George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Only problem Easy is we don’t actually know if it’s performing well. They have had several opportunities recently to give us good news and help get the SP up but they don’t seem to be bothered at all. They clearly don’t give a sh..t about their investors, they don’t even make a slight effort.
Cannot understand why you would leave Aug production figures until the very last moment unless they are not very good. Honestly this company is so badly run and thought a new CEO would improve matters, if anything he is worse. Hiding away from your investors and not even putting out an interview to introduce yourself to the market is just so bloody unprofessional.
So alfista want to have a go at explaining the after hours reported trades in the last week. Normally in two very large trades adding to over 1.5M each day, I have not seen buys or sells in those numbers since I bought into this company several years ago. Even when we were on the run from 20 odd pence to £1.40 we did not see massive trades like that. You don't see any connection between these trades and a firm that unless they are completely mad should be shutting their short of 13M odd shares. I may be wrong but I don't think so.
Quite disgraceful what is happening at the moment. The MM are letting the Shorter out at mates rates. Just wait, shortly after the market closes there will be at least 1.5M unknown (buys). If people just kept hold of their shares instead of panicking the MMs would be forced to move in the other direction to gain shares. I have just written to the FCA in shear frustration at what is being done, not that I expect anything at all to be done.
I think it is easily forgotten how important the 88e Hickory 1 well is to PANR. Located only a couple of hundred meters from our boundary this is essentially a free well and flow test for us. If it is successful it will be fantastic news for both companies. It also will bring into consideration the Hot Tap we are planning on to connect to the pipe line. I am quite sure the Alaskan authorities will only want one connection to start with so perhaps 88e will share the cost or will have to pay royalties to use the tap that we will have funded.
Anyhow it will give us something to watch this winter and will be important. I am not sure what is PANR is going to do this winter as we are short on cash and I am not sure a JV can be completed in such a short time frame unless it is already being worked on. Anyhow yesterday was a nice recovery from the day before and hopefully Mangrove will disappear over the horizon as has their clearly paid for de-ramper.
I am convinced it's more than a joint venture. AM stated late last year that he expected it all tied up by Jan this year. Now we suspect that two more wells have been dug that the company is not allowed to talk about. If he thought it was all going to be done by Jan then what's the hold up been about. Could it be those two new wells have produced lots of unexpected oil and that a potential JV has turned into a buy out. That would be essentially starting talks all over again, especially as you would now be including carbon capture which is possibly worth as much as the oil. All very complicated and that's before you throw in AM and his wayward ways. No doubt the market is watching carefully. I am very surprised the company has not pushed and explored carbon capture more, even if it was just a study on the viability and potential revenues. Still a way to go but I am sure it will come good in the next 6 months or so.
Just in case anybody is interested in another Canadian Company that is of similar size to COPL in that it is producing 2000BOPD but has excellent leadership. They are also fully funded and drilling 5 wells before year end and then 3 horizontals in the new year. Just about every well has been turned to production straight away. Risky point is its working out of Columbia. However, its under the radar and like COPL has good potential. It shows how with the right finance and CEO how quickly things can move.
You are right Dickbat I am fully expecting a fund raise before the results of the next fracking effort in a months time, unless somebody comes along wanting to share the spoils but even then I expect a fund raise of some sort. They are looking to sell this field off for $5 to $10 a barrel in the ground in the next couple of years. It's never easy investing in these small companies as they always need money and you are right they often spend it like water and waste huge amounts of the PI hard earned money. You can only hope that once in a while you find a company with considerable potential that can take off. COPL is one of those companies but it has lacked leadership for a year of so now. Maybe/hopefully the new CEO will provide that leadership but he is not showing it at the moment which is intensely annoying as we were all delighted to see AM moved to the side.
Nope Bladderman I have plenty in PANR and I have plenty left here and hopefully both will do well. I have just been pointing out that a new CEO can make a huge difference and quite quickly. I had hopes our new CEO would start to make a difference but he is showing zero inclination in communicating with his shareholders.
Stas it was only a year ago and PANR where at £1.50 so there could still be a way to go yet. But yes greater potential here but it needs some serious griping and some very good news soon. Winter will soon be with us allowing another raft of excuses that they can roll out.
Not arguing with you Dick just showing what a decent CEO can achieve in a very short time frame. If only! Massive potential here but it needs somebody to grip what is a really poor situation.
PANR have over 12.5Bn oil in place the question has always been how much of it can they get out as it is a tight play. Independent report says just short of 1bn barrels. Other field is 500 million barrels.. But unlike COPL they are yet to produce anything, Both boards have not been good in the past although the new CEO for PANR who is better known on these and many other boards as Telemachus is proving to be brilliant.