Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Nate-PI,
The BFU Fed Deep well as per page 131 of the prospectus was for evaluation of the currently KNOWN edge of the Shannon
being over 1 mile to the southwest of the presently mapped zero edge of the Shannon sand net pay (Ryder Scott).
- A success in the Shannon Sandstone could result in the mapping of a significantly wider area of Shannon net pay.
- Additionally, four other zones provide interest for exploration.
The testing was planned to start on Thursday 23rd September per their filings.
If consolidation does get confirmed then why are people so fixated on 100-1? If Art goes for 100-1 then we end up with 165,000,000 shares in issue. Seems like a small number to me for an oiler. Better I say at a lower consolidation level to get Canada away from CAD $0.005 trading and London into the 20p’s.
Why buy out all of CUDA and their 28%? I say it is better to leave them with something and go for just 18%. Lower costs and cash out to COPL. Keeps them alive so we can do a deal later on but has them paying a nice price for the use of our pipeline thereby subsidising COPL oil flows. If we get the 15% CNOOC as well then all will be nice.
Will we ever hear about any new proper investor anyway. Can anyone tell me the name of the HNWI guy and the name of the $40m+$20m loan company? No one can, because it is ‘SENSITIVE’ info!!! A proper investor please Art.
Still thinking that the TWO near 5% holdings in COPL are possibly CNOOC International holdings. They took a 15% holding in the acreage before so why not take a 10% holding in a Canadian company. Could get their Wyoming exposure back and also have a free run on the great potential of OPL226. Sounds like a nice fit to me.
Post 1 of 2
Just my thoughts but anyone else thinking about the COPL ‘Holdings in Company’ RNSs, their separate locations of Toronto and London and regulatory jurisdictions and especially there timings?
1) Pre-19/8/21 ownership %’s from RNSs
HSBC London = 4.984%
RBC Toronto = 5.51%
Cumulative = 10.494%
Potential trader call from Toronto to London – ‘Hey London, do you know the Canadian Early Warning Reporting requirements is over 10% ownership and the Joint Actor rules? Just google ‘Canadian takeover 10% reporting’.
FYI - Canadian Take-Over Bid Rules - Early Warning and Insider Reporting Requirements
Early Warning Reporting Requirements. Acquisition of voting securities or equity securities, or securities convertible into such securities, of a reporting issuer, whether under an exempt bid or transaction that does not constitute a take-over bid, including treasury securities acquired from an issuer, representing 10% (5% when a take-over bid has already been made) of a class of securities, may trigger an obligation for the acquiror to file an early warning report and news release. There are requirements for further reporting for 2% increases or decreases in securities owned or controlled or directed, or material changes in reports previously filed.
Moratorium. Until a 20% threshold is reached, the early warning reporting rules impose a moratorium prohibiting additional purchases beginning when a required report is required to be filed until the expiry of one day after the required report is filed.
FYI - Other google source – Canadian Mergers & Acquisitions Guide, 8th edition. Page 18 - EARLY WARNING REPORTING - Intended to alert the market to the acquisition of significant holdings in a public company. Acquisition of equity or voting securities representing 10% of the class (together with securities beneficially owned by purchaser and its joint actors) requires purchaser to issue a press release no later than opening of trading on the business day following the acquisition, and to file an “early warning” report within two business days. Disclosure must include the material terms of related financial instruments, any securities lending agreements and any other arrangements involving the securities.
2) HSBC 20/8/21 RNS [07:00 uk]
HSBC London – 4.984% up to 5.266%
RBC Toronto = 5.51%
Cumulative = 10.766%
Potential trader call from Toronto to London in the afternoon – ‘Hey London, you have increased your holdings because of the silly cheap price but hell man you have taken us over 10% again. I know it is a Friday on the 20th but for god sake SELL some London side before someone notices then just report on Monday.’
3) HSBC 23/8/21 RNS [07:00 uk]
HSBC London – 5.266% down to 4.943%
RBC Toronto = 5.51%
Cumulative = 10.004%
Potential trader call from Toronto to London – ‘Hey London, you have reduced but we are still over 10% by 0.004%. Sort it out in London.’
Post 2 of 2 (post 1 coming)
4) HSBC 8/9/21 [timed 18:03 uk]
HSBC London – 4.943% up to 5.022%
RBC Toronto = 5.51%
Cumulative = 10.532%
Potential trader call from Toronto to London – ‘Hey London, who is in charge of your desk? You have increased your holdings again and are now well over 10% again by 0.532% now!
