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Share Name Share Symbol Market Type Share ISIN Share Description
Canadian Overseas Petroleum Limited LSE:COPL London Ordinary Share CA13643D1078 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.0025 -0.71% 0.3475 0.34 0.355 0.355 0.335 0.35 250,727,607 15:22:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -4.9 0.0 - 34

Canadian Overseas Petrol... Share Discussion Threads

Showing 17151 to 17175 of 17175 messages
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DateSubjectAuthorDiscuss
27/2/2021
18:59
Canadian Overseas Petroleum LimitedTHE ATOMIC DEALTwo operated oil fields: the Barron Flats Shannon Unit (57.7% WI) and Cole Creek Unit (66.7% WI) located in the Powder River Basin in the State of Wyoming, USA:· Current production rate of 1,400 bbls/d (gross) rising to 5,000 bbls/d (gross) in 2022 and c.7,000 bbls/d (gross) in 2026 (2P reserve case, Ryder Scott Report).ROAD MAP TO OWNERSHIP OF ATOMIC• Deposit (non-refundable): $1 million - COMPLETE• Initial Debt-Financed Payment: $8 million for 15% of Atomic's Working Interest in all of its leasehold on or before December 31, 2020. - COMPLETE· (Note: If the acquisition does not complete, the Company will retain this interest)• Assumed Debt: $26 million at closing – FINANCE APPROVED PENDING COMPLETION OF AUDIT• Total Additional Debt and Cash: $15 million at closing – FINANCE APPROVED PENDING COMPLETION OF AUDIT• COPL Common Shares to Atomic Shareholder(s): $4 million priced at closing – TO BE ISSUED AT CLOSE OF DEAL.The final possible completion date is 15/3From the latest RNS Thursday 18/2 "we are working with the Lender to complete loan documentation in the coming week." – Ryan Gaffney, CFO.VALUE TO COPLTotal Cost $54mEstimated share price on completion of purchase of Atomic : 1-2pDEVELOPMENT OF THE ASSET- Roll out tripling of the gas injection programme at Barron flats- Drilling cole creek plans- Production ramp up - monthly updates expected all positive incline so no surprises but each one adds to the market cap and net worthWHAT ABOUT THE OTHER OWNERS OF THE OIL FIELDS?There are good reasons to believe that a 100% purchase the asset is possible.- NOP (in financial distress) buyout would take us to 85%- Chinese own 15% (being forced to sell by US Govt)There is a $20m accordion facility built into the finance agreement which may be earmarked for this very purpose.DOES COPL HAVE ANY OTHER POSSIBLE REVENUE STREAMS?The Atomic deal came as a huge and very welcome surprise to the shareholders. The main reason that we had been holding was for the expectation that COPL's interest in OLP226, a large offshore asset in Nigeria, being developed.1 - PSR is assumed - no evidence to state it will not be agreed. It has been delayed several times however most shareholders would agree that it is likely to still occur.2 - Oil is found already, next to a producing prolific field - drill planned is appraisal not exploration3 - Essar want a rapid ROI to date on $70m exploration spend - can spend a lot, drilling costs very low and would want to capitalise on that asap - COPL are carried4 - Nigeria have much to gain from their oil assets getting to production.With 60k bopd assumed productionCOPL share at 15% (5% with option to increase)Oil at $40/btax 70%lifting costs $20/bThis equals $19.4m net profit p.amc $331mNote: Oil is currently approx. $60 per barrel
asm5
26/2/2021
17:22
..apart from the 92.5million share buyer Bill???
saint in exile
26/2/2021
14:48
Bill, .352 / .353 trades are buys
sportbilly1976
26/2/2021
14:39
Unfortunately no buyers!!!!!?
billthebank
26/2/2021
13:51
Blue!!!!!Small acorns!!!
billthebank
26/2/2021
13:29
MM's with a bit of stock at this level .353/354 to buy currently
sportbilly1976
26/2/2021
13:03
Nice reversal should move lot higher to close valuation gap with asset NPV in March. Completion on 15th?
