Member Info for Rktech

Germaniun is not a particularly rare element and I guess it depends on how much of it there is and how easy it is to extract.
It's only use is as a semiconductor.......like silicon.

No worries Petro
Just trying to lighten the mood although Arthur has used the word a few too many times.
I do honestly think he's as frustrated as we all are right now.
Strange goings on yesterday and I know it's an old chestnut but it did look like MM's games.
They do have to make a few bob to keep body and soul together........bless 'em

Actually sharealot , on the COPL board, imminent is a word that's normally linked to our CEO Arthur Millholland.

I'm new to this share but have been watching for a while.
I'm impressed with the CEO's style and yesterday's RNS was indicative of his approach and certainly didn't merit the dramatic SP bashing.
I like to remember the old adage that in a precious metals bull run .......Silver is like Gold on steroids.

Thanks for your reply Trellis and you're right I don't know what dirt you've dug up on Parsons and his entourage........good luck with that one. My comment on why folk didn't see it coming still stands.......it was like the emperors new clothes.........let's just leave that one anyway.
I didn't know you were an LTH and a balanced board is always best.
I'll just sit at the back and watch for a while.
All the best.

I'm new to this stock but I do realise that risk is well priced in.
Trellis, I really think you should stop trying to make comparisons with SOU (Sound Energy ) as it was the snake oil salesman who was responsible for that debacle and it still surprises me that intelligent folk lost life changing sums when it was frankly quite obvious.
Now you are presiding over the shareholder action group which is the last refuge for the shafted shareholder and is well known for having zero success across all fronts......the guilty are always a couple of steps ahead of you......... Why are you here ?
I've seen Mr Emptor on other boards and the impression I get is of a shorter with an ironic name talking his book.
I prefer statements like our assets are worth more than our share price.
Good Luck Everyone.

Thanks MKB for pointing out the glaring, utter b0ll0x that is spead on twatter by vile self serving con artists who are only their to take your money.

The civil unrest situation is really of no consequence to OPL226 production.
The plan is, and always has been to use an FPSO and storage tanker......the oil will never see the Nigerian mainland.
The grade is Bonny light which is a low sulphur light alkane oil much favoured by western refineries because it causes less damage to the infrastructure and consequently trades at a premium to WTI and more on the same level as Brent crude.
The PSC delay is really frustrating to everyone and I really wish I could say something of any use but I can't.
It is what it is

Sartorial elegance has never been one of Arthur's virtues.
There was one podcast when it looked like he'd been out on the farm......if it had been in full shot he might have had matching green wellies.
Who cares, it's his ability to run a project we need.
I don't think we'll hear anything until the end of the month but this is an excellent time to load up at what will be regarded as chump change soon.

" thay dont know nothing "(sic)

Interesting spelling of they and a double negative.......meaning they know something.
Some really low grade de-rampers.........can't get the staff these days !

Don't usually comment on these things but can't even buy a tenners worth without NT.
Can sell 10million
How long has this been going on now.......1 hour.
Must at least think they know something.

Morning Bob and all COPLer's , long term or recent.
Arthur's podcasts are available for all to view and I think everyone agrees that the last one with proactive after the announcement of the RF deal was a complete car crash.
Fortunately, it was shortly after that an agreement with Essar was announced, probably because they finally realised that COPL was solvent for the next two years and the PSC expiry was imminent.
In any event we have had an equity raise at 0.3 and not 0.07 which would have diluted us out of sight and so things are far better than they might have been.
Unfortunately as most know, Arthur used the phrase about not calling wolf and I think that's stuck with him and coloured his view on making claims and predictions. He clearly thought that the negotiations with NNPC/DPR would have concluded by now when he put out the previous RNS's that set self imposed deadlines that didn't happen and I really don't think he wants to do anything now until the magic ceremonial signing pen is taken out of the vault and a big smiling selfie of Arthur, Kola, NNPC et al is plastered over some publication and probably social media.
I know the COVID thing is something of an old chestnut catch all but it really has impacted a slow and unjoined up bureaucracy in Nigeria that is apparently starting to get back to something like the old normal.......which was always a slow process anyway.
I really cannot see any valid reason that this will not happen now and it's just a question of patience.
None of us can say for sure when but I would like to think before Christmas which would make what has already been one of the worst years in a long time, have something of a celebratory ending......at least for all COPL shareholders.

Morning Bob and all COPLer's , long term or recent.
Arthur's podcasts are available for all to view and I think everyone agrees that the last one with proactive after the announcement of the RF deal was a complete car crash.
Fortunately, it was shortly after that an agreement with Essar was announced, probably because they finally realised that COPL was solvent for the next two years and the PSC expiry was imminent.
In any event we have had an equity raise at 0.3 and not 0.07 which would have diluted us out of sight and so things are far better than they might have been.
Unfortunately as most know, Arthur used the phrase about not calling wolf and I think that's stuck with him and coloured his view on making claims and predictions. He clearly thought that the negotiations with NNPC/DPR would have concluded by now when he put out the previous RNS's that set self imposed deadlines that didn't happen and I really don't think he wants to do anything now until the magic ceremonial signing pen is taken out of the vault and a big smiling selfie of Arthur, Kola, NNPC et al is plastered over some publication and probably social media.
I know the COVID thing is something of an old chestnut catch all but it really has impacted a slow and unjoined up bureaucracy in Nigeria that is apparently starting to get back to something like the old normal.......which was always a slow process anyway.
I really cannot see any valid reason that this will not happen now and it's just a question of patience.
None of us can say for sure when but I would like to think before Christmas which would make what has already been one of the worst years in a long time, have something of a celebratory ending......at least for all COPL shareholders.

