Ex- Oilexco Macher bohren wieder: Canadian Overseas Petroleum - 500 Beiträge pro Seite

[snafur]

Die ehemalige Oilexco Crew rund um Art Millholland bohrt wieder in der Nordsee.
Am 7. Juli startete die Bohrung im Fulla Projekt (Block 206/5a), westlich der Shetlands.
Die voraussichtliche Dauer der Bohrung beträgt 30-40 Tage.
Canadian Overseas Petroleum (COPL, TSX-V: XOP) übernimmt 60% der Bohrkosten, um einen 50% Anteil am Fulla und Freya Projekt zu erhalten.

Bei der Bohrung soll geprüft werden, ob es sich um eine Erweiterung des Freya-Fundes (es wurde dort eine 475 Fuß hohe ölhaltige Sandschicht gefunden) handelt.

Im positiven Fall wird eine gemeinsame Produktion beider Funde mit einem geplantem Produktionsstart 2014 angestrebt.

2011 und bis in den Anfang 2012 werden noch mindestens 5 weitere Bohrungen in anderen Nordsee-Projekten erfolgen:

- Esperanza (Block 22/15)
- Bluebell (Block 15/25a)
- West Columbus
- Newt
- Lower Toad (alle in Block 32/21)

Das Bohrprogramm ($100 Mio) ist durch vorhandenen Cash ($130 Mio) voll durchfinanziert.
Neben diesen Explorationsprojekten hat COPL noch Anteile an bestehenden Funden in der Nordsee:
- Freya
- Upper Toad
- Banks

Des weiteren plant COPL weitere Beteiligungen Offshore in Westafrika und Brasilien.
Konkrete Verhandlungen in Westafrika (Liberia, Block LB-13) laufen derzeit.

Homepage von Canadian Overseas: http://www.canoverseas.com
Neueste Präsentation: http://www.canoverseas.com/upload/media_element/29/01/05-18-…

Ich bin letzte Woche zu $0,46 eingestiegen.
Mal sehen, was der alte Pirat Art Millholland diesmal aus dem Hut zaubern kann.

[ooy]

Antwort auf Beitrag Nr.: 41.816.646 von snafur am 20.07.11 14:58:28

Bin schon seit 17.12.2010 dabei, allerdings zu umgerechnet 0,47 Eurocent, sehe die Sache allerdings aeusserst langfristig...

[snafur]

Antwort auf Beitrag Nr.: 41.835.003 von ooy am 23.07.11 18:14:49

Viele Leute haben sich an Oilexco arg verspekuliert, auch ich habe einiges an Geld dort verloren.
Der Aufstieg von Oilexco war rasant und alle Experten haben die Firma, das Management und die Projekte in den höchsten Tönen gelobt.
Der Fall und der Konkurs waren umso rasanter und viele der einstigen Fans bringen dem Management inzwischen alles andere als gute Gedanken entgegen.
Ich mache da aus meinem Herzen keine Mördergrube, vieles ist damals total falsch gelaufen, aber sicher ist nicht alles dem Management anzulasten.
Auslöser war die drohende Pleite des Kreditgebers, der Royal Bank Of Scotland.
Mit der Verweigerung der schon versprochenen Kreditzusagen brach das extrem teure Explorationsprojekt im Zuge der Finanz- und Bankenkrise rasant zusammen.
Eine geplante Finanzierung über Aktienausgabe wurde vom Aufsichtsrat geblockt, da angeblich für Altaktionäre zu verwässernd.
Letztendlich führte das zur Pleite und einem Totalverlust für die Aktionäre.
Klar, im nachhinein betrachtet sind auch einige der Managementaussagen zu den Projekten inzwischen recht kritisch zu betrachten. Siehe Ptarmigan, Huntington und vor allem Shelley.
Aber trotzdem hat es Art geschafft, innerhalb kürzester Zeit mit einer neuen Firma wieder 170 Millionen Dollar von Investoren einzusammeln.
Das zeigt, das es immer noch einen großen Rückhalt für die Fähigkeiten des Teams zu geben scheint.

Im Explorergeschäft sind Kursziele immer Roulette, bei den anstehenden Bohrungen von CANSUP bin ich aber recht positiv gestimmt.
Das ist kein ahnungsloses rumgebohre, sondern hat Hand und Fuß.
Ein initialer Erfolg wäre natürlich super, aber es folgen ja noch mindestens 5 weitere Bohrungen in den nächsten Monaten.
In etwa 2 Wochen wissen wir bescheid ...

