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The tragedy is that the BOD is devoid of any sense of Morality. They all sold it for 30 Pieces of Silver.
Their warped sense of Entitlement makes one gasp.
They are the remnants of the Empire Mentality where the rest of humanity exists only to be exploited by THEM.
Those days are long gone. They're in for a terrible shock
Part 2.Meantime all Arthur had to do was keep our spiritsnup by comtinuing to trumpet the JV which was progressing i nicely and lo and behold we now hada Letter of Intent to that effect. At the same time Bondholder were converting in large numbers and the SP was falling by the day. But not to worry when the JV was concluded all would be fine.The partner would pay off our debts,production would increase,the SP would 20 Bag immediately and we could all forget our troubles.
Lets rewind again.WHAT WE HADN'T FIGURED OUT THEN BUT WE HAVE NOW is that a ggroup of WONGA LENDERS with a history,headed by none other than Mr Tom Richardson,I believe he was actually the Chairman of COPL's BOARD.,can you believe, and Annavio Capital Partners and others were shortingthe very company they were supposed to support. But the Mega Carrot of the JV masked their intention.there is a whole groupof these predstoory lenders whose stategy is to find a company with great prospects, highly liguid but in dire need of funding. They would make the terms so onerousn that default was almost ineveitable. THE sp would be so low they could get holdof a controlling number of shares and take over the company.
The final straw was to scupper the JV, giving no explanation and sending the company to the edge of destruction. Thousand of investors shafted, mortgages unpaid, realationships destroyed by the pressure etc etc.
This scam was kept alive by the prospect of the JV being able to smooth every thing over and once tthe SP had climbed to 20p or so nobody would remember how we got there.
But Annavio and Richardson had other plans. They were to now take over the company and renegotiate with a major oil comany to exploit,properly this time, this enormous asset.
Unfortunately for them Posters have come together to unpick y
this evil scheme from the LOAN TO OWN Playbook and are determined to fight back and win.
Let's see how this plays out but if there is justice in our systems these people whohave caused such misery will get what's sure to come to them.
Just my take but I'd be very surprised if much of what I'm trying to figure out doesn't turn out to be the trufh
Stas. Ive just read through the iAntus Gotham green saga and you're quite right in pointing out the uncanny similarities between the two.
HOWEVER IT SEEMS IAnthus was a victim of Gotham Green and there was no connavance with iAnthus' CEO.
In COPL's case it could well have been Arthur who orchestrated the whole scheme.
Let's begin with the New Discovery. We could write a book on Arthur's pre Atomic tricks, the whole Nigeria saga was fake,but that's for another day.
Let's assume the nNew Discoveryb really did almost make him fall off his chair and that RyderScott really did confirm the size of the reservoir to be around 1 billion barrels. Furhurmore, there may well have been three Banks knocking on the door.and the prospect of an RBL was very real.Even the admission that a JV would be necessary to exploit the reservoir. As Arthur M said the Discovery was toombig for COPL to exploit alone.
Then the mind of AM reverted to type. How could he keep the SH on board with this gigantic carrot and secretly change direction
The forst thing to do was close down those three Banks. The reason given was that at this time regular Banks were not lending in the current finanacial situatiom and since drilling the Discovery was going to need funding. Lots of it.
At this point we have to assume that the Gotham Green Playbook was firming up in Arthurs mind. What if he got the funding from WONGA LENDER as he had done previously with Haddron aand Tennyson.Dhareholder were prepared for a longish wait as he now told us with a straight face that the PLumbing was dodgy. Rather he said like buying an old English cottage only to find it needed lots of work and new plumbimg,
He couldm now go ahead with borrowing the money at terms he knew damn well could break the company should we defaut. And the Bond deal which came to operate alondside were so onerous that those on the inside who plaaned it knew that we could never get ahead because those Bonds were sure to cripple COPL financially. The interest payments alone were so severe that the money we had acquired from various sources just drained away leavimg no other option but borrow more.
With each Strike Price being LOWER than the last within a year the SPmhad lost 90% of its value and clearly we were in Death SPiral situation.
THe GGS which was supposed to be our Saviour wasn't working well and the final straw was the DELIBERATE WITHOLDING of the injectant which wouldhave increased production to a poing where we could have survived and maybe made us marginally profitable. So to bring the game to an untimely end the didnt inject increased gas and the company is currently broken.
The penny seems to have dropped with Senior Lender that he no longer was a controlling figure and he pulled the plug.
Now rewinding the process back to the time of the BONDHOLDER'S Catastrophic deal I can only conclude that AM was formulating his Master PLan.If he just let the Bondholders do what they wanted according to the terms agree
Looking at all the evidence now being accumulated here it's becoming ever clearer that this group of interconnected vipers were recruited to defraud Retail Investors and and in so doing enhance their own Financial Status on an eyewateringly Industrial Scale.
Their web of deceit covered the Globe.
This is becoming an enormously complex scam being assiduously unpicked and exposed to the whole investing community
A failure to act would UN my view constitute a crime and at the same time be tantamount to setting fire to their own house
It really is impressive how Posters here are putting this toxic Jug Saw together.
Now we know why Her were chosen to facilitate the decimation of our SP. As a German company they would as Well suggests be out of the jurisdiction of FCA.
It's interesting and disappointing that Frankfurt has totally failed to sanction them in any way.
Shocking behaviour all round
Jimbo. i said I know the area very well. However I have absolutely no connection with Financial Services whatever.
You should be able to sense from my posts that I have no time for Tax Havens wherever they appear.
That Group of "operators". On the Cayman Islands seem to have a lot of questions to answer.
These Offsho re Tax Havens are an absolute farce. They should pay tax wherever they do business.
My son is Self Employed. Works all the hours that God sends and is hammered by HMRC for every penny.
I'm sure thousands of similar are suffering in the same way.
It's an unfair system and it's got to STOP
The British Public have had enough. Investigations take years and when the report finally emerges from the dusty shelves all they f get is a slap on the wrist and that lessons will be learned.. But lessons time and again are not learned and the old school Tie cronyism carries on without sanction.It does seem as if financial Sevices in particular are riddled with it. How on earth have all these cases drifted off into the ethe?br. Look at all the probable Frauds the posters on this BB have unearthed during this forums investigation. And most of us are amateurs at this kind of thing. Imagine what professional Forensic Investigators could unearth given the will and resources.
In recent times we see Hillsboro, The Covid debacle ,Michele More and the PPI scandal, The Post Office, and i'm sure people here can refenece many more. Where does it end??
The signs are that citizens are becoming tired of the old Whitewash and Coverups. and are demanding True Justice where the 'little man' gets a fair crack of the whip and where Justice does not depend on the size of your Bank Balance but on the veracity of your case.
This COPL scandal may turn out to be a catthartic event when lots of Little Men are banding together and demanding justice and cut out this cancer from all aspects of our FREE SOCIETY and ensure we are all really equal under the Law.
WE live in HOPE
You could be right Stas or it may have been a combination of the two.
Should they be required to give evidence in a court of law then what really happened from their perspective will make fascinating testimony
If all this is true, which seems certain from the mountain if evidence being laid in front of us in a daily basis, why would one of worlds largest and most prestigious companies consider getting into bed with this grubby crowd?
They could see which way the wind was blowing and fled..
Can anyone blame them?
I interpret that as the BOD having decided to back pedal and attempt to behave like a normal company
Have they left it too late? Fools. There was enough of an asset to make everyone comfortable.
Brat. You have the nerve and morals of the devil.
How dare you defend the evuil, yes EVIL that your Masters have perpetrated here. Words fail me. What kind of upbringing did you have?
Shame on you!!