Member Info for RodneyT

There's not much doubt that many of the RNSs from COPL since Sept 2023 and well as underlying actions by the Company since then are being challenged with legal action imminent. Don't confuse this with the underlying assets though. Step away and have a good think about Jan 2024 production. Review the RS reports again. BFSU alone is excellent. Then there is Fed Deep. As yourself a question, if COPL is such a duffer, why have people done what they've done and are doing what they do?

With respect, laronde, we wouldn't. I spent 2 weeks reviewing well data from Lancaster/Hurricane Energy. There is a reason geology is one of the hardest subjects to study. There is no suggestion that he will or wants to undermine LTHs but, if he does, many years of painful legal battles surely awaits him. RS has consistently stated that COPL's assets are valuable and could well be extremely valuable. Again I refer to the appointment of megahitter PK to tiny COPL, according to TR, the hopeless minnow with big debts and rotten assets. Oh Tommy, oh Tommy. Did you know look at the January production figures on WOGCC? Over 1000bpd with no NGL injected and 95% efficiency from the GGS recirculating just as it should? Everything you said via RNS is unwinding Tommy. We didn't do much except dig and dig and dig for the truth. Mostly, you've duffed yourself Tommy. AM and his team built an excellent GGS system. Where are are those 'leaks'you were talking about? Where's the flaring? No Tommy. Read 'em and weep. The truth is, BFSU and the GGS are excellent. A lovely business in isolation. And then we have Fed Deep. Go Tommy and go now. Fenikso's shareprice is up 63% in 2024 so far. You're a wealthy man Tommy. Your hubris and ego have got you into trouble this time. Go now. Go and enjoy your money in the Cayman Islands. Things can only get worse for you here. You can't change the reality of BFSU. You can't change the terrible things you have said via RNS.

Have a good look in detail at the Ryder Scott reports not only for Fed Deep but also for BFSU. Ryder Scott have acted as O & G CPR specialists for almost 90 years and are a firm with integrity. Their report places the value of BFSU alone at almost $500 million on a conservative basis. The value of Fed Deep is of course way more than that. These sorts of firms rely on their reputation. Think about this then look at the behaviour of the COPL Board and Tom Richardson I particular these last few months. Who's not telling the truth do you think and why not? What's their motive? Who hired them?

Have a good look in detail at the Ryder Scott reports not only for Fed Deep but also for BFSU. Ryder Scott have acted as O & G CPR specialists for almost 90 years and are a firm with integrity. Their report places the value of BFSU alone at almost $500 million on a conservative basis. The value of Fed Deep is of course way more than that. These sorts of firms rely on their reputation. Think about this then look at the reputation

Chapter 11 is very expensive and take years. That said, please refer to my previous remarks covering 'excess proceeds'. Folk like PK and his firm make fortunes out of C11 or similar. Others do far less well and the scope for all sorts of legal challenges here is clearly real. People with nothing to lose just keep fighting. We can see this in our group. It's not macho, it's just a cold matter of fact. It is all not quite as clear cut as it appears. Many subtleties dwell here.

Https://www.energyintel.com/0000017b-a7d9-de4c-a17b-e7dba7920000

https://www.lse.co.uk/rns/LEK/opl-310-appraisal-funding-secured-3v7s8x8iechr86w.html

You'll see from the attached RNS that Lekoil thought that it had raised much needed capital from the Qatar Investment Authority back in January 2020 to develop one of its fields. Mirabaud (Mr Krens is quoted in the RNS as representing Mirabaud as Lekoil broker) are quoted in the energyintel article attached saying the QIA funding agreement was a ' major coup'. The article goes on to explain that the 'funding' was a total scam. The Mirabaud team including Mr Krens left in December 2020 and formed Tennyson Securties at Shard Capital in January 2021.

'Seawave' which was behind the scam are covered in this article.

https://uk.finance.yahoo.com/news/people-behind-lekoil-scandal-firm-100523134.html

What sort of due diligence did Mirabaud and Mr Krens do on 'Seawave'? What was the reason he and his team left Mirabaud in December 2020? Did Mr Krens and Tennyson (appointed in Mar 2021 by COPL) advise COPL before it decided to appoint Anavio and its (scope to be so destructive to shareholders) convertible bonds in July 2022? Amongst other duties, Tennyson were appointed to provide 'the provision of financial advice on a case-by-case basis'. What advice was provided about Anavio and its bond terms? Moreover, in its role as COPL's joint broker, on what basis was Tennyson comfortable with the appointment of Mr Richardson when this ex-Mirabaud team must have known about the serious reservations Lekoil's Chairwoman had with Mr Richardson via his directorship of Lekoil Cayman?

Summit don't 'own' COPLA. They have a lien on it which can be exercised under certain circumstances. Even as/when it is exercised, fair value has to be obtained for the assets covered by the lien then, after other costs and obligations are settled, the 'excess proceeds' are distributed amongst shareholders. This is my understanding of the situation.

