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What a great RNS to read this morning. This will hopefully lead on to an updated Presentation very soon, Ryder Scott should also be confirming reserves across all units soon, hopefully we will see an update on this in February or before.
If CUDA has a WI for the Fed deep unit then arguably it is now even more valuable to us and if the $8m from last month is all that was required to secure CUDA WI, then it was certainly worthwhile.
Arthur has also mentioned in the past that he has been talking with a landowner nearby to try to come to an agreement, how great will that be if that landowner is the one who holds the remaining 12% of land from this discovery.

All in all a great day to be in COPL and we are now even further behind being valued fairly by the market.

Well I have to say I'm not best pleased that we have had a placing after AM said we he wasn't looking to do one, also not too happy that it's for Cuda. I would have thought we have had plenty enough cash to pay for Cuda and if we don't, then I'm concerned we could be paying too much. It would have been much better to use debt for Cuda and raise for drilling afterwards once we've had some rerate on Cuda news.
I would have preferred at least an RNS to say "we have agreed purchase of Cuda assets and intend to raise X from a placing". I pray that this means Cuda is wrapped up because if it isn't and we lose the bid, then this is extremely poor judgement from COPL and if I'm honest, would signal that the BOD needs freshening up.

On the positive side, the placing has been eaten up quickly by Institutions so it's good to see shares going in to hands who know how to hold a share and the price was reasonable. Even with the addition of these shares we can still expect a significant increase to comfortably over £1 per share with or without Cuda in time.

Something in my gut is telling me that that the price action is mostly PIs who are fed up now. We know COPL have a large retail following.
People who bought in prior to suspension and held a little longer after the disappointing relist, people who bought in after relist expecting us to re-rate on the next bit of news and those who bought in prior to Q3 hoping the rockets would come out, they've all decided to cut their losses after Q3 wasn't what they expected to hear.
I hope those shares are moving in to more LTH hands.

Ironhide how can you say there is no investment case and to refer to the past 5 years? Such an asinine comment and you know it.
The 5 year graph is showing COPL the EXPLORATION company it is not showing your COPL the PRODUCTION company. That graph is irrelevant now because the fundamentals have changed.

Ironhide I cannot disagree with your comments on the reduction in BOPD, it did seem material enough that it should have warranted an RNS however we knew the complication with gas and that we required extra equipment in order to facilitate the ramp up in production. I am happy to admit that COPL leave alot to be desired when it comes to updating the market however this is an issue affecting a huge percentage of companies across all stock markets.
Ultimately, long term investors know that eventually the fundamentals become too strong to ignore and the SP will reflect that at some point, regardless of poor PR.

It isn't as straight forward as comparing COPL to most AIM stocks, which often do not have an ounce of revenue and are simply exploring options within their sector. This WAS an exploration company however it is now a revenue production company working towards increasing its revenue and that should translate in the share price over time (provided we don't see too much dilution).
Also I did not use the word "mega" in reference to returns, just that those who held should be rewarded i.e in profit from their investment.

I keep seeing people talk about COPL not making a profit yet but I just cannot understand what people are expecting.
Would people rather that production levels are kept the same and we see some profit or would people prefer that we spud new wells and increase production? I expect the answer would be different based on whether you are a trader or a long term investor.
Anyone who is prepared to hold this while production is ramped up over the next 8 to 12 months will be rewarded. Anyone holding for a shorter term is playing a risky game.

COPL shouldn't need news. I think it should be perfoming better than it is but if II's have heard about something it could prompt them to get there shares bought sooner rather than later.

Perhaps some IIs are aware of some incoming news which us lowly PIs are always last to hear about. An update on Ops or CUDA negotiations or on the land purchase would be nice.