Canadian Overseas Petrol... Share Discussion Threads

[mrkeysersoze] 23/12/2016 15:08

Large delayed trades going through...Mr K.

[mrkeysersoze] 23/12/2016 14:30

Why did Arthur feel the need to highlight his visit to Zurich ?Mr K.

[mrkeysersoze] 23/12/2016 13:38

lith,

There was no chance of the West Saturn staying on block LB-13 to drill another well.

There is a hell of a lot of planning & logistics involved in drilling deep water offshore.

There are 3 phases as per the PSC phase one Seismic work, phase two one x exploration well, phase 3 one x exploration well.

COPL & EXXON will evaluate the logs from Mesurado-1 first, then re-evaluate the other prospects on LB-13.

They have 30 days to notify NOCAL of their intentions as per the PSC, they can seek an extension if needed & agreed by NOCAL.

Mr K.

[the patient investor] 23/12/2016 13:16

Alt is a true gem, u r right, no idea re vast, nuog run out of steam for now but huge potential.

All my cash here at fcng 1.84!

[guyswonga74] 23/12/2016 13:13

TPI. You should have left your money in alt till yesterday then moved it to VAST. Nuog I am not convinced about

[the patient investor] 23/12/2016 13:10

Litho

Your cronic pessimism is almost comical!!


Keep going! :-)

[lithological heterogeneities] 23/12/2016 13:01

Any idea how long west saturn will be there for?

[lithological heterogeneities] 23/12/2016 12:55

Mr k,Not the news I was hoping for with west saturn going to nigeria.This will go nowhere until we get it back and drill again. More bad news. Thats all we need.

[mrkeysersoze] 23/12/2016 12:39

Dean,


Oilexco was a victim of the financial crisis at the time, as were many other companies.

Was Viscount William Astor a director of Oilexco?

Mr K

[deanroberthunt] 23/12/2016 12:30

he also bigged it up at Oilexco....caveat emptor

[mrkeysersoze] 23/12/2016 12:18

OPL 226 v LB-13

Essar to date has spent $67m developing OPL226 of which they retain 20% interest.

$67m invested by Essar consisting of:

Signature bonus $37m

3D Seismic $20m

G&A costs $10m

$67m - 20%(Essar Interest) = $53.6m

Shoreline holds a 50% interest jointly with COPL the other 50%.

$53.6m - 50% (COPL Interest) = $26.8m

COPL Unrisked Recoverable Contingent Oil Resources

Low 4.68Mmbbls

Best 6.44Mmbbls

High 8.28Mmbbls

Netherland Sewell indicate a further 450Mmbbls potential of which COPL retain a net interest of 40% = 180 Mmbbls to COPL.

26minutes in for OPL226 overview.



Arthur Millholand then goes on to state that "Nigeria will rock your socks off"

A very bold statement indeed, but given the development stage of OPL226 something that can be taken with far more confidence, considering the proven 2c oil reserves added to further appraisal well as opposed to the new frontier wildcat drilling as per Mesurado 1.

Let’s assume Mesurado-1 well had hit oil in line with Exxon's Liza-1 discovery off the coast of Guayana 500Mmbbls

500Mmbbls - 17% COPL Interest = 85Mmbbls net to COPL.

COPL’s 40% interest in OPL226 with a gross further potential of 450Mmbbls equates to 180Mmbbls {excluding current contingent reserves}

Given the difference between LB-13 & OPL226 with respect to assigned risk & future potential, OPL226 comes out in front of LB-13 by a significant margin 180Mmbbls versus 85Mmbbls.

27m 25s

“the market sold us off they’re not paying too much attention to that “

Mr K.

[shawshankuk] 23/12/2016 11:52

Gulf sands/ genel what ever next!

Jeez man. Can you be santa next time?

[moormoney] 23/12/2016 11:36

Well I'm in for more I think Copl will soon make up my losses. Happy Christmas and good luck for 2017 drill.🍇865;🍹

[the patient investor] 23/12/2016 11:21

Lol
Why do i love nutters?

Gulf, lol, yes, tell us more, you sound really great fun!


I just love how he just came out of the blue

Post of the day

[mrkeysersoze] 23/12/2016 11:06

West Saturn heading to Erha Field Nigeria for Esso Exploration an EXXON subsidiary....

Not to far for a second visit to Liberia ?

Mr K.

[the patient investor] 23/12/2016 11:04

Im tempted to sell at a bad loss because i feel that making so ridiculously EASY MONEY here is not challenging enough for my trading skills


I bet many great traders here feel like crooks or amateurs


Yes we will be seriously rich by end of january 2017 but so what? No skills, no brain , just a easy 700% profit.


Boring....

[billthebank] 23/12/2016 11:01

Listened to the podcast again and this time didnt nod off!!! They are clearly at a loss to explain why this seismic data from 2010 has not produced the results they were anticipating and it is good to know that both COPL and Exxon are looking into the drill results to establish the reason. Is it possible that in 6 years they could have just missed the oil by a matter of feet and new seismic is required? Well we wont know this till end of January. Interesting that the co has put a block on employees trading the shares either buying or selling. With £5M cash in the bank and other options and Exxon still having approx $60M to utilise this reaction on the share price has been way overdone. So for all the reasons that our patient investor has detailed above this sounds like a great opportunity to increase ones holding over the next 4 weeks!!! Caveat Emptor

[the patient investor] 23/12/2016 10:45

The easy money we will ALL make here feels almost as cheating, actually, almost illegal!!!


We will all be bilionaires in jail!!