Canadian Overseas Petrol... Share Discussion Threads

[pwhite73] 12/2/2024 12:08

If you can trade this fine. All I'm saying is that the door can be slammed anytime by the Secured Lenders. So you could have made a profit of 30% today but 15:00pm an RNS can come out advising of "suspension pending clarification of the company's financial position" or "foreclosure as the company has to failed present an acceptable restructuring plan to the Secured Lenders".

That's the risk you take here. The company has already advised you of a deadline 29/02/24 in which they have to meet the Senior Lenders demands.

[criticalthinker1] 12/2/2024 12:06

Got a good feeling here.

[orkneyarab] 12/2/2024 12:02

OUCH! LolBWAHAHAHAHA

[zxie] 12/2/2024 12:01

Hi p73 perfect door

[bmwman3] 12/2/2024 11:58

The shorters and de-rampers are getting burnedIt is very soon flying and 0.3 before next news as CFO gone and CEO appointed by lander to make sure, JV deal and finance secure is on table again.

[orkneyarab] 12/2/2024 10:15

It's just a little tree shake, nothing to worry about.BWAHAHAHAHA

[orkneyarab] 12/2/2024 08:44

Lots of buys coming through now. You got to larf. BWAHAHAHAHA

[pwhite73] 12/2/2024 08:32

The Donald - I agree they must have this report already. Now it could be that as the Shareholder Action Group has uncovered so much fraud and corruption committed by the directors and the financers the Senior Lender may well decide not to go ahead with the foreclosure and keep shareholders onboard for any plans going forward. If they do then this will multibag. If they don't then the stock will certainly be suspended within the next two weeks.

[the donald] 12/2/2024 08:29

Well the senior lender should have that report. Their update to the market is critical wi5hijnthe next couple of weeks.

[strawberry alarm clock] 12/2/2024 08:28

17.3 million sell You gotta larf BWAHAHAHA

[pwhite73] 12/2/2024 08:23

Zen12 - The suspension could happen anytime because all of the agreements with the Senior Lender not to file for administration since the company defaulted on 01/01/2024 result in the shareholders ending up with nothing on or before 29/02/2024. So the Shareholder Action Group can rabbit on as much as it likes about legal action and the company about a restructure but the deadline is 29/02/24 unless the Senior Lender extends. If you're in this be careful.

RNS 10/01/24 - Next Steps.

The Forbearance Agreement committed the Company to the following:

1. Subject to certain conditions precedent and the continued compliance with the terms of the Forbearance Agreement, the senior lender agreed not to exercise certain rights and remedies, including foreclosure, that it might otherwise have as a result of the default(s) under the Senior Credit Facility until February 29, 2024;

4. Within 45 days, an agreement with the senior lender on a process and milestones for either a comprehensive sale of the Company's US assets, a foreclosure of the Company's equity interests in its US assets or a "take out offer" in an amount satisfactory to the senior lender.

5. Within 30 days, a business plan must be delivered to the senior lender that includes proposed steps and terms for the sale of the Company's US assets.

[strawberry alarm clock] 12/2/2024 08:20

Look at those 5million block sells going through - this is going red

[the donald] 12/2/2024 08:10

The sellers look like they see the news as negative.

[ny boy] 12/2/2024 08:09

It’s got as much chance of staying afloat as Titanic on her maiden voyage 🤔🤦🏻‍♀;️🤡

[zen12] 12/2/2024 07:59

Both good news today, but you talking suspension lol. They have reiterated restructuring discussions are ongoing so can't see why you would think this.

[pwhite73] 12/2/2024 07:43

The CFO resigning and Tosca out are both good news and so is talk of restructuring. However shareholders could still end up with nothing save any returns from legal action that will be years away. Until the secured lender announces an extension and shareholders will kept on board this is still too risky. Could be still suspended any day at anytime.

[gold001] 12/2/2024 07:38

It doesn't make a difference they won't suddenly turn a profit

[mibo1] 12/2/2024 07:23

Think some panic setting in for shorters tbh. Gaffney going is great news