Https://docplayer.net/48193862-Oilexco-important-lessons-to-be-learned.html
Art was previously CEO of Oilexco which went bust. Does this ring any bells? (Copyright 2009 Richmond Energy Partners Page 4 of 5)
“Oilexco – important lessons to be learned 30 March 2009
• A weak board with the lack of the key experience to challenge a strong willed CEO
• Inadequate technical due diligence, particularly reservoir engineering, both by
the company and the lenders to the company
• A seeming complete lack of cost control with regard to drilling operations,
developments and company overheads.
• A lack of financial risk management.
• Overexcited equity investors and equity analysts who blindly rewarded activity
and news flow with higher and higher valuations/“
Were any lessons learned? No. Repeat performance. Lets see if the new CEO and Board can truly rescue this company.
COPL doesn't do good news in an RNS (only in emails) and we already know the quarter was a miserable one. Tomorrow will be the usual COPL bloodbath unless they have suddenly got production up. The market doesn't think so and nor do I, unfortunately.
I have a question, To what extent would consolidation ameliorate the negative impact of having huge numbers of shares being converted. Even over a billion shares can instantly become a far more manageable number. Perhaps consolidation, combined with rising production and still the potential of a JV could be beneficial.
There is a chance that this share can survive this and do well on the back of any Helium discovery but it will take some time. Beware of any spike coming as this will signify a raise very soon afterward.
And Tilburns post means nothing if production doesn't significantly increase, and GGS proves to be the huge white elephant, i think its going to be. Why employ this guy if everything is going swimmingly? According to all the rampers production is already up and everything is tickety boo. Why do we need him? Because there is still a big problem with production as intimated in the RNS...
The big reason Jacknose could be that the GGS is taking longer than expected to work and new financing is required , and shareholders will be kept fully informed. ....i'm thinking of an explosve end to. We just dont know.