Canadian Overseas Petrol... Share Discussion Threads

[deanroberthunt] 20/12/2016 14:31

and that's without the force

[deanroberthunt] 20/12/2016 14:31

if it 10 bagged it would still be half it's RENAV....

[deanroberthunt] 20/12/2016 14:30

MMs have just read the RENAV, up we go....

[ccr1958] 20/12/2016 14:30

dean do you reckon this is undervalued ? ;)

[10p here we come] 20/12/2016 14:28

Anyone for 800%??

[deanroberthunt] 20/12/2016 14:27

8 bagger discount to NPV

[lithological heterogeneities] 20/12/2016 14:27

"Assuming dilution of working interest and value through farm-down, we estimate a RENAV of 15.3p/share or C$0.26/share. On an 'undiluted' basis, simply assuming NPV12.5 asset values, this rises to 19.6p/share or C$0.34/share."So COPL looks seriously undervalued according to the above.

[10p here we come] 20/12/2016 14:26

..in no time, really. If you are blessed with patience..

[deanroberthunt] 20/12/2016 14:26

NAV has gone up 7p, risked, in 5 minutes.....12p

[deanroberthunt] 20/12/2016 14:26

20p here we come...

[mrkeysersoze] 20/12/2016 14:24

Article dated today

Mr K.



Canadian Overseas Petroleum (COPL) US$3.7m of cash and no debt.
COPL was fully carried for the exploration well by ExxonMobil under a farm-in, which includes a gross carry of $120m. On 30 September 2016, COPL had US$3.7m of cash and no debt.
COPL retains its exposure to OPL226 in Nigeria through its joint venture, ShoreCan, where there are plans to drill an appraisal well in late 2017.  We note ShoreCan is waiting for the government of Nigeria’s approval for the acquisition.
ShoreCan acquires 80% of Essar Nigeria
COPL has added diversification to its asset base, with ShoreCan completing the acquisition of an 80% interest in Essar Nigeria in September 2016. The JV’s core asset is OPL 226; a licence containing the Noa West oil discovery, as well as prospective oil resource in the Noa Complex. The acquisition adds a relatively low geological risk, shallow water exploration/appraisal asset to the COPL portfolio. Importantly, COPL has greater control over the pace of activity in Nigeria than Liberia, LB-13, where the company retains a carried (ExxonMobil operator) exploration interest in the 400mmbbl Mesurado-1 prospect.
Forward programme and funding
We expect ShoreCan to drill a well on OPL 226 in 2017/18 targeting a crestal location within the Noa Complex. Potential exists for thicker sand pay than the 18.7m of oil discovered at Noa-1. Prospects have been de-risked by five offset wells, 3D seismic and the use of several advanced AVO techniques that COPL believes help differentiate oil-bearing sands from gas or water. We expect an exploration well on OPL 226 and ongoing SG&A to be funded through a combination of existing cash ($5.2m at end Q216), cash inflow from the exercise of outstanding options, equity and/or farm-down. Estimated gross well costs for OPL 226 are US$28m, $11.2m net to COPL.
Valuation: Increase in RENAV
Our RENAV assumes COPL farms down its equity interests in Liberia, LB-13 and Nigeria, OPL 226, in the event of exploration success (farminee requiring a 20% IRR). Assuming dilution of working interest and value through farm-down, we estimate a RENAV of 15.3p/share or C$0.26/share. On an ‘undiluted’ basis, simply assuming NPV12.5 asset values, this rises to 19.6p/share or C$0.34/share

[deanroberthunt] 20/12/2016 14:24

they're testing our strength with the stock of the weak.

[lithological heterogeneities] 20/12/2016 14:23

"US$3.7m of cash and no debt.""We expect an exploration well on OPL 226 and ongoing SG&A to be funded through a combination of existing cash ($5.2m at end Q216), cash inflow from the exercise of outstanding options, equity and/or farm-down. Estimated gross well costs for OPL 226 are US$28m, $11.2m net to COPL.""we estimate a RENAV of 15.3p/share or C$0.26/share. On an 'undiluted' basis, simply assuming NPV12.5 asset values, this rises to 19.6p/share or C$0.34/share."

[deanroberthunt] 20/12/2016 14:23

Buyers, bloody thousands of em....

[deanroberthunt] 20/12/2016 14:22

no surrender.....

[deanroberthunt] 20/12/2016 14:22

Redoubt is at 11p....

[deanroberthunt] 20/12/2016 14:21

yep, Canadians lined up on the buy side, like Zulu's at Rorke's Drift

[lithological heterogeneities] 20/12/2016 14:20

Hot off the press !20 Dec 2016Directors TalkHttp://www.directorstalk.com/canadian-overseas-petroleum-copl-us3-7m-cash-no-debt/Canadian Overseas Petroleum (COPL) US$3.7m of cash and no debt.COPL was fully carried for the exploration well by ExxonMobil under a farm-in, which includes a gross carry of $120m. On 30 September 2016, COPL had US$3.7m of cash and no debt.COPL retains its exposure to OPL226 in Nigeria through its joint venture, ShoreCan, where there are plans to drill an appraisal well in late 2017. We note ShoreCan is waiting for the government of Nigeria's approval for the acquisition.ShoreCan acquires 80% of Essar NigeriaCOPL has added diversification to its asset base, with ShoreCan completing the acquisition of an 80% interest in Essar Nigeria in September 2016. The JV's core asset is OPL 226; a licence containing the Noa West oil discovery, as well as prospective oil resource in the Noa Complex. The acquisition adds a relatively low geological risk, shallow water exploration/appraisal asset to the COPL portfolio. Importantly, COPL has greater control over the pace of activity in Nigeria than Liberia, LB-13, where the company retains a carried (ExxonMobil operator) exploration interest in the 400mmbbl Mesurado-1 prospect.Forward programme and fundingWe expect ShoreCan to drill a well on OPL 226 in 2017/18 targeting a crestal location within the Noa Complex. Potential exists for thicker sand pay than the 18.7m of oil discovered at Noa-1. Prospects have been de-risked by five offset wells, 3D seismic and the use of several advanced AVO techniques that COPL believes help differentiate oil-bearing sands from gas or water. We expect an exploration well on OPL 226 and ongoing SG&A to be funded through a combination of existing cash ($5.2m at end Q216), cash inflow from the exercise of outstanding options, equity and/or farm-down. Estimated gross well costs for OPL 226 are US$28m, $11.2m net to COPL.Valuation: Increase in RENAVOur RENAV assumes COPL farms down its equity interests in Liberia, LB-13 and Nigeria, OPL 226, in the event of exploration success (farminee requiring a 20% IRR). Assuming dilution of working interest and value through farm-down, we estimate a RENAV of 15.3p/share or C$0.26/share. On an 'undiluted' basis, simply assuming NPV12.5 asset values, this rises to 19.6p/share or C$0.34/share.

[deanroberthunt] 20/12/2016 14:20

bidding over mid, again.......negotiation is irrelevant

[10p here we come] 20/12/2016 14:20

About to open up massive on TSX.

[deanroberthunt] 20/12/2016 14:19

should be "11p here we come"...numpty! try and keep up ffs

[deanroberthunt] 20/12/2016 14:18

only the brave need apply.....the weak make way...for 4p

[10p here we come] 20/12/2016 14:18

Time to expand our horizons..