Canadian Overseas Petrol... Share Discussion Threads

[lithological heterogeneities] 21/12/2016 09:55

Gimmetheloot,Excellent infirmation. Many thanks. Very good news.

[ccr1958] 21/12/2016 09:54

Thanks for posting that gimme !

[mrkeysersoze] 21/12/2016 09:53

Gimmie,

Many thanks.

Mr K.

[gimmetheloot] 21/12/2016 09:52

If you want to raise below 5 cents it's basically impossible & need special permission from the exchange. It's long winded and there's. o guarantees!!

[lithological heterogeneities] 21/12/2016 09:52

Very importantly they suggest that the value is substantially higher than the current sp:"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."

[gimmetheloot] 21/12/2016 09:51

TSX-V provides guidance regarding waivers of minimum pricing requirement @ Canadian securities

POSTED ON APRIL 8, 2014
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The TSX-V issued guidance yesterday regarding the specific circumstances in which the exchange will consider waiving the $0.05 minimum pricing requirement generally applicable to financings. According to the TSX-V, while the exchange is not generally amenable to waiving the requirement, it will consider waiver requests on a case-by-case basis, treating certain circumstances more favourably, such as rights offerings and pending share consolidations.
TAGS: Mergers & Acquisitions, TSX

[mrkeysersoze] 21/12/2016 09:46

Gimmie,

Thanks.

Any chance you could save me some time & point me in the right direction ?

regards,

Mr K.

[gimmetheloot] 21/12/2016 09:43

Mr KeySeroze

Check the exchange rules and you will see. I spoke to a friend who has a company listed in Canada who was also invested in COPL.

[billthebank] 21/12/2016 09:41

I wonder if Rosseau are still buying in here? They were definitely right behind Liberia and to be honest when you think that Exxon were prepared to invest £250M there are a lot of disappointed people around I guess but COPL is not a one trip pony so lets see what happens. Topped up today as did many others lets see what happens

[billthebank] 21/12/2016 09:41

I wonder if Rosseau are still buying in here? They were definitely right behind Liberia and to be honest when you think that Exxon were prepared to invest £250M there are a lot of disappointed people around I guess but COPL is not a one trip pony so lets see what happens. Topped up today as did many others lets see what happens

[mrkeysersoze] 21/12/2016 09:40

gimmetheloot
21 Dec '16 - 09:37 - 1820 of 1820    0   0
Placing has to be done @5 cents minimum in Canada ;-))

-------------------------------------------------------
Gimmietheloot,

Are you simply speculating or other?

5c CAD is 3p gbp

Mr K.

[lithological heterogeneities] 21/12/2016 09:39

A reminder from yesterday for new investors who missed it:20 Dec 2016https://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.

[gimmetheloot] 21/12/2016 09:37

Placing has to be done @5 cents minimum in Canada ;-))

[saxxxon] 21/12/2016 09:28

Cheers thanks

[lithological heterogeneities] 21/12/2016 09:24

Vox podcast is tomorrow apparently.From LSE BB this morning:Today 08:33WelshmenTraderInterview Release ThursdayJust a reminder that the interview is being recorded late today and will be published tomorrow, probably in the afternoon.

[saxxxon] 21/12/2016 09:22

What time is this podcast?

[deanroberthunt] 21/12/2016 09:20

should see a nice uplift post podcast later

[deanroberthunt] 21/12/2016 09:09

you are not right and you know less than nothing...

hope this helps

[the patient investor] 21/12/2016 09:03

Am i right that NOTHINg will happen here till late 2017?

FROM RECENT RNS


Or am i missing something?
tx

[deanroberthunt] 21/12/2016 08:56

tick up coming, higher lows and higher highs intraday

[mrkeysersoze] 21/12/2016 08:56

Tidy,



Mr K.

[deanroberthunt] 21/12/2016 08:55

bid at mid :)

[deanroberthunt] 21/12/2016 08:53

you all know silver and oil are the big plays for the next 2 years.....yup