Canadian Overseas Petrol... Share Discussion Threads

[nicky21] 17/6/2019 15:22

you sure you bought in.cannot see your trade.


What your gonna be in for is that if it comes off you will make a lot lot of money.

We are currently awaiting Performance Bond news..The paperwork is which is holding it back..

Once that is sorted then plenty of newsflow expected.

[asm5] 17/6/2019 15:06

I just bought these impulsively. No idea what I’m in for. Made a bit of money on GBG so just reinvested into these. Holding around 1.8m shares.

[asm5] 17/6/2019 15:05

I just bought these impulsively. No idea what I’m in for. Made a bit of money on GBG so just reinvested into these. Holding around 1.8m shares.

[edgein] 17/6/2019 14:55

Nicky,

Good man, I thought you were about to get as erratic on this thread as you were on the LSE bb. Absolutely, if Art can pull this off it will go down in legend.

Regards,
Ed.

[nicky21] 17/6/2019 14:21

Edgein

Packed in trading these.My breakeven price is 0.155p.
Am happy to hold as i done my research.
If everything comes through these could be the biggest riser on the London Stock Exchange from these levels this year.

[edgein] 17/6/2019 13:55

Jamie,

Harry/Nicky is very sensitive to trading. :) Chilling out would be the best idea for those happy to hold with the risk.

Regards,
Ed.

[edgein] 17/6/2019 13:53

Kcowe,

Its around US$400k per month ($1.191m in Q1) so he raised enough to last until late July. Hopefully we'll see the performance bond/alt financing and service financing in the mean time. Then any further raise should be at a higher price than this.

Regards,
Ed.

[jamie414] 17/6/2019 13:53

Not exactly a mass exodus is it £26k worth in total.

[kcowe] 17/6/2019 13:42

Art is probably lining up the next funding issue ...must be coming close to empty again . at £110k week spend to keep the lights on .

[nicky21] 17/6/2019 13:19

Plenty of sells today.
Just hang in there,do not be fooled by the sells and MMs games

[nicky21] 17/6/2019 12:28

Have had an email from someone who has been in contact with Arthur and he says they are working hard.

News expected soon just hang in there.
Let those who want to sell SELL.
This should multi bag this year.

[nicky21] 17/6/2019 10:59

Yes Edegin they were talking to 3.

[dave19w] 17/6/2019 10:49

I think he said they had been approached by 2 more. Whether or not they also entered major discussions I can’t recall

[edgein] 17/6/2019 08:49

Nicky/harry,

Interesting article about Anyala and the priorities of the DPR/NNPC to boosting oil and gas production and reserves near term. Shows the scale of Noa as its the adjoining structure to the updip significant Anyala development. Since SLB are funding $700m into the adjacent development it would make sense if they turned out to be the service finance provider in talks with COPL. Didn't Art say they were talking to three service providers?

Regards,
Ed.

[nicky21] 15/6/2019 14:20

Done a lot of research this morning and now i know what i have bought into and the massive potential.

[nicky21] 15/6/2019 14:10

Oyoma-1 (1972) – 36.2 m net oil and gas
pay; Dubagbene-1 (1972) – 8.2 m net oil
pay, located on the northwest plunging
limb of the Anyala Anticline

[nicky21] 15/6/2019 14:08

ours is going to be appraisal drilling....
worth a read from May 2019 Presentation.

OPL 226 is adjacent to (and surrounds)
the Anyala Field in OML 83
• Noa-1 discovery drilled in 2001 on OPL
226 with several gas zone pays and a
lower oil zone with nearly 20 metres of
blocky oil sand pay, on the southeast limb
of the Anyala Anticline

[nicky21] 15/6/2019 13:45

something like this will send us into orbit...


The plan by the Nigerian National Petroleum Corporation (NNPC) to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja.

The agreement was between the NNPC/FIRST Exploration and Production Joint Venture and Schlumberger for the development of the Anyalu and Madu fields in the Niger Delta under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria.

Under the agreement, Schlumberger would provide the over $700 million development cost of the Anyala and Madu fields which would generate 193 million barrels of crude oil into the current reserves of 37.2 billion barrels and an additional 800 billion cubic feet of gas into the nation’s proven gas reserves which currently stand at 197 Trillion Cubic feet of gas.

