Member Info for Richierich25

Well
The. Going concern is an Accounting term representing the businesses limited cash flow and high internal and external debt levels.
Art has pursued an aggressive buying attitude towards business that went under during the pandemic, when oil was trading at 20 dollars a barrel.

The warrants are against the loan though of 27 million dollars.
An insurance policy if you will.
No loan = no infrastructure and also the company was a going concern.
Glad the CPL has come in.
I was started to think it was all a lie, in a highly unregulated AIM Market.

It’s light crude oil.
You could stick a McDonald’s straw in there and it would come Cushing out.
The majors are moving away from oil because of electric cars which are a lot more efficient.
Why do you think BP are trading at £4 instead of £6.
Just look at Mercedes new car.Not even due out till 2024.
Personally I feel this is a growth stock, with assets and little overheads.

CPR is positive and the land is owned by COPL, so no royalties too pay.
The market was down yesterday on Recession news and these micro stocks fluctuate like crazy,due to market cap.
Perfect climate to sell oil to Europe, with Saudi refusing to turn on the taps and Russia acknowledging everyone as an enemy.

Let me read this CPR.
I don’t trust you guys anymore lol

Energy Crisis !
That’s all the Germans really car about.
The car factories been on a 3 day week.
All the parts are made in Slovakia anyway for Audi Mercedes and Volkwagon.
Assembled in Germany to create jobs and avoid import tax.
I worked at Yale locks during the Pandemic, repackaging everything out of the box that arrived from China.
Put a sticker on the back and sent off to B&Q
Lol

Too much cheap cash since 2012.
Not a sustainable system, pump & dump.
Repeat.

If the Kremlin decide too leave the Baltics now, then maybe come January sanctions will be lifted.
As for the dividend.
5 years plus.
Apparently Russia are at war with Britain & America and Urkraine is a brother too them in Moscow.
One word - Brainwashed.
Or is that two words.

www.knowledgebible.co.uk

www.knowledgebible.co.uk

www,knowledgebible.co.uk

www.knowledgebible.co.uk

www.knowledgebible.co.uk

www.knowledgebible.co.uk

I was reading something yesterday, that 75 percent of medicines to Russia are provided by Western business.
This just shows how little the Kremlin respect the people of Russia and its sick or elderly.

Gazprom gave a 2 for 1 deal on adr London listed shares.
The only problem is you have to have a Russian Bank account to sell them and hence be a Russian citizen.
They cant do this with Polymetal because its has split operation between Russia and Kaz.
There was definatley an attack or hostile bid to gain majority holding, when the war first began, which was blocked by the London Stock Exchange and branded as a slip of the finger.
Shareholders wont see a dividend from this business for atleast 5 years.

This is what my thoughts are.
Unfortunatley Poly have been dragged under water, but they are not guilty of any charges.
China have pulled investment out of Russia, because going against the Alliance will cause great harm to there economy.
As for buying gold, i think they are still a buyer.

Let’s just hope COPL start pumping that oil out of the ground.
2 months to get facilities in place with the additional cash and 3 months to start selling and reducing debt levels, at high oil prices.
It’s a speculative investment, but the business is across the line in terms of been a GOING CONCERN.

They didn’t have a choice but to refinance on bad terms, as per the last financial report.
No lying to the auditors.

Going Concern
The Financial Statements are prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. Currently, the Company does not have adequate financing to develop its operations and the Company is pursuing exploration projects and contracts that will require substantial additional financing before they are able to generate positive operating cash flows. Furthermore, as at December 31, 2021 the Company was in default on its senior credit facility as disclosed in note 14 for: (i) failure to meet a liquidity covenant due mainly to an uncollected joint interest receivable from a partner that is in receivership (see note 23b); and (ii) failure to notify the Lender of material events involving the joint interest partner in receivership. Subsequent to December 31, 2021, the Company received a waiver from its lender with respect to the defaults and accordingly has become subject to the terms of the original senior credit facility dated March 16, 2021. There is no assurance that the Company will be able to obtain adequate financing in the future or that such financing will be obtained on terms acceptable to the Company. The Company currently does not have sufficient working capital and cash flows to cover forecasted operating and capital expenditures for the next 12 months. With no assurance that additional financing will be obtained there is material uncertainty that casts significant doubt on the Company's ability to continue as a going concern. The Financial Statements do not
-9-

CANADIAN OVERSEAS PETROLEUM LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020
All amounts in US$ thousands, except otherwise stated
give effect to adjustments that would be necessary to the carrying values and classifications of assets and liabilities should the Company be unable to continue as a going concern.

A rights issue for shareholders would issue more stock and dilute the price further.
I’m not sure about warrants.

https://www.proactiveinvestors.co.uk/companies/news/970750/copl-shares-surge-on-significant-and-impressive-new-discovery-970750.html

COPL plans an active work program for the remainder of 2022 including optimization and facility work at the Barron Flats Shannon Unit, recompletions at the Cole Creek Unit and drilling two horizontal wells at the Barron Flats Deep Unit to target the significant oil discovery COPL has made in the Frontier Formation, 1 and 2 sands. COPL America has well design in hand, and is procuring long lead items to commence drilling at the Deep Unit in Q4 this year.

When you guys report information, report in this format.
Not just blah blah.
Honestly I’m just happy they are drilling two holes at the deep unit in Q4.
I’m not happy either about the share dilution at 0.16.5 pence, but with expectations for large light crude amounts and the oil price remaining in the 80 dollars a barrel range for the next 3 years.
I’m happy too hold as a growth company.