Canadian Overseas Petrol... Share Discussion Threads

[shawshankuk] 29/12/2016 08:23

Hows the weather in U.K.?

[deanroberthunt] 29/12/2016 07:55

Starry starry night, paint your palette blue and grey, look out on a summers day, with eyes that know the darkness in my soul.

[tracy_moore] 28/12/2016 22:41

Issac being silly again? Get your homework done boy.

[shawshankuk] 28/12/2016 17:13

Think I would be right in saying that those two largish reported sells were in deed buys. Sell price at that time was 1.57

But for a balanced view, mystic meg will turn up shortly with crystal ball and disappoint you all.

Yes I'm sorrry to say, santa is dead.

[ffaffaa] 28/12/2016 15:08

hi guys

i am mr pi under my italina holiday name!


ocl looks impressive, thnx

what you think of hur?

[guyswonga74] 28/12/2016 14:38

Mr Pi. Hope your flu has gone. VAST holding its own NUOG still falling. OCL rising nicely and they are paying a dividend. Too much hype on BZM. Copl will look undervalued to many at the moment. Clearly someone is offloading but holding its range

[ryeguy] 28/12/2016 13:53

Chevron didn't sell OPL226. The relinquished when oil was $10/barrel.

[blueblood] 28/12/2016 12:32

So assuming that half was spent on 1st well are we entitled to cash compensation of 17% of the remaining funding if Exxon decide to pull out? Can anyone confirm this is the correct position i.e. 2nd well on LB13 or $10.2m compensation payment?

[deanroberthunt] 28/12/2016 12:10

The Lung

2 out of 2 ain't bad...wrong that is...

[mrkeysersoze] 28/12/2016 12:08

The Lung,

Argghhhhh.....

The well that actually cost $60m & the West Saturn that is now drilling in The ERHA field off the coast of Nigeria....

Got ya :-)

Mr K.

[thelung] 28/12/2016 12:05

MrK, Dean is one of the great unwashed.

Gimme, "the well cost $12m..... and the West Saturn is still at Block 13"

[moormoney] 28/12/2016 12:01

Nice! I don't mind it either😃 Nicky21 try using the phone and ring the cos concerned....only way to be sure.

[deanroberthunt] 28/12/2016 11:31

yeah, I know they're separate blocks...

[nicky21] 28/12/2016 11:24

MR K

bascially i want to know if anyone knows a website which shows the latest major shareholdings in listed companies on the london stock market.


am checking a certain company out and when i visit certain sites like morning star or halifax research they give different major shareholders.so i do not know which is correct.

i went to know a good fiancial website which will have the very latest major shareholders of a company.

i hope you now understand my question.

[mrkeysersoze] 28/12/2016 11:22

deanroberthunt
28 Dec '16 - 10:46 - 2249 of 2256    1   1
Block OPL 226
The OPL 226 licence surrounds the Anyala Field in separate licence OML 83. The Anyala field and the Madu field to the north in OML 85 were discovered by Texaco in 1993 but development was deferred during the 1990s due to cost concerns. Although Chevron, after its merger with Texaco, began a new development plan in 2004, the field was never developed and was subsequently sold to Nigerian independent, First E&P Limited in 2014.
-------------------------------------------------------------------------------------
Dean,

I think you may have OML83 & OPL226 confused.




Nigeria Deal OPL 226 is located in the Niger Delta province, offshore Nigeria, and has an area of 1530 km2 and is located in water depths ranging from 40 to 180 m. This block is situated along the southwestern edge of a large growth fault-controlled structural complex (Anyala and Noa Complex) that can be mapped with available 3D seismic data.

A Nigerian oil company was awarded OPL 226 in the 2007 bidding round with a signature bonus payment of $37 million. Currently, this oil company has acquired a 3D seismic survey in excess of its commitments under Phase 1 of the PSC; however, the company has yet to drill a well under Phase 2 of the PSC. ShoreCan has agreed to purchase 80 percent of the issued share capital of the Nigerian oil company that is the 100 percent license holder of OPL 226 in Nigeria. A nominal amount will be held in escrow until completion of certain conditions.

