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Canadian Overseas Petroleum – It has got to be kidding right?

By Peter Brailey | Friday 21 June 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

My good friend Gary Newman has covered Canadian Overseas Petroleum (COPL) a number of times on this website, most recently on 29th May when he came to the view the placing RNS’ed at that time would only keep the lights on for a short while, a view I shared. Just a few days later, the company (which has a standard listing on the main market) suddenly seemed to realise it would need to issue a prospectus to complete the placing. Of course a prospectus has to pass review by the UK Listing Authority, which is part of the FCA. Now the FCA does not always get everything correct (cough cough!), but I have more faith in a UKLA review than any AIM Nomad review.

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