Potential trader call from London to Toronto – ‘It is such a gift we couldn’t resist. Please adjust Toronto side now as we are out of trading hours now in London!’
5) RBC 9/9/21 [timed 07:00 uk]
HSBC London – 5.022%
RBC Toronto = 5.51% down to 4.9867%
Cumulative = 10.0087%
Potential trader call from London to Toronto – ‘Hey Toronto, you have reduced your holdings but you have made us still over 10% by 0.0087%. To be clear, we will adjust London side today!’
6) HSBC 9/9/21 [timed 13:00 uk]
HSBC London – 5.022% down to 4.299%
RBC Toronto = 4.9867%
Cumulative = 9.2857%
Potential trader call from London to Toronto – ‘Hey Toronto, I hope no one noticed. Talk to me directly in the future. Phew!’
Just my thoughts but I have not called the two 5% holdings in COPL under their names since March but instead I call them ‘CNOOC’ holdings in two different exchanges under two different regulators and two different rules and timezones.
CNOOC [China National Offshore Oil Corporation] are appealing in the US against Trump’s executive order of having them coming out of any direct holdings in US Oil companies by the end of 2021 [Note – the order has NOT been repealed by Biden.]
Would be interesting if they used some seed capital and took a look at taking a 10% holding in a Canadian company called COPL. Could get the Wyoming exposure back and also have a free run on the great potential of OPL226. Sounds nice.
I agree that HSBC and RBC (surely for technical reasons) appear to be messing the SP, Art and the COPL plans around for the last week. Just trying to keep under 5% but trading to get a lower price helped by wet blankets selling whilst looking at our long term excellent prospects as a PRODUCER of oil with lots of acres of prime oil real estate where the big boys are playing.
I find it interesting that the former owner of Atomic received $10 million on final closing and 818,873,319 shares in COPL as their final settlement [from CSE website under XOP - Business acquisition report - English Canadian Overseas Petroleum Limited - Date: Aug 27, 2021.]
819m shares is 4.96% of 16.5bn i.e. just under 5% for a non-UK TR1...
If i was 73 years of age, i would have been selling 600m/700m of my COPL shares on relist and along with my $10m i would be a very happy newlywed. Still leaving me with a nice stake going forwards.
I believe this is where some of the shares have come from.
Dear Art,
You have given your IIs nearly three weeks to take their positions. All they are doing now is fooking you and COPL around.
Time to take the great news handbrake off, put the PR into gear and slam that gas pedal down...
Nigeria is a FREE RIDE and the cream on the cake.
Nigeria needs more oil and we are in with a shout at something that would pay for all prospects in Wyoming forever and bring us closer to a billion doller oiler for NO CASH UPFRONT.
LTHs have paid for this chance for the last 7 years...
COPL should keep OPL226 and grow Atomic assets organically.
I believe that our 100% owned Federal Deep will be a very exciting discovery and near our pipeline so could be producing quickly to give us cash. Plus nearby area leaseholders are interested in talking with COPL.
OPL 226 is a FREE RIDE and is the cream on a very interesting Atomic cake.
I very much like Art's comments:
Our Wyoming assets continue to perform well beyond our initial expectations
Crude oil production has increased 123% from April 1st, and continues to increase weekly
crude oil production has increased by 24% from our last update just two weeks ago
oil production will continue to increase as the surface well site production facilities are enhanced
We are excited about our 100% owned Barron Flats Federal (Deep) oil DISCOVERY announced TODAY
The Company's ENVIABLE block of leasehold as well as its production facilities will allow for additional significant oil production
the Company's net zero gas flaring production
With the oil price and our assets performing well ahead of expectation, the Company is in a very good position for the short, medium and long term
Very nice update. Well done to the COPL team.
I just hope they have received the message that the PR and RNSs need to be better written.
The new drill information was completly lost in the last RNS! Such an exciting drill prospect needs to be in a separate RNS.
Update from the HMV (His Masters Voice) crew. We are still buying! We have our instructions and our client wants your R&D people as they are doing a great job.
Message to the seller of the last few days - you do know that you can sell at £5.50 or above? Just checking as you are doing our job for us and giving us cheap stock. Perhaps you might want to stop for a little while and then sell a bit at £5.50 or above?
Now what colour should i choose for my 911 turbo?
We will be quiet for today as the seller is doing the job for us. We will bang in a biggy after close.
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