COPL expects resolution of these conditions very shortly and the deal will proceed to closing. Following final closing of the deal, COPL will effectively own a 40 percent working interest in the OPL 226 license through ShoreCan.

Historically, only five wells have been drilled on OPL 226 by previous operators including: Noa-1 drilled by Solgas in 2001 that is an oil and gas discovery; Oyoma-1 (1972) – 27 m net gas pay; Dubagbene-1 (1972) – 8 m gas pay; Nduri-1 (1973) – 9 m net gas pay; HJ South-1 (1973) – 8.5 m gas pay.

The Noa-1 discovery well, drilled in 2001, encountered fine to medium-grained sandstones of the Agbada Formation in the footwall block that is trapped by a counter-regional (antithetic) fault. The Noa-1 discovery well had a thick 6100’ zone that has 7.0 m of gas net pay with an average porosity of 21.3 percent and an average water saturation of 27.2 percent and 18.7 m of oil net pay with an average porosity of 30.8 percent and average water saturation of 18.5 percent. Three additional gasbearing sands (3600’, 4900’, 5500’ sands) were also encountered (uphole) in the Noa-1 well. There is significant follow up potential to this discovery well in a seismically-mapped "footwall trap" in the Noa West and Noa East prospect areas that were defined by the Netherland Sewell Report.

OPL 226 is situated adjacent to Oil Mining License 83 in which the undeveloped Anyala oil and gas field is located. The Solgas 3D seismic that was acquired in 2000 illustrates that development locations exist (within OPL 226) along the southeast plunge of the closed Anyala anticlinal complex. The Anyala field is proven by a total of nine wells (capable of production) drilled there. First Exploration and Petroleum Development Company Limited acquired 40 percent participating interests in Oil Mining Licence 83 from Chevron Nigeria Limited and is the operator. The new operator plans for first oil production at Anyala to commence in the third quarter of 2016 (EnergyTimesonline, “First E&P expects Anyala Field oil delivery Q3 2016,” by Kayode Ekundayo, July 12, 2015).

Netherland Sewell Report In late 2015,

COPL (on behalf of ShoreCan) commissioned NSAI to produce an updated Resource Report to the 2010 report that was originally completed for a Nigerian oil company in relation to OPL 226, and then re-purposed for COPL in June 2015. This new report incorporated the results of the 2012 3D seismic program and modeling completed by the Nigerian oil company, and is structured to comply with the requirements of NI 51-101on the reporting of contingent and prospective resources. The disclosure of this report and the calculated volumes will be made in due course following the close of the OPL 226 deal.



The above text taken from the link below page 13.





Mr K.

[ccr1958] 28/12/2016 11:18

dean ,I think you are right to short this atm !!

[deanroberthunt] 28/12/2016 11:15

and anyone who has dealt in equities et al for long enough should know the old adage....."past performance is not always an indicator of future performance"

[deanroberthunt] 28/12/2016 11:06

this is not even a speculative buy, it's just a punt on Arthur, and his jet, leased from Lewis :)

[deanroberthunt] 28/12/2016 11:05

....and 3D seismic maps illustrate numerous anomalies and prospects.

so did LB-13, but that was drier than an Arabs sock!

[ccr1958] 28/12/2016 11:02

LOL, MR Kramp !!

[deanroberthunt] 28/12/2016 10:56

I don't think the Nigerian prospect is as done and dusted as some proclaim:

The Noa-1 gas discovery
OPL 226 also contains the Noa-1 undeveloped discovery which was drilled in 2001 by Nexen and is located only 5 km south of the Anyala field. Although Noa-1 has been plugged and abandoned, it exhibited several gas pay zones and a lower oil zone with nearly 20 metres of blocky oil sand pay. It is evident that the wider area is highly prospective and 3D seismic maps illustrate numerous anomalies and prospects.