Member Info for SteveV

Of

Yes Gordon, exactly you wouldn't be selling if you'd just subscribed, and it doesn't have to be exclusively a shareholder placing. Just a placing that that anyone could subscribe to that doesn't involve Anavio re-setting the bonds and warrants to .15p(and then start selling, because only THEY can sell at a profit at that price because or the terms of their bonds)

Sure. I get your point. But then I think all shareholder value is effectively lost if the bonds are reset to .15p

Duster, the crucial point about a shareholder placing at .15p compared to an Anavio placing at .15p is that the bonds and warrants wouldn't be reset to .15p (they'd stay at 2.6p)

That make a massive difference. A shareholder placement at .15p allows for the chance for the sp to grow from that low level. If Anavio get to reset the bonds and warrants at .15p we are trapped there and below. (when has the sp ever been above the Anavio bond/placing price.......Never)

If our shamed BOD had any integrity they would put their hands in their pockets and agree to a very short term loan to allow time for shareholders to place the .15p rather than Anavio.

We DO NOT want the bonds and warrants to be re-set to .15p !!! That will kill any shareholder value.

Yep, I am expecting a rise to around .15p Monday.

That would be the ceiling, unless the shareholder dialogue offers an alternative funding idea.

I would love to see Anavio removed completely from any other funding requirements. They have destroyed the sp and therefore our ability to adequately fund the business. Parasitic money men.

Not going to go over 0.15p is it.

Nice to have it confirmed in the RNS that the placing WILL be .15p.

However I still don't like it. .15p reset for the bonds AND the warrants is terrible for shareholders. We know they will convert and sell . It's not in the best interest of shareholders.

What would be in the best interests of shareholders is a shareholder placement at.15p or even higher if it meant Anavio don't get to reset the bonds and warrants.

I would be happy to subscribe to a placement .2p, .3p, .5p....whatever it took

Yes an open offer at .15p would be good. We need to avoid Anavio resetting the bonds and warrants to .15p.

Keep them at 2.6p

Can still sell a million in one go. Might have more legs yet.

Shorters had their fill ?

It's easy in retrospect, but if we had not bought CUDA we would not have the bonds.

CUDA assets would have been bought by someone else and we would have had a new business partner. (probably with resources to help get the oil out of the ground )

Well one thing is certain . This last year has been a disaster.

Seems like everyone was banking on a JV with a major. Once that didn't happen everything collapsed.

And when you got the bondholders destroying all value in their path we find ourselves where we are.

Was it not $19m for Cuda we paid and $54m for Atomic.

Doug, are you not double counting there. A lot of the COPL debt is due to acquiring Atomic and CUDA

I think the big problem was under funding. Tried it on a shoestring(for oil) and paid the price.

I don't know how we got to $135m debt. But even that isn't so bad if you believe we have a billion barrels of oil underground.

No doubt someone else will have a go after COPL's demise.

I still think I believe in the asset sham, but it needs a new management, more expertise, and a lot of cash to get the oil out.

What ever happened to the proposed drilling of two horizontal wells in the Fed deep that would be pumping 2000bopd !!!

COPL will never be stable or investable whilst we still have those bonds hanging over our heads.

It may be too late to rectify.

AM and Ryan Gaffney did this.

God help the people with heavily leveraged buys on Spread bets or CFD's

We know the bonds have been a disaster for COPL and it's shareholders.

They now leave us in a very difficult position.

Were the BOD negligent or was there truly no alternative....?

With the sp where it is now we are all (SL, bondholders and shareholders in deep trouble)

BigBear, shareholder funded refinancing. Sack all the BOD and get rid of Anavio(bloodsuckers)

Oh, .....and maybe sue for malpractice to recoup some of the cash.