Canadian Overseas Petrol... Share Discussion Threads

[edgein] 16/12/2020 08:46

They're quiet today as they've been caught with their pants down just like you chap. I guess you missed the part about the first payment being $8m debt.

Regards,
Ed.

[edgein] 16/12/2020 08:45

Try reading the RNS again it'll sink in eventually.

Regards,
Ed.

[justtrying1] 16/12/2020 08:44

Looks like many werr spiked and are selling out at lossesThey have no detail about how they will raise fundsPlacing at 0.0018 or lower and placing shares being dumpedU can also tell from the usual ones into oil shares on twitter they are very quiet today for a reason because they have been offered placing shares

[justtrying1] 16/12/2020 08:43

Yeah u keep quoting these fantasy numbers

[edgein] 16/12/2020 08:36

Good to see oil staying over $50/bbl, especially when some companies can acquire the stuff for just over $2.00! :)

"ROI over 50% with $2.18/bbl acquisition cost vs a value of $7.52/bbl at NPV (10%)"

Regards,
Ed.

[edgein] 16/12/2020 08:34

You would be safer closing that short before the next wave arrives. The cap here is just £12m there are much safer shorts out there than this now that's for sure. When the metrics and the extent of the RBL sinks in for you you'll realize what old Ed is talking about.

Regards,
Ed.

[justtrying1] 16/12/2020 08:30

Didnt last all the massive sells are hidden hence the price is tumbling

[edgein] 16/12/2020 08:23

When you get down to the T&C's of this one its little cash and mostly RBL against the 31mmboe of 2P. I didn't even think you could get a deal as good as this. Opportunistic due to the covid crisis, you shrewd chap!


Assumed Debt: $26 million at closing
Total Additional Debt and Cash: $15 million at closing
COPL Common Shares to Atomic Shareholder(s): $4 million priced at closing

These don't have to be paid until financial close next year, just $8m early debt payment and the small deposit. Should hear more about 226 in the mean time as it has the potential to add a lot more than 31mmboe at 15%! But I have to say for a £15m company 31mmboe is a very good start!

Regards,
Ed.

[smcl] 16/12/2020 08:16

Agreed Ed.

[edgein] 16/12/2020 08:09

Art you trying to give these shorters a nightmare Christmas, cap was only £10m before this:

"Acquisition has a high NPV asset at a price well below traditional metrics: Proved(P1) value of $101.7mm (net of royalties); Proved + Probable(P2) value of $185.8mm (net of royalties)."

Regards,
Ed.

[daar] 16/12/2020 08:07

Billions and billions of shares to be issued?

[justtrying1] 16/12/2020 08:07

Never lasts with this dog

[justtrying1] 16/12/2020 08:05

Here comes the sell off

[edgein] 16/12/2020 08:04

Short squeeze again? MM's showing no mercy? COPL can be hard to get buy orders filled on at times for sure.

Regards,
Ed.

[edgein] 16/12/2020 08:02

U calculate $8m into cash flow, these are producing assets currently doing 1400boepd and rising to 5000boepd within 2 years.

Regards,
Ed.

[justtrying1] 16/12/2020 07:59

U calculate 8m debt into shares

[edgein] 16/12/2020 07:58

Too right Art, too right!

Arthur Millholland, President and CEO, commented: "This is a game-changing acquisition which will materially reposition COPL as a production company with assets that have a long-term lifecycle and rapid production opportunity. Oil production assets of this quality, having an incline curve rather than a decline curve, are rarely available for purchase. Circumstances surrounding the Covid-19 situation created this favourable opportunity for COPL. With this acquisition, in addition to the substantial upside potential already present in our Nigerian offshore project, the Company is now strategically well placed to deliver enhanced value and returns to shareholders."

Regards,
Ed.

[edgein] 16/12/2020 07:55

The $8m is debt! A small placing to Atomic and a little cash. Then staged over the year for signifcant production and reserves for COPL the non-producer. If you shorters are fast you might not get that badly hammered at open. :)

Regards,
Ed.

[justtrying1] 16/12/2020 07:54

Massive dilution again from arthur Dnt be spiked Dnt be taken in by these foolish headline numbersThe deal will never happen

[smcl] 16/12/2020 07:53

Good strategic move.

[barnes4] 16/12/2020 07:51

Not me that’s for sure

Not having mine for less than a penny

Rofl@the inches

[justtrying1] 16/12/2020 07:44

Where they going to get 8m to start with