Member Info for pijoe1212

Your point about directors - agreed.

Company presentation on web site...12 months. If you look at other drills then 12 months is about right...but need the money first and dispute to Essar sorted and opl 226 sorted. Anyone who thinks oil revenue will be flowing this side of April is In my view totally wrong

I note no comment on share pledge...this is key...the finance raised for post drill cap ex requires a share pledge security as part of the term sheet outline deal. I suspect many do not know what this means? It means the funders have a direct right to grab the operating company shares. It is just the same as a mortgage- if you do not meet the terms the lender can grab the house. It does not have to make you insolvent ( bankrupt) first. So the con offers that post first drill. What does the new $100m service provider get as his security? Why put in that cash only for the co to mortgage the very thing you have paid to generate? Bonkers!!

Panamabob...your posting does not improve I note. The co goes not have the money to drill and it’s own public domain guidance is 12 months from money to end of drill of first well. So how can it get cash flow by April - the prospectus tells you in black and white placing in April!

You recall calculus from school.. rates of change..displacement to velocity(2nd)...I monitor the forth ( acceleration to jerk)...high jerk value means cash to made

JayKay1...lse give a handy daily counter...just look at number of posts and twatter ramps and then bet up or down...simple suits this stock..very simple on many levels

Page 61...8 admin staff and 4 doing work... $400k per month...clearly warranted to pay that expert team...of..um...ah..administrators...

Still reading...but that share pledge is a killer...the words on page 26 need some up picking...

On mobi so can not cut and paste ( or realistically move between pages easily!).
Just read the first 13 pages....share pledge security on the post first drill debt ( who the heck would fund the pre on the basis?). Declared need for at least $2m placing prior to April 2019...need for $30m plus placing to fund shorecan...and of course shorecan is not controlled by Copl ( the chairman and CEO are not Copl..oh and the 4th director is Essar...!)
That is that I have picked up in 20 mins....all need to read it and understand and as questions...

As I stated the Hur bb has been worse than a waste of space.. and I included my posting on it....interesting dynamics playing out on a private investor forum in parrellel- just like Ctag and Ukog!!!!!!!!
Back to Savp - I am watching and following Copl currently. In my view a basket case for all sorts of reasons, but awaiting ministerial sign off of opl 226. Prospectus due now may give further insite...

Still not on web?

Thanks very much for the heads up- been traveling today so could not listen in. Much appreciated

i have posted a bit over the last few days, and every now and then this year after selling out. i mentioned i believe in the future of niger assets and hope the risk profile changes. now the why post over the last few days? - savp came up in discussion earlier this week with an II mate. he was a contact made during the afren deal and a major investor in "opportunistic" situations (clearly understands Nigerian oily issues also). made me look again at what was happening here... hence commenting at this time. (thks for the comment nen..not sure anything posted on that bb this week has been worth reading!). GLA

Now the question has to be why did a few use LSE Premium and continue to use SOB? I have my views but it will be interesting to read.

One of your best posts recently ( after a few shockers!)

I am in Yorkshire next two days..I think they have internet? Then hol next Next after bank hol..then two days of kids and work..then Day in Telford..

Noob

Will do

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