Share Name Share Symbol Market Type Share ISIN Share Description
Canadian Overseas Petroleum LSE:COPL London Ordinary Share CA13643D1078 COM SHS NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  +0.003p +1.97% 0.155p 12,622,866 08:14:36
Bid Price Offer Price High Price Low Price Open Price
0.15p 0.16p 0.155p 0.15p 0.15p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -20.15 -2.00 3.7

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Date Time Title Posts
25/3/201913:51◄ CANADIAN OVERSEAS PETROLEUM ►3,071
25/3/201909:36BUY 529

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Canadian Overseas Petroleum Daily Update: Canadian Overseas Petroleum is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker COPL. The last closing price for Canadian Overseas Petroleum was 0.15p.
Canadian Overseas Petroleum has a 4 week average price of 0.13p and a 12 week average price of 0.13p.
The 1 year high share price is 0.86p while the 1 year low share price is currently 0.13p.
There are currently 2,418,622,350 shares in issue and the average daily traded volume is 29,184,405 shares. The market capitalisation of Canadian Overseas Petroleum is £3,748,864.64.
tomboyb: copl will have to rns the fall in share price - If no licence then unfortunately further falls - They will have to dispute it of course -
edgein: 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.
nick rubens: Is a a placing coming or something? Good news, a share price rise and now a fall?
bountyhunter: good luck! (you will need it) check out what has happened to a one or two oil and gas companies in Nigeria lately (e.g. Afren) market cap is so low as share price has fallen sorry to pour cold water on your enthusiasm but I have had a bad experience in the past not unrelated, you may strike it lucky for a while (and if that happens that would be the time to get out I would say) but I would be surprised if this works out long term
nicky21: why i bought COPL Guys you really need to check out COPL currently to buy 0.55p. A potential to be a multi baggar.It tried its luck in Liberia but failed to find any Oil.It is now concentrating in Nigeria.There it has partnered with Shoreline a Nigerian company. Copl and Shoreline have ventured together and created a company called Shorecan which is owned 50/50 by both.They have bidded for a Licence and are awaiting Approval and Transfer of Asset. The asset is OPL 226.Five wells have been drilled on OPL 226 by previous operators.A well drilled in 2001 encountered Oil. When all approvals are sorted then it will drill an appraisal well on the discovery in 2001.Financing for the drilling is meant to be secured for rumours are true. What is holding the share price back presently is NNPC approval. $60m was spent on this asset by the previous operator.the potential for Copl is huge. I know most of you gonna say its another Nigerian scam.IMO i think it is not.Presently we have 2 Nigerian companies listed on the LSE they are Egland Oil and Gas (market cap £250m) and Seplat Petroleum (market cap £850m) Copl management wants it to be a mid tier oil and gas company ie £250m-£500m All to play for.Current market cap for Copl is just under £10m.I think its one of the best plays on the LSE.
nicky21: 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: 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: "ShoreCan has applied to the concessionaire NNPC for formal consent for the change in control of Essar Nigeria. Essar Nigeria holds an attractive oil appraisal and development project in shallow to mid-water offshore Nigeria on its 100% holding in OPL 226. Drilling of the first appraisal well is planned to commence in 2018. ShoreCan continues building a portfolio of exploration and development assets in sub-Saharan Africa. To date, ShoreCan has taken a position in Nigeria and the Company and Shoreline have been awarded the PT-5b exploration license onshore Mozambique in the 5(th) Licensing Round adjacent to the producing Pande-Temane Gas and light oil field complex." The consent for change of control of Essar was expected in Q3 last year and the share price surged to in excess of 1.6p in anticipation of drilling. So the market is now expecting the permission to be granted soon I guess with the revival of the share price. I guess folks are now also looking at the Moz licence, its not just Nigeria anymore that could be a company maker here. If they get approval for control of Essar, financing complete and head for drilling its a substantial asset with near term production. They intend to produce from the modified rig so no long development times. If all the above goes ahead then I expect the share price to be multiples of where it is now, but its Nigeria, so high risk, high reward. Regards, Ed.
mr genel energy: BRILLIANT post.10 out of 10. It never ceases to amaze me just how much some are prepared to risk on very high risk AIM companies where the odds are against them, and this is a sure-fire way to quickly see all of your money go up in smoke! This is especially applicable to oil exploration, where the outcome of a single drill is likely to have a huge effect on the share price of these small companies, but where private investors tend to focus solely on how much money they will make based on the supposedly huge, but as yet undiscovered, resources that are being targeted. When people on the bulletin boards start discussing which model of Ferrari they are going to buy with their profits, it is usually time to run for the hills! In recent years we have seen a number of these high profile drills come and go with huge amounts of hype, which in most case ends in disappointment for those invested – the latest in a long line of failures being the Mesurado-1 well in Liberia, in which AIM minnow Canadian Overseas Petroleum (COPL) owned 17%, with ExxonMobil being the operator and owning the remaining 83%. For ExxonMobil this was just another drill and when it reached total depth and no hydrocarbons were indicated during logging, with the well being plugged and abandoned, it was no big deal, but it had a dramatic effect on Canadian Overseas, with the share price dropping over 80%. Just a few weeks back, I wrote a piece suggesting that it might be a good idea for people to bank the 200% odd profit that they would be sat on if they had also followed my buy suggestion earlier in the year. My sell suggestion – or at the very least to just leave some freebies running – was met with howls of derision by the usual bulletin board posters, with the usual accusations that I just wanted a cheaper entry. This was far from true as there is no way I’d risk my money these days on something where the odds were far from in my favour, with the drill having had just a 70% chance of finding hydrocarbons, and less than a 20% chance of anything found being commercial (or more than an 80% chance of it not being commercial). With these types of odds you might get lucky every now and again and have a big win, but if you keep on playing them then you are bound to end up losing, and you are totally ignoring the risk to your capital and doing nothing to try and protect it. Many of the more sensible investors who got in early will of course have banked a nice profit – with those who took part in the last placing having free warrants that they could exercise in the event of oil being found in any amount – and that was always going to be the sensible play from a risk management perspective. I have seen some on the bulletin boards suggesting that the company is now a good buy at this level, but I certainly wouldn’t be rushing to buy into it, even though its market cap has now dropped back below £10 million. It currently remains unclear as to whether there will be another drill on this licence – that should become clearer once all of the data has been analysed – and if there is, then Canadian will still be carried for up to a total of $120 million, more than enough for a second exploration well, should there be one. Aside from that though, things don’t look great financially for the company and I would expect to see further funds being raised very soon – I am a little surprised that the company didn’t try and raise more money when the drill was underway and share price was much higher, in a similar way to 88 Energy last year. At the end of September the company only had $3.7 million left in the bank – plus it will no longer get any funds from the warrants attached to the last placing as the strike price was $0.095 (close to 8p). The level of cash burn has been high for the company, even taking into account the listing on AIM, and of the $8.25 million gross raised at the end of April, $4.55 million of that had gone just five months later. It doesn’t help that it typically has been burning through $1.36 million per quarter! It does of course still have the 50:50 joint venture with Shoreline on the OPL226 licence in Nigeria, which does already have some contingent resources booked, but it will definitely need funding to be able to carry out any sort of work there. So even if you are still interested in this one, I would certainly suggest waiting until after the next placing has happened and the future plan for the Liberia licence becomes clearer. If you were one of those who got badly stung when the news dropped, then put it down to experience, but make sure that you actually learn something from it and do more to protect your capital in the future! Filed under: canadian overseas cash exploration exxonmobil fundraising liberia mesurado-1 nigeria oil opl226 risk share price shares shoreline warrants Never miss a story.
the patient investor: Lets not forget they say the drilling programme is due to start late 2016 It cd happen any time and the share price cd go INSANE! [...] Will COPL double? Broker upgrade sets 21p target ahead of Exxon’s well Share 13:28 25 Oct 2016 “Mesurado-1 is a high impact well and ... we believe that the risks lie firmly on the upside for COPL.” offhshore Shore Capital sets a new 21p price target for the explorer With a new target price Shore Capital sees the share price of Canadian Overseas Petroleum Limited (LON:COPL) doubling. Shore Cap today repeated a ‘buy’ and lifted its target price from 16p to 21p, which suggests around 100% upside to the current price of 10.6p. It comes ahead of a potentially game changing drill programme in the deep waters off the Liberian coast. Expectations surfaced earlier this month that the well would spud in November. “We had believed that an early spud date was quite possible and are therefore highly encouraged to see the reports of plans to commence drilling next month,” analyst Craig Howie said in a note. He added: “Mesurado-1 is a high impact well and, given the strong subsurface understanding and presence of a lucrative multi-well carry, we believe that the risks lie firmly on the upside for COPL.” Howie also highlights the boost from the recently completed acquisition in Nigeria, which adds near term production and exploration potential into the mix for COPL. “In our opinion, OPL 226 is a highly complementary (and value-accretive) addition, reinforcing COPL’s African footprint and bringing a later stage asset into the portfolio. The acreage contains an existing discovery and an offset well location has already been identified,” he added. Share Jamie_55a91591db06b.jpg Jamie Ashcroft WHY INVEST IN CANADIAN OVERSEAS PETROLEUM LIMITED? READ MORE HERE
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