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No worries mate - very hard to offend me - unlike others these days :)

G'day and Happy Easter!

Jiff, according to their holiday list, they are only closed Good Friday, only the UK has a bank holiday on Monday. Easter is Sunday.

So maybe SEDAR on Monday and RNS on Tuesday for us - please!

GLA

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
06-Apr-23 10:23:39 6.20 3,200 Buy* 5.75 6.25 198.40 O
06-Apr-23 10:22:22 5.77 189,309 Sell* 5.75 6.25 10.92k O
06-Apr-23 10:21:45 5.75 189,968 Sell* 5.75 6.25 10.92k O
06-Apr-23 10:12:09 6.00 755,333 Unknown* 5.75 6.25 45.32k O
06-Apr-23 10:11:20 6.00 755,333 Unknown* 5.75 6.25 45.32k O

The 6.20 is why Googles shows 7% up, the 10.92k trades are clearly sells, but the 45.32k not sure, I could sell at 6p a few minutes ago and still now, but they could be buys from a bit earlier. Bit mad tos ell now as hopefully news next week, obviously we have bank holiday Monday, but don't think Canada will be off. Perfect time for an RNS to come out Monday for them, as they will know before us if we get it Tuesday.

Oh well, we wait patiently.

GLA, have a good Easter.

Obviously, there were some selling this morning, with a few big ones too, but since late morning mostly buys, and again, some big ones too, most noticeably:
03-Apr-23 12:50:11 6.00 537,709 Unknown* 5.75 6.25 32.26k O
Almost definately a buy in my opinion giving some of the other smaller 'free' trades around it.

The MM's didn’t open COPL lower either, was held at evens.

So hopefully might finish at evens with some late buys, as the volume of buys have been good, dare I say maybe positive territory, and hopefully an RNS tomorrow or before the Easter break with a full update and JV/RBL news.

Maybe he just wanted to get the 'not so good' news out of the way, to clear the way for a sustained rise with potential good reel of news.

Oh, and the last few 6.05 trades are buys, as dummy selling for 6p (did get 6.0025 before), and now they bring it down on 2/3 sells, yet earlier 10 straight buys and don’t bring it up.

Unbelievable, how they get away with it.

GLA

Time Trade Price Volume Value
10:31:22 5.995 450,000 26.98k O

GLA

Last year the EoY were published after market hours, BUT there was still a RNS @7am informing that, so surely if they were going to do it after hours again, they would RNS that by now??

Possibly a mid-day RNS, as I'm sure the EoY results have to be released by the end of today.

GLA

Warren Buffet = Berkshire Hathaway

The RNS needs to have a HEADLINER just like PFC's today to attract the much needed attention!

GLA

Snap Postie!

This too a few mins earlier
11:50:54 5.375 250,000 13.44k O

Time Trade Price Volume Value
11:53:16 5.25 500,000 26.25k O
11:53:02 5.25 500,000 26.25k O
11:52:26 5.30 250,000 13.25k O
11:52:01 5.25 500,000 26.25k O
11:51:39 5.291 150,000 7,937 O

Nice...its time...

I just hope yesterday’s RNS doesn't stop there after what AM said the week before:
'Our principal stakeholders are working together with the Company to exit this period stronger than it entered with a further update expected in the days ahead.'

Hopefully the conclusion to the JV and RBL agreement will still happen in the next few days - ideally this week, as the can has been kicking constantly for the last 12months +, its about time he was honest with us and stopped dangling carrots, as that’s what has happened since the December RNS, 'potential way forward will be presented by the JV Party in early January 2023.' Its now been 3 months since that RNS and you'd think some conclusion is about to happen, especially after yesterday’s RNS.

If it doesn't and keeps getting dragged out, I think a lot of people will then let rip. We wait patiently (or not) in the coming days.

My fear of going up like yesterday and people selling looks almost inevitable, pi's are just so fed up with his management style. I don’t think 99% of people think the sp is irrelevant as most are losing.

GLA

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Convertible Bond Financing
CANADIAN OVERSEAS PETROLEUM LIMITED
Released 07:51:45 20 March 2023

RNS Number : 4970T
Canadian Overseas Petroleum Ltd
20 March 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BREACH ANY APPLICABLE LAW OR REGULATION.



COPL Announces Convertible Bond Financing of US$13.6 million committed and potentially increasing to US$14.8 million

London, United Kingdom; Calgary, Canada: March 20, 2023 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona Counties, Wyoming, USA, is pleased to announce (the "Announcement") US$13.6 million committed (potentially increasing to US$14.8 million at closing) convertible bond financing and certain amendments to the outstanding Bonds and Warrants of the Company, as described herein (collectively, the "Convertible Financing").



· The Company has signed purchase agreements with their current institutional stakeholders, and a new institutional investor, for an increase in quantum of the 2024 Bonds and 2025 Bonds with an aggregate principal amount of US$13.6 million committed. The Convertible Financing has been led by the main bondholder (the "Main Bondholder").

· The intention of this Convertible Financing is to sufficiently fund COPL for production growth, while allowing management to optimally conclude their RBL and JV negotiations.