Https://guardian.ng/business-services/massive-resignation-hits-lekoil-cayman-board/

https://www.energyvoice.com/oilandgas/africa/ep-africa/347042/metallon-sold-stake-lekoil/

https://en.wikipedia.org/wiki/Aisha_Muhammed-Oyebode

Sources have informed that an approach to Mrs Oyebode has been made as part of on-going enquiries into Mr Richardson's past business activities. In addition to being Chairwoman of Lekoil Nigeria, Mrs Oyebode is a prominent businesswoman in Nigeria and wider Africa more generally. Her father was the ex Head of State of Nigeria and the attached comments made by Mrs Oyebode on 15 June 2021 and 1 Sept 2021 about Lekoil Cayman are clear and damning. Mr Richardson was appointed a director of Lekoil Cayman on 8 January 2021. It will be interesting to assess a first hand account from Mrs Oyebode in due course.

Delighted to hear you have no bonds or loans over here. Good for you. Anavio are a convertible bondholder and shareholder over at COPL. Their activities over the last 18 months or so are currently under much scrutiny. They have also been caught violating shorting rules by the authorities in Norway.

I'm new here but see that Anavio are one of your main shareholders. Are they bond holders here too? What do you think of them generally? I ask because of what is going on over at COPL involving Anavio.

Well, next week will be a lively one for COPL. Time and time again, requests have been made to the Company in relation to Q4 in particular. Why did you say $1 million of NGL would be injected in Oct and Nov when a review of WOGCC data says that only around $ 160,000 worth was? Where is the remaining $840,000? Why have you not commented on this vital topic having been repeatedly asked to do so? Why do you keep referring to the value of the Company's assets having such a low value when this contradicts what the Company has previously issued via RNS as well as the professional opinion given via the CPRs of Ryder Scott? If the resource is so poor, why has such a senior CRO been appointed? What do you know about Oil &Gas Mr Richardson? You state that Fenikso is an oil and gas business but a review of the Fenikso website shows that the company's sole purpose is to collect a debt. Why did you release multiple market- sensitive information in quick succession during the Christmas period then leave such poor brokerage options as the only options to avoid financial seizure? There are many other questions of course. The numbers don't lie. So many unanswered questions - for now. Stay tuned folks. So much more on its way.

Of course such rudimentary questions would usually not be asked of the Board of a main list company. In this case, however, it was vital to do so due to the extremities SH's have been subjected to along with the host of other inconsistencies. Sooner or later, this has to lead to charges of malfeasance at the very least. Show us why you are innocent Board of COPL. Why won't you answer the most basic of questions yet are happy to (mis?)use obscure OSC rules to force through Dodgy Dave finance deals without the approval of shareholders?

Quite right Sta20. RBM has asked COPL to disclose receipts and so on many times. Simple check and balance requests. Nothing forthcoming. 'Dodgy Dave' financing? Sure, no problem. Do things extend to 'Dodgy Dave' accounting too? Sure, why not? We haven't had a qualified accountant as FD for years! Companies Act 2006. This statute covers you Board members. Like us, you are not above the law. Show why you are innocent of wrongdoing and do it now.

100% spot on RBM. Where is the data COPL? Prove to us that you have not misled the market with lies not just via omission but via commission too. Prove it now, beyond all doubt. If you've done what we think you have done, you have broken the law. Too late to change that now of course. Is that why the silence is deafening?

I referred to 'an $840,000 estimated sum unaccounted for ' which was pledged by TR and the Board in Q4 2023 for NGL injection which WOGCC shows DID NOT happen. Yet COPL was deemed so short of funds that the default took place in December and COPL had to raise more 'Dodgy Dave' financing shortly thereafter. We've asked COPL several times for an interim cash summary for Q4 but have had no reply. So the question is simple: 'where is the money and, if it was spent on NGL, where is the NGL and if you've injected it, prove it PLUS explain why the WOGCC don't corroborate $1 million of NGL injected in Oct and Nov as the Company said it would do on 6 October 2023. What happened to the estd $840,000 and why has this not been fully covered weeks ago?

Take a step back buddy. Remember that a Chapter 11 wouldn't suit Anavio and they remain in a strong equity position at the moment (with the scope to protect this and their bonds). Work it all thru on a bit of paper. Many things can still happen. No fire sale just yet.

Please explain what you say? Based on the situation now, how we have got to this point, what COPL owns and that the share price is 99.5% down over 12 months, is it not possible that the share price could go up from this point? It can go down, stay the same or go up. If one suggests that it could go up based on the current situation, is that ramping?

One day it won't and will just keep going up. Otherwise, the assets we own will be robbed from us and we'll be toast anyway. Reasons to be hopeful? Protagonists rapidly weighing up what's best for them. We could benefit from the choice they make. They've never cared for us and never will. Just business and them trying to survive now they're in deep doo doo.

agree with the sentiment. that's the thing with -shall we be polite- hubris, isn't it? people get ****y, they start to believe their own bs, a legend in their own minds...then whack. that's what has happened to tr and to anavio. a potential off ramp exists for these people at the moment. let's be clear though, years and years of legal and other action lie ahead for them should they persist with a 'shaft the shareholder' agenda. there is no desire at all for the class action group to ever give up no matter how long it takes. that's how strong the will is. plus there are other forms of action too which are being actively pursued now. the action group are thinking in terms of 'years' not 'days, weeks or months'. once things escalate to that level, protagonists don't come out unscathed. remember the fca's current focus on 'consumer duty' and 'vulnerable clients' too. there will be no escape. not taking an off ramp guarantees years and years of scrutiny and distraction. maybe we'll win that, maybe we won't. but every single day they will know we are after them. just look what we've mustered in a few short weeks? we've only just started.

The forbearance agreement from the SL is due to end.