Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
Where did you see that Cathy Hume had anything to do with Southwestern, don't see that is the case. Hume is CEO, CHF Capital Markets. See has also recently taken a position on the board of sokoman minerals
https://www.sokomanmineralscorp.com/board/
Cathy Hume came across as a cowardly mouthpiece of Art, not a backbone in her to fight, put back women's power 10 years. She probably feels she's reached her pinnacle of power and has nothing to prove to herself except I know different, just another yes man but a women.
Whoever it was that provided the RS report, many thanks its appreciated.
It gets me thinking if anyone wants to provide information that perhaps they wish to do so anonymously or to discuss of forum.
You can reach me here on - COPLINFO@proton.me
its a temp email will be thrown away when this is over but if you wish to help, I'm all ears. This is nothing to do with the CAG.
"So he put a lot of money in to the shares after the discovery and after the report. Why would he do that if the report was saying the oil was not commercial? "
Because it was more than covered by his 215% remuneration increase to $1,888,200 from $97,800 (2021) so a free ride.
I don't have an issue with having to pay a 20% premium on a placing, particularly as the next one to come could be another 30% - 50% lower than the price is now so still a bargain and would be purchased with far reduced risk
Although Nubby, if you were a buyer, you would never get a company where the shareholders were more dedicated in supporting you and your initiatives.
After what Millholland has done here a buyer of substance will be seen as the whitest shiniest knight going, what CEO wouldn't want a shareholder base that supportive..
As the shareprice generally retracts to the placing price and based on past placings the institutions will want it as low as possible, I will be a buyer after the placing. Assuming of course that the placing will be before any EWT.
Saintnick, the terminology is correct, however how do you think the market will have taken the RNS differently had the additional 4 pages we have seen added, been included at the time?
As Shouston has pointed out, its important to know,
When was the 5th Aug 2022 press release "modified"?
Who sanctioned the doctoring of this release?
What was the purpose of updating the document months after it was released?
And importantly for me why did they not announce a change had been made to a previous RNS?
And really important, why did they not just provide the RS report then we would have been in receipt of all the detail.
We now know the reason given was a lie, its written plainly in the RS report that - "The results of our third party study presented herein were prepared for public disclosure by COPL" - so another lie by Millholland.
And Art can forget using the excuse that we wouldn't understand it as he also stated in the video 2022-07-22 - Canadian Overseas Petroleum reaches financing deal on favourable terms to close Cuda acquisition - “In the near term we have this resource report from Ryder Scott and its coming“ and “when we get it we’ll actually put the whole report up on SEDAR so people can read it, but more important than that we will put a press release out to explain it, its not just as simple as here a number and we agree with it, it’s a little more complicated than that.”
Well it would seem that everyone that took those 2,420,842,500 shares at 0.25 have been selling into the rise and even now they have hundreds of percent profit still on the cards, I expect when they received their 72 percent discount on the previous closing price of 0.09 pence, they couldn't believe their luck when they were awarded with hundreds more percentage on the huge rise.
I expect we will continue to see strong selling up until the point they have pushed the price down such that HE1 consider they really need to do another fund raise (not sure why they didn't take more at the top). The large investors greed will have got the better of them, Cantor will be chomping at the bit for another round and they will certainly want a repeat of the last which means maximum discount against a later maximum rise.
Shouston again we will not know arts strategy, but this could have been added to put of prospective purchasers.
lets look at the facts here.
- Art initially needed the whole project to look attractive to shareholders, he needed to always sell the story, he needed us believing in the huge discovery thus why he has only showed the most positive side in the original RNS, as an example the Frontier 2 he reported as having OOIP of 217 million barrels, however he gives the total recoverable as being 1c + 2C + 3C to show 23 million barrels recoverable so he includes all the high estimates. proved plus probable would only have given 10,753,900 so he overplayed it.
However we don't know what are the facts since that report, maybe Eazy is correct, also Art discussed miscible flooding presenting up to 40% recoverable, the figures above 1C + 2C are only using recovery factors of 0.83% 1C and 4.12% 2C thus the find could be huge if Art recovery factor were to be believed. And if this is the case is he trying to put of prospective bidders
Once again with Art all smoke and mirrors and I'm not a petroleum geologist which is what we need. However, I don't need to be a PG to know that Art has continually lied and misrepresented to sell his story and not presented in such a way as to show a true reflection that shareholders can come to an informed investment decision.
Doctoring RNS releases post their release and keeping quiet of the fact is in my mind fraud, it is simply keeping relevant facts from shareholders.
Oh and here's another public reveal, what did Art tell us, - he couldn't share the report as Ryder Scott wouldn't allow it.. I draw your attention to page 2 of the report, the introductory letter addresses to Dear Mr. Christensen, 1st Paragraph,
"Economically Not Viable contingent resources were not considered in this report and thus all references to contingent resources pertain to economically viable volumes where the undiscounted net present value is positive. The results of our third party study presented herein were prepared for public disclosure by COPL for filings with the Canadian regulatory authorities."
let me repeat that "The results of our third party study presented herein were prepared for public disclosure by COPL" - so another lie by Millholland.
One wonders if the leak actually came from Ryder Scott.
