Member Info for Sageman

Pilot, you said the saviour of COPL not that investors needed the JV to get their money back. The saviour of COPL will be well makeovers that lead to commercial flows of oil with resultant cashflow and profit. That is already well underway.

FWIW I have always believed that Art deliberately neglected maintenance in order to get CUDA so cheaply. That has bitten us hard due to poor weather, failure to rapidly increase oil flows thereafter and resultant wonga financing. From here it is simple . We have the oil ,we need to access it. 51 sq miles. 3 wells psm. 1000 -3000 bopd per well. The prize remains which is why we all invested.

Pilot, I disagree. The JV is not the saviour but we needed the sp to rise to stop the excessive dilution from bondholder conversions..

Thinking things through logically the JV is the real game changer here. Yes a JV brings cash potentially but the real value is the acceleration in the speed of accessing the oil. A barrel of oil today is worth say $85. What would you pay today for the same barrel delivered in 5,10, 15 , 20, 25 years.? No surprise that the NPV of the oil decreases with the time to access it. Thus NPV of oil in the ground comes at substantial time related discounts. Now enter JV partner with deep pockets who facilitates oil extraction 10 times faster. The value rockets. I accept some of the reasons that posters have posted for the rise but sentiment aside and allowing for the fact that the JV is not signed this would be the financial game changer. Hope this helps.

I also have money in COPL which has nearly trebled in just over a week after a massive fall . Fortunately having used the fall to buy more my B/E is on the horizon and the same thing applies here. I thought this was a steal at 1p taking a 2 year view and still do so at this price it is incredible value. To me the current SP defies belief and is the product of GL’s lack of financial discipline and lies. Trust will be rebuilt solely through robust production and firm commodity prices. If you believe this will happen this share will reward you from here. GLA

U complete and utter dog (UDOG). SS the great diluter and destroyer of wealth aka Billy no shares still taking the p1ss out of investors.More new lows. Sanderson you are a disgrace glad I sold. Hope you rot in your soiled underpants.

As an LTH I sold half on JV news hoping to buy lower. Have had to buy back higher, lol! But by buying another 500,000 on top have still managed to increase my holding and lower my B/E. Not what I planned but better off than a week or so ago so not all bad! GLA

Every long term holders nightmare. You sell some on a spike , then it drops a bit and you wait for bond conversions to buy back in, but they don't convert and the price moves ahead again. As a percentage play the strategy works but not every time. I sold 1m on JV news last week hoping to buy them back in the low 1's. Still might happen and still in a much better place than prior to the JV news but most frustrating.

HITS as usual some very informative and well researched posts irrespective of the motivation. As you say the next 2 years are pivotal and in the meantime we are hostage to gas prices. If only GL had produced when he was supposed to when we could have sold at $600 and been debt free, lol. We are where we are but a winter at $200+ would be transformative. Oh for some transparency!

I wish but more likely more bond conversions next!

Disappointing to see the SP only at 2p on this news. Guess everyone is waiting for the inevitable bond holder conversions. Thus traders see this is a spike that enables sells to buy back lower once conversions continue. SP aside and short term trading aside great news..

I said at the weekend that you may get to buy at 1-1.5p before the SP stops falling and that bond conversions made this currently uninvestable. I had no wish to be proved correct.

Every time I think of buying the intelligent thing would be to sell. As a holder maxed out at 15p this is just sickening. Art , thanks for the death spiral financing! Looks like spikes are 2.1p now.

Pang, your portfolio, your call. When I average down and go overweight I try to sell back down to the original weighting as soon as I can. Historically this strategy has paid off for me.

Ely, the game changer is an extra $300k Pa and markets seeing genuine progress in operational performance with a focus on debt repayment. The sp should trend positively but if you want to short…..

Push, you say you green box and are leaving then hang around like a bad smell. You know the square root about money and come here to mislead. Do one.

Warren, I am fully invested. Up to my 2% portfolio maximum. What others do is up to them. I wish them luck..

Every week we get more bond conversions at bargain basement prices thus translating into excess dilution and this excess dilution will continue until/unless production ramps up or we get the JV. Why buy today when you can buy cheaper tomorrow unless you are a clever trader? Our MCAP at 10m is ridiculous but reflective of an equally ridiculous death spiral financing scheme and a CEO who is not fit for purpose. I remain invested and still believe that with a JV and well makeover those who invested at 30p plus will make money. Short term I wouldn’t bother buying (for the reasons stated above) but if you have a 1 to 2 year time horizon buying at these levels could look very astute in 2025 (even if in the interim it falls to 1-1.5). GLA

How could I be so wrong WG and I thought that you were just someone with a decent handle on financial matters, 😂

Just checked my posting history. May 28th I said that debt was 25-30m. Not a bad guess!