Canadian Overseas Petroleum – the sordid truth emerges as covenants breached
By Tom Winnifrith | Monday 2 October 2023
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.
When it was announced that death spiral provider Anavio was putting in $3.5 million at 4p to Canadian Overseas Petroleum (COPL) on 6th September we bears, admittedly steered by Canadian, jumped to the wrong conclusion. Today the sordid truth emerges and, by the way, the cash still has not arrived.
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