Canadian Overseas Petroleum Limited

-0.025 (-0.57%)
Share Name Share Symbol Market Stock Type
Canadian Overseas Petroleum Limited COPL London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-0.025 -0.57% 4.375 08:06:32
Open Price Low Price High Price Close Price Previous Close
4.50 4.375 4.50 4.375 4.40
more quote information »
Industry Sector

Canadian Overseas Petrol... COPL Dividends History

No dividends issued between 07 Jun 2013 and 07 Jun 2023

Top Dividend Posts

Top Posts
Posted at 07/6/2023 06:48 by gold001
It's great commentary. And factual which is rare with COPL.
Posted at 06/6/2023 22:39 by edmundfitzgerald
I suspect the kick in the nads is going to be additional bonds.

COPL don't have 'upto $12.5m' left as Tiburn suggests. That is just plain clumsy without fact.

I'd guesstimate spends since bond: are at another $1M in fees/legals, $1m in works. $4.5mm in GGS.
June guesses: small operating loss. $1m field works spends.
July guesses: COPL lose upto $1m in operations, unless production miraculously rises whilst injection is at survival rates.

The hedge ensures loss making if they are not still.

August,whence the return of the covenant is due they need a balance of $2.5m.
I dont think production will carry that, let alone for development works.
E.G wanna frack CC? It's about $400k.

Better to take those bonds than to lay down and wee upwards whilst wait a for a tornado to save you from getting wet.

Can the JV save the day? Due October, he didnt say whioch Oc IMO with CC recompletions hardly exciting. lse were suggesting 500-800bopd from each of those 7 by they way, unstimulated.
Beware forked tongues and pondlife.

Posted at 31/5/2023 10:01 by oscar nosher
Hey keep wearing your COPL tinted glasses, waving your COPL pom poms and wearing your “I luv ART” t-shirts



Posted at 24/5/2023 06:15 by jammytass
Arthur S. Millholland President and Chief Executive Officer – 2022 salary - $671,700.00 (CAD) a 42.46% increase over 2021.

Ryan Gaffney Chief Financial Officer – 2022 salary - $580,800.00 (CAD) a 43.72% increase over 2021.

Rod Christensen Vice-President, Exploration and Exploitation – 2022 salary - $412,000.00 (CAD) a 49.81% increase over 2021.

Richard Mays Vice-President, Business Development and General Counsel – 2022 salary - $316,500.00 (CAD). No change?

Robert Dion Vice-President, Finance and Controller – 2022 salary - $254,400.00 (CAD) a 505.71% increase over 2021 (what???)

A Family member employed under normal commercial terms (assumed to be Elizabeth Millholland) – 2022 - salary $288,000.00 (CAD) an increase of 71.42% over 2021.



The Reality:

Senior COPL employees enjoy minimum 40% pay increase in the last year.

Shareholders receive an 87% decline the value of the their share holding since COPL’s readmission to trading in August 2021.

Anyone else had a 40+% pay increase over the last 12 months?

No, I didn’t think so.

Cp lse

Posted at 08/5/2023 22:42 by oscar nosher
Nasty gaffer will be wearing his rose tinted copl glasses and waving his copl pom poms

Whft a sad pathetic loser

Posted at 07/5/2023 14:54 by edmundfitzgerald
That's a given Gaffer, but he sure does make it difficult to have any faith.

FD has no value and no one has a a good story why.

I bought in on the commodity and the Shannon production story. I chose COPL because I thought marrying the two was really smart.
I had an alternative path where I was just going I to put I to Exxon , BP and the giants. I wanted to avoid the Green agenda, so ended at COPL. I made some bad calls for sure.

I used my vote on my holding to vote him out, Cold hearted view that someone else could do a better job.

Operationally, that 'better job' is arguable? I think he could have done better.

Communication and shareholders relation? It's a clown fest, it doesn't seem a serious professional company at times.

Posted at 07/5/2023 11:14 by edmundfitzgerald
75% of my holding is sold for 30% of the value. I'm a lucky LTH.

