 2010 not 1.8p...think he missed the £ sign., If memory serves me right.

China pouring new money into Africa. Given the High historical grades here, GRL could be a very attractive jewel for them in my view.

Now that's a surprise.....not. Both Top ups at 1.7145 showing as Sells..... MMs using wide spread....trying to grab as many I think. MCap £4.3m is a joke....even £43m would way too low.....cheap as chips.

I don't pay much attention to these analysts....if I did, then would have missed out on so many opportunities. Will not be surprised at all, if these banks shorted the stock, while the analysts spread the doom & gloom to do their dirty work. Won't be the first or last time either. Just my thoughts.

Think it was the timeframe of the "up to 70 days" guidance that gave most of the traders here to chance their luck elsewhere in the meantime. They will be back soon.