Member Info for Sageman

Can people please be kind to Tradevol. He has his 50 shares for a tv license and that gives him every right to post here. Lol!

Good to see the sp moving up following Arts last podcast. It has not been pleasant holding with a B/E of 28p but I have always taken comfort from the fact that ART spent 400k at an average of circa 24p. I always thought that holders here were delusional thinking that in an open market we could pay $2 per barrel of oil for Cuda and that the value would multi bag next day. There has been much remedial maintenance to sort. 2023 should see the financial outcome holders here desire via production increases, new wells, JV , RBL or even a take over. I see the risk reward ratio here as very high given our reserves. Good luck all

Push, welcome to our world! Ideally there would be a clear RNS detailing the precise terms of the hedge. We wouldn’t then have to guess. GL deliberately did not give us details and we have been left guessing about rollover of the hedge until we get a placing. So that’s the financials. In the drilling world I refer you to the previous few years. Missed deadlines by the score. The result was that we would have been bankrupt but for the Ukraine war. Had GL produced in the summer we would not be worried about the hedge. The idea was to get production banked before any hedging. In your world you said that the development now is excellent. A few days later we get the truth…more delays. It doesn’t matter what your skill set ( finance or mining) GL has the ability to confound. As I said, welcome to our world!

Show me the money comes to mind. Production is still poor and the sp would have fallen were it not mitigated by news on RBL , JV etc. The reaction of the SP shows that the jury is still out. Art needs to deliver in the 1st quarter. Fingers crossed

I work in finance and was never happy with the explanation given regarding the hedge and somehow rolling it over. There was never any detail. Those of us who queried it were shouted down. Push did say that these projects tend to overrun and he was amazed at how well they claimed to be doing. Hmmm well they weren’t! Company reverts to type. Complete shambles only rescued by stratospheric gas prices. Come end of 1st quarter we should still be fine. GLA

Hemmings, Push mentioned it. I asked him a question and neither of us post on UKOG.

Agreed, buy on dips sell on spikes. But with U complete and utter dog ,whilst run by SS Aka Billy no shares the great diluter and destroyer of wealth, the dips just become future spikes. 0.06p and sinking. I got out of it years ago. Do you believe it has any future?

Push, firstly may I thank you for your excellent posts. You clearly have industry knowledge and it provides much needed balance. You are however new here and many posters share a long history of missed deadlines and underachievement. If you check the SP it was over 10p. People averaged down at 4p then had to sit and watch at 0.65p. Some like me then averaged down again. I sold a pile in the early September spike and now have a healthy holding with a B/E in the low 2’s. I am now very comfortable and positive but whilst new investors sit with low b/e’s and think that George is great some of us have long memories. We got very lucky rescued by stratospheric gas prices. The fact that things are making great progress with new found competency is most welcome.

Hi , is anyone else having problems accessing the COPL website?

I was taking a look at Exxon. Interesting they are doing 50bn (yes billion) of share buybacks. They could literally buy us out of loose change. The questions are do they want to, on what terms and would it be a buyout or JV. If you assume that they (or a similar entity) want to it explains why the RBL has gone quiet. They are literally dripping with cash and would find it an irritant. So yes the SP is disappointing but I remain positive. GLA

The thing that I got most out of the MB presentation is that Mongolia needs a substantial increase in oil production for their new refinery in 2024/25. It follows that in that environment we will get what we need to get producing and local objections will be overruled.

STAS - True but both parties have lawyers and COPL is not large! Changing the subject in my company we have been trying to introduce some new admin processes. Focus groups, meetings, meetings. Agreed after 6 months and still to be implemented even with no lawyers! Things just take time that all I am saying.

FWIW I have been involved in mergers and acquisitions and the process is painstakingly slow. The due diligence takes ages since the lawyers drag it out and ask as many fee earning questions as possible! Any JV was always going to take time. As an example I know of a company purchase that took 15 months from start to finish with both parties literally champing at the bit to get the deal across the line.

Art thought this was a bargain at over 30 and averaged down to 24 only a few months ago. A CEO knows things we don't. He can control the company but not the market and I assume he is bound by non disclosure agreements. He is either delusional and enjoys wasting his cash or genuinely believes . I cross my fingers that it is the latter. I have my self imposed maximum if not I would be buying more. GLA

Fish, why put money into a lifestyle company? SS at UDOG wouldn’t put a penny into his lifestyle funding excuse of a company.

So in an open market with full disclosure Art pays $2 per barrel (CUDA) and the geniuses here think that next day people will value it at $10. Personally, I find the comments here to be mainly laughable. There is much work to be done to realise the value and it all takes time. Patience is required and in the meantime I see that many posters open their mouths merely to change foot!

A lifestyle company is one where you just keep taking money. Think UKOG. An investment is one that yields shareholder returns. Art put circa 400k of his own money (tax paid) at circa 24p into this which is a lot more than the gamblers here. He clearly believes……

I take heart from the fact that Art has invested circa 400k during the last year at an average of circa 24p. Also you don't buy assets (Cuda) for 2p and sell them at 10p next day. Maintenance is required to bring up production, plus drilling, plus RBL, plus JV ...it all takes time. I am disappointed at the current sp but believe this will come good and have patience. This time next year Rodney....

The only good thing about the sp was it allowed me to sell at a loss for CGT purposes and move the net proceeds to ISA’s for the entire family. Assuming the sp recovers the cgt loss is most welcome. Meanwhile the market awaits news. Proper news via RNS. Increased production, RBL, JV. Everything else here is hot air be it by rampers or derampers. If you expect good news hold, bad news sell.

The market awaits news..increased production, RBL, JV meanwhile the price range trades.