I can think of no reason other than slow bureaucracy made even slower and more inefficient by the Nigerian covid restrictions for the delay here.
It was never Shoreline or Karim's brief to support COPL financially. There job was to provide the indigenous participation and to act as a conduit to Government which we can assume is happening.
5% plus a free carry and the option on success to 15% is still a great deal for us all and Essar have the Lion's share which is what the previous delays and disputes were all about.
The new guy at Essar M has realised this needed a resolution and so what possible reason would they have for not wanting to progress this.
Hang in there and the PSC will drop and a flood of other news will flow with all the usual publicity and major rerate.
Then we get to the fun part of drill plan and rig mobilisation.
Patience is required and keep in mind the old phrase about the stock market transferring wealth from the impatient to the patient,

Orikolade ( Kola ) Karim went to the Harvard Business school not Standford.
Rewant Ruia went to Bentley College Boston.
Moreover Kola is over twice the age of Rewant.
Kola is without doubt highly influential and a key player in all this but it was the resolution over the dispute that was the key to this and not some polo club camaraderie.
It's not of any consequence now, the PSC will arrive and all the players EN, COPL, Shoreline all have their roles and this will move so fast when we've got the word to go it'll be breathtaking to watch.
This is the real deal !

Welcome back Bolton....good to have you back on board and I still use 1.67p as a benchmark for success.
The thought police were out earlier deleting a few posts but no matter. The thing I wanted to get across was simply this:

If NNPC were going to rescind the licence then they would have to give 60 days notice of that intention. No such notice has been given and if it was, then the company would be obliged to immediately inform shareholders.
THE LICENCE IS NOT AT RISK.
Slow and unjoined up bureaucracy plus current circumstances plus NNPC have the final say on a drill plan are what's holding this up.
Of course everyone invested want's the PSC announced tomorrow but it'll come in it's own African time.

There has not been any progress on Mozambique since the contracts were said to be being 'revised'.
I think we can regard it as parked for now and anyway we'll need money to progress it so we need OPL226 revenue generating.
PSC extension is now the key to unlocking this and so expect an avalanche of news and a mega RNS when the PSC lands.

As R_Dunc has already said :
It is NNPC who will stipulate drill timelines and what is to be drilled.
We know that it will be an appraisal of the NOA 1 well but we don't yet know all the conditions.
Relax and wait for the PSC extension, that is the next milestone when all will be revealed.
Anything else is just speculation whether that be journalistic, negative de ramping by our well known shorting/trolling outfit.......who pretend to be your friend but are just self serving parasites or just wild guessing based on nothing.
If it drops any further I'll add some but to all those who are trading this just remember when the PSC lands you'll be paying at least double what you can buy them for now and probably a lot more.

Once the PSC extension is confirmed then there will be further updates on a drill timeline and rig mobilisation. There not going to hang about now everyone's on the same page and singing the same tune.
And once it is announced then NNPC will want some progress after all these years of procrastination and disputes.....I imagine that's one of things that's been agreed and battened down as a legal requirement for the PSC extension anyway.
As for finding the cash to pay for the extra 10% to COPL then it would be naive to assume that Arthur hasn't aleady made provisions for that.
A drill bit turning by March 2021 is my prediction.....time will tell.

I have tried to think of a reason for the delay in getting the PSC approval given the history of how this project has panned out.
There is no reason why Essar would want to hold things up now as they've got the lion's share of the licence which was always their objective.
Shorecan are happy to proceed with things as they are, having a free carry on first drill and an opt in clause on a further 20% in the case of success.
NNPC and DPR are the one's who are holding this up and their well known historical reputation of painfully slow and unjoined up bureaucracy, no doubt made worse by the current restrictions is probably the reason.
It would not be unreasonable to suspect the possible effects of the brown envelope culture and a falling SP allowing people to load up before an announcement but in reality I really think that unlikely.
It will not surprise me if this drags on past the 30th September, which is an expiry of the current licence but does in no way mean that it will not be renewed. If that were to happen there would be for one thing a seriously bad message sent out to foreign investors and in any case it would be met with appeals and litigation that no one could possibly want.
Moreover, Kola has all the major players on speed dial and so it just has to be down to bureaucratic incompetence compounded by restrictions due to current circumstances.
The PSC extension will come sometime this year but the drill bit will not get turning until 2021.
There is no point comparing the drill to Liberia as that was in 2 kilometres of water and we are in 50 - 80 metres on OPL226 with a simple jack up rig and not an expensive and technically challenging deepwater project.
There is also no reason to treat the 30th as some kind of doomsday deadline although there will many who head for the exits only to be disappointed when the PSC lands.
All this is just my own opinion and not financial advice.