[snafur]

Canadian Overseas Petroleum Makes Oil Discovery at Fulla

CALGARY, Aug. 24, 2011 /CNW/ - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX-V: XOP) has made an oil discovery at its Fulla exploration prospect in Block 206/5a in the Atlantic Margin of the UK North Sea in the West of Shetlands region. The well encountered a gross oil column of 133 feet that includes a net oil column estimated at 45 feet. The average porosity was estimated to be 21% in the gross reservoir. Additional detailed analysis is being conducted in the laboratory on oil samples taken from the well. Once the final well analysis has been completed, COPL and its co-venturer will discuss development options that include the Freya discovery made in 1980, which is located in the adjoining Block 206/10a. COPL owns a 50% equity interest in both blocks that include the Fulla and Freya discoveries, and Faroe Petroleum plc, the operator, owns the remaining 50%. The Fulla well spudded July 6, 2011 and was drilled to a total depth of 7,711 feet and was targeting oil in the Clair and Whiting reservoir sands.

Arthur Millholland, President and CEO of COPL, commented: "Fulla was the first of six exploration wells the Company plans to initially drill in the UK offshore, and it is great to discover oil on the first one. We look forward to discussions with Faroe about the next steps for Fulla and Freya, and also the wells to be drilled in the Esperanza and Bluebell prospects this autumn."



About the Company
COPL is an oil and gas exploration company focused in the UK North Sea, and the offshore Liberian and Brazilian continental margins. COPL's Common Shares are listed under the symbol "XOP" on the TSX Venture Exchange.

[snafur]

Canaccord Update:

Canadian Overseas Petroleum (XOP : TSX-V : C$0.28) - Buy - Target:C$1.20

Esperanza prospect update

Canadian Overseas (COPL) has announced that the Ocean Nomad semi-submersible drilling rig is on location at the Central North Sea Block 22/15 Esperanza prospect and is currently waiting on weather to commence drilling. Pursuant to the terms of its agreement with BG Group, COPL will acquire a right to purchase a 50% equity interest in the entire block, including the Banks discovery, by funding 75% of the costs (estimated at US$16 million) to drill the Esperanza well. Within 120 days of rig release from the Esperanza well, COPL may exercise such right upon paying an additional US$15 million. The 22/15-D well is targeting light oil in the Paleocene Forties sand. Using the pre-drill resource estimate of 10.8 mmbbl (5.4 mmbbl net), we estimate that Esperanza is worth C$0.04/share on a risked basis or up to C$0.13/share on an unrisked basis. The Esperanza well will be drilled into a strong, far-offset amplitude (AVO) anomaly at the northwest end of an 11 km long AVO anomaly that includes the Banks discovery to the southeast. The Banks oil discovery, made by BG in 2005, tested at 1,080 b/d of 39 API oil and 12.5 mmcf/d of gas from the Forties sand. The Esperanza/Banks Channel prospect is situated directly to the east of and is analogous to the Huntington discovery. We rate COPL a BUY with a NAV-derived target price of C$1.20/share. Using a Brent crude oil price of US$87.50/b flat real we arrive at a risked North Sea exploration portfolio NAV of C$1.20/share (fully diluted) excluding working capital. Fully unrisked, this figure rises to C$3.46/share (fully diluted). We conservatively estimate US$3.50/bbl NPV15% for the pending Liberia acquisition, which translates into C$1.00/share (fully diluted) of risked value and C$6.65/share (fully diluted) unrisked per billion barrels of prospective resources.

[snafur]

Nervöser Kursverlauf im Moment, einiges an News steht an.
- Ergebnisse der Bohrproben vom Fulla Fund
- Ergebnisse der Esperanza Bohrung kann jeden Tag kommen
- Bohrbeginn des Bluebell Projekts, die Rig (Sedco 704) hat schon Schlepper reserviert
- Farm-In Partner für Liberia

[snafur]

Kaum angekündigt, schon ist die erste News da.
Zweite Bohrung, zweiter Treffer. Sauber.

Canadian Overseas Petroleum Makes Discovery at Esperanza

Canada NewsWire

CALGARY, Nov. 9, 2011 /CNW/ - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP: TSX-V) has made an oil discovery at its Esperanza exploration prospect located in Block 22/15 of the UK Central North Sea. Block 22/15 is a Second Round license.

The 22/15-4 well, operated by BG Group ("BG"), was drilled by the Ocean Nomad semi-submersible drilling rig to a total depth of 9,427 feet. A reservoir section was encountered in the Paleocene Forties sand at a depth of 8,677 feet, and a minimum total of 52 feet of net pay from a minimum gross section of 73 feet was penetrated by this well. Data obtained from well logs, coring and wireline pressure measurements indicate that the reservoir fluid is light gravity oil. Oil samples were also successfully extracted from the wireline downhole sampler. COPL and BG have decided to proceed with drill-stem testing the well which is expected to take 10 days.

