Member Info for specinvestor99

https://www.webull.com/quote/nasdaq-elep

2022-03-28
Public Filing
View Prospectus
2023-01-26
Offering
Price Range: 4.150~5.15
Shares to be Issued: 1827.96K
2023-02-08
Offering End Date
Offering Price: Pending
Post IPO Outstanding: 14.06M
2023-02-09
Liste

LOL no one here is 'touting' ELEP but merely quoting US sources which says ELEP about to go public at between $4:15 and $5:15

Timing is everything when shares of these small companies are purchased. I am sorry you lost money

another source https://www.valuethemarkets.com/analysis/ipo-outlook-cubt-elep-nrxs

Elephant Oil Corp (ELEP)

Elephant Oil Corp is scheduled to IPO on February 2, 2023, according to FactSet.

The Company is listing 1,827,957 units, each consisting of one share of common stock and one warrant to purchase one share of Common Stock.

The anticipated IPO price for each Unit is between $4.15 and $5.15, and the stock will be listed on the NASDAQ under the ticker ELEP.
What Does Elephant Oil Corp Do?

Elephant Oil Corp is an independent oil and gas exploration stage company led by an experienced management, and technical team focused on under-explored African regions.

Its current asset portfolio includes exploration prospects onshore in Benin and an exploration license onshore in Namibia. To date, it has not drilled any wells. Additionally, the Company continues to review other potential assets for expansion.
Who is Leading the ELEP IPO?

Spartan Capital Securities are underwriting the Company's IPO.
Use of ELEP IPO Proceeds

The Company plans to use the funds raised as follows:

Approximately $4.5m to mobilize a drilling rig to Benin, commence exploration and drilling activities, additional surveys on Block B, and pay license fees in Benin.

Approximately $0.3m for initial surveys and license fees in Namibia.

Approximately $0.2m for further expansion of portfolio or further exploration activity of existing assets.

Approximately $0.9m for repayment of debt.

Approximately $0.1m for working capital and selling, general and administrative purposes.

Elephant Oil Corp. IPO February 1-2, 2023
see https://www.youtube.com/watch?v=cGlrcgBSfxs

this was posted on u tube early Jan 30th

interesting all recorded buys with no sells but not a lot of trading activity.
Hopefully AB's trip to Congo will come up with $ this time

LOL really "last chance" What are your plans?

wow thats great news. A post like that is usually a sign that shares have bottomed out.

BS-Are saying the Congo news about the arbitration is not true? or false or misleading in some fashion?

see https://www.glencore.com/media-and-insights/news/glencore-reaches-agreement-with-the-democratic-republic-of-congo-over-past-conduct

Glencore reaches agreement with the Democratic Republic of Congo over past conduct
posted: 05/12/2022

Baar, Switzerland
5 December 2022

Glencore has reached an agreement with the Democratic Republic of Congo (“DRC”) covering all present and future claims arising from any alleged acts of corruption by the Glencore Group in the DRC between 2007 and 2018 (“Agreement”). This includes activities in certain Group businesses that have been the subject of various investigations by, amongst others, the United States Department of Justice (“DOJ”) and the DRC’s National Financial Intelligence Unit and Ministry of Justice.

Under the Agreement, Glencore International AG, on behalf of its Congolese-associated companies, will pay the DRC US$180 million and will continue to implement in the DRC the Ethics and Compliance Programme the Company committed to continue to implement in its resolution with the DOJ. The Agreement is governed by Congolese law and the only admissions made are in respect of the conduct already acknowledged in Glencore’s resolution with the DOJ.

not much trading activity and what trading does happen seems to be mostly selling

RRR needs news about positive results- too much waiting for: Congo arbitration. Elephant Oil IPO, Australia etc etc

its getting hard to see with my rose colored glass from the smoke and the light from the mirrors

very frustrating that on Jan 20th there still nothing new on Congo despite an apparent trip to Congo

suggestion to RRR-at least monthly (preferrably twice a month) a report on the various activities work on

lol of course RRR is being for this report. I see so much of this in North America (Canada and the USA). The "Research" company still has to justify their "research" so it is interesting but hardly independent. IMO these reports are done to lure future shareholders and to convince current shareholders to hold onto their current shares

to paraphrase an old quote on the market

"AB can remain positive longer than I can remain solvent"

totally agree with your comment "No doubt we will all find out in due course BUT I find it infuriating that ALL shareholders are not treated in the same way as others, clearly Helpful and his chums have a clear idea of what is going on at all times, that is wrong."

last I heard was a voice message posted by AB on Signal on Jan 6th (I think thats right) and AB saying he was soon going to Congo

Anyone heard of anything? anywhere?

Clearance from the SEC is based on disclosure not on the merits of the investment. For example following up on your comment, if the materials state there is no agreements, no actual business and the money will be spent paying out feees and debts and no actual business will ever ever be conducted and the company's BOD do know what they are doing that can be accepted by the SEC as accurate disclosure and be accepted..

SEC registration is based on disclosure not on the merits. Acceptance from the SEC is separate from receipt of funding which in the case of ELEP disclosed a "firm commitment" meaning Spartan guarantees ELEP get the $$$$

LOL Did you forget AB had a sucessfull outcome in Kenya. Stared down 2 Kenyan Presidents and multiple ministers then took it international eventually Kenya had to back down

In Congo dont forget RRR already won court case. The issue properly framed is " Will the Congo follow the written agreement ? The court has already ruled so the issue has already been solved. The problem/delay is the losing party does not want to acknowledge it and is delaying the process. I know this happens in Canada and USA. OJ Simpson still has not paid his judgements to the Simpson family for 10++ years.

These countries all welcome and need foreign investment if those countries do not follow the rule of law then foreign investments will not be made.

RRR purchased its 51% interest (meaning VUP got paid) then RRR spent money on the claims which made its value known to Glencore. Glencore is well known in Congo and was probably approached by VUP prior to VUP doing its deal with RRR.

This is not about the Congolese government but basic contract law

My original estimate was 3-5 years although I very much welcome a faster resolution (ie cash)

Chatty re Congo What is your suggestion as to what RRR should do in Congo? Not go? cancel arbitration? not collect the court awarded amounts?

ELEP has a firm committment for the funds
"What is a firm commitment underwriting?
Firm Commitment: In a firm commitment underwriting, the underwriter guarantees to purchase all the securities offered for sale by the issuer regardless of whether they can sell them to investors. It is the most desirable agreement because it guarantees all of the issuer's money right away."

see https://www.sec.gov/edgar/browse/?CIK=1865833&owner=exclude

two filings made today (Jan 13th) updating the 2 filings made on Jan 6th