Member Info for RodneyT

It's all an unknown to us we. Keep your eyes on the money. Anavio have obtained a large percentage of COPL for peanuts. They will now want to maximise the advantage pertaining to that new position. Think about how they can do that prior to 29 Feb when things shift towards Mr Kravitz and Summit. Dwell on that and please post. None here know what will happen. We just have opinions. Most interested to hear yours.

Perhaps. The Company's assets have a value which have scope to be huge. For this reason, things are not over just yet.

Interesting to read M. There's much more to this than we know currently. The next few days will likely be exciting. Anavio have to get the pressure off of them somehow. It's not turned out how they'd hoped. As things stand, multiple pressure points exist for them.

Perhaps your opinions are correct. BFSU has significant 2P reserves. Anavio remain a major equity holder and the RS report revealed very valuable assets. Time will tell what happens. We just don't know. What we do know is that Peter Kravitz has an outstanding reputation as a restructuring officer with huge deals under his belt. His appointment to 'tiny' COPL, a company with 'huge debt and few assets' looks most odd on the face of it. The period between now and the end of the month should reveal a bit more.

How good it would be if the wider world comes to know of the activities of these people.

A source suggested we take a closer look was taken at Atul Gupta and Tom Richardson in the context of Nostrum Oil & Gas and COPL so we've done that.

Mt Richardson was at Nostrum Oil and Gas between 1 September 2016 and 31 Mar 2020. During this period, he served as Chief Financial Officer. Mr Gupta was there at the same time; always as a Director and also as Chairman and, latterly, Executive Chairman. In July 2017, a $725 million five year bond was issued by the Company with a fixed coupon of 8%. The co-manager of this issuance was Mirabaud Securities. This is shown in the 'Deals' section of the Tennyson Securities website. The Mirabaud team (including COPL joint broker, Peter Krens, moved from Mirabaud to form Tennyson in 2021).Bank of England Base Rate in July 2017 was 0.25% so the coupon of 8% was 32 times Base Rate. For the period of time that Messrs Richardson and Gupta worked together at Nostrum, the company's share price fell by 98.09%.

The pair worked together again at COPL between 2 November 2023 and 18 January 2024. For this period, COPL's share price fell by 94.54% so a little less than at Nostrum but over a much shorter period of time.

In the 10 January 2024 RNS in which Mr Richardson's contact details appear as Chairman, it is stated, among other things, that the Company 'was informed by two brokers in London that there was no institutional interest in funding on the same tersm or better than those proposed by Anavio'. WHO WERE THOSE BROKERS? WERE THEY TENNYSON SECURITIES (PETER KRENS) or HANNAM & PARTNERS (ANDREW CHUBB/NEIL PASSMORE)? Also, did Anavio or COPL pay an arrangement fee for the fifth Anavio fee? If so, how much was it and who was it paid to?

Please make any comments you might have. More updates will be shared very soon. Plenty to share.

How do we know they don't based on our knowledge of the RS report as well as the incoming Engineer's report on BFSU? Also, Peter Kravitz is a top grade US restructuring specialist with past successes into the billions of dollars. Don't you think it a little strange that he is now involved with 'tiny' COPL, the little business with 'lots of debt and next to no assets'?

Good evening all,

So much research being done at present. Working as hard as possible to get these out for your consideration this week. A source suggested that we had a look at TR's short resume in the RNS dated 20 April 2023. The annoucement that Mr Richardson had been appointed as Non-Executive Director described him, amongst other things, as 'Chairman of Fenikso Limited, an Oil and Gas company listed in the UK...'. Fenikso is indeed listed on the (small) Aquis market although a review of the Fenikso website reveals not only that the Company is incorporated in the Cayman Islands but also two other points of interest: 1. 'The Company owns one main asset which is a USD 51.9 million loan made to LOGI'. 2. 'The principal business of the Company is to manage and ensure the full recovery of the LOGI loan'.

Ladies and Gentlemen, does that sound like an 'Oil & Gas Company' to you? Or does it sound like a loan company?Would you trust Mr Richardson to know the difference between petrol and diesel if he was filling up your car? Moreover, the 20th April 2023 annoucement said that Mr Richardson had ' over 20 years of experience across banking oil and gas'. Just how many of those years were spent 'at the pumps'? Does Mr Richardson know anything meaningful about oil and gas production? If not, why did he present himself as he did in April 2023? Thereafter, why was he appointed as a key executive at the beginning of September 2023 just as COPL was heading into a critical time for production at the Company? Who made/influenced that decision? Comments please and more to come on various topics this week.

Interesting news RBM and most welcome. Is it now 'Fight or Flight' now for Anavio. The situation has changed. They have had to change too. How can their best protect their liberty, reputation and bank balance in that order?

Obviously you have a reason for saying that and can back what you say up with evidence. Can you do that please? Perhaps you could start by showing us why RBM is 'a conman'?

