RE: Authorised Post from Shareholder Action Sydnicate19 May 2023 16:30
Here was my efforts from last years questioning.
Shouston Premium Member
Posted in: COPL
Posts: 5,304
Price: 17.70
Strong Buy
AGM report17 May 2022 02:05
First observations
This was the first time in two years that all of the BOD were in the same room. All booted and suited and looking swell.
They had been working on the Q2 release since 9am, and were looking collectively promising. I can't access Sedar so am not sure what they have released.
There was approx 10 other attendees with about a further 15 online.
Formal part went as expected. Art and team were voted in for another year.
Art then presented the company overview stating it had been a transformational year, and on track to deliver.
Cuda will be finalised through courts between 10th June and 10th July. It appears that we bought CUDA Pro rata less than we acquired Atomic..Good.
It seems that talks with reputable banks are going well, CFO is talking to several interested parties.
RBL is anticipated in q3.
They believe that Shannon is more volumetric based on levels of flooding required to stimulate it. Now in balance, they just need to sort out the pressure issues.
On the deeper find, it looks like RS are on board with our thinking/analysis. Report was expected last week, but most likely ready in one weeks time.
Our drill plan will be completed in about 1 months time.
I was the only representative from UK. He also seemed to be expecting me and, 'our'', questions.
Shouston Premium Member
Posted in: COPL
Posts: 5,304
Price: 17.70
Strong Buy
RE: AGM report17 May 2022 02:24
Our questions and the responses.
It been two years since Atomic acquisition, SP is approx half since suspension. When is BOD going to deliver value to shareholders.
Response, lots of uncomfortable moves from senior team.
We do not control the market , I know who you are and that you have lots of prepared questions. Social media is driving sentiment. COPL has been quite due to legal constrains.
My retort, but now CUDA is in the bag you can begin to improve comms. (I think coms will be improved going forward)
Art, what is your personal strategic end game. Build for production or build for JV or sale.
Response, Does not want JV at this early stage as they will want too much. Plan to build production and then in combination with the deep finds look for partners. At this time he is thinking of self funding the future expansion. (All good IMHO)
Share buyback and dividends, are they a medium term plan.
Need to obtain new finances before this can be considered as Current lender will sweep account and nor allow this.
When do we expect Ryder Scott to report their findings.
Estimated to be last week, but it seems they are aligned with COPL analysis Current thinking is one more week.
End of meeting.
Art came over to myself and Canadianoilsupporter, and introduced himself and the rest of the BOD, he thanked me for taking the time t
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