The ability of Arthur Millholland to destroy shareholder value while living the life himself is well documented over many, many years at different companies and has already played out as expected at Canadian Overseas Petroleum (COPL). What is NOT stated in today’s trading statement suggests things are going to get much worse. What is said is a desperate ramp to help with the ongoing death spiral conversion.
Well knock me down with a feather. Canadian Overseas Petroleum (COPL) the company run by serial value destroyer Arthur Millholland, and its death spiral provider has fooled the morons again. Okay it is not hard to fool folks with the collective IQ of a park bench but to manage it so soon after the last time is good going.
I recently wrote a piece criticising Canadian Overseas Petroleum (COPL), and as a result appeared to upset some people on the bulletin boards – not that I really care! – and having now looked more closely at its latest financing deal, I’m even more convinced that it is a company to avoid like the plague.
Does our own BB savant PL still believe in reports from this company’s house broker saying that Canadian Overseas Petroleum (COPL) shares will roof it? Who is going to break the news to him that Santa and the tooth fairy are not real? Today’s Q2 numbers try to hide the point but are truly appalling.
Canadian Overseas Petroleum (COPL) seems to have been getting a fair bit of attention today after releasing an incredibly rampy resources update for its Wyoming asset, with the focus being on oil in place rather than actual reserves and what might be extracted.
I have written once again to the FCA, as the regulator of the Standard List, urging it to act against Canadian Overseas Petroleum (COPL) as it struggles to get its 20p-a-share bailout placing away, despite misleading investors. My letter is below: