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I rarely post on any BB. Posts are misinterpreted, and attract spiteful, unpleasant replies. Anyhoo, let's try again. The following statements are, as far as I'm concerned, accurate.
1) Current WTI price is good new for COPL.
2) We have a 1bn barrel find.
3) Find has been independently verified.
4) EOR makes a significant proportion of the oil recoverable, profitably.
5) There will be a global need for oil for decades, even as other options, such as wind and solar, are explored and developed/abandoned.
Why then has a supermajor not completed a buyout?? The cost at this point would be equivalent to their annual paper clip expenditure (do people still use paper clips?) and waiting as production increases would increase the price.
I know from experience what people are actually like, as compared to how they wish to be seen. Bearing this in mind, some thoughts.
1) Given his age, this looks like Art's last throw of the dice.
2) This will be his legacy; it will be how he's remembered in the industry.
3) He's sitting on a billion barrel find.
4) RS have authenticated this.
5) This could be a licence to print money.
6)A non-exec place on the board of a JV partner may be on offer-another licence to print money
Why would he trash the company and his own reputation in return for money, when the money is there anyway??
A billion barrel find, SP falling every single day. A quick click on Google will tell you that, as I type, the SP has dropped 99.83% when you ask for the performance data over the maximum period. Why would we be concerned??
I am a lth who is genuinely concerned about developments. I don't give a f:@@k what you think, alongfortheride. I have never been called out for what you suggest. That's simply not true. I have one user name. I'm not trying to tell people what to do with their hard earned money.
I rarely post on here. Expressing concerns/frustrations is seen as deramping and attracts nasty responses. However, this morning was a new low. the post from 1509 at 9.52 did it for me. We are now reduced to considering ways to outsmart our COE, whose massive salary we pay, before he outflanks us. we have circa 1bn barrels of oil in the ground, in a stable political environment, and onshore. The only thing changing since is the date. There is a popular view that we should replace Milholland and the BoD and I'm all for it. Scanning the business world for suitable replacements, and it suddenly came to me. Let the Trotters brothers have a go!!
I rarely post on this forum. Expressing concerns/frustrations is often mistaken for deramping, and nasty replies pop up. However, this morning is a new low for me. The post from 1509 at 9.52 sums it up. We are now having to consider ways to outsmart our CEO before he outflanks us. We pay his massive salary!! We have circa 1bn barrels of oil in the ground, in a stable political environment, and onshore. Apart from almost falling off his chair, Milholland hasn't taken any other action to move things forward, based on the information made available to us lowly PIs. I know there is a real desire to remove him and the BoD, which I would fully support. To simplify the handover to a new team, I know about to blokes who travel around in a yellow three wheel van, and having observed their business acumen and practices, I say Let's give them a go!!
We have had a 10-1 consolidation and relisted at 38p. Currently 64% down on that price. Consolidation is intended to make the SP more attractive. Milholland says he nearly fell off his chair when he heard about the 1.0-1.5 billion barrel find. Discoveries. I nearly fell off mine when I read the latest RNA, and watched what happened since. Discoveries are also supposed to make the SP more attractive.
I rarely post on any BB, it tends to be less than useful, and can provoke nasty reactions. However, here goes. I am completely at a loss to understand how to match a billion barrel discovery with no increase in SP. I assume the maximum short term return for Milholland is to sell to a major. There is now independent verification of the find. We will, as a collective of global economies, depend on oil for decades, so there is a real opportunity for a major, stretching as far into the future as they will need to maximise their ROI, and then some!! I have waited patiently for the report from RS, believing it would lead to fireworks. Damp squib, unhappily. Is this a lifestyle company, nothing but a cash cow for the few?? I have been trapped in 88e, and the "jam tomorrow" post has been a frequent one. Is this 88e 2.0??
Have been very disappointed by what I have seen and read today. I am still invested in 88e, and time had proved DW couldn't find oil in a deep fat fryer!! COPL have found it in massive volume. We are, apparently, sitting on 1.5-1.9bn barrels, but the situation is no better. I have waited for the CPR, but it's nowhere to be seen, and it has not been mentioned in the information we have seen today. No mention of CUDA. How far has the bid actually gone? We were, apparently, going to grab CUDA for a song because they were circling the plughole. Perhaps the big boys are looking at COPL and thinking the same thing. Why pay Art a premium? When it goes to the wall, we can have that for a song, along with CUDA. They are sitting on a massive find but they haven't got a pot to p@@s in. Information for PIs is harder To come by than oil!! This is main market, not aim, ffs. The answer is that I don't think he's inept, but that is as close to a positive statement as I'm going to make about him. Our hard earned money pays his huge salary, perhaps the quid pro quo should be accountability and transparency.
