Canadian Overseas Petrol... Share Price (COPL)

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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
  0.00 0.0% 0.38 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -5.06 57
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.38 GBX
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Canadian Overseas Petrol... (COPL) Latest News

Canadian Overseas Petrol... News

Date Time Source Headline
30/4/202107:00UKREGCanadian Overseas Petroleum Ltd 2020 Year End Results
13/4/202107:00UKREGCanadian Overseas Petroleum Ltd Exercise of Warrants
12/4/202119:34ALNCTRADING UPDATES: Flooring firm Victoria expects record annual results
12/4/202107:08ALNC*Canadian Overseas to stop trading in London on April 21
12/4/202107:00UKREGCanadian Overseas Petroleum Ltd Update on Cancellation of LSE Listing
31/3/202114:42UKREGCanadian Overseas Petroleum Ltd Exercise of Warrants
31/3/202110:37UKREGCanadian Overseas Petroleum Ltd Holding(s) in Company
30/3/202107:00UKREGCanadian Overseas Petroleum Ltd Holding(s) in Company
24/3/202109:35UKREGCanadian Overseas Petroleum Ltd Exercise of Warrants
23/3/202107:00UKREGCanadian Overseas Petroleum Ltd Holding(s) in Company
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Date Time Title Posts
15/6/202111:27*****Canadian Overseas Petroleum*****4,709
25/5/202122:23◄ CANADIAN OVERSEAS PETROLEUM ►4,274
05/3/202111:09Completion on target 1
21/7/202007:30BUY 8,546
20/7/202023:54SELL COPL113

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Canadian Overseas Petrol... (COPL) Top Chat Posts

