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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 Shares Traded Last Trade
  -0.0175 -4.86% 0.3425 122,901,517 16:05:12
Bid Price Offer Price High Price Low Price Open Price
0.34 0.345 0.36 0.3425 0.36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -4.92 33
Last Trade Time Trade Type Trade Size Trade Price Currency
16:40:34 O 10,000,000 0.37 GBX

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Date Time Title Posts
05/3/202120:17*****Canadian Overseas Petroleum*****4,447
05/3/202115:30◄ CANADIAN OVERSEAS PETROLEUM ►4,196
05/3/202111:09Completion on target 1
21/7/202006:30BUY 8,546
20/7/202022:54SELL COPL113

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Canadian Overseas Petrol... (COPL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-03-05 18:40:340.3710,000,00037,000.00O
2021-03-05 16:32:560.3517,500,00060,375.00O
2021-03-05 16:29:080.35289,117997.45O
2021-03-05 16:29:050.3569,100238.40O
2021-03-05 16:28:510.34156,902541.00O
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Canadian Overseas Petrol... (COPL) Top Chat Posts

DateSubject
05/3/2021
08:20
Canadian Overseas Petrol... Daily Update: Canadian Overseas Petroleum Limited is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker COPL. The last closing price for Canadian Overseas Petrol... was 0.36p.
Canadian Overseas Petroleum Limited has a 4 week average price of 0.25p and a 12 week average price of 0.18p.
The 1 year high share price is 0.59p while the 1 year low share price is currently 0.03p.
There are currently 9,657,246,472 shares in issue and the average daily traded volume is 277,767,752 shares. The market capitalisation of Canadian Overseas Petroleum Limited is £33,076,069.17.
05/3/2021
07:32
hazl: I think oil is going to increase in price for next few months according to futures forecasts. So I got back in today in to COPL on the dip. IMO
04/3/2021
08:53
sportbilly1976: 6 more trading days until Atomic completion...summary posted on LSE board THE ATOMIC DEAL Over 5% being held by HSBC COMPLETION DATE 15/3 AS STATED IN THIS INVESTOR PRESENTATION: hxxp://www.canoverseas.com/wp-content/uploads/2021/02/COPL-Atomic-Corporate-Acquisition-Presentation-02-21.pdf Two 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. VALUE TO COPL Total Cost $54m Estimated share price on completion of purchase of Atomic : 1-2p DEVELOPMENT 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 worth WHAT 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 exploration 3 - 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 carried 4 - Nigeria have much to gain from their oil assets getting to production. With 60k bopd assumed production COPL share at 15% (5% with option to increase) Oil at $40/b tax 70% lifting costs $20/b This equals $19.4m net profit p.a mc $331m Note: Oil is currently approx. $60 per barrel.
27/2/2021
18:59
asm5: 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
24/2/2021
08:17
sportbilly1976: 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."
10/2/2021
13:56
edgein: asm, Definitely the Atomic Oil and Gas deal with 31mmboe of 2P is likely to see the share price go nuclear here! :) The first transformational deal for COPL, we're closing in on the mid month target now too. Material 2P reserves and rapidly growing production, well worth the wait as you suggest. Regards, Ed.
06/1/2021
07:32
edgein: IAWT, No not really, did you realise that 5m shares at 0.05p is only £2.5k, 10m just £5k? I've an 8 figure holding and yes it did cost many thousands, but its still not my biggest holding by value. But don't worry I'm a former EUA holder from a 0.37p average, I can easily afford it. :) I'm among a few here that's had faith that Art will bring home the bacon, even when the share price was 0.035p there was no NT to buy back then with the amount of capitulators there were about. Whether you believe me or not its of little consequence, I'm more interested in what happens with the USA asset, the west African EOR asset and 226. Great to see the recent support for the company as they got their hands on $8m quite quickly and easily from a few phone calls from Art, exciting times ahead. Regards, Ed.
21/12/2020
14:05
city analyst1: Fellow investors, further to my previous posts, I’ve decided to take a long and hard look at the Atomic transaction in its entirety. Here goes… So, what’s the actual deal? • COPL is to acquire Atomic Oil & Gas LLC for a consideration of £39.9m ($54m) consisting of assumed debt, cash and shares. • Atomic is a privately-held, shale oil and gas play with assets in the Powder River Basin (in the State of Wyoming, USA). It is majority-owned by 74yr-old David Michael Walsh, the company's current President. Mr Walsh, who is currently knee-deep in debt, is working around the clock to try and stave off bankruptcy (see link below). • Atomic operates interests in 52,258 acres (gross) of contiguous leasehold. There are two oil production units within the block: the Barron Flats unit (57.7% WI) and the Cole Creek unit (66.7%). • A non-refundable deposit of £740,000 ($1m) has already been paid. • A debt-financed payment of £5.9m ($8 million) is now due on, or before, December 31, 2020, for 15% of Atomic's working interest in the Barron Flats and the Cole Creek units. • COPL will then take ownership of £19.2m ($26m) of Atomic’s bank debt. • COPL will then take ownership of an additional debt (accounts payables, director fees, pensions, etc.) of £11.1m ($15m). • Finally, COPL will issue Atomic Oil and Gas LLC COPL shares worth £2.95m ($4m). At 0.002pence per share, COPL could potentially issue 1.5bn shares to meet this requirement. • Previously known as Monreal Plc, debt specialist Eight Capital Partners will be overseeing the entire transaction. • The effective date of the transaction was December 1, 2020. • COPL ‘expects’ to complete the acquisition by January 31, 2021. So, from the above, I deduce the following: • COPL needs to find £5.9m before December 31, 2020 – in 10 