I visit this BB regularly but I rarely post. I posted my opinion of Art months ago, and received sarcastic and dismissive responses. Now I am reading lots of posts saying the same thing I did. Unhappily, there is no point is seeing a problem and then doing nothing about it. I'm still here, and well and truly under water. I'm not inclined to trust individuals, be it Art or anyone else, but I do trust the market. The market doesn't lie. I mean any market. It will tell you what something is worth regardless of your own opinion of the value. Houses and used cars are good examples. Following that logic, the market doesn't like COPL. Adjusting the SP to pre consolidation for a moment a share worth .038p at relist is now worth .0172p. A drop of 55%. Given the news we have had, RTO, Nigeria and production figures, this is not what I expected. Options: patience or turn a paper loss into a real loss now.
Fair comment Burnley. I am indeed invested, but you're welcome to believe what you want to believe. I will take your suggestion on board, and do something about it. Hands up, I was venting rather than expecting him to see it, never mind react to my post.
27/03/2020 SP 1.10, 02/12/2021 SP 0.15. Down over 85%!! Shameful performance AZ, shameful!! Death spiral finance and a diet of empty, unfulfilled promises. No evidence of the first IM, but lots of evidence you’re not convincing anyone who matters this is a winner. I believed you, and I trusted you. Never mind, you’ll get paid again this month for making no progress, won’t you?? There is no such thing as a free education for PIs is there??
That gurgling sound is our hard earned money going round the u bend. SP down 40% in a month!! IM soon? I wish. Such a great business idea which will offer help when businesses need it. Wonder of AZ sees the irony??
alongfortheride,
I am a frustrated and annoyed LTH who has been prepared to show patience, but today has opened my eyes. I don't work for any MM or have any connection with COPL. Not sure exactly what you are thinking think or why. Believe what you like.
Have been watching this drop all day. Every time I tried post the SP has changed. It reached 23.38 and I am finally using that for calculations.
On the day of our much anticipated relist the price was 0.38. Using this as a measure, without consolidation (I wish) the SP now represents a drop in value of 61.5%, the difference as a % between 0.38 and 23.38/100=0.2338.
In view of the fact, we were given reasons to feel positive, this is a shocker. It is shameful. Posters are suggesting this is forward selling/placing. I did not know this could happen without some form of announcement.
Good morning 34 quintadolago,
17% in 5 days, and today is a long way from over!!
Price on the day of the long awaited relist was 0.38. I know we have consolidated, don’t we all!! However, had we not consolidated a simple comparison would perhaps be the price as I type being 24.01/100=0.2401. This represents a drop of 36.82%. Makes 17% look better. We have been given reason to think positively about our investment, but this is a nightmare. I had to check the price THREE TIMES when I was doing my calculation and it had dropped each time. Something is terribly wrong here. This is in freefall, and we are hearing nothing.
Today is a good day for the ten percenters. Looks like anger/frustration yesterday resulted in this being oversold. Patience is the key I suppose. Either that or click on "sell" and move on. We all make our own choices.
Interesting comments regarding the market opinion of AM. I mentioned this some time ago, and received some "interesting" comments. Didn't say I was wrong, and don't care. Here we are with the same problem. He should move on is a fair comment, but another equally valid comment is that is lifestyle has been supported for seven years by LTH. Why would he even consider moving??
Good afternoon itfc78,
I am absolutely not an employee, and certainly did not suggest/imply such. I am posting only as a rather disappointed and disillusioned LTH who was/is hoping for more. I believe my questions are valid. I really want SYME to succeed for every shareholder, be they LTH or holders for a few days.
Some questions I am mulling over
1) Did the new Non Exec come on board believing the original projections?? Not happy camper today!!
2) Did the new Non Exec come on board, look at the numbers and arrange the RNA. Not a happy camper today!!
3) What is his plan now?? 75% reduction is hard to believe.
4) How did they get it so wrong?? What data/other info were they using??
5) How much has this damaged credibility?? A Fintech company that can't do projections.
Future conversation: "We would love to do business with you. We would like to see your projections before we move forward with IM, but, hands up, we are no good at projections ourselves. Sign here please."