blueblood
26/2/2021
10:51
Added some more this morning - back onto the support point with the rising trend and in anticipation of imminent Atomic confirmation
sportbilly1976
25/2/2021
12:10
Sport, I thank you too. Great read. ATB, GD
greatfull dead
25/2/2021
08:56
Sport, Cheers for posting that presentation, that makes for some reading, awesome! So if these had been treated like a normal RTO they would have relisted at an equivalent of 1.5p on completion on March 15th. Not long to go now. £146m suggested value looks very realistic on a NAV of circa $250m, with that underlying value obviously increasing as they get to 4500bopd and up to 7000bopd. Net backs inclusive of nat gas and propane costs at $44/bbl at 1400bopd is super! That will likely approach or even pass $50 on 7000bopd as most of the costs are fixed. So hopefully oil will average $60-65/bbl for the year. I don't see why not when the air travel and global economy set to get going again mid year. Other significant points in there too is the level of liquids associated with the 31mmbbls. Appox 28mmbbls of light oil, around 1.5mmnnls of natural gas liquids and only 0.6mmboe of gas. So these fields are almost exclusively light oil, no wonder they can get such a strong light sweet crude production profile from that. What is at least as important is the upside from consolidation of the asset the added bonus of the deeper formations. According to Art the deeper formations that haven't been developed offer significant further upside. Earlier articles suggested the stacked nature of the sandstone formation in these fields and the upside that offers. All in all a cracking presentation, the best I've seen since reading the one on 226. Answers a lot of questions about the make up of the reserves and further upside. Onward and upwards. Regards, Ed.
edgein
25/2/2021
08:31
Surprised we arent well into 0.4s already as Canada was up 33% yest to 0.57p
billthebank
25/2/2021
08:17
Still nice start to the day
billthebank
24/2/2021
16:07
Exactly.Maybe tomorrow morning. cant understand why this is not testing at least 0.5!!! I am guessing it is AMs predelection for placings even when it isnt needed
billthebank
24/2/2021
15:58
Thats this week we should have confirmation then
saint in exile
24/2/2021
15:47
On the 18th Feb we said this:- The quality of the assets we are acquiring has allowed the Company to attract the debt necessary to complete and we are working with the Lender to complete loan documentation in the coming week."
billthebank
24/2/2021
15:33
Link to the presentation: hTTp://www.canoverseas.com/wp-content/uploads/2021/02/COPL-Atomic-Corporate-Acquisition-Presentation-02-21.pdf Completion 15th March
sportbilly1976
24/2/2021
15:09
On the website presentation Assumed MCAP post completion £146m :-D
jamie414
24/2/2021
14:55
Incredibly cheap sub £30M for an oil producer and with HSBC just buying 9.6B shares!!
billthebank
24/2/2021
14:05
About time we moved up really cheap with PoO increases
blueblood
24/2/2021
14:02
MMs running short a bit? 0.37p paid for just 2mln
sportbilly1976
24/2/2021
11:51
Completion RNS next week imo
blueblood
24/2/2021
11:48
No, the lender is a large American institution/bank. HSBC probably bought that 5% because the market cap doesn't reflect the value of the developed assets being acquired. Also will help that COPL is main listed and not AIM. Regards, Ed.
edgein
24/2/2021
10:53
https://twitter.com/Dobbo761/status/1364525820480544769 close above 0.3p - yep technical target now 0.7p, news notwithstanding
sportbilly1976
24/2/2021
09:16
Could HSBC be our lender? Or at least one of them?
nasarsaddique
24/2/2021
08:17
Nice reaction first thing. Now this, due (based on comments) by cob tomorrow: Arthur Millholland, President and CEO, commented : "This loan will facilitate the completion of the Atomic acquisition which will be materially value enhancing to COPL, providing an immediate and growing revenue stream from day one. Crude oil prices have increased by 50% since we entered into the transaction thus enhancing the overall value of the proposition. Working with our new colleagues we plan to accelerate the production profile from the Atomic assets. This represents a step change in the strategic growth opportunities open to COPL and we look to the future with renewed confidence." Ryan Gaffney, CFO, added: "Approval of the Credit Facility by the Lender's investment committee is a key milestone to completing the Atomic acquisition. The quality of the assets we are acquiring has allowed the Company to attract the debt necessary to complete and we are working with the Lender to complete loan documentation in the coming week."
sportbilly1976
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