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$12.7m
Last closeC$0.01
High / Low (52 weeks)C$0.2 / C$0.0
Stock market listingCN, LN
Forecast net cash (US$m)2.3
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *1.32.2(92.7)

* % 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 Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Green Dragon Gas
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
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 Ltd
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 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
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
Victoria Oil & Gas Wentworth Resources
WestSide Corporation Xcite Energy
Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 0.0 (7.7) (6.6) (2.2) N/A N/A
2015A 0.0 (6.5) (7.8) (1.7) N/A N/A
2016E 0.0 (6.5) (6.7) (1.1) N/A N/A
2017E 0.0 (5.5) (5.4) (0.8) N/A N/A

Last updated on 25/07/2017

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; however, the company retains a sizeable proportion of its US$120m gross exploration carry from partner and operator, ExxonMobil. This remains available in the event of further planned exploration. In September 2016, COPL announced that its 50%-owned subsidiary, ShoreCan, had completed the acquisition of an 80% interest in OPL226 offshore Nigeria – containing the Noa West oil discovery. The transaction is subject to ministerial approval.

Last updated on 03/08/2017

Industry outlook

COPL's Liberian acreage continues to attract significant industry interest after ExxonMobil's Liza exploration success in Guyana. Despite current oil prices, 'giant' high-quality oil fields such as Liza still offer attractive investment returns.

Last updated on 03/08/2017

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