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First the value destroyer king Millholland then the CEO now Canadian Overseas’ CFO walks and ToscaFund is out too

By Tom Winnifrith | Monday 12 February 2024


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.


Ryan Gaffney has had enough and, following the chairman and CEO, has quit as the CFO of Canadian Overseas Petroleum Limited (COPL) with immediate effect. And why not? When a ship is sinking why wouldn’t you jump. The board says that it will be “ considering a process to identify qualified candidates to fill the position of Chief Financial Officer of the Company amidst ongoing restructuring discussions.“ Put another way it won’t be doing anything as they know this is a zero.
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