Canadian Overseas Petrol... Share Discussion Threads

[blueblood] 06/8/2018 08:41

Did you buy any guys?

[guyswonga74] 05/8/2018 11:31

Hoping to get some of these at 0.6p on the Bell tomorrow

[ride daice] 04/8/2018 09:43

30 minute interview with Art on Stocktube.

[ride daice] 02/8/2018 19:07

Despite a massive loss I couldn't quite force myself to sell after the Liberian duster.

I might just get a square meal out of this yet :-)

[malcontent] 02/8/2018 16:27

nice find Ed

let's see how they get on - I have a few - worth keeping an eye on

[jon1962] 02/8/2018 10:35

Anyone remember Equator exploration (EEL) in Nigeria, where investors lost huge! Luckily I lost a small amount which I could well afford but like here many thought the upside huge on EEL.Turned out to be a scam and investors are still trying to get their money back after many years! I wish all investors luck on here and probably and hopefully will come good but in my opinion even though upside is huge , not worth putting in more then one can well afford to lose on this one!

[edgein] 02/8/2018 08:55

I wonder is history gonna repeat itself with these. This time last year the market had decided that Nigeria wasn't gonna happen and the share price was around here. Then by September it looked like there was a green light for drilling end of the year and the share price shot to 1.6p in next to no time. Now COPL are presenting to NNPC after agreeing developmental funding with an estimated spud date of end of '18 start of '19. Looks like a very similar pattern developing here, especially if Shoreline/COPL can secure approval for the FDP from NNPC. That article suggested that 16 FDP's were passed by the DPR recently.

Regards,
Ed.

[mrshaungcm] 01/8/2018 19:46

time to buy again soon
all so boring making a few pennies profit

[duxy786] 01/8/2018 14:25

Normal service has been resumed

[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.