Mentally I've written off gaining much back, small hopes, a sort of something good must happen by sheer probability factors.

Arthur would like PIs to sell as opposed to vote against him.The share price shows many have, to the detriment of existing holders and the share price.

The shareholder vote is an annual right of investors to make their voice heard.
He doesn't seem to like it and it's obvious why!

His job isn't to tell folks sitting on huge losses to sell.
(If the mail is true, no offence intended to the poster, but COPL forums will be COPL forums).

Posted at 22/4/2023 20:59 by edmundfitzgerald
I don't think you have done that gaffer, others have.

There is clear delineation from positive, even over positive to those claiming difficult things are easy, or maximum outcomes always happen, even when they are proved wrong time and time again.
You're probably as much as a victim on one way COPL dialogue as anyone else.

Classic COPL behaviour, a few LSE attack dogs bark June for completion of the GGS. When the company even said, "2-3 months from April 29th",
So of course LSE claim working in June, naturally, boys will be boys.

Realists take June 29th-July 29th pending nothing going wrong. In logistics plenty can go wrong and they need to accept that.

My 3000 bopd by August, now with added clarity of having 8 wells connected to a GGS system, viewed as amazingly negative by many naysayers, now has likely strengthened.
Ill still rip hands off for that, with stated position of drills later in year.
Strong spirits required to think 9000 bopd in August is realistic, maybe even white spirit from B&Q decanted.

Oscar p'raps mirroring behaviors of said LSE posters, whilst having opposition views, leaves you just as guilty?
Just keep smiling regardless of outcomes, the only choice.

Posted at 19/4/2023 19:36 by edmundfitzgerald
155 bonds from 175 bonds already. I think that makes another 380m if the rest converted.

This board seems smarter than LSE on the bonds so we know the holders won't all behave the same way.

The cash or share settlementd appear a more complicated decision tree.
Why would they take share settlements and that push the share price below the bond conversion price? Thus creating losses on their bonds or at least lower value.
After that lower price the 5 day vwap would push the share price lower and lower each time.

I think we agree they're for the long game and convert to their benefit.

Volume: you have a point, depends on these news items but I think sold into too. Plenty of opportunities for PI to buy on peaks thinking excitement is on the way.

Don't agree the lender. I think they hate bankruptcy and they have made a packet off copl already. They just need copl to stay afloat.

Posted at 04/2/2023 08:36 by loglorry1
@gaffer73 forgive me if I'm wrong but weren't you arguing with me that all was well with copl and the default was just some sort of technical issue arising from the Atomic transaction?

I'd be interested to hear if this is still your view?

The prospectus paints a dire situation. We don't know the full terms of the CBs (is the CB prospectus available?), but I would not be surprised to learn that if a default on the senior persists they can also request accelerated repayment or negotiate a lower conversion price.

There is an anti dilution clause in the CB so if an emergency raise happens at say 3p the conversion price will be reset down.

Perhaps the worse news though was the speed at which they must raise new capital. They have less than a month of money left. They will then simply not be able to pay bills. Unfortunately, in these situations when suppliers see this sort of thing they generally suspend all trade credit and move to upfront payments. This means copl will probably have to suspend any ongoing work programs. We know production will only decrease unless cash is spent on the assets.

So what's the way out?

There are two ways as I see it.
a) someone buys the senior at a fraction of par then winds up copl and sells the assets. They might get £10m in a distressed sale so buying the senior at 20c on the dollar might work. This wipes out CB and equity.
b) do a deal with CBs to change conversation to a full death spiral where they can convert at a discount to current share price in return for issuing a few more CBs. The CBs will need assurance that the senior can't pull the rug from under them until they can convert.

I see b) as most likely. Art can continue his daft unregulated ramping on Vox and the CBs can sell into any mug excitement he can create.

I'm not sure b) is feasible and it will destroy the share price anyway but at least shareholders may retain some value for a bit longer.

The idea of a RBL is daft and won't happen. The JV idea I think is just made up or at best will take many more months and need a further cash commitment from copl.

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