Canadian Overseas Petrol... Share Discussion Threads

[edgein] 21/8/2019 15:08

msk,

Yeah some were convinced that another placing wouldn't happen, you cannot do that here I'm afraid. Its still possible this may not be the last of the £500k placings, we'll see in due course. Its still high risk high reward, Nigeria being the biggest risk factor. But hopefully Shoreline can get that pb and rig contract secured and we can move on from there.

Abdul,

All 5 wells drilled on 226 have hit hc's, we're downdip of the huge development on the adjoining block. Noa-2 will be an appraisal of the contingent discovery on Noa. Also the same tech team that had 80% strike rate at Oilexco. So its about the best upside of any AIM oiler, but its capped at £3.5m for a reason, market doesn't see it happening. Are they right or are they wrong, if they're right we lose what we've put in, if they're wrong we'll make an extraordinary amount of money. We won't be capped at £3.5m if they make it to well number 4.

Regards,
Ed.

[msk7] 21/8/2019 14:57

Edegin it looks like that way after todays placing.everyone were expecting Alternative Finance(me included).. but looks like Art has snookered everyone.well done Art.

[asm5] 21/8/2019 14:53

ED
I’ve not done as much research as you but I do believe that we have a good asset and it’s worth waiting.
Abdul

[edgein] 21/8/2019 14:48

msk,

Could be possible, maybe pb and service contract followed by alt f. He's got 2-3 months breathing space again. Look at the number of times we've hit 0.1p and bounced since May this year, once it even went to around 0.2 intraday. Always worth having a few trading shares as well as a core holding.

Regards,
Ed.

[msk7] 21/8/2019 14:18

Arts being clever imo why raise Alternative Finance now.wait for the pb and approvals and then raise big money at much higher price..£500,000 is jack all.am with Art.

[livup967] 21/8/2019 14:13

imo those sells will be taken out.
by monday tuesday not long at all until we are back to 12 -13
if we take a LT view'' as funding is in place now

and there is nothing to see here for now''
we are at the bottom and can only rise going forward

as we are back at that 0.1p share cap after dropping below
for 1/2 hour the bounce is on DYOR

[edgein] 21/8/2019 14:06

msk,

Yeah SLB are spending a lot on the adjoining structure to Noa, if you look at COPL's seismic especially on the Noa north you'd almost say they were contiguous.

Regards,
Ed.

[msk7] 21/8/2019 14:03

totally agree Edgein.OPL 226 is massive.just have to look at the investment of $700m on Oml 83 and Oml 85.

£500,000 raise is peanuts.

[edgein] 21/8/2019 13:43

msk,

Not sure that its four, more like 2-3 months. That should hopefully meet the requirements as suggested in the RNS, its just to fill the gap until alt F in place. If BPC can get alt F and more than COPL needs then I cannot see why Art can't sort it, our assets are much much better.

Regards,
Ed.

[msk7] 21/8/2019 13:10

todays fall well overdone.will not be long before we are at 0.13p again in the next few weeks.let the panic holders sell out and those who believe in the story stay.we have 4 months cash now and hopefully will get a better deal on the alternative financing in the future when everything has been ticked.todays news means better alternative financing options will be available in the future.fingers crossed though as Copl seems always seems to disappoint.

[edgein] 21/8/2019 12:34

liv agreed fella, I've a similar strategy to you I've been adding millions of shares here too. Did that at EUZ at their recent placing too added many millions between 0.013 and 0.017 and look at it now! Its got more legs too but not nearly as high potential as COPL. I could see these 10 bag if they sign off on the parts of the financing let alone drilling. Buying at the bottom suits me very well. Had these stormed off I wouldn't have had nearly as many shares. Art has said this financing is to bridge the gap to the project financing, well hopefully gap now filled for at least the next few months given the reduced cash burn.

Regards,
Ed.

[livup967] 21/8/2019 12:15

yes MSK'' the only way is up now we are back to support
fill your boots if you got it IMO DYOR

[msk7] 21/8/2019 11:14

PET went up 400% when they raised their cash.

[msk7] 21/8/2019 11:12

Livup87 totally agree...

let the distressed sellers bail out.

its only £500,000 they have raised and not millions.
as somebody has stated on LSE their admin expences have been cut down to £130,000 a month.

so we have enough money for 4 months and hopefully by then everything will be sorted.
in 4 months this could be a 5 baggar.look at BPC today.

[livup967] 21/8/2019 10:58

what a good top up OPP'' the fundamental has not change
big buys going in at this LEVEL

''keep calm watch and lern''

[msk7] 21/8/2019 10:13

Very quiet here today has the Placing shocked everyone who were expecting Alternative Finance?

[currypasty] 21/8/2019 09:40

the Company will issue 500,000,000 new common shares ("Placing Shares") at a price of 0.1 pence per Placing Share

[traderglt] 21/8/2019 09:30

Forever the optimists on here - yet more money to finance directors lifestyle lol

[msk7] 21/8/2019 08:57

Petrel Resources had a Placing at 1.25p and it rose nearly 400%.At least the Placing is really small and at a reasonable price.This gives the company more breathing space to get the Performance Bond and NNPC/DPR approvals and then the share price will rise.

[livup967] 21/8/2019 08:52

buyers are coming back as expected
to chase share price back up hold tight
don't let them have your shares on the cheap
i expect them new shares coming to market
has already been forward sold and we are where we are
don't let them fool you

GLA

[livup967] 21/8/2019 08:13

i think we are all use to share price at 0.10p anyway
and can handle that for now
anything over that is a bonus

[livup967] 21/8/2019 08:10

we could get a bounce after the shock start
£500k in the bank is still a positive

PB news can't be far away
and the wait continue