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.
Anyone who invests in a company run by serial value destroyer, Arthur Milholland, is asking for it. After deceiving investors ahead of its last placing, his latest vehicle for self enrichment, Canadian Overses Petroleum (COPL), has today served up a new debt structure, which is so utterly horrible it tells you just how badly Milholland and Canadian are perceived. I discuss this, the shambles at Mirriad (MIRI), Eden Research (EDEN) and at cash strapped Asimilar (ASLR).
I share a few thoughts with you - truths one cannot say in public - about the game last night. Notwithstanding that, I enjoyed the match, and the Northern Ireland girls held their heads up. Then, I discuss Canadian Overseas Petroleum (COPL), explaining my Christmas sub-10p target - the shares really will halve from here. I look at Shield Therapeutics (STX), MGC Pharmaceuticals (MXC), and Science in Sport (SIS) which, at every level, looks a stinker - even after today's 22% fall, the shares are grotesquely overvalued. I explain why. Finally, I describe why Malcolm should have learned from IQE (IQE) before continuing to tip Zoo Digital (ZOO) - as he has again done, today.
I mix metaphors, after a hard session watering the lawn for ShareStock. Thereafter, I discuss: Canadian Overseas Petroleum (COPL); Wandisco (WAND) and a wasted decade; Argo Blockchain (ARB) and why Mark, who is right about most things, is wrong; Vast Resources (VAST); Tertiary Minerals (TYM); Guild ESports (GILD); and Wildcat Petroleum (WCAT).
The idea of announcing a death spiral - while pretending it is not a death spiral - at the same time as a bailout placing, is odd. Who would want to buy into a placing, when you know that, at some point, a blizzard of confetti will be dumped?
This has been the most stressful day in Greece for a long while; I really do need a holiday. I explain all. Then I look at Sensyne (SENS); Chill Brands (FRAUD); Blue Star Capital (BLU) and an AGM shock that may trigger the collapse of the Bixby, Edwards, Frangos, Story and Peter Wall house of cards. Then it is onto Canadian Overseas Petroleum (COPL), where today's placing vindicates me. I argue that a 20.75p share price is a compelling shorting opportunity on a risk-reward basis. Matthew and his dog will enjoy that section, as Arthur Millholland, the snake oil salesman at Canadian, really is talking shite in today's release. I am so angry.
I have been bearish on this for a while, unable to understand the valuation from the IPO. Shares in THG, The Hut Group as was, now trade at a new low of 95p. There are a couple of matters to discuss ahead of numbers on Thursday, notably a management departure and suggestions of late payments to suppliers. Is this window dressing as per Canadian Overseas Petroleum (COPL) and its December 31 cash number, or something worse?
These are the most-read articles and most listened-to Bearcasts of the week. The most read non-Tom non Darren story is Takeovers and the (boring) worlds of BT Group and Vodafone by Chris Bailey at Number 8 or Number 14 if you include Bearcasts.
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:
I discuss: Twitter and the bid from Elon Musk; Petropavlovsk (POG); Canadian Overseas Petroleum (COPL); FinnCap (FCAP); today's trading statement; and problems with Greek workmen.
In response to some dynamite exposes on Shareprophets about Canadian Overseas Petroleum Limited (COPL), the company released a bizarre RNS in which the sole executive, Arthur Millholland, dismissed his critics, mainly Tom Winnifrith, as snake oil salesmen and expressed “renewed confidence” about the future. Pots and kettles spring to mind here when Millholland’s track record is taken into consideration.
I start with Deliveroo (ROO), whose IPO was at 390p - a year later, the shares are at 106p. What went wrong, I ask, and what now for the shares? Then to two placings: Vast Resources (VAST) announced its placing on Monday; I discussed the one Canadian (COPL) has been working on since last Thursday, last night. It seems to be struggling, but I expect it will be announced by the company tomorrow. Both placings stink, and decent regulators would be all over them. I explain why.