· At the election of the Main Bondholder, for so long as it owns or holds rights to acquire at least 15% of the Company's common shares, one new non-executive director shall be nominated to the Company's board of directors. The Main Bondholder intends to exercise this immediately post-closing of this Convertible Financing.

· A further undrawn element has been made available by the Main Bondholder, should it become necessary, to ensure COPL will be appropriately funded into 2024.

· Total financing quantum is equal to US$13.6 million base principal amount drawn today, a US$1.2 million upsize option and a further US$7 million in principal, available to be tapped if required and consented to by the Main Bondholder at current terms.

· Terms of the Bonds have been amended: (1) pricing terms vs. July 2022 issue (higher issue price: 80% vs 78% on July Convertibles); (2) an initial conversion price of 6.75p or US$0.0817 (the "Initial Conversion Price") which represents a c. 15% premium to the closing price of March 17 2023 of 5.875p; and (3) the maturity date of the 2024 Bonds has been ex

Stas, that did make me smile, doesn't happen very often here!

I have not ever contacted AM or COPL, sometimes I wish I had, but if he has received abuse, that is out of order, wouldn't gain anything from that apart from just makinghim more p'd and a possible knock on the door from the Police.

GLA

I'm not sure how some still say SP is irrelevant.

Many have 'invested' her for 2 years or more, on the basis of Atomic, Nigeria, etc, and then the SP would increase and COPL would flourish, making us all money, after all, that’s why we are all here - to make money for our families and our future.

More than 2 years later we have gone from around 35p down to 6p, that’s 1/6 of the company value. OK take into account dilution etc over that time to purchase Atomic etc, but still, a lot of pi's have seen their hard earned cash dwindle. Yes, you can blame shorters, BB's etc, but AM also has to take responsibility for the Company performance - as he is the CEO.

The damage has already been done to the SP, so much so, any news now would have to be astronomical to get around 35p - 600%. Its alright for those that have bought in now or a few months ago saying patience etc, how would you feel 2 years down the line and your money had gone down to only 25% or less of what you 'invested' in?? Would you be saying the same thing then?? Just think about that.

Yes, I get the NDA, totally understand that, but AM has had plenty of time to put investors straight the correct way over the last 2 years - not by emails privately, like I say, imagine if he had released RNS's just mentioning some of the blips that have happened and explained things reassuring the market, we wouldn't be where we are now.

There is light at the end of the tunnel, the next few days is important to get us some way to where we should be, for some its probably too late, only a Take Over would save many and replenish the funds we should have had back by now, as another 2 years of this will be hell.

Just looking at the sp now, 2% down given we are on the cusp of something massive next week – un-F-believable. Small trades as everyone else is in, and has been for some time. Any other stock would be 10% up at least. Sentiment is everything in stocks, we seem to be scrapping the barrel and we have a billion of those!!

Come on AM, help us out here, do the decent thing and put us up for sale, go and enjoy your life, do you really want to do this for another few years? None of us know how long we have here, thats definately one thing I've encountered recently.

GLA

Well if anything, we should be a 'safe-haven' for others to pile in when the RNS's are released...out of the banking stocks and into O&G.

GLA

Or a T/O one and open at £1!

GLA

Hope we get the best RNS tomorrow morning just to p'off the sellers and open at 20p.

GLA

Just imagine where we would be, if COPL RNS'd items like what was said in the flaring meeting?

Surely that can't be under the NDA, as it had to be made public yesterday anyway?

It doesn't make sense, he might know whats happening behind the scenes, but that doesn't help the SP, all it will mean is that when the RNS's are released, it will jump but then pi's will jump-out knowing it will drop anyway, and traders can trade to their heart contents making more money than the so called 'investors.'

Sometimes its the little things that are RNS'd thet help continued SUSTAINED SP.

We jump 12% then drop back down to 4%, this will continually happen time and time again, because everyone knows how it works now. Even those that say 'I'm here for the long term' will sell some and buy lower.

This is so frustrating.

GLA

Look at todays intraday chart, apart from the ups and downs in the first 30mins, its constant all day, not a bump or blip, yet massive buying in the morning after the RNS, and late after the Approval (including quite a few big buys of 200k during the day), even with all the smaller sells inbetween.

This should have been much higher than 2% given the total buys all day, in comparison to the sells, interesting what can happen tomorrow and over the next few days. Think the late RNS (not 7am for some reason), caught a lot of people off guard. With decent buying, this should get to 7/8p by Friday without an RNS.

Finally, light at the end of the tunnel.

GLA

What I don't get, is we had about 50 buys after the RNS, and it didn't go up at all? How can that be?

Surely manipulation as its worst?? This should be 25% up at least with all those buys! 6-1 buys/sells and 2% up? B/S

Hopefully, so good positive news before the weekend, still a long way to go before most would break even, only those that bought in recently (or sold as the big drop happened and bought back in again under 7/8p) will make a substantial gain.

Still think T/O is the best outcome for all, as most are fed up waiting and waiting with the can being kicked constantly. Another 2yrs of the past - no thanks. Just a few more days for something...

GLA