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

%1m3m12m
Actual0.0(33.3)(50)
Relative *5.5(31.3)(48.7)

* % Relative to local index

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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

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