Canadian Overseas Petroleum Limited (DI) (COPL)

Sector:

Energy Producers

0.098p
   
  • Change Today:
      0.008p
  • 52 Week High: 0.34
  • 52 Week Low: 0.085
  • Currency: UK Pounds
  • Shares Issued: 3,483.75m
  • Volume: 105,426,646
  • Market Cap: £3.40m
  • Beta: 0.02

Canadian Overseas Petroleum shuts down Liberian asset to focus on Nigeria

By Iain Gilbert

Date: Monday 13 Nov 2017

LONDON (ShareCast) - (ShareCast News) - AIM-listed firm Canadian Overseas Petroleum (COPL) filed its third-quarter results on Monday, issuing a brief trading update on its West African operations in the process.
COPL and its partner in block LB-13 offshore Liberia both elected not to enter into a third exploration period at the asset, and eventually opted to surrender the rights to the license, resulting in a total impairment to its exploration and evaluation assets of $15.6m.

The group also noted it had continued to work with its investment bankers to source funds for the appraisal and development of its OPL 226 project in Nigeria and that it planned to begin drilling of an appraisal well in "early 2018".

Arthur Millholland, chief executive of COPL, said the appraisal programme would likely be the first step towards a full field development project.

"We continue to focus on developing our attractive oil appraisal and development project in OPL 226, offshore Nigeria," he said.

"The initial work program will be to drill an appraisal well to the NOA-1 oil discovery and place it on production through an Early Production Scheme. This would be followed by the drilling of up to three additional similar wells on the NOA Structure."

As of 1230 GMT, shares had dropped 9.30% to 0.975p.

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COPL Market Data

Currency UK Pounds
Share Price 0.098p
Change Today 0.008p
% Change 8.33 %
52 Week High 0.34
52 Week Low 0.085
Volume 105,426,646
Shares Issued 3,483.75m
Market Cap £3.40m
Beta 0.02

COPL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.68% above the market average0.68% above the market average0.68% above the market average0.68% above the market average0.68% above the market average
79.8% below the sector average79.8% below the sector average79.8% below the sector average79.8% below the sector average79.8% below the sector average
Price Trend
93.3% below the market average93.3% below the market average93.3% below the market average93.3% below the market average93.3% below the market average
82.69% below the sector average82.69% below the sector average82.69% below the sector average82.69% below the sector average82.69% below the sector average
Income Not Available
Growth Not Available

COPL Dividends

No dividends found

Trades for 13-Sep-2019

Time Volume / Share Price
16:25 1,058,710 @ 0.095p
16:14 715,454 @ 0.095p
15:29 293,555 @ 0.095p
15:14 1,000,000 @ 0.099p
15:00 2,000,000 @ 0.099p

COPL Key Personnel

Chair Harald Ludwig
CFO Aleksandra Owad

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