Member Info for wookieemonster

The problem here mainly is Arts misled the market with projected bopd figures, timeframes on RBL, out right placing after days before saying no placing, he’s been shady with the recent discovery paper work and has a cloud of suspicion floating heavily over him and this the company.

The new JV probably suspected as yet another smokescreen to cover mistakes and provide another carrot for people to buy before either placing or coming up with further dilution without adding value ( as we have done multiple times since Atomic )

What really needs to happen is Art needs to deliver and on any one of his many promises to shareholders.

An overdue RBL, ( he said would be done already )
Higher production ( we are over 50% less than we should have been 12 months ago, according to him )
Get a JV ( indicated things progressing well )
Organise a new rig and equipment for next drills ( not sure we have one yet )
Clarity on the discovery ( would like to be able to see the full report)
To name a few.

Think the reality is the “trolls” have very real ammo that Art has given them consistently. And the reality is our current sp & mcap are real.

Why aren’t we at least 50p ( his own recent valuation ) why does our sp not reflect actual material value ( being at least twice current mcap, at least! )

Think many suspect Art will deliver more carrots and more excuses hence the sp. Next to no trust in his ability not to shaft investors so his next move is a BIG one. Will he just do more of the same, or will he prove all the naysayers wrong! And finally, finally start to deliver on his promises. Fingers crossed. Knife edge moment for us I think.

Pilot I don’t think anyone really expects it to be Exxon, and they are a major major rather than a “big” one I agree.

Think there are just many coincidences and plausible reasons they might be. Personally feel we are just too small for them but at the same time, our new discovery is “major” sized asset, and really needs a major to make the most of if. So although it seems a little far fetched it’s not out the question.

Hoping we will find out soon :)

NDA is just that; he, nor the interests party can communicate any sensitive information whilst negotiating. This of course includes disclosure of information or indeed share purchasing.

The fact is if Copl can resolve the pressure issues and get production up, EVEN with our current, quite frankly appalling finance we should be in a very good position! very good indeed. Let’s not forget this is essentially a new “field” and sustained production for decades ( supposedly ) factoring that oil prices between $40 - $80.

For me it’s always been about the production, and all the extras we are chasing are game changers in their own right.

We just have yet for any of them to come to pass.

Aye, well 50p, according to Art, is where we should be at least. So fingers crossed we can start clawing back toward that once production creeps up.

Double from here!? A lot will still be underwater

With NDAs in place both sides I doubt we will get any real signs before a news drop. Either in or out I guess.

Takeover never been mentioned by COPL, JV has. So JV most likely. If it was me on the major side, would be voting for total buy out but who knows what deal/s are being negotiated.

Was hoping EOY we would have had our RBL now, and then the JV seems to have taken precedence so perhaps it might not be EOY but hopefully not far off.

Only time will tell, but it’s nice to see some blue even though we are still at dreadful prices.

I think if news was about to land ( and it was good ) we would be doing 20-40% at least! But factor in we might have cleared a seller, and now buying ( because it seems so cheap ) is creating a +ve market, finally…

Would be great to get news on JV / RBL but have no faith in lawyers being able to do anything so close to Christmas knowing their thirst for brandy and being slow.

Arthur’s under an NDA over RBL, JV, that much is clear we know those must still be in discussion or we would have had another placing already.

We know they are working to up production along side ( hopefully positive ) negotiations.

I’m one of those who have been averaging down for a while, and reluctant to put more in after so many set backs and disappointments.. would like to see some positive news and some decent recovery before adding more…but at the same time.. you miss what would appear a very good price ( if you believe in the bigger picture still as you did when first investing )

Sentiment will change in a heartbeat once production is up. It’s a total anchor in depression.

We are behind with actual figures and should see an uplift shortly.

The current sp breeds contempt, uncertainty and concern. The coms black out breeds speculation and of course, without drive there are always sellers, especially before Christmas.

The oils not gone away, the gas is still there, the 40 year incline curve still there, Atomic and Cuda assets still there.

Soon as Art can resolve our finances and increase production there should be a speed run upside. Rightly so the market doesn’t trust or think Art can do it, it’s marked him down as a con man and a fraud with this sp.

Let’s see who proves who right. Sure hope it’s Art.

It’s the difference between those that punt and those that trade or just invest because of what some melt said on Twitter Jack.

Doubt anyone of those who say I would take 30-50p now have ever shared or calculated the asset cost.

I mean absolutely after all this it would be nice to see us back in the blue or getting closer to fair value. Personally would like us back at 40-50p and then discuss takeover prices. It really all comes down to production v debt..

We get better borrowing or a partner then our costs reduce significantly. Pair that with continued uplift in production both from existing wells then new. And you might start to regret selling for 50p..

What was Arts last purchase at again? And do we have more or less since then, wasn’t 50p a share current low ball figure based on the moment not the prospect.

It’s hard to see when the sp is at 12p. HUR went from sub 1p to 8p in a heartbeat….

Value isn’t always reflective on LSE. We might as well be AIM for the good it’s done us being main market so far.

Coffee break and yes opulentia, 250mil would still be a steal for a major. Especially considering to them it wouldn’t really be a risk, Exxon with what, 35+ billion profits and looking to invest heavily 2023..

Of course it may not be Exxon, but who ever is doing due diligence guaranteed not to be small fry.

The risk here is that we have suffered a low so for so long many might approve a low ball takeover offer. Arts no fool though and knows the value, no doubt it wouldn’t be too high a price but pretty sure it would be a mutually fair one… Though there is NO indication of anyone wanting to buy us at all, but would be nice to get an RBL or decent JV so we can move forward positively. And production up, that’s a must.

Back to work.

I’m off to work, can’t say I'm not very concerned nervous about an Arts next news, had a dream we had another placing last night and it dropped to 7p before recovering back to 11p.

Woke up grumpy. Hoping it was a nightmare not a premonition. Also hoping RBL delay is due to a much better deal package being negotiated!!

It’s about time we could all do with some good news here.

Have a good day all, WM

Thanks Nubby, I apologise for my “tone” of response and respect you seem to be a decent poster, I’m all for balance and highly appreciate anyone who can discuss without insult or attack.

I’m just as frustrated but don’t like one sided posts. I rant often and am pi55ed off being about 45% down after lots of averaging down based on multiple mistruths by the CEO.

But refuse to be told utter nonsense about our asset value. ( which you don’t just give away billions of barrels for free ffs… ) even if not booked. The data is still legitimate.

We traded at 23p - 26p had far less and you never said any of this then Stas…

Not really. Selling the gas under our feet gives us twice the mcap.

I’m absolutely all for balance but let’s look at:

Gas currently in the ground, proven reserves, land, infrastructure, licences, equipment & of course current production.

Now you tell me that’s worth 12p? Or even 36p

I’m not saying no RBL isn’t an issue, but then would prefer a JV!?? And seems to be ongoing.

I’m not justifying his lack of coms and support of our sp.
Not am I saying it’s all great.

But I can’t stand people thinking that the current sp is reflective of our assets.