Canadian Overseas Petrol... Share Discussion Threads

[blueblood] 01/3/2021 11:56

Bought some more today to average up. Bring it on!

[sportbilly1976] 01/3/2021 11:06

Just the NMS of 500k at 0.38 anything greater is 0.39

[sportbilly1976] 01/3/2021 09:52

MM's looking for stock - another large order to fill maybe?

5mln offering .37

[billthebank] 01/3/2021 09:05

Yup 0.382 to sell

[blueblood] 01/3/2021 08:57

Paying over and NT looking good for 0.4p break today!

[blueblood] 01/3/2021 08:55

About time too! Maximum 2 weeks away from transformational deal!

[billthebank] 01/3/2021 08:54

Market definitely waking up to the COPL story! 0.38 to buy now

[billthebank] 01/3/2021 08:37

Looks like its beginning to move?

[blueblood] 01/3/2021 08:17

This company fundamentally changes for the better in next 2 weeks. The Atomic deal is not being factored in by market yet. Get a head start and get your 1p+ shares for 0.35p!

[sportbilly1976] 01/3/2021 08:13

#Copl
Nvp of Atomic deal is $330m or £260m at 57% wi @ oil price $64
and rising 1400bopd rising to 5000k.
Completion anyday from tmrrw, and then we go for 100% at combined nvp value $550m+ or £400m+
Mc £34m ...........

[edgein] 01/3/2021 07:51

Is that a second 92.5m buy listed this morning or the one from Friday listed again? I guess the little sellers will continue to fill these large buy orders between now and financial close due in just 10 trading days. Not long now until the transformation begins.

Regards,
Ed.

[asm5] 28/2/2021 20:11

https://www.google.co.uk/amp/s/amp.ft.com/content/bc00a1d9-5041-48e8-b07b-df6eadb2e9dc

[asm5] 27/2/2021 18:59

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

[saint in exile] 26/2/2021 17:22

..apart from the 92.5million share buyer Bill???

[sportbilly1976] 26/2/2021 14:48

Bill,

.352 / .353 trades are buys

[billthebank] 26/2/2021 14:39

Unfortunately no buyers!!!!!?

[billthebank] 26/2/2021 13:51

Blue!!!!!Small acorns!!!

[sportbilly1976] 26/2/2021 13:29

MM's with a bit of stock at this level .353/354 to buy currently

[blueblood] 26/2/2021 13:03

Nice reversal should move lot higher to close valuation gap with asset NPV in March. Completion on 15th?

[sportbilly1976] 26/2/2021 10:51

Added some more this morning - back onto the support point with the rising trend and in anticipation of imminent Atomic confirmation

[greatfull dead] 25/2/2021 12:10

Sport,

I thank you too. Great read.

ATB,
GD

[edgein] 25/2/2021 08:56

Sport,

Cheers for posting that presentation, that makes for some reading, awesome!

So if these had been treated like a normal RTO they would have relisted at an equivalent of 1.5p on completion on March 15th. Not long to go now.

£146m suggested value looks very realistic on a NAV of circa $250m, with that underlying value obviously increasing as they get to 4500bopd and up to 7000bopd. Net backs inclusive of nat gas and propane costs at $44/bbl at 1400bopd is super! That will likely approach or even pass $50 on 7000bopd as most of the costs are fixed. So hopefully oil will average $60-65/bbl for the year. I don't see why not when the air travel and global economy set to get going again mid year.

Other significant points in there too is the level of liquids associated with the 31mmbbls. Appox 28mmbbls of light oil, around 1.5mmnnls of natural gas liquids and only 0.6mmboe of gas. So these fields are almost exclusively light oil, no wonder they can get such a strong light sweet crude production profile from that. What is at least as important is the upside from consolidation of the asset the added bonus of the deeper formations. According to Art the deeper formations that haven't been developed offer significant further upside. Earlier articles suggested the stacked nature of the sandstone formation in these fields and the upside that offers.

All in all a cracking presentation, the best I've seen since reading the one on 226. Answers a lot of questions about the make up of the reserves and further upside. Onward and upwards.

Regards,
Ed.

[billthebank] 25/2/2021 08:31

Surprised we arent well into 0.4s already as Canada was up 33% yest to 0.57p

[billthebank] 25/2/2021 08:17

Still nice start to the day

[billthebank] 24/2/2021 16:07

Exactly.Maybe tomorrow morning. cant understand why this is not testing at least 0.5!!! I am guessing it is AMs predelection for placings even when it isnt needed