Canadian Overseas Petrol... Share Discussion Threads

[chesty1] 01/8/2018 13:38

Hope nobody was caught in that pump it's going all the way back down

[edgein] 31/7/2018 09:58

Ride,

Pretty much. High risk/reward. Priced as if its never gonna happen and that COPL is just Moz and further potential acquisitions with Shoreline across Africa. With yesterday's RNS clearly there are some that do believe that Art will do the business in Nigeria, Trafigura have put their name to it. The oil services company is highly likely to be SLB who are funding/developing the adjoining structure in OML83 directly north of OPL226. So heavyweights involved with the FDP, its all down to whether Shoreline and Art can come up with the balance $20-33m. Fully funded I cannot see NNPC having any issues with this consortium of heavyweights, the indigenous company is already a decent sized player in Nigeria (Shoreline Energy international). Just down to Art to complete his end of the bargain, will he won't he etc. He seemed rather confident in the past that funding would be there. He may come up with some sort of pre-payment deal like SRSP did with BP, depends on how much wriggle room there is in the Trafigura offtake.

Regards,
Ed.

[ride daice] 31/7/2018 09:32

"We are confident that we will complete the process to enable Essar Nigeria to commence this first phase of development operations."

I think the outcome is pretty binary. Either Art will pull this off or he won't. An interesting Risk / Reward dilemma.

[ultra capital] 31/7/2018 08:55

Taking a few more at this price

[edgein] 31/7/2018 08:50

NR,

Nobody knows, it could be equity, part equity or just debt funding for COPL's share of the Shorecan commitment which then opens up the possibility of FFD. These multiple compartments they're targeting have significant P50 and NOA has reasonable C3. Clearly the scale of the development has interested Trafigura, the fluid modelling of the discovery wells vs the appraisal wells is interesting especially Art's record of appraisal drilling success with Oliexco. In 26 years of investing in O&G I never saw a small cap with such an appraisal success rate as Art had with Oilexco, whether it was structural or stratigraphic he just kept finding the stuff which makes this compelling given this current development. So the cap is £160m, 80m, nah just £8m, market doesn't believe the project will take place, are they correct though given yesterday's developments?

Regards,
Ed.

[nick rubens] 31/7/2018 08:34

Is a a placing coming or something? Good news, a share price rise and now a fall?

[duxy786] 31/7/2018 08:01

More jam anyone?

[edgein] 31/7/2018 07:59

Alexios,

Yes the spread in Canada at present is 0.58-0.87p.

Regards,
Ed.

[alexios1201] 30/7/2018 18:14

Edgein0.015 CAD is 0.88p equivalent

[mr ramper] 30/7/2018 15:34

seems market does not like the news.

[edgein] 30/7/2018 15:23

The price hasn't moved in Canada yet either. Its still 1-1.5c where it closed on Friday. Small volume at 1c which is the equivalent of 0.58p.

Regards,
Ed.

[mr ramper] 30/7/2018 15:20

good news today

[rjetrades] 30/7/2018 15:05

RamperSearch for XOP and it will show you on TSX

[mr ramper] 30/7/2018 14:59

link please for TSX??


reason down is because market expecting placing...which i doubt will happen..

most likely be a Corporate Bond issued for $10m-$15m

so get in at these prices.

[tomboyb] 30/7/2018 14:54

TSX down 33% -

?

[rjetrades] 30/7/2018 14:15

TSX opens at 2.30pm...lets see a good afternoon

[mr ramper] 30/7/2018 13:59

where is everyone .
best news for ages.

[edgein] 30/7/2018 12:57

Just in case anyone didn't know who COPL are partnered with for our Shorecan subsidiary:



Regards,
Ed.

[edgein] 30/7/2018 12:23

Seems like the market here hasn't grasped the significance of this RNS, still priced as if 226 isn't gonna happen. Interesting early development plan for 3 wells. Previously they have phase I production of 6,000boepd with peak production at 60,000boepd so it'll be interesting to see subsequent presentations once this one progresses. They may even release the FDP presentation that they're giving to the NNPC in the near term. I wonder will it get the increase it deserves when the TSXV opens later.

Regards,
Ed.

[tomboyb] 30/7/2018 08:01

See if this can hit 1p+ -

Morning -

[edgein] 30/7/2018 08:01

Trafigura is the offtake provider and google suggests they'd a turnover of $136.4bn USD last year. So COPL getting some heavyweights in. I wonder if the service provider of the FFD facility is SLB, I guess we'll find out in due course.

Regards,
Ed.

[edgein] 30/7/2018 07:58

Well no smoke without fire, that article on Friday said that the DPR had passed 16 development plans. Now we have confirmation of a presentation to the NNPC for the 226 development plan. More updates regarding the service provider etc in due course. Lining up nicely to drill. The service provided is gonna arrange finance for $100m for FFD for multiple wells. Progress at last.

Regards,
Ed.

[mrshaungcm] 30/7/2018 07:37

No equity raising - that must be due any minute