Once testing has been completed and the drilling vessel has been released from the site, COPL will have 120 days to decide whether it will exercise its right to purchase a 50% interest in the entire block from BG, which includes the Banks discovery, for US$15 million.

Arthur Millholland, President and CEO of COPL, commented: "We are extremely pleased with the results from the Esperanza well and look forward to continuing our work with BG in the block."

[snafur]

Trading halt heute und soeben die News dazu.
Exxon steigt zu 70% bei Canadian Overseas in Liberia ein.
Exxon zahlt für die 70% Anteil $55 Millionen Cash und übernimmt die kompletten Kosten für die erste Bohrung plus weitere Kosten.

Ein guter Deal, IMHO. Hoffentlich geht der jetzt zügig über die Bühne.
Liberia ist noch relatives Neuland im Ölgeschäft, da mahlen die Mühlen sehr langsam und wollen gut "geschmiert" sein. Leider.

Canadian Overseas Petroleum Signs Agreement with ExxonMobil for Offshore Liberian Block
Canada NewsWire

CALGARY, Nov. 16, 2011

CALGARY, Nov. 16, 2011 /CNW/ - Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSX-V:XOP) is pleased to announce that Canadian Overseas Petroleum (Bermuda) Limited ("COPL B"), a wholly owned subsidiary of the Company, has signed an Asset Acquisition Agreement with ExxonMobil Exploration and Production Liberia Limited ("ExxonMobil"), a wholly owned subsidiary of the ExxonMobil Corporation, with respect to the onward sale of certain of the interests in Block LB-13 offshore Liberia which, as previously announced on May 18, 2011, COPL B has agreed to acquire from the current owner.

Under the terms of the sale, which is subject to the approval of the National Oil Company of Liberia ("NOCAL") and the Government of Liberia and to the satisfaction or waiver of other closing conditions, ExxonMobil will acquire a 70% interest in the Production Sharing Contract ("PSC") governing Block LB-13 immediately following COPL B's acquisition of a 100% interest from the current owner. In return, ExxonMobil will pay COPL B US$55 million and pay COPL B's portion of the first well to be drilled on Block LB-13 to a maximum of US$36 million. If less than US$36 million is spent on COPL B's proportionate cost for the first well, the balance will be applied towards COPL B's costs of a second well if drilled. Additionally, ExxonMobil will pay COPL B's share of joint venture costs estimated at approximately US$6 million up to the completion of the first well. COPL B's equity interest in the PSC (Block) will be 30% upon closing and ExxonMobil will be the PSC's (Block's) designated operator.

The approval of NOCAL and the Government of Liberia is still required for the original proposed acquisition of Block LB-13 by COPL B from its current owner. Discussions are ongoing between the current block owner, COPL, the Government and NOCAL but consent has not yet been forthcoming, and there is no assurance that such consent will be granted.

As previously announced, COPL and COPL B have agreed with the current owner, subject to certain conditions being satisfied or waived, to pay a purchase price of US$85 million for a 100% interest in LB-13. The purchase price is to be satisfied by between US$45 million and US$50 million in cash and the remainder through the issuance of common shares of COPL priced at US$0.5473 per share.

If the minimum amount of cash is paid on closing, COPL will be required to issue 71,428,908 common shares representing approximately 25% of the number of COPL common shares currently outstanding. If the maximum amount of cash is paid on closing, COPL will be required to issue 62,500,295 common shares representing approximately 22% of the number of COPL common shares currently outstanding.

Block LB-13 covers an area of approximately 2,400 square kilometres. The Block is governed by a PSC having an 8-year term that commenced in May 2007. The PSC is divided into three phases of 4 years, 2 years and 2 years respectively. The second and third phases of the PSC require the drilling of a well in each phase. The second phase of the PSC commenced in May 2011.

In 2010, 2,200 square kilometers of long offset 3D seismic was shot to evaluate the oil potential of deep-water Cretaceous sands analogous to the recent deep-water oil discoveries offshore Ghana and Sierra Leone. Reviews of the seismic data conducted internally by the Company, and externally by independent reserve evaluators DeGolyer and MacNaughton ("D&M"), have identified the potential for a number of Cretaceous turbidite sand stratigraphic traps on the Block that possess strong seismic AVO anomalies and other direct hydrocarbon indicators which possibly suggest the presence of hydrocarbons.

At the request of the Company, D&M has prepared an independent report in accordance with National Instrument 51-101 evaluating the Prospective Resources attributed to Block LB-13 ("the Report"). In the Report, Gross Prospective Oil Resources recoverable are estimated to be the following: P90, 1.359 billion Bbls; P50, 2.314 billion Bbls; P10, 3.829 billion Bