Canadian Overseas Petroleum (XOP)

Business description

Canadian Overseas Petroleum (COPL) is an Africa-focused E&P with exploration assets in Liberia and plans to expand into Nigeria through its ShoreCan JV. COPL is carried through a US$120m gross exploration programme in Liberia by ExxonMobil.

Stock data

Market cap.C$15.2m
Last closeC$0.01
High / Low (52 weeks)C$0.0 / C$0.0
Stock market listingCN, LN
Forecast net cash (US$m)3.9
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *5.5(31.3)(48.7)

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation AJ Lucas Group
Aminex Andes Energia
Antares Energy Athabasca Resources
AusTex Oil AWE
Azonto Petroleum Bankers Petroleum
Bitesize Briefing BNK Petroleum
Bowleven Bridge Energy
Buru Energy Cairn Energy
Canacol Energy Canoel International Energy
Cap Energy Carbon Energy
Carnarvon Petroleum CBM Asia Development
Central Petroleum Challenger Energy
Coastal Energy Columbus Energy Resources
Cooper Energy Core Laboratories
Cue Energy Denbury Resources
DEO Petroleum Deutsche Rohstoff
Dragon Oil Drillsearch Energy
Egdon Resources Elk Petroleum
Energy XXI Exillon Energy
Exoma Energy Falkland Oil & Gas
Faroe Petroleum Fastnet Oil & Gas
Forum Energy G3 Exploration
Gasol Genel Energy
Genie Energy Great Eastern Energy Corporation
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
Hellenic Petroleum High Peak Royalties
Hurricane Energy Hydrodec Group
IPB Petroleum Ithaca Energy
JKX Oil & Gas Karoon Gas
Kea Petroleum Kina Petroleum
Kreuz Holdings Lansdowne Oil & Gas
Leed Petroleum Leigh Creek Energy
LGO Energy Lion Energy
Liquefied Natural Gas Lochard Energy
Madagascar Oil Madalena Energy
MEC Resources Mediterranean Oil & Gas
MEO Australia Mosman Oil and Gas
Nautical Petroleum New Standard Energy
New Zealand Oil & Gas Nido Petroleum
Nighthawk Energy North Sea Energy
Northern Petroleum Norwest Energy
Otto Energy Pacific Rubiales
Parex Resources Petrel Energy
Petroceltic Petromanas Energy
PetroMatad Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Real Energy
Real Energy Corporation Regal Petroleum
Renergen Rockhopper Exploration
SacOil Holdings Salamander Energy
SDX Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Oil Sterling Energy
Stratic Energy Tethys Petroleum
Touchstone Exploration Tower Resources
TransAtlantic Petroleum TransGlobe Energy
Valiant Petroleum Vermilion Energy
Victoria Oil & Gas Wentworth Resources
WestSide Corporation Xcite Energy

Company news

Canadian Overseas Petroleum Limited: 2016 Year End Results

Wed, 29 Mar 2017 06:00:00 GMT

COPL investors look forward to a different kind of funding deal, eyeing new ...

Mon, 02 Oct 2017 11:41:24 GMT

Canadian Overseas Petroleum Limited CEO delivers corporate presentation

Fri, 19 Aug 2016 14:02:29 GMT

Canadian Overseas Petroleum Limited responds to recent volume increases

Mon, 24 Oct 2016 06:22:30 GMT

Canadian Overseas Petroleum Limited: Closing of UK Private Placement

Fri, 29 Apr 2016 06:56:15 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 0.0 (6.5) (7.8) (1.7) N/A N/A
2016A 0.0 (8.6) (8.9) (1.5) N/A N/A
2017E 0.0 (3.0) (3.0) (0.3) N/A N/A
2018E 0.0 (3.2) (3.1) (0.2) N/A N/A

Last updated on 23/01/2018

Latest research

Investment summary

Canadian Overseas Petroleum’s (COPL) Mesurado-1 prospect in Liberia targeted multiple Santonian deepwater channel sands with pre-drill gross P50 unrisked resource estimated at c 400mmbbl. The well located reservoir-quality sands but no hydrocarbons. Further activity in Liberia is uncertain at this stage. COPL’s 50%-owned subsidiary, ShoreCan, acquired an 80% interest in OPL 226 offshore Nigeria – containing the Noa West oil discovery. The transaction is subject to ministerial approval and funding is required in order to progress with appraisal and EPS development.

Last updated on 02/02/2018

Industry outlook

COPL’s Liberian acreage has attracted significant industry interest after ExxonMobil's Liza exploration success in Guyana. However, after an unsuccessful result at Mesurado-1 and difficulty in differentiating fluid phase on seismic, it is uncertain whether or not the operator will elect to drill a second exploration well.

Last updated on 02/02/2018

Key management

Harald Ludwig , Chairman
Chris Mclean , CFO
Arthur Millholland , President & CEO
Rob Elgie , Manager of Investor Relations

Company address

715 5th Avenue
SW Calgary
T2P 2X6
View website