Canadian Overseas Petrol... Share Discussion Threads

[edgein] 14/8/2019 08:16

Jamie,

Yes good to see that. costs down from around $400k per month to around $333k. Their office costs around $700k per year which seems a little steep for a small company. But good to see them reducing cash burn. Also mention of the French company helping them secure the project financing is new too. It also sounds as if they're gonna be making progress in Moz too this year with action due on the PSC in H2 '19. Hopefully material progress will be made in the near term on the financing.

Regards,
Ed.

[livup967] 14/8/2019 08:09

thanks JAM''
won't be long now'' and as drilling is still on for 2019
that has not change''
ALT funding is coming soon for sure..

[jamie414] 14/8/2019 07:32

Costs have been cut rather than another small placing.Alt finance/PB news can not be far away....

[edgein] 12/8/2019 14:02

Liv, asm,

Agreed chaps, just a waiting game, I'm with you I reckon Art doesn't want another OIL in certain respects so he'll do his best to get this over the line. As you guys suggest things just happen more slowly in Nigeria/Africa.

Regards,
Ed.

[smcl] 12/8/2019 13:55

Still no news....

[livup967] 09/8/2019 19:41

that's the spirit ASM'' LOL''
stick it to the man

[asm5] 09/8/2019 19:17

I have every confidence in Arthur and his team. As I said before it’s not easy doing business in Nigeria, plus there are lots of pieces which need to come together. If there is no news coming out it does not mean that news is bad. All of us are entitled to our opinion and my opinion is that Arthur will deliver!

[livup967] 09/8/2019 18:01

i try not to look myself EDD'' lot of hate and noise
on there and lack of understanding towards other posters
with a LT view

this can rocket quick with the right news''
i know it's frustrating'' but it will come one bright
morning when we least expect it LOL''
KIND OF AN ART SURPRISE.
lots of PI will be locked out no doubt
or will be in a hurry to close there short

REGARDS

[edgein] 09/8/2019 16:18

Liv,

Is the bashing going on LSE bb? I've not read that board in weeks. They can bash all they like, I'm still sitting on my hands waiting for Art to update us on what's going on. If they're all on the outside looking in it'll be interesting to see what happens if Art delivers the PB or Alt f.

Regards,
Ed.

[livup967] 09/8/2019 15:55

2 true EDD'' but it was nice to see a flurry
of buys again'' but as KCO said the 10% trader was
straight in there to disrupt it'' but we are still up
with half hour to go that's still a positive considering
this endless bashing

good weekend all
we will try again next week

[edgein] 09/8/2019 12:28

Liv,

I would imagine the volume would be higher if its leaking. Looks like group of little traders invaded for a little while. You can match the buys and sells of equal size on the live trades. We are due news very soon on what Art plans to do next. Last one was only a tiddler of a placing, will he get the pb or alt f next?

Regards,
Ed.

[kcowe] 09/8/2019 12:00

sold into straight away .... confidence here at an all time low.. that 10k buy got pulses racing for a bit .

[livup967] 09/8/2019 11:50

is there a LEAK??

[livup967] 08/8/2019 21:12

could not see any reason for the drop today
plenty of buys to sells'' MM bored perhaps??
or it's the drop before news who knows LOL''
just trying to be optimistic here

see where it goes tomorrow

[asm5] 08/8/2019 00:24

Good summary Jamie!

[smcl] 07/8/2019 17:35

Hi Jamie- hope your right. I reduced holding by a third as concerned about outcome. Still hold a sizable amount though. Time will tell....

[jamie414] 07/8/2019 16:43

And strangely enough ends green again.

[jamie414] 07/8/2019 16:23

Some people don't know what they are talking about (I don't mean on here btw)

[jamie414] 07/8/2019 16:22

Sorry I've been working the last few days.Nothing has changed whatsoever apart from some PI's are bored and pulling out, some expect a placing, some are shorting and some don't even know what they are talking about lol.I'm still holding and have no reason to be concerned with the current share price The conversations I've had were very positive however we shall see....

[livup967] 07/8/2019 11:38

we should see support around these levels IMO
famous last word LOL''
we will see what happen

GLA that's still waiting patiently for a good outcome

[oilbuy] 07/8/2019 08:22

All down hill from this RNS. $400K per month. Id like to see the books!30 June 2018, the Company had consolidated cash balances of US$1,736,000. The Company intends to use the net proceeds of the Placing to fund the Company's on-going general and administrative expenses. This principally covers a full technical team including geologists, a geophysicist, reservoir engineers, a drilling engineer and in-house Counsel, which are approximately US$400,000 per month, as the Company seeks to progress its projects in West Africa

[smcl] 06/8/2019 18:32

Hi Jamie- any thoughts on current situation?

[smcl] 06/8/2019 18:09

Must say things looking decidedly scary here with the continuous share price drops and increasing sells.

We need news and soon.

[indivestor] 06/8/2019 17:15

COPL is 100% out of cash based on their cash balance as of March 31 plus the additional dilutive financing at their current burn rate of $400K USD per month. Personally, I think the gig is up. It would pretty much take a miracle at this point to see OPL 226 succeed.

[edgein] 06/8/2019 08:31

liv,

Yeah a kinda typical pattern with sells early on and a recovery after lunch. Hopefully Art will give us a new trading pattern soon if he seals one of these deals. Still in a holding pattern at present. I'm still not selling any until I see some drilling here.

Regards,
Ed.