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CoplA maybe in charge of JV negotiations but who owns the asset?

"What is the ownership structure of the affiliate COPL America" this might be a dumb question but don't holdings above 10% in Canada have to be declared and therefore accessible from somewhere (apart from AM or Copl...)?

Tiburn,

I've always wondered the point of having 2 companies, Copl and CopA and now I'm beginning to feel even worse than I have over the last X months. Are you saying:

1 CoplA under AM, control the asset and JV negotiations?

2 The only role of Copl is to funnel funds to CoplA?

3 Why have such a confusing duplication?

4 Where does it leave the PI?

Maybe this is why the SP continues to tank, lost it's assets? Any thoughts would be appreciated

So BHs are keeping SP low so they gets lots of shares as they think it will rise and so make more money? What about "a group" shorting SP to acquire shares for a t/o? I know this has been discussed before but no conclusion given as to whether possible or not. Why not? I can't believe a $bn barrel asset which is producing now and can produce more is still worth 2p a share, makes no logical sense. (I now see conspiracy theories everywhere, even my morning coffee!)

Will someone please explain how BHs benefit more from keeping SP down, as opposed to letting it rise? If it is them doing it, I don't understand their reasoning?

I wish we knew how things worked....

To Trujack-for a lender to be able to convert a debt into shares once the borrower says they will repay the debt, sounds very odd.

To LTHs-I think I'll go to church today, for a good pray.

When does the new production director start and what's his name, so we can check him out? Or has that already been announced?

Thread

Yankee99v2

Just researching the thead on May and came across this, which or may not be relevant.

See https://gb.wallmine.com/lse/copl/officer/2046289/richard-mays

What is the salary of Richard Mays?

As the Vice President - Business Development and General Counsel of Canadian Overseas Petroleum, the total compensation of Richard Mays at Canadian Overseas Petroleum is GBX340,900. There are 1 executives at Canadian Overseas Petroleum getting paid more, with Arthur Millholland having the highest compensation of $384,800.

Richard Mays biography

Richard Paul Mays serves as Vice President - Business Development, General Counsel of the Company. Dr. Mays has been the Corporation’s Vice President, Business Development and General Counsel since September 2014. He has extensive management and leadership experience in oil and gas companies. Dr. Mays is a Non-Executive Director of Prospex Oil and Gas plc and a Director of Sallork Limited and Sallork Property Limited. Dr Mays was Executive Chairman of Black Star Petroleum plc from November 2012 to January 2014, and Executive Chairman of Peppercoast Petroleum plc from March 2010 to April 2013. He was formerly Professor of Law and Deputy Dean of the Aberdeen Business School.

Nigel Is a big problem for me, resigned as a director but still an adviser. Oversaw recent debacles at Dvrg and Msys-SPs trashed, companies suspended, assets being sold to private companies run by "friends" for €1. Look up BB on Dvrg and Msys. What's been delivered by Mos in the last year apart from SP falling 50%? Not into ramping/deramping, prefer factual stuff.

That's just another noisy BB, where's the direct link to what Richardson actually said? Jeez...

New poster, 2 posts....

Maybe they believe the waffle about Copl's Richardson who went to Bristol University, being the same/part of the billionaire Richardson family in Canada :-) New poster, one poster, Canada blows hot, we jerk in excitement, it's all eazy peazy :-)

Errr...guys, what about my question? :-)

"Current MC £12M, SP 1.7p. How difficult is it for a "group/AM" to get 50% for next to nothing? As a non oil/finance expert I'd say pretty easy, but happy to have facts and logic argue me otherwise."

Current MC £12M, SP 1.7p. How difficult is it for a "group/AM" to get 50% for next to nothing? As a non oil/finance expert I'd say pretty easy, but happy to have facts and logic argue me otherwise.

Tiburn and fellow sensible posters,

I just don't get the continued SP fall of a multi $bn, RS confirmed asset, even with a short-term cash risk. The ability to produce today or tommorrow is proven, a lot quicker with a JV. If I had a multi £m house needing a bit of work I'd have asset based lenders queuing to lend, irrespective of my credit risk. Something smells and I keep going back to Anavio, AM and his sock/sahcking CFO. We're all gamblers on Aim, so what % odds we giving on the SP being 12p by end of Jan and say 25p by end of April? Only sensible posters need reply.

"But what intrigues me the most, is why a team of 20 or so Cayman Island financiers would want to take over a small oil company."

To then sell it on? Could the financiers take it over, maybe even go private, then sell it on to a large oil company and divi the proceeds with AM and family and CFO, who possibly helped arrange it all with Anavio?

Hi Stas20, why are you doing the analysis, what do you think it might show?

AM might be good at sniffing out oil but given his leadership, management and delivery skills to date, I feel very nervous that he is in charge of "delivering" the JV. Why does he have to be in that position if he's been sidelined? As President he can just turn up for the signatures. And claiming the glory if he wants to. I remain uneasy with him still around. Can anyone clarify why he's necessary, I'd appreciate sensible thoughts. Thanks.