Last week, I wrote several articles about how Canadian Overseas Petroleum (COPL) misled investors and was facing a cash crisis. Snake oil salesman, CEO Arthur Millholland of Oilexco infamy, responded with a denial, claiming I did not know what I was talking about and was motivated by nefarious aims of self-enrichment. Well guess fucking what?
These are the most-read articles and most listened-to Bearcasts of the week. The most read non-Tom story is Sleaze on AIM: Oilex looks very leaky – just look at the share trades! by Gary Newman at Number 13 or Number 20 if you include Bearcasts.
I start with football and a question from last night’s West Ham game, concerning how society now views crime and criminals. Then onto the lessons from the collapse of Sensyne (SENS), the bastard child of Neil Woodford and sleazy Lord Drayson. Finally, I look at: Canadian Overseas Petroleum (COPL); Bidstack (BIDS); Angus Energy (ANGS); Sound Oil (SOU); the odd case of NFT Investments (NFT); and the Bixby/Edwards/ Frangos/Storey/Peter Wall gang.
Yes, for the second time this week, I have written to the regulators of the Standard List, that is to say, the FCA, asking for an investigation into Canadian Overseas Petroleum (COPL), the almost insolvent POS run by snake oil salesman Arthur Millholland of Oilexco infamy. The letter is below.
Fear not: no waffle; this is not bad. I start with Rishi Sunak, his Mrs, and tax non-payment. Then, I look at: Canadian Overseas Petroleum (COPL), caught telling another monster porky today; Vast Resources (VAST); Omega Diagnostics (ODX); Victoria Plumbing (VIP); Arden Partners (ARDN); Ince (INCE); and a new uber dog on the Standard List – Ajax Resources (AJAX), another overvalued example of crony capitalism.
Adding to the grotesquely deceptive and misleading RNS of April 1, and the failure to inform investors of numerous covenant breaches, I now expose another $8 million PORKY PIE from the Snake Oil salesmen at Canadian Overseas Petroleum (COPL). This should shock even the FCA into action.
This is both hilarious and libellous. What Canadian (COPL) has said about me is untrue and defamatory, as its limp-dick advisors at PR Yellow Jersey know full well. However, it is what Canadian fails (again) to say that is critical. It is still deceiving its investors massively, and, thus, the smart money will use the spike it has created to add to its shorts.
I start with thoughts on changes in the divorce laws, then discuss: Canadian Overseas Petroleum (COPL); Sosandar (SOS), Avacta (AVCT); and finally, in detail, Victorian Plumbing (VIC).
Following shocking exposes TODAY and YESTERDAY, clearly demonstrating that Standard Listed Canadian Overseas Petroleum (COPL) has deceived and misled investors, I have written to the FCA suggesting an immediate share suspension, pending a cleansing RNS statement and a full disciplinary enquiry. The letter is below.
Yesterday, I exposed how Standard-Listed Canadian Overseas Petroleum (COPL) misled and deceived investors, by hiding company-threatening matters from them in a final results RNS. But this is only the tip of the deception iceberg. Canadian has been deceiving its shareholders for months and months. So, this scandal gets far worse, as I explain below. Surely the FCA has to act….
I start with a personal reflection, as it is my late dad’s birthday. Then onto the wider scandal, highlighted by my expose of Canadian Overseas Petroleum (COPL). I discuss Avacta (AVCT), Supply@ME Capital (SYME), and how long one can defy gravity, before concluding with a detailed look at the numbers behind Moonpig (MOON), where, I suggest, shares will head much lower.
The purpose of an RNS is to inform investors, not to deceive and mislead them. But that is exactly what Canadian Overseas Petroleum (COPL) did last Friday, when it published results for calendar 2021. On the RNS, we were treated to an abridged version, which read positively. I can imagine why folks rushed to buy. But…
So here we are once again considering the merits of a bucket of highly avoidable oily sector investments I heaved into a bucket this time last year, uninfluenced by free pork pies or site visits. The 2021 Vomit list. After chucking up 9 out of 10 winners in its inaugural 2020 list, what has 2021 thrown up? Perhaps none given the rising oil price? Don’t be silly – “Lying” Steve Sanderson would never let me down!
