Member Info for saintnick

Shouston - looks like development over at CC as well. Just off the 256 on the county line. 5 big red containers, type unknown. Plus at these 3 of the others pads look cleaned up since the last time I checked months ago.

Un_Known - Exxon, well there's a surprise most saw coming! I believe that to be accurate given the historical and current links between the Co's.

Can't quite remember if it was our virtual CFO Ryan Gaffney or SWP's Natalie Smart that added Nicole Bennett of XTO (Exxon), Technical Records Manager, to their LinkedIn.

Either way, loose lips do indeed sink ships and someone will talk eventually. Too many people know exactly what's happening here and it just takes one to expose the truth.

RBMInvest - as always, great work by yourself and the CAG. Very much appreciated.

Agreed, money back is the priority. The question asked was do I believe Mr Cotter would chase Summit, given enough evidence I believe he would.

I'd imagine the targets will be set on an individual basis, not a collective of bad actors, so the more we have the better chances of success.

SteveV - I'm realistic about the prospect of actual justice (jail) in this matter but, without knowing the man just what I've researched, I believe Mr Cotter would follow the evidence to a conclusion that made sense not just for his clients but also his reputation as a no holds barred litigator.

Winning a winnable case is great for those who bring it, and yes a fee can be taken and everyone moves on. Winning a case of this size against the array of lawyers our opposition have thrown at this (over an empty box, apparently) is career making and chances like this won't come often in that career.

I have faith, blind or otherwise, as I know we've been shafted by people who thought we'd go quietly as has happened countless times before. This time it's different. If we get something back then great, if we ruin a few charlatans gravy train ride even better.

Anavio, Gaffney, Tosca, Richardson, Summit, Millholland, McCarthy Tetrault, Cowan or even BP. What's the difference? They're all self serving and we've paid the price, so far. If Summit end up in the cross hairs through discovery then yes, I believe he would take them on, why wouldn't he.

I think they should follow the evidence wherever it leads. If Summit are involved beyond their current role of victim, then expose them. A Corporation isn't an entity it's a collection of executives motivated by money and power. Enough have gone to jail to prove that this combination can often bring out the worst in people.

Settlement seems to be the general way our situation gets sorted so the more shenanigans exposed, the higher probability of a favourable outcome. Nobody should get a free pass if they're involved.

There are no clean hands in this, the low hanging fruit are the 'Directors' and I use that term to acknowledge their titles not their abilities. Next is anyone else regardless of size or influence.

I'm interested to know more on the SWP situation from Un_Known. They stood out in the court papers months ago so if they're now relieved of duties in favour of another operator that suggests a long planned strategic move, not a desparate need to save the company as touted in the Courts.

On what basis do you know Summit have done nothing wrong?

I've noticed in a few of your posts you seem to be very keen to absolve Summit of any responsibility in this whole sham.

Can you clarify on what basis you think these particular money men are better than the other money men who sunk us? Summit could've stopped this at any point but didn't. Summit now own the assets which was always going to be the outcome in a death spiral finanace deal that they approved.

Only one loser in this scam, us. Everyone else including Summit have benefitted.

Thanks RBM. For balance on my part, it could also be a filing error by the court clerks. Trouble is, when it comes to COPL I see conspiracy with all involved.

I found the Service Lists for the Ted Baker hearing dated last week, May 28th, and Trichome Financial Corp. On them, both Cassels and Blakes are listed but with Blakes correct address at 199 Bay St.

RBMInvest - what do you make of Anavio using the same Toronto law firm as KSV?

That can't be a coincidence and Summit appear to be the connection. Looks dodge to me, especially changing the firm names but operating out of the same office.

Also, how would Summit knock out Anavio (debt wise) without also having to cancel all the shares in issue as they hold 17% (from memory). In that scenario, i dont see how Summit could do anything positive for current shareholders if they actually follow through with the restructuring, which I'm very doubtful of.

Wwal17 - spot on. BP 'ignoring' the biggest onshore discovery in decades. Why, just why, would an O&G major do that? Because they just want their $12m back?? Don't think so.

Two reasons i can think of.

First, it doesn't exist. But i'm not buying that for a second. Ryder Scott wouldn't put their reputation on the line for someone else to profit.

Second, smoke and mirrors. Look away, there's no oil and lots of debt. Oh, but to recover our debt we might have to do a deal with Summit. We really don't want to buy it but we have no choice.

