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$22.9m
Last closeC$0.02
High / Low (52 weeks)C$0.0 / C$0.0
Stock market listingCN, LN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual50.050.050.0
Relative *44.143.441.8

* % 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
Diversified Gas & Oil 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

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 0.0 (8.6) (8.9) (1.5) N/A N/A
2017A 0.0 (20.9) (20.4) (2.0) N/A N/A
2018E N/A N/A N/A N/A N/A N/A
2019E N/A N/A N/A N/A N/A N/A

Last updated on 24/04/2018

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. COPL and partner ExxonMobil both elected not to enter into a third exploration period, surrendering their rights to the LB-13 licence. 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 27/04/2018

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, the operator elected not to enter a further exploration period.

Last updated on 27/04/2018

Key management

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

Company address

3200
715 5th Avenue
SW Calgary
Alberta
T2P 2X6
Canada
View website