With the 2020 Vomit list throwing up 9 out of 10 sick investments, it’s time to think about next year. The oil price is looking to be on the upwards trajectory, and hence any company really needs to be a standout monument to investment stupidity to be considered for entry to this year’s bucket list.
After a rolling year of oil price movements, I find myself once again sat next to the fire at Christmas time cogitating oil company performance and prospects. Having suggested I would rather hold a bucket of Vomit than some oil shares this time last year, it’s time to review just how much money I did not lose. Yep it’s time to project the 2020 Vomit list awards to the deserving winners.
It shows just how crazy the markets are currently when a small oil company can announce that it has just lost ownership of most of its asset that has the potential to produce oil, yet its share price rockets by more than 100%! I am of course talking about consistent AIM failure, Canadian Overseas Petroleum (COPL), and its OPL226 licence in Nigeria which has apparently been on the verge of reaching production for several years now, and was due to have an appraisal well drilled later this year, but that was before the emergence of Covid-19 and I’d be surprised if that goes ahead as planned. Even more so following the latest news...
I don’t need to spell out to any reader of my recent articles on the oil price and specific oil companies, that I’m finding it difficult to see any good investments in the small cap oily space currently. Having written my Vomit list of crap oil shares at Christmas, I thought Easter would be a good time to undertake an interim review.
I have commented over the last 6 months about my crap quartet of oilers – the “special ones” - a group of losers not winners in my view. To follow the tradition of other oily commentators I am going to expand and re-name my Crap Quartet, as the Vomit List. I would rather hold a bucket of puke than shares in these companies.
Canadian Overseas Petroleum (COPL) has the honour of being in my crap quartet of utterly worthless and pointless oil and gas companies. I commented in June on this piece of shit noting the company had declared a need for unrealistically substantial funding via equity placings over the following 12 months. It’s now out of cash, again. Why bother with a placing to keep the lights on?
At the lower end of the market if you want to get an idea of who was inside on placings then social media is often a good indicator, and in particular some of the accounts on Twitter which have significant numbers of followers and have been pushing the company hard just prior to an equity raise...
If there were any prizes for being the worst performing company at the lower end of the market, then Canadian Overseas Petroleum (COPL) would definitely be up there as one of the contenders.
I’ve been bearish on Canadian Overseas Petroleum (COPL) for some time now, and recent developments have done nothing to make me change my stance on the company, particularly with regard to its operations in Nigeria.
Canadian Overseas Petroleum (COPL) is a company which I have been pretty negative on in recent times, and certainly nothing has happened to change my view on it, certainly in the shorter term.
I had to smile this week as both Aberdeenman and Neil Woodford published blogs dealing with their investment elephants in the room namely Nuformix (NFX) and Prothena (NSDQ: PRTA) respectively. Worryingly, it was hard to tell the difference between arguably the finest stock-picker in the UK of the last twenty years and the Scottish market-abusing LSE, Twitter and blogger loon!
I was excited to see how Nuformix (NFX), the renamed company previously known as Levrett, would perform on debut yesterday as the LSE’s bulletin board in-house expert was predicting great things. Alas, it was all a bit of a damp squib but let’s hope at least that he managed to take a bit off the table during his ramp though.
Canadian Overseas Petroleum (COPL) is a company that I have followed for a while now and recently I have noticed it getting a fair bit of attention again – certainly as much as we’ve seen since the failed drill in Liberia back in late 2016.
Shares in Canadian Overseas Petroleum (COPL) have performed brilliantly since I tipped them as a buy, but I would now be looking to bank at least some of that profit in the near future.
Canadian Overseas Petroleum is a new name to me on the stock market. But this does not really matter too much as far as current conditions are concerned on the equities front, given that almost every company with the work “oil” or petroleum in its name seems to be very well bid indeed.