Member Info for waddaweknow

I'ved emailed canadian SE ref TR's address lapse, let's see what happens.

Copse Stile House, Spring Lane, Aston Tirrold, Oxfordshire OX11 9EJ. But sold in July 2023, 7 months ago! For £3.25M...

"Toscafund Asset Management LLP have dumped all their shares..." That's correct, done on 7th, notified Copl 9th, posted on Interactive Investor today. Does anyone know what it might mean?

There may be 1Bn barrels but is it economically recoverable??? That has never been answered. Maybe BOD knew it wasn't so huffed and puffed for 2 years on doubled salaries? AND RYDER SCOTT went along with the fraud by remaining silent. Doesn't this make them complicit?

I tend to agree with Smalltrader. "Recovery" people are basically insolvency people, hired to recover debts and pay themselves lots of fees. Getting a company back to going concern status is down the list, amongst the also rans. It's now a feeding trough party, PIs not invited.

1 In America pork barrel politics is when a locality and its representative "benefit" from govt "directed" funding. It's strange we haven't heard from Wyoming Governor Mark Gordon, since he was jumping up and down about the importance of Copl.

2 It's strange that Ryder Scott have remained silent about their report after 2 years. Could their silence have contributed in any way to the SP plunge and therefore could they be liable for some responsibility?

3 If Exxon was indeed the JV partner, it's interesting that so many directors at RS have worked there.

4 Maybe there's no oil or it's too difficult to get out (why RS report suppressed), so various parties arranged a financial scam? Make money over 2 years then wind things up and bury the evidence?

Ref Exemption from policy 4, Stas 20, I think your summary is spot on " all news flow from the company now is blatant in its desire to keep as much information away from shareholders as it can for as long as it can to ensure it has as free a hand as possible and as little time for shareholders to react...company now publicly showing it has every intention of ignoring shareholder interests....." Latest RNS asking for "context" a good example.

I'm open to Smalltrader's idea of SH funding but surely the RS report needs to be published, particularly as it's now old. Isn't it material information and therefore needs to be made available for any fund raise?

If this BB got Copl to finally issue an RNS, that's something. But:-

1 Why not issue the RS report, it's over a year old! Isn't it also SH property so to speak? It's an insult to say we wouldn't understand it!! That takes the biscuit.

2 What was all the money spent on? Simple headline figures for piping, production, wages etc.

3 What prompted AM/Ryan to double their salaries at such a critical period?

4 Why is production still so low? What does "the new production director" say? Errr, have we got one?

5 Why are they afraid of arranging a live presentation?

If others could add any questions and perhaps RBMInvest could send to Copl and publish their response? Who knows...

Roxi, does it have to be a full bid? What we want is access to information; I don't know the details but doesn't a company, listed on main market, have to reveal information to a "major" % SH? Or one who wants a place on the board? I don't know, but I've always assumed there's ways of getting info without having to own a company? Their accountants and lawyers must know what's going on? "Mandatory offers have to be made when shareholdings above 20% in Canada and 30% in UK". So we buy 20/30%, which PIs probably already have, then we have x days to sort out full bid, with access to info. Does stage one simply sound like PIs organising into a "formal entity" controlling 20-30%, to get access to info?

" business plan which shall include a sales process for the Company's assets. " I'm reading this to mean ALL assets, otherwise would have read "some or all". So total sale for about £1m.

Tiburn "but it would not surprise me at all if they announced prod increase using the $2.5m funds in Q1, another consolidation, name change, revised agreements made with SL and Anavio and then "new" discussions with JVP."

NO way, this was all planned, to sell the assets cheap to some pre-agreed vehicle. The insolvency vultures are in, keen to gorge on fees. Lenders, BHs etc already made loads trading over the last year so no loss there. Vultures and AM quids in.

Our MC will soon be £1M on a theoretical asset of 1bn barrels of oil, 1000-1.

Didn't our captain, Robert Maxwell, oops typo, sorry, Arthur Rank features, announce a 1000-1 consolidation early last year? No connection but the irony!

Https://www.provincefirm.com/team/peter-kravitz/ "Mr. Kravitz serves as a professional fiduciary with a specific specialty in wind-down situations. "

"Peter Kravitz Principal at Province Las Vegas, Nevada" LAS VEGAS, gosh that sounds respectable!

Sorry, Ref ": GoozeToday 16:01 He’s on the case" can you supply more detail, like what's he doing? Thanks.

How do you know, do you have more detail? Thanks.

Trujack, "‘CUDA oil and gas bankruptcy’ all of the official filings and motions are available on the receiver’s website. The process would be very similar for COPL, as CUDA was also a Canadian incorporated business with US assets".

This is when AM probably got the idea? "I've just picked up Cuda on the cheap with other people's money, I'm going to do the same with Copl? Worked once, why not twice..."

I don't know how this works but wouldn't it require some sort of investigation by the authorities/courts/whatever, to decide whether to grant it? In which case if there was fraud it might be revealed? In which case wouldn't AM want to avoid this as a solution?

In England you can have a "pre-pack" where everything is agreed with a buyer before the administration is announced. The buyer is sometimes the old company under a new name. Accountants know how this works.

If I was AM I'd let it go bust and do a deal with the SL (who just wants his money), buy it for peanuts. But then what do I know, I'm just a PI shmuck.

1 There's oil but difficult to get out in quantity, as stated decades ago. Managed a temporary increase to 2700 a while ago but couldn't be sustained because of difficulties. Promoted for PR purposes.

2 New equipment never bought or fully installed, or didn't help.

3 RS report a smoke and mirrors job based solely on "facts" supplied by AM, no independent verification. Which why it was never released.

4 "Fall off chair asset value" PR machine in overdrive to enable insiders to make hay while the PI dream bubbles.

5 Feb 2023 doubling of salaries, WTF, why not.

6 RNS's worthless jokes. Last few designed to squeeze a few more months, get last bit of $$

7 We got fried by a Sam Bankman Fraud type con.

8 Private Eye calls the FCA the Fundamentally Complicit Authority, so no help there.

7 Merry Xmas. Some in the Cayman Islands, others in the doghouse.

9 This is not a ramp/deramp but what I would say if we were talking face-face, rather than through the noise factory. I’m a LTH.

Please, can the hot air balloons on here stop trying to prick each other, it's childish school boy stuff. Pretend we're in the same room speaking face-face rather than in the Noise Factory, aka the internet. Not a merry xmas for many.