Canadian Overseas Petrol... Share Discussion Threads

[shafaq] 14/11/2016 16:38

The patient investor Language plz!!!We may have kids on here.

[shafaq] 14/11/2016 16:31

Chart breakout!!

[shafaq] 14/11/2016 16:25

Bets on for weekend spud?

[effiert] 14/11/2016 16:21

No worries and ignore the pond life above

[the patient investor] 14/11/2016 16:21

FABULOUS news, thanks effiert


20p easy

[mr hangman] 14/11/2016 16:10

Think that's the 8th time that Shore Capital note has been posted here

[effiert] 14/11/2016 15:55

Canadian Overseas Petroleum Limited's (LON:COPL CVE:XOP) assets are worth up to four times its current market value suggests broker Shore Capital.

On a risked basis, the broker estimates the assets are worth 16p compared to the current market price of 4p.

The flagship asset is Block LB-13 offshore Liberia, operated by ExxonMobil, where drilling of the Mesurado-1 exploration well is rapidly approaching.

“COPL guides towards drilling in late FY2016/early FY2017 and we believe that an early spud date is quite possible given the advanced stage of well planning. Importantly, COPL benefits from a lucrative $120mln gross carry, sufficient to see the company funded through at least two wells, we estimate,” Shore Capital said in its initiation note.

“The first drilling target is a relatively low-risk prospect mapped using advanced techniques; gross mean prospective resources exceeding 590mmbbl are estimated for Mesurado-1. Given COPL’s lack of any real cost exposure for the foreseeable future, the risks to the company lie firmly on the upside, in our opinion. We also highlight COPL’s strong technical capability, plans to build out its African portfolio and healthy financial position. We calculate Risked NAV of 16p/share,” the broker added.

The broker also said that in addition “we highlight plans to diversify the portfolio via the ShoreCan joint venture, which has already secured new acreage offshore Namibia and is actively pursuing further portfolio additions in Nigeria and Equatorial Guinea. We believe that such new ventures, in addition to de-risking the proposition, could be very accretive to our sum-of-the-parts valuation.”

COPL’s diversification strategy makes a great deal of strategic sense, Shore said, allowing the company to leverage its in-house technical expertise and expand its regional footprint (while avoiding the need for shareholder dilution).

[ccr1958] 14/11/2016 15:44

Ready for take off here and pxog !!!!

[effiert] 14/11/2016 15:41

Shore capital has put a PRE SPUD target price of 21p on COPL!!!

"Shore Capital estimates the risked net asset value for COPL to be 21p – more than double the current share price.

[the patient investor] 14/11/2016 15:24

20p easily by friday

[ccr1958] 14/11/2016 15:19

:))).... I don't think so hangdog !!

[mr hangman] 14/11/2016 14:49

PUMP N DUMP PUMP N DUMP

[ccr1958] 14/11/2016 14:44

Hang , do one !!!

[babbler] 14/11/2016 14:22

11 always strong resistance... Of it crosses that then great... See how it goes.

[donald trumpton] 14/11/2016 14:01

C'mon - get a grip. This stock has been rising strongly for months. Lots of obvious reasons if you can be bothered to dyor. No one's "pumping" it yet at all.

[tidy 2] 14/11/2016 13:59

Can't beat em join em. Exxon leading the way.

[mr hangman] 14/11/2016 13:53

The pump n dumpers are going to have a field day here

[babbler] 14/11/2016 13:48

Being ramped on twitter and every advfn board. No wonder it's up! :))