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Someone is recovering all their losses from creating these waves of 60 - 70% fluctuations. Ive been far to stubborn to sell on 80% loss and then buy low, ride 30% ride sell out, let it drop and slowly recover.....but it is a proven technique that works. I hope for the rocket lift off like many, but until we see prices go 400 - 600% lift from here, the movements dont mean a great deal. I am scratching my head to wonder what the company is surviving off? Do we think Art is using his Halifax super saver to keep the lights on?
Im down 50% and over committed to early so no extra funds to pump in here unfortunately for me. There is an ongoing black cloud regarding funding. No one is disputing that MATD have found oil and its very, very likely that expo license will be granted soon enough as the country have a £1billion investment from India to build their own refinery. They would mean they need oil to refine! Its all going to come down to whether we have a farm in partner, bank bond or equity. Thats the doubt, update wont happen until expo has been awarded and funding secured. The company doesn't care about the day to day performance of the SP, as they have small capital to exist and they know it will fly when they have concluded on the business in hand. Hold tight, when they announcement comes its going 30p again IMO. GLA
This share is suffering now due to lack of comms and progression from the company. I think this will remain like this until end of March, as its end of Q1 2020. Soon as a expo permit is awarded, this will fly. But until then.....Its an investment at distance. Most people now very much sitting on losses. GLA
We all know, come the license being awarded this will continue to go up. There is simply one elephant in the room, and that funding. He says he wants high end 20mill dollars. Lets look at this logically, so he gets $15mill from a partner and has to raise $5mill via equity. for $5 mill raise at current SP levels, would issue a further 1.4 billion shares, diluting the SP to 1.3p. He has 25mbp. That would be a 10X market cap, so even if you did nothing form this exact moment, SP should be a 10p with a $5 mill equity raise @ 3.5sp. If it creeps up (Which i personally think it will after Expo is awarded) your laughing all the way to the bank as an investor from here. Question will come down to, whats you average. Did you have 30% profit or a feww 100% profit. Either way, regardless of outcome us LTH stand to make profit. Hold in there peeps! GLA IMO
Its usually between $8 to $12 a barrel. So Heron would be between a $200 - $300 mill recoverable well. Obviously drill costs and expenses to be taken out, but this alone should put market cap and share price to 30p. GLA IMO
Does anyone actually think were ever see 1p again? Its screaming share consolidation and I just cant see how the company has any funds to keep going. This really needs to be trimmed back to Art and a securtary on minimum wage and have a 5 year stand off with the current Nigerian president. Anything else and its just further dilution. Think I'm 85% down. Clearly Kola is hoping for COPL to go bust to move in as full owner of the asset, and when your worth billions you have time. Game of poker this share.
2 dusters, 1 hit being Heron. Flow test was decent at 200mbpd. Essentially company doesn't have exploration license and no money to get the oil out the ground. Company is Seeking options to address this. Shate price is on its arse until then.
Not a single share has been bought here today. Absolute ghost town until expo license is awarded and funding for drilling programme is defined. IMO it will be well worth the wait, but i have no extra capital to average down or buy more. Is what it is, but im confident that 10p will emerge within 18 months.
What an absolute load of bull.....honestly people who were posting these type of things were purely attempting to pump and dump the share. 3 year wait for any major activity from this one. Wouldnt be surprised to see 10p here. GLA
Im aware is was stated in the Q3 results, hence my comment regarding the 14th Nov...I.e the day they annoyed the Q3 results.
However, this is a statement. I want to know the explanation/justification surrounding its amendment. You can't just make an amendment because its convenient, or inevitable for the company without a proper explanantian supporting such change. Otherwise its contempt and miss leading, or deceitful to shareholders that one can legally take action against. This can move into shareholder fraud that can lead to personal liabilities for directors in legal disputes.
"If a director makes a statement which they know to be untrue as a director to another party, and intends for that party to rely on the statement, and which they do to their detriment, the director may be personally liable for financial loss suffered.
Fraudulent misrepresentation can occur if it can be proved that the statement is made knowing it to be false, without belief in it, or being reckless whether or not it is true."
This is so sneaky, we have had ALL YEAR the state "Drilling of the first appraisal well is planned to commence in 2019", this was last stated on September 4th.
Then surprise surprise, on 14th Nov its been changed to say "Drilling of the first appraisal well is planned to commence in 2020".
Where is announcement to inform the shareholder why a crucial, fundamental amendment to a critical milestone in this companies future has been to secretly changed without any explanation? Surely answers need to be stated.....Outrages behaviour from the management team and they need to be held accountable.
So the last operational update was Sep 2017 and the lying CEO said "The Company remains confident that it will meet the target to drill an appraisal well in late 2017 or early 2018 with a subsequent Early Production Scheme being put in place shortly after."
He also said "Additionally, COPL has plans to approach the Government of Liberia with regards to entering into a new Contract for Block LB-13, offshore Liberia. The current PSC for LB-13 with ExxonMobil and COPL terminates effective September 25, 2017. However, COPL's technical team sees opportunity in other areas of Block LB-13 and continues to perform geological and geophysical analysis in these areas.
Now 2 years and 3 months later we as share holders have had sweet FA of updates on this. All we have seen is a dilution of an extra 1.5 Billion shares, 3 fund raises to pay ongoing administrative expenses and some lip service about getting close to alternative financing. It really is not good enough and surely we have a right at the AGM to the vote this guy out, sell off what little license value we have in Nigeria and go sh*t or bust on something else. I mean WTF is the update in Liberia?? The funding in Nigeria? The drilling that is now suppose to commence in 2019? The NNPC approval blah blah. This has got to be one of the greatest BS stocks of all time? And why has AM not been sacked yet???
I disagree, resistant levels at 3.2 were tested and that was the bottom from my analysis. I'm in heavy here, inhale strong belief and confidence in a 12 month investment. Oil has been found, MATD have put their cards on table, is purely a case of negotiating the pot size now. MATD has won hands down. GLA
possibly the 400% more sells than buys two days in row? Hardly need to be wise....more sense. Sometimes it better to cut ones losses than to hang on to the invertible. Re-rate is coming. Which way.....you decide....but as warren buffet always says.....follow the money. GLA