days’ time! • COPL needs to issue shares worth £2.95m ($4m) to Atomic before January 31, 2021. If priced at 0.002pence per share, 1.5bn shares could be issued to meet this requirement. • On January 31 2021, and if all goes to plan, COPL will inherit £30.3m of Atomic’s debt but only control 57.7% (Baron) and 66.7% (Cole) of Atomic’s producing assets. Currently, no detail has been provided on the financial covenants surrounding the debt or the identity of the owner of the remaining 42.3% (of Baron) and 33.3% (of Cole). • Finally, COPL will need to raise additional cash for routine operational expenditure before January 31, 2021. Now, and to be absolutely clear, the above is not necessarily negative. It simply provides full visibility of the fiscal challenges attached to the transaction. Thus, going forward, the nature of the required financing, the detail behind the £30.3m debt, the audited oil production numbers, and Atomic's breakeven price (of oil per barrel) will determine the true value of COPL shares, and, subsequently, trigger a revaluation of the shares. It is, nevertheless, important to note that, according to Deloitte Energy Consultants, shale remains a relatively high-cost and capital-intensive method of recovering oil and gas from rocks. Its growth in recent years depended on prices artificially propped up by the Opec cartel’s decision to keep cutting production. The Permian Basin of Texas and New Mexico is the most prolific shale oilfield in the world, let alone the US. But even here, prices above $35 a barrel are needed to turn a profit. That aside, Arthur Millholland appears to have landed a 'material' opportunity through this 'distressed sale' which is likely to return a poor result for Mr Walsh who is under enormous economic duress. AIMHO. Https://www.mylife.com/david-walsh/e914182065408 Https://www.cob.uscourts.gov/bankruptcy-filing-statistics Https://www.shaleexperts.com/plays/powder-river-basin/drilling_activity?menu Https://www.bloomberg.com/news/articles/2020-12-03/falling-shale-break-even-costs-may-not-be-enough-to-spur-rebound .
21/12/2020
08:44
36jay: Funding update imminent and confirmed.No more placing.Soon 1p+.#copl Email confirmation from copl's IR that $1m deposit has already been paid from company funds - they had $2.2m at 30 Sep. No placing required for deposit. Copl are planning to fund the rest of the deal through debt and shares issued to seller.
12/8/2020
06:54
charlesjames1: And just like that on a public bulletin board you have appointed yourself king. Shares in issue have a dramatic bearing on the share price Firstly, it shows that the company has a severe disregard for its shareholders In that it issues them like confetti. This warns off potential buyers. Secondly, they pay their bills with shares. A clear sign that they are skint and another red flag. So before you spout about MC is king. Don’t kid yourself. A rising share price needs to attract new blood for it to be sustained. Good luck.
02/8/2020
16:09
kcowe: Courtesy skittish Lse . To me the whole point of the court proceedings issued by Essar on 6th April 2020 was to snaffle the entire licence in April/May through COPL being unable to defend the proceedings/perform the contract because they were cashless, whilst there was still time, at that point in time, for Essar get the licence extended for their sole benefit prior to end September 2020. That opportunity has now long since passed, and after COPL obtained an offer of £2M financing on 30th April 2020 Essar knew COPL could then drag out the court proceedings beyond the licence renewal date thus undermining the whole objective of Essars proceedings. At that date Essar knew that the licence would expire without being renewed, unless the parties could come to an agreement prior which could be put to the Nigerian authorities in order to obtain an extension. It is noticeable that in the annual results RNS of 13th May 2020 COPL did not refer at all to the Essar proceedings, although the parties were obviously in negotiation - maybe to say anything would have jeopardised the situation. Agreement with Essar was announced on 4th June 2020, subject to legals and licence extension. The proceedings, although now deferred, were a one shot chance - Essar couldn't pull it off - so resurrecting those now would serve no purpose - COPL has little money, but can drag out the proceedings beyond the licence expiry date if they were to be activated again. So "the deal" - which is actually agreed - is the only game in town now for both parties, and has been for quite a while now. It is that deal or the licence expires on 30th September 2020 and both lose everything at OPL226. That AM was quite effusive in the RNS of 21st July 2020 - ""With the commercial terms settled in the agreement in principal, the legal language over a number of agreements has largely been agreed upon. Both parties continue to work amicably towards completion and have agreed to extend the backstop date for two weeks, but we both hope this will be wrapped up earlier than that. We continue to look forward to the future working relationship with Essar to unlock the potential of OPL 226."" is important. Contrast that with 13-5-20 when they were still negotiating and AM said nothing - suggest all is now still good in working relationship terms. The deal is agreed, legals "largely" (legal speak) agreed upon - just could be the odd dotted "i" here and there - suggests to me that it is only the licence extension outstanding - and that is beyond the direct means of the parties to influence - "we both hope this will be wrapped up earlier than that". Maybe licence renewal delayed by the 2020 licencing round - pre qualification extended several times? The "big buying" 10 days ago and share price strength following 3 placings suggests that all is still well (to me) bar getting the licence extended so happy here for it to take as long as they need. We'll get news one way or another by 5th August
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