And its all court approved so 'legit' for media purposes.

Have SWP been discharged yet? What does 'substantially all' mean in relation to COPL's assets? Why are Shoreline still a thing? It's nice in Bermuda.

People focusing on just the money need to dig deeper, the answers are in there somewhere. Who operates the fields if SWP aren't there? Where is the monthly revenue going now the interest payments and directors aren't being paid?

Who are COPL's auditors and what information can they be compelled to provide, to the shareholders, in a court hearing?

We may never know, or maybe we're about to find out. June you say Un_Known, how about making use of that mailling list at the end of the Service List and that report you had in March!

I'd question why BP mention Spectrum Energy's CFO thinking the bid floor price was too high based on his own investigations.

Sounds like they're pushing their own low ball narative rather than industry acknowledged facts surrounding the discovery.

They're not going to help us.

It looks pretty suspicious to me.

KSV law firm: Cassels Brock & Blackwell LLP

Anavio law firm: Blake Cassels & Graydon LLP

Both firms operating from:

Bay Adelaide Centre - North Tower 40 Temperance St, Suite 3200. Toronto ON M5H 0B4

What are the chances??

And why use two different named clearly linked law firms?

Summit brought in KSV via Province.

Summit didn't stop Anavio when they could and should of.

KSV and Anavio now have the same law firm, who is the link?

Ryan2007 - correct. It should have value, thats the point. Nobody apart from us shareholders is recognising that, in fact they're ALL deliberately not mentioning it.

Find one point of reference to the RS report or discovery in the court papers. It stinks. ALL involved either know we were or lied to about CC or know what's there. The RS report is now public domain so why doesn't one of the involved parties make use of it

SteveV - i'd question why they're not highlighting the RS report as part of their process.

I dont think BP will be doing us any favours, best to focus on the instigators as the legal routes to compensation are easier to prove against these individuals.

For all the effort involved to grab the asset, Summit won't be giving it away but the eventual owner will need to show a 'legit' route to ownership. Unlucky for them i guess as there'll be years of noise around this deal if we get nothing back.

Anderson Affidavit Section 28. BP values COPL assets at less than $56m.

They use the same technicality this scam is based on, not proving up CC. By leaving it untouched in the ground it has no technical asset value.

Ryan2007 - the link between Summit and Anavio appears to be KSV. May 17th Service List, KSV and Anavio have the same law firm based in the same office in Toronto. Different company names, same outfit.

I'll start that again...

I think there are important questions to answer around what info the CAG do have or dont. I dont need to know all, just if they signed the NDA. If they didnt, this needs to be stated clearly in a response to the court documents.

Stas20 - i think there

I've no idea who's in or out of this scam, i do know that it'd take multiple parties to pull it off.

As for moral compasses, i'd point to the BP pensioners and Deepwater Horizon. Neither crown the company as the bastion of moral or ethical standards. I guess we'll find out in a couple of years when the court cases are over and the noise stops.

My money was on Exxon as the eventual owner, given the smoke and mirrors at play it probably still is. Huge ?? for me is what CNOOC think about all this. 15% of BFSU is not to be sniffed at, do they still own it?

This is an old article but highlights the power and reach of BP. Whilst reading I was minded to think, as i've done previously, that Summit don't know a thing about running an O&G co and will need to pass it on quickly.

I was also minded that BP should have seen this situation coming, and probably did, so this late appeal seems out of character for such a knowledgeable company that could have intervened much earlier.

https://www.risk.net/commodities/6631216/deal-of-the-year-north-america-bp

Plugging costs being an ongoing liability is also an interesting angle for avoiding bankruptcy, who does that ultimately benefit as COPL wouldn't be on the hook.

Jazzyjim - the transcript is available on AWS, public domain for a while so no secrets being shared.

Can't post the link but type "aws copl shareholder group may 23" into google. Be warned though, it's long and full of the usual from Arthur.

I understand everyone's situation will be different, the way i see it with £40k gone then £550 to get even 10% back is worth it.

The alternative is spending the next few years checking the canadian obituaries until i can finally move on from this outright theft. I hold my hands up to all my previous bad investments, but this was something else much worse.

I still have my copy of the Ryder Scott report (thanks Unknown) which proves this wasn't a bad investment, just bad actors involved.