In terms of daily production, the fields will yield 50, 000 barrels of crude oil per day and 120 million standard cubic feet of gas per day by early 2019.

Speaking at the signing ceremony, Maikanti Baru, group managing director of the NNPC, said the innovative approach to funding JV operations in response to the challenging economic environment was novel and aligned wholly with the government’s aspiration to increase crude oil and gas production, reserves growth and monetization of the nation’s enormous gas resources.

He added that apart from serving as a test case for future funding mechanism, the approach adopted was in sync with the realization of the corporation’s 12 Business Focus Areas (BUFA) which is to ramp up crude oil production and reserves growth, amongst others.

He said the projected increase in production of gas would come in handy as the corporation strived to sustain the supply of gas to the existing power plants as well as the planned power projects billed to come on board within the period.

Ademola Adeyemi-Bero, managing director and CEO, FIRST E&P, who signed on behalf of FIRST E&P, remarked that the partnership between the NNPC/FIRST E&P JV and Schlumberger would infuse a novel asset development model which combines FIRST E&P’s local knowledge and market position as an indigenous operating company, with Schlumberger’s financing and broad technical capabilities.

He added that the joint project team would strengthen FIRST E&P’s project delivery abilities and the model would offer the Upstream subsector a credible alternative funding and technical partnership model for growing production and adding reserves.

On his part, Patrick Schorn, Vice President, Schlumberger, who signed on behalf of Schlumberger traced the advent of the multi-national oil fields service company in Nigeria to the first commercial oil find in Oloibiri when Schlumberger played a role in Shell’s drilling effort.

He noted that the partnership with NNPC and FIRST E&P would provide Schlumberger the opportunity to leverage on its reservoir knowledge, oilfield services and project management expertise to lower development costs and maximize value for the partners.

The OMLs 83 and 85 are in shallow waters 40 km offshore in the Niger Delta, NNPC holds 60% interest in the licences while, FIRST E&P, the operator of the JV, holds the remaining 40% interest. Apart from providing funding for the development of the fields, Schlumberger would also provide other Oilfield Services to the JV on a limited exclusive basis.

A joint project team would be established to drive technology transfer whilst leveraging on the global technical expertise of Schlumberger and the extensive local knowledge of the JV partners.

[nicky21] 15/6/2019 13:38

Opl 226 is close to the Anyla (OML 83) and Madu (OML 85) fields.

[nicky21] 15/6/2019 13:31

The problem with this stock has been misleading timescales but its not their fault its just that doing business in Africa is not easy.

[nicky21] 15/6/2019 13:26

If paerwork finalised and Performance Bond news comes in we could move into the 0.20s.
Do not forget this only has a market cap of only £3m.

Here is some old news worth a read.The potential is huge here.




COPL
COPL Update – 20th November 2017

It would seem the CEO of COPL has not handled expectations very well. He has been promising finance news since the end of Q2, yet we still wait. This form of over promising diminishes the reputation of a CEO, and further it has emerged that finance is dependent on final approval from The Nigerian National Petroleum Company (NNPC), common sense maybe, but should have been made clear.

That said, we are where we are, NNPC approval is a formality (“it will not be unreasonably withheld”), and sources tell me finance is approved but will need that final NNPC approval then all will be announced in short order.

Therefore it seems pretty much game on, and like so many other companies, the ‘exaggerations’ of the CEO will be a distant memory as the company moves into drilling and production.

News can come any day, and I for one am now expecting it to be the case over the next couple of weeks.

Yesterday NNPC and Chevron announced a $1.7B deal targeting 39,000 BOEPD, COPL are targeting 60,000, which gives an indication of the prize.

COPL WILL multibag on news, and apart from the ‘misleading217; timescales, I think they are getting most things right.

Don’t forget they will be drilling known discoveries, this is not wildcat/exploration, also the CEO has invested himself, including on recent placings.

Still very much a buy from me.

[smcl] 15/6/2019 13:12

Nicky21- what increase you expecting on good news?

[nicky21] 15/6/2019 12:28

looks like it.