Canadian Overseas Petrol... Share Discussion Threads

[asm5] 20/6/2019 15:26

Arthur has a fantastic team with good technical expertise which the Nigerians need.
Personally I think this share will do very well and as such intend to keep mine.

[nicky21] 20/6/2019 15:16

Cannot believe Investors are selling with the newsflow due.

[barneygumble27] 20/6/2019 08:35

1 trade lets hope its code for news on bond

[nicky21] 20/6/2019 01:13

jamie414 not trading these no more..

news is about to land soon.

[jamie414] 19/6/2019 23:43

Are you being serious in that post! The LSE panicked? when you have lost at least a million of your shares being in and out and trading like a muppet! hahahaha funniest thing I've read all day.Maybe you and Bonehead should make a private group and you can both spare us your waffle.Egg head.

[nicky21] 19/6/2019 23:18

Got an email from Cathy tonight and the vibes i got from the e mail is that its very close now.

So fellow investors just try and hang in there.

The Performance Bond will kick off all the newsflow.

[smcl] 19/6/2019 22:52

Ok nicky21. On holidays so just check in..

Thanks for all your posts.

sm

[nicky21] 19/6/2019 21:54

Same with me.
Just hope the Performance Bond news comes out ASAP.

[smcl] 19/6/2019 19:32

Nicky21- lets hope for a good result soon.

[asm5] 19/6/2019 18:46

Yes
and it was me who emailed Cathy.
I'm only on this board, not the LSE!
Its good that someone has posted it there as all positive information helps!!!
Abdul

[nicky21] 19/6/2019 18:36

that was posted here first not LSE.

[indivestor] 19/6/2019 18:22

Taken from LSE: I emailed Cathy; Here is the response. Having worked with the company for about 5 years as their IR representative, I too have the same opinion as you--very professional, has had big success before in the North Sea, and a great team works with him. He is very committed to COPL and has purchased a lot of shares right from the start so his average price is rather high. I believe we will be hearing news quite soon--drilling is expected to start Q3, likely late in that quarter. We are waiting for the news on the bond ($7M) that is from a Nigerian bank and then a few other items will fall into place after that, like the final agreement with the rig company that will be doing the drilling and all govt approvals. We are nearing the end of a long a drawn out process. Feel free to email me, or Iryna, any time

[edgein] 19/6/2019 14:30

Kcowe,

Yes its definitely not for widows and orhpans. However I reckon the Nigerians are behind this consortium due to Art and his tech team. It will take a mighty effort to get this to production, something Art has lots of experience of, this large block is more than just Noa and its compartments, its huge. Its more than just drilling 4 wells and hoping for the best. The Agamore case is interesting too as it shows the DPR/NNPC aligning their legal team with Shoreline (and previously renewing the licence too). Its also not the first time that a large indegenous producer has relied on a smaller company to acquire or develop assets in Nigeria. See SLE and midwestern. So yes if everything goes to plan, performance bond, pre-drill financing for the Shorecan $20m and service contract these should be £30-50m as you say. Perhaps then a small raise until we get first production from a much higher share price. If they pull this off including the 4 wells coming in on prognosis and moving to phase II FFD then there's no reason it shouldn't be mid cap territory.

However its Nigeria and nothing is simple, but they could have killed it off by not issuing a new licence. They could also have killed it off by not progressing the performance bond. So its one stage at a time and it seems to be making slow progress (I've never seen fast progress from a company operating in Nigeria). So slow progress is top gear in my book. Hopefully something will happen within the next month or so. Not one of my biggest holdings but worth tucking some millions away just in case he seals the deal.

Regards,
Ed.

[kcowe] 19/6/2019 14:14

Edgein , The market assigns a 5-10% chance of this coming off based on a value of bond announcement and service provider finance. values of 30 -50 mil market cap would be fair given those pre diaposed announcements coming to fruition .. massive upside
Down side is Shorecan seeing their 40% partner hemoriging cash ... bleeding to death
and the nigerian goverment seeing the same ... whitey gets a kicking ...which is popular in politics ....... down side zero .

[jamie414] 19/6/2019 14:07

lol very true!

[edgein] 19/6/2019 14:00

Its hard to say if its a leak, this one has had a trend recently of jumping 20-30% and then drifting back towards 0.1p again. Can't be bothered trading these at the moment as its possible to be caught out on the bond news. If Cathy is still confident of a Q3 spud then there's lots of stuff that needs completing before the rig mob.

Regards,
Ed.

[edgein] 19/6/2019 13:58

Nicky,

Not read that board for several days, its usually Bonum preaching about how right he is.

Regards,
Ed.

[nicky21] 19/6/2019 13:35

whats with all the buying frenzy today..

is news regarding Performance Bond and paperwork being finally done leaking??

well something is defintely in the air.

[330ci] 19/6/2019 13:29

one of the 10m is mine

[nicky21] 19/6/2019 13:23

sorry 3 10m buys gone through.

[nicky21] 19/6/2019 13:21

Mms only allowing you to buy 7m online then it goes to Nt..
nice 10m gone through..


are we close to good news??

[edgein] 19/6/2019 12:03

Asm,

Interesting, thanks for posting that. Sounds as if Cathy believes that all the parts will be in place for spud during Q3. That'll be performance bond, service financing, rig contract and remaining funding balance for the 4 wells. Sounds like the next Q is going to be a busy one. At least that second tranche of funding takes them towards the end of July. Perhaps have more than one piece of news before then. To get this spudded before the end of Q3 the rig would need to leave Singapore around late July/early August. So July could be a very busy month for news, fingers crossed. I'm sure the DPR/NNPC would be quite keen to add up to 40,000bopd to the country's production.

Regards,
Ed.