RE:Time to Watch CANADIAN OVERSEAS PETROLEUM LIMITED (V.XOP)Does anybody understand why they would have a 4 month hold on transfer to the Canadian exchange of this latest UK Financing? How does that help us in Canada?
The dilution is worse when you consider the warrants. So it is going to take some really good news to move our price here beyond speculation. However, what is encouraging is this part of that release:
Drilling of the first appraisal well is planned to commence in late 2017. ShoreCan is currently waiting for final approval from the Government of Nigeria for the acquisition.
No mention of the need to arrange financing, AND the drill target date is tightened back down to 2017 as they no longer estimate it could slip into early 2018. The last conditino is they are waiting for final approval of the acquisition.
I will remind everyone that at the 2017 AGM, Art represented to shareholders that the approval could not be unreasonably withheld, it would issue eventually, and it would not hold up their moving forward to a drill. The tightening of the drill target date in the release reinforces what Art told the shareholders at the AGM. DYOR, but also don't get mislead by trolls.