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Canadian Overseas Petroleum (XOP)

Business description

Canadian Overseas Petroleum (COPL) is a sub-Saharan Africa-focused E&P company with exploration assets in Mozambique and Nigeria.

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 *52.947.538.8

* % Relative to local index

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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 23/07/2018

Latest research

Investment summary

Following the unsuccessful drilling of the Mesurado-1 prospect in Liberia for which COPL and operating partner ExxonMobil have now surrendered their licence rights, the company’s focus has largely been on its Nigeria activities. 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. COPL highlighted in its recent Q118 results that significant progress has been made in securing a financing package for OPL 226 project.

Last updated on 27/07/2018

Industry outlook

COPL is actively pursuing opportunities in Nigeria and sub-Saharan Africa, its strategy being to generate stable cash flow from secure onshore and offshore assets. In addition to OPL 226, the company has been awarded the PT-5b exploration licence onshore Mozambique, adjacent to the gas producing Pande-Temane complex.

Last updated on 27/07/2018

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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