Canadian Overseas Petrol... Share Discussion Threads

[deanroberthunt] 28/12/2016 10:49

I think my previous broad statement might have been marginally incorrect, but the general theme still prevails...

[deanroberthunt] 28/12/2016 10:46

Block OPL 226
The OPL 226 licence surrounds the Anyala Field in separate licence OML 83. The Anyala field and the Madu field to the north in OML 85 were discovered by Texaco in 1993 but development was deferred during the 1990s due to cost concerns. Although Chevron, after its merger with Texaco, began a new development plan in 2004, the field was never developed and was subsequently sold to Nigerian independent, First E&P Limited in 2014.

[mrkeysersoze] 28/12/2016 10:45

My holding in COPL has nothing to do with you...

Capiche...

Mr K.

[whiskeyinthejar] 28/12/2016 10:45

Gimme - i haven't suggested oil industry is dead. Lol. Im saying the strategies of major oil companies have changed. They are targeting lower break evens. Offshore exploring is more expensive. To be economic offshore they need to be targeting lots of barrels. So Exxon drilled the most likely target geology and found nothing, so imo you need to hope they can find another big target they think worth drilling.

Dean, Chevron I think have moved their strategy to shale.

[ccr1958] 28/12/2016 10:39

Lol, question to difficult ? I'll take it your the latter ,lets face it this is a dog for the foreseeable future but you don't seem to accept that .

[ccr1958] 28/12/2016 10:30

Just as one investor to another, You either do or your a plant, which one are you Mr K ?

[mrkeysersoze] 28/12/2016 10:28

ccr,

What exactly is your interest in my holding?

Mr K

[ccr1958] 28/12/2016 10:22

Mr K , are you going to answer my question ?

[mrkeysersoze] 28/12/2016 10:13

Dean,

When did Chevron sell OPL226?

Mr K.

[deanroberthunt] 28/12/2016 10:03

my concern with OPL226 is why did Chevron sell the asset if it is such high quality.....I understand that the economics at the time, low Oil price, meant the numbers didn't add up....but they could have just kept the asset on the books until the Oil price recovered.....

[ccr1958] 28/12/2016 09:51

Mr K. are you holding a lot of these ?

[mrkeysersoze] 28/12/2016 09:49

Nicky,

What exactly do you want???

Mr K.

[nicky21] 28/12/2016 09:45

MR K

what i want to know is not just major shareholders in COPL but other compnies as well.

i want to know which website gives you the latest major shareholdings..

even it isa paid site please let me know anyone.

[gimmetheloot] 28/12/2016 09:43

Whiskey

Looks like you have poor judgement too. The oil business is not dead. Why did Exxon drill block 13? If it was not economic they wouldn't have drilled. 12 months ago the price of oil was $27, their commitment was the same back then as it is now.

This is the oil business you don't find every time but this is Exxon the worlds biggest oil hitters ;-))

[whiskeyinthejar] 28/12/2016 09:24

Gimme - I have very poor sense of humour. People are always commenting on it.

Shell spent billions in Artic before walking away. Majors are walking away from lots of expensive projects.

[marmiesz] 28/12/2016 09:21

Bounty, yes agreed there is some history there but all the lessons to be learnt have been addressed now. Exxon would not have partnered with COPL if they had any doubts.Marmie

[gimmetheloot] 28/12/2016 09:17

Whiskey

Your having a laugh!! 230 million spent and nothing to show for it. Top dog want the oil by hook or by crook. It's there for sure & they will find it!!

[whiskeyinthejar] 28/12/2016 09:12

There's no guarantee that Exxon will drill again. Offshore exploration these days means you only drill when there's a good chance of a shed load of oil. Otherwise its not worth it. Exxon may feel they have drilled the main chance and that's it folks.

[money4me] 28/12/2016 09:09

yes. but what is the value of sand

[lithological heterogeneities] 28/12/2016 09:05

So mkt cap of £11m at 1.65p with £60m free carry by Exxon,worlds largest private oil company,to drill a 2nd well, OPL226 thrown in for free and a RENAV of 15.3p to 19.6p post drill.

[lithological heterogeneities] 28/12/2016 09:01

Report AFTER the drill result:Http://www.directorstalk.com/canadian-overseas-petroleum-copl-us3-7m-cash-no-debt/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.

[bountyhunter] 28/12/2016 08:50

ssuk - I don't dislike anyone and would be investing here myself if the track record was good - I had this on my watch list until I realised the connection - for those who choose to invest despite this track record then good luck as may be a short term gambling opportunity but never take your eye of the ball

for those who like to be fully informed...