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Stas,
Was just wondering about this i.e. Exhibit E. Would like to understand a little more about the content of the document entitled "Project Copper" pages 106 thru 117 of PK's April 18 affidavit. I've no clue as to its significance or not so all comments, opinions etc gladly welcomed.
New affidavits and associated documentation recently added.
Very brief read of affidavit from BP representative (K.J. Anderson) and subsequent reply from PK seems to indicate claim and counter claim.
Over to those with greater knowledge than I to elaborate.
Great post that.
ATB
For general reassurance and encouragement, I can also confirm I have now received an acknowledgement of my report to the Canadian Attorney General (AG).
The acknowledgement confirms that my report has been passed to the appropriate Minister for further consideration.
ATB - Y99v2
I recently wrote personal letters to the Joint Executive Directors of Enforcement and Market Oversight at the FCA, namely Ms. Therese Chambers and Mr. Stephen Smart.
I have today received a reply and subsequently, the express authority to convey certain pertinent points verbatim from said response as follows:-
“We have supervision teams that are responsible for monitoring regulated firms to ensure they follow our rules. When concerns are shared with us regarding the conduct of a firm, the information is recorded against them. I have, therefore, shared your letter with Anavio Capital Partners’ supervisory team.”
“The supervision team can use this information to understand how the firm is treating its customers and how it is behaving in the marketplace. This can lead to guidance being issued to the firm or, if necessary, disciplinary action being taken against it.”
“Furthermore, the FCA’s Market Oversight Directorate (MO) is responsible, amongst other things, for monitoring compliance with the Short Selling Regulation (SSR) and the UK Market Abuse Regulation (UK MAR). MO have been made aware of your complaint.”
GLA all COPL shareholders everywhere. We deserve to be treated better.
From the second Kravitz Affiavit of March 14, page 8
B. Update to Kravitz Affidavit #1
11. Following the hearing of the Initial Application, it has come to the Applicants’ attention
that the Kravitz Affidavit #1 contains an error where it states that there were eight (8) full-time
employees in the United Kingdom. This was historically the case, but I understand that there are
now no longer any full-time employees in the United Kingdom.
Surely the number of employees was one of the easier aspects to discover.
These's another correction on the same page relating to Anavio and COPL A, but I don't know how significant this is. Over to those that do!!
@RT
Many thanks for this information.
Really significant piece of news.
@Shaa, RBM etc,
Great!!
@Mogul1
I'm too late but good to know.
Many thanks
Y99
Sorry forgot to mention, don't include any links etc, it won't get through the firewall.
Quick update.
If you are to write to the AG, send it to the Ministerial Correspondence Unit marked for the attention of The Honourable Arif Virani, Minister of Justice and Attorney General of Canada.
e-mail address - mcu@justice.gc.ca
Stas
Agreed.
Part 2.......
Through dilutionary finance deals, false promises, and manipulative tactics, these corporate criminals seek to seize control of these valuable assets for their own gain, leaving the ordinary shareholder with nothing but losses and shattered dreams.
COPL shareholders, are fighting a David-versus-Goliath battle against these wrongdoings. Many are not wealthy individuals, just ordinary people - pensioners, housewives, husbands striving to secure a better future for their families. They are the backbone of society, the type of people who most in the world would want to protect.
Faced with the finality that bankruptcy proceedings bring, the final hope an ordinary shareholder can have is that the judicial system in which the company is incorporated can at least ensure a fair and transparent procedure where all facts and information are opened up to the public domain.
Unfortunately, COPL ordinary shareholders do not believe this to be the case.
All I ask is that you carefully consider what has been presented here and the positive impact we can have by standing together in this fight to ensure due judicial process is followed. Your support and solidarity could make all the difference in preventing further harm to shareholders everywhere and holding those responsible for their actions to account.
ATB one and all
FWIW and it's just a thought, if you believe that the judicial insolvency process is lacking in pertinent information to ensure a fair outcome for all, you may wish to raise your concerns with the head of Canada’s Justice Department, The Honourable Arif Virani, The Minister of Justice and Attorney General of Canada.
Contact details are:
arif.virani@parl.gc.ca
Copy in the two AG representatives as noted on the KSV Advisory service list i.e.
Bertrand.malo@justice.gc.ca and Kasydi.Mack@justice.gc.ca
My attempt is as follows (Stas, these are predominantly your words. Trust you don’t mind).
For the attention of The Honourable Arif Virani, Minister of Justice and Attorney General of Canada,
Dear Minister,
Recently, a relative small Canadian oil and gas exploration, development and production company filed for bankruptcy. The company in question is Canadian Overseas Petroleum Limited (COPL).
What is concerning to many hundreds if not thousands of ordinary COPL shareholders is that the judicial process is being unnecessarily rushed through and the true value of the assets of this company are being “hidden in plain sight”.
To give you some examples, headline grabbing statistics previously present by COPL include:
- A 40+ year reserve life and inclining oil production from gas miscible flood, with facilities built and commissioned in 2019.
- Proven and Probable Reserves (2P NPV at 10% DCF) valued at $492 million as at July 31, 2022.
- A very large discovery in the Cole Creek (Wyoming, USA) area containing a total Original Oil in Place of 993.5 million barrels, independently assessed by Ryder Scott and compliant with Canadian regulatory requirements pursuant to National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").
- A $4.5 million-dollar infrastructure upgrade to the gas gathering system at the Company’s “Barron Flats Shannon Unit” (BFSU) (July 2023), supporting oil production through increased gas injection coupled with potential for carbon capture due to “BFSU” being a miscible flood Enhanced Oil Recovery project.
However as recent events have revealed, it is generally believed that this great potential is under threat from corporate criminals. It is widely suspected that these individuals have engaged in unethical and illegal practices, jeopardizing the very livelihoods of hardworking shareholders and tarnishing the reputation of both Canadian and UK stock markets.
Please be in no doubt, the situation is dire.
Continued......
@Stas
Good combination and agree regards revised part 2.
Regarding the other bond holders, forgive me if I'm way off base but are they potentially identified on the creditor list along with Anavio? i.e. Cazadores Investments Ltd and Trefoil Select Funds SPC - Stylus SP.
However, may be there's probably more than two, so I might be well off base!!.
@ Stas
as both have a powerful but slightly different emphasis, may I suggest a combination of the two so that the opportunity to convey the entire message is not lost.
@TrustSerpico
Regretfully, that was my take on the one line curt response I received.
@alfresco
Are you able to share any salient points from the replies particularly PK and AM.
PK's reply to me was to thank me for my misguided communication.
My thought was, definitely rattled.
@Treefern
Unless you've already found it, PK affidavit can be found below.
https://www.ksvadvisory.com/docs/default-source/insolvency-case-documents/canadian-overseas-petroleum/ccaa-proceedings/motion-materials/affidavit-of-p-kravitz-sworn-march-7-2024.pdf?sfvrsn=471aea1e_4