In fact Shouston as the text placed - "Further to COPL’s press release dated August 5, 2022 concerning the deep oil Discovery within the Converse and Natrona Counties of Wyoming, the following information is disclosed"
- then the fact it was a disclosure against a past RNS that would have had significant meaning, that in itself should have been RNS'd it was not. so to be honest outside of a forensic analysis of the document which could be done, the changes, whenever they were conducted, should have been announced. They were not.
Montifino, I am not sure if the pdf the wayback machine are opening are as they were, I suspect the button is linking to the original document position, that is for sure but the wayback machine unless it had actually downloaded the original document in its original form would be of little use. The bottom line is we know for sure that the pdf on the copl website as being August the 5th news release is not as shown by the official RNS or SEDAR document. It has four additional pages.
Those 4 additional pages are damning, the text stating that the "The Total Petroleum Initially-In-Place (TPIIP) of 993.5 million barrels of oil quoted in our press release, dated August 5, 2022, includes Discovered sub-commercial (contingent) volumes and Undiscovered volumes of petroleum initially-in-place (prospective) and represents the 100% (gross) working interests. (COPL has disclosed reserves related information elsewhere." Is important.
Who would have been quoting 993.5 million barrels if we knew that number contained Discovered sub-commercial volumes, who would invest into volumes that are sub commercial. Bottom line the report on the COPL website has;
1. Been doctored
2. The page is entitled NEWS RELEASES, yet the document it links too was not the news release as released to RNS or SEDAR on the 5th August.
3. We don't know when it was changed, we can speculate but for sure the changes themselves were never RNS'd to inform the market that the 993.5 million barrels contained volumes of sub commercial nature.
I suspect it has been changed to reflect the leaked RS report
Compare the original with what now appears on the COPL website
https://www.canoverseas.com/wp-content/uploads/2022/10/COPL-Press-Release-RNS-Final.pdf
conmen. how many would have invested for the un-risked numbers they show there!
Ryder Scott will have some talking to do, they knew how their numbers were being reported and did nothing, how do I know, I've been in discussion with them in the past and made them aware, they continually argued NDA confidentiality, couldn't talk about clients etc. they will when they are subpoenaed.
The RS report on the COPL website has been doctored from the original.
I have never remembered seeing those pages in the original from page 7 onwards, so I have checked. The original RNS and the original SEDAR release were identical and they ended on page 7. You can see them here,
https://www.investegate.co.uk/announcement/rns/canadian-overseas-petroleum-limited-di---copl/resource-report-confirms-wyoming-oil-discovery/7010602
and here
https://www.sedarplus.ca/csa-party/records/document.html?id=e5b11757321de9847ef4c31928461dc8d06f4882661f2577d24b6fbc66c47bda
This new report has been doctored, likely due to the leak of the latest RS report.
The 4 pages following page 7 are new, indeed not only has it been doctored but its too obvious, open the document in pdf continuous page and the first thing you notice is that page 8 is just slightly a larger size, the text is slightly different and the page numbering ends, it is not continuous. We are being fed a lie here. this is open fraud, this information added here was never released in the original and now they seek to mitigate their lies with such paragraph as,
"The Total Petroleum Initially-In-Place (TPIIP) of 993.5 million barrels of oil quoted in our press release, dated
August 5, 2022, includes Discovered sub-commercial (contingent) volumes and Undiscovered volumes of
petroleum initially-in-place (prospective) and represents the 100% (gross) working interests. (COPL has
disclosed reserves related information elsewhere.)"
We have been conned, note also they have note dated when they added the additional text, lies upon lies here
These have NOT been email by me;
2 Exxon Mobil $450,310,144,000 United States - emailed by CAG
3 Chevron $287,616,827,392 United States - emailed by CAG
5 Shell $215,190,142,976 United Kingdom
9 BP $106,343,137,280 United Kingdom - emailed by CAG
96 Centrica $8,607,646,375 United Kingdom
117 Noble Corporation $6,907,986,944 United Kingdom
139 Valaris $5,382,250,496 United Kingdom
200 Harbour Energy $2,667,541,709 United Kingdom
217 Atlantica $2,025,812,992 United Kingdom
266 Precision Drilling Corporation $957,983,488 Canada
267 SilverBow Resources $883,678,592 United States
273 Unitil Corporation $843,567,808 United States
275 Kelt Exploration $840,254,467 Canada
277 Cardinal Energy $808,831,104 Canada
278 Africa Oil $773,351,466 Canada
279 NGL Energy Partners $772,550,784 United States
280 National Energy Services Reunited $759,971,200 United States
282 Enerflex $740,584,576 Canada
283 Vitesse Energy $708,663,232 United States
286 Riley Permian $637,500,032 United States
288 Vaalco Energy $634,102,336 United States
289 Obsidian Energy $626,515,392 Canada
290 Trican Well Service $624,865,805 Canada
291 Berry Corporation $598,451,520 United States
292 Tetra Technologies $585,563,328 United States
293 Clean Energy Fuels $571,489,280 United States
294 TXO Energy Partners $554,422,528 United States
295 Diversified Energy $541,796,358 United States
296 SandRidge Energy $529,799,424 United States
298 Frontera Energy $523,284,523 Canada
299 Tellurian $502,609,312 United States
300 OPAL Fuels $496,831,456 United States
301 Overseas Shipholding Group $443,452,512 United States
302 Genie Energy $440,772,832 United States