I don't agree with what you say. There are many reasons why I do not. Among them are the reasons why Anavio worked to push the share price down, their new large holding of equity, what they intend to do with that, how they will manage risk to their business from the FCA, Canadian authorities and private investors. How they can make maximum money from here too ( Do well at the JV negotiating table as a shareholder).

How can Summit 'foreclose' if Anavio ensure that all terms with the senior lender are met by COPL henceforth including all payments up to date?

The option is there to convert if they wish to BUT the job is probably done. They have good equity now. Plus, we don't know whether the FCA has nudged them not to sell anymore. I sense Anavio are through with conversions and shorting. They see themselves as a long only equity holder now. Plenty of money to be made from here on that basis and far less risk. They have their equity now and have acquired it very cheaply.

The SL is limited in what it can do so long as the loan terms are adhered to and COPL remains 'cashed up'. Anavio and Tosca will be well aware of that as shareholders and will want to protect their investments. The SL has much more power if it has reason to pursue its lien claim. Anavio and Tosca will do everything to avoid this. As equity holders now, their objectives could be fairly similar to ours. They want maximum value for their shares now having acquired them so cheaply.

Well if they thought that and believed it, they will henceforth rue the day they did. The pursuit of a just outcome here may take years. So be it. No line of enquiry will be ignored, every protagonist will be examined and a variety of legal steps will be taken. There is no chance whatsoever that there will be anything 'easy' about any 'win' these people believe they might achieve. They've won nothing yet. The FCA and its equivalent in Canada are involved. Certain potential crimes here that may have been committed can result in long prison sentences and lives ruined. This is why the legal system is regarded as a justice system. Protagonists, you may have enjoyed 'easy wins' in the past but not here. Not this time. This time is a grind. A slow grind on and on. We know who you are. You know we do due to all the things that have happened to you over the last few weeks. It's only the start of course. Our side is enjoying pursuing you and we've only just got started.

Extracts from a letter to shareholders of Lekoil Limited from the Chairman of Lekoil Nigeria Limited dated 3 Dec 2021. The Chairman was London-educated lawyer Dr Aisha Oyebode who still holds that role.

"compensate a group of shareholders purporting to

protect the Company’s interests, but in reality are determined to destroy all value in the company.

As fellow Shareholders, the Board of directors of Lekoil Nigeria Limited (Lekoil Nigeria) received the

AGM Notice and no doubt experienced the same dismay and disappointment as experienced by the

many Shareholders who have been in touch with us. The same Board of directors of Lekoil Limited and

activist Shareholders that asked you to place your trust in them and promised you improved corporate

governance has displayed a pitiful disregard for corporate governance and a singular determination to

destroy the company.The Board of Lekoil Limited has entered into a Convertible Facility Agreement (CFA) pursuant to which

Lekoil Limited will issue 40 million shares in Lekoil Limited (representing about 7.5 % of the issued share

3

capital) at 0.5p per share, a discount of approximately 50% to the last trading price prior to the

suspension of trading of Lekoil Limited. Pursuant to this CFA, shares will be issued to entities controlled

by two directors, Thomas Richardson and Marco D’ Attanasio, and an unnamed and unknown third

person. Why will the Board of Lekoil Limited not disclose the beneficiary of this right to convert into

shares of Lekoil Limited at an over 50% discount?"

The principal requisitionist, Metallon Corporation, owned by Mzi Khumalo has purportedly disposed of

its interest (yet his appointee and the Chief Executive Officer of Metallon Corporation, Thomas

Richardson, inexplicably remains on the Board of directors of your company.

Twelve months ago, Metallon Corporation requisitioned an Extraordinary General Meeting (EGM) citing

inadequate corporate governance on the part of the then Board of directors of Lekoil Limited. The

requisitionist sought and obtained the appointment of three directors, Mr George Maxwell (the only

suitably qualified nominee), Mr Michael Ajukwu and Mr Thomas Richardson. Since the Requisitioned

EGM, George Maxwell, Michael Ajukwu and myself have resigned from the Board of Lekoil Limited. The

Chief Financial Officer (CFO), Ed During has also resigned from his position, citing his inability to

continue with a Board showing blatant disregard for the views of the CFO and a propensity to mislead

regulators.

The principal requisitionist, Metallon Corporation, owned by Mzi Khumalo has purportedly disposed of

its interest (yet his appointee and the Chief Executive Officer of Metallon Corporation, Thomas

Richardson, inexplicably remains on the Board of directors of your company).

Corporate governance has reached an all-time low under the stewardship of Executive Chairman,

Anthony Hawkins. Mr Hawkins has clearly shown that he is not representing the interests of

Shareholders as a whole, but that of a clique of Shareholders who have taken control of your company

and whose behaviour since then has confirmed their sole intent was to gain outright control and strip

the assets of Lekoil Nigeria.

What did AM have to do with the behaviour of COPL's Directors during Q4 2023?