DateSubject
19/6/2021
09:20		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 0.38p.
Canadian Overseas Petroleum Limited has a 4 week average price of 0.38p and a 12 week average price of 0.38p.
The 1 year high share price is 0.59p while the 1 year low share price is currently 0.17p.
There are currently 14,953,619,791 shares in issue and the average daily traded volume is 1,532,000 shares. The market capitalisation of Canadian Overseas Petroleum Limited is £56,823,755.21.
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06/6/2021
11:41		dandadandan: Remember. Annual and Special Meeting Calgary, Alberta, on Tuesday, June 29, 2021 at 10:00 a.m. Plus 100:1 share consolidation. ( So 1,000,000 shares become 10,000 and likely share price could be around £1.30 ish??. That is my researched guestimate, but you need to do your own calculations.) DDDD.
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02/6/2021
12:17		edgein: Satk, You can tell your friend Harold that when the share price dropped below 0.1p old Ed here was able to increase his holding by x30 of my original holding. I was buying right down when Phurley et al was telling everyone COPL was going bust. So with the size of my holding at an average below 0.1p I'm looking forward to the relist. I hope Harold is following Cuda as their recent results make interesting reading regarding the Barren Flats Unit production increase. Looking forward to the relist. Ask your friend Harold if he thinks Art will pick up some of the assets that the majors are pulling out of in the UK North Sea. I think he should, the old Oilexco hunting grounds of the CNS etc. Regards, Ed.
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01/6/2021
21:42		bashbosh: First Post so please be gentle. One of my first on any media ever! Are these hedged prices? I see a lot of excitement from the rising WTI price, but is these hedged prices? Taken from this document (page4) hxxp://www.canoverseas.com/wp-content/uploads/2021/04/COPL-2020-MDA_Final.pdf Oil Fixed price - WTI Futures 207,123 BBL April 1, 2021 to December 31, 2021 $61.28 Oil Fixed price - WTI Futures 384,187 BBL January 1, 2022 to December 31, 2022 $56.58 Oil Fixed price - WTI Futures 416,772 BBL January 1, 2023 to February 29, 2024 $52.87
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30/4/2021
15:55		sportbilly1976: Page 4 Risk Management Contracts Effective March 15, 2021, in anticipation of the Closing of the Atomic Group acquisition and satisfying conditions attached to the Senior Credit Facility, the Company entered into a master risk management agreement with a counter party. These risk management contracts are not entered into for trading nor speculative purposes. The following risk management contracts were entered into subsequent to December 31, 2020: Product SWAP contract Total notional quantity (Gallon (GAL); Barrel (BBL)) Term Contract price per GAL or BBP/Monthly Gas Fixed price - Normal Butane (NC4) 7,766,022 GAL April 1, 2021 to December 31, 2021 $0.930 Gas Fixed price - Normal Butane (NC4) 11,110,302 GAL January 1, 2022 to December 31, 2022 $0.768 Gas Fixed price - Normal Butane (NC4) 9,921,552 GAL January 1, 2023 to February 29, 2024 $0.670 Oil Fixed price - WTI Futures 207,123 BBL April 1, 2021 to December 31, 2021 $61.28 Oil Fixed price - WTI Futures 384,187 BBL January 1, 2022 to December 31, 2022 $56.58 Oil Fixed price - WTI Futures 416,772 BBL January 1, 2023 to February 29, 2024 $52.87 (1) WTI refers to West Texas Intermediate, a grade of light sweet crude oil used as benchmark pricing in the United States. (2) Floating Price of the Gas contracts for each contract month is equal to the arithmetic average of the OPIS Mt. Belvieu Butane (non-LDH) for each business day during the contract month. Floating Price of the Oil contracts (3) Floating Price of the Oil contracts for each contract month is equal to the arithmetic average of the NYMEX Light Sweet Crude Oil Futures first nearby contract settlement price for each business day that it is determined during the contract month.
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19/4/2021
14:22		phurley: I think Nigeria is dead for COPL. Thats why there was so much desperation for the new assets. COPL is very difficult to value right now. Provided it does come back, and the gas treatment works, could easily add a penny to the share price
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11/3/2021
10:45		sportbilly1976: hTtps://twitter.com/tompearce1/status/1369949580654174210 om Pearce @tompearce1 COPL LN- Added at current lvls on placing weakness. ATOMIC acquisition on track for completion on 15th and £13m cash in bank to ramp up production in April. A great buying opportunity IMO as we may not see share price here again after next week. I believe 1p achievable in near term. #COPL He has 770k followers - if just 1% of these buy £5k's worth then the buying pressure is greater than current mkt cap / shares in issue
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08/3/2021
17:02		nasarsaddique: Canadian Overseas Petroleum LimitedAnnounces Proposed Fundraising for Net Proceeds of £13,000,000 Calgary, Canada & London, United Kingdom, March 8, 2021 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration and development company, today announces its intention to conduct an accelerated bookbuild (the "Bookbuild") to raise net proceeds of approximately £13 million by way of a placing (the "Placing") of, and subscription for, new common shares of nil par value in the Company ("Common Shares"). The Bookbuild will open with immediate effect following release of this announcement. The Placing is subject to the terms and conditions set out in the appendix (the "Appendix") to this announcement (which forms part of this announcement). A further announcement confirming the number of new Common Shares issued as part of the Placing and the price being paid per new Common Share (the "Issue Price") will be made following closing of the Bookbuild. Tennyson Securities is acting as sole bookrunner in relation to the Placing. About Atomic Atomic is currently a closely-held private oil and gas company incorporated under the laws of the State of Colorado. COPL will acquire 100% of the shares of Atomic on closing of the acquisition on March 15, 2021. Atomic's assets are located in the Powder River Basin in Converse County, Wyoming, USA where it holds operated interests in 58,552 acres (gross) of contiguous leasehold. There are two oil production Units within the lease block: the Barron Flats Shannon Miscible Flood Unit (57.7% WI) and the Cole Creek Unit (66.7%), as well as one unitized exploration area - the Barron Flats Federal Unit (deep). Atomic has two affiliates: The Southwestern Production Corp, the operating entity; and PipeCo, a midstream company holding the pipeline and facility assets. About the Company: COPL is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States through the acquisition of Atomic Oil and Gas LLC with operations in Converse County Wyoming, and in sub-Saharan Africa through its ShoreCan joint venture company in Nigeria, and independently in other countries.
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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.
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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
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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 .
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