Canadian Overseas Petrol... Share Discussion Threads

[jace86] 22/5/2018 10:52

There will be a box ticking exercise I'd imagine. But as I've said on another board the NNPC is unbundling via the PIGB which the Nigerian president is yet to sign off one. The PIGB has been well over a decade in the making and its lost Nigeria a fortune so I'm sure they want it to be right to get rid of the corruption and to ensure that everything is in play for this venture to be profitable for all parties.

[neo26] 22/5/2018 10:34

Nicky

If we have to wait 10 years here i dont think the company would be here by then, it would have been liquidated years ago.

We are getting movement lately but can easily fall back 0.15p which is 30% of your investment gone.

Its just a simple transfer and something is happening in background.

Just get feeling something is not right, imho, dyor

[nicky21] 22/5/2018 09:43

am in EEL as well and we have been waiting 10 years for a resolution on the licences.

[neo26] 21/5/2018 22:54

NickyIts very quiet because it is taking too long to transfer the license its ridiculous.

[nicky21] 21/5/2018 16:22

OLD NEWS BUT WORTH A READ.




It would seem the CEO of COPL has not handled expectations very well. He has been promising finance news since the end of Q2, yet we still wait. This form of over promising diminishes the reputation of a CEO, and further it has emerged that finance is dependent on final approval from The Nigerian National Petroleum Company (NNPC), common sense maybe, but should have been made clear.

That said, we are where we are, NNPC approval is a formality (“it will not be unreasonably withheld”), and sources tell me finance is approved but will need that final NNPC approval then all will be announced in short order.

Therefore it seems pretty much game on, and like so many other companies, the ‘exaggerations’ of the CEO will be a distant memory as the company moves into drilling and production.

News can come any day, and I for one am now expecting it to be the case over the next couple of weeks.

Yesterday NNPC and Chevron announced a $1.7B deal targeting 39,000 BOEPD, COPL are targeting 60,000, which gives an indication of the prize.

COPL WILL multibag on news, and apart from the ‘misleading217; timescales, I think they are getting most things right.

Don’t forget they will be drilling known discoveries, this is not wildcat/exploration, also the CEO has invested himself, including on recent placings.

[nicky21] 21/5/2018 15:52

very quiet here considering this could be a 10 baggar.

[blueblood] 21/5/2018 15:00

Just had email saying I was entitled to payment of $15.5m from Nigerian bank. Told them to send it to NNPC from COPL....,

[nicky21] 20/5/2018 14:41

worth listening to this.does not mention an equity raise for developing OPL 226.

talking to a big oil trader.could it be Glencore??

[nicky21] 20/5/2018 14:22

Funding....


just hope Art does not dilute us shareholders.
hope he gets debt financing.
thats how he built oilexco.
reason oilexco collapsed was because of the financial crash.

[nicky21] 20/5/2018 12:51

see the accounts it has enough cash for another 6 months.

[neo26] 20/5/2018 11:35

Why is the company rising? We are gwtting closer to june and copl will need to raise cash just to carry on waiting for license. This license transfer has dragged on for too long...

[nicky21] 19/5/2018 21:27

been doing research.a lot of the super majors have been divesting in nigeria over last few years.
a lot of bargain licences to pick up.

just need Art to sort out funding.
their shorecan vehicle can easily be worth £1billion.

as it is 50% owned by Copl we could be looking at a share price of 30p for Copl.

thats long term ie 3-5 years.

[nicky21] 18/5/2018 17:01

just need this NNPC approval and then everything will move quickly.
i presume funding is in place and drill targets are ready.

[jace86] 18/5/2018 15:16

This looks to be the cause of the current delay...



In a later article there is an expression that the want approvals to come faster.

[nicky21] 18/5/2018 13:42

all quiet before the storm.

[miahkaysor] 18/5/2018 11:49

KORE POTASH (KP2) is about to shoot up!! very good chart! looks like another repeat of recent spike to well over 10p!!!!!

nai.dyor.allimho

[edgein] 18/5/2018 08:01

Nicky,

Yes with around 250mmbbls of prospective on appraisal targets mainly down dip of that previous discovery its got some serious upside. If/when the Nigerians approve the Essar transaction then things will hopefully move quite swiftly through funding and operational activity. Then they can get on with the job of finding that oil leg of that previous discovery, these Oilexco chaps were masters at North Sea appraisal drilling, very successful strike rate. So yeah its likely to be a very interesting end to '18 if all falls into place with this one.

Regards,
Ed.

[nicky21] 17/5/2018 20:34

seems this was well oversold.

[nicky21] 17/5/2018 18:35

can anyone out there predict an arcurate price when the following has happened

Approval,funding and drilling results.

am trying to predict but its confusing.

i would say between 7p-15p???

[nicky21] 17/5/2018 16:32

hopefully stabilise at these levels.

[nicky21] 17/5/2018 16:10

Edgein you seem to know your stuff.

Thanks.


a 10 Baggar or more in the making here.

[nicky21] 17/5/2018 14:27

seems the market has not woken up to the Nigerian potential.they still seem hungover over Liberia hence the very low share price with a market cap of around £12m.

[edgein] 17/5/2018 14:24

Nicky,

Yes, its just a waiting game until then. Hopefully Art has got everything else lined up, seemed pretty certain he was ready Q 4 last year. Its just put your feet up and wait for the Nigerians to do some work. Hopefully the wait is nearly over the and the last two days is a sign of a leak, at least its woken up a few folks to research what they've bought and the assets here are significant. If all falls into place and they drill in '18 there'll plenty of bags to be had on this price.

Regards,
Ed.

[nicky21] 17/5/2018 14:19

really need the NNPC to give the go a head.

the more i research this compnay the more better it looks.
on approval it could hit 3p and then on funding 5p.

[edgein] 17/5/2018 14:06

Nicky,

Yes if they're on track for their 20,000bopd production target by year two then that looks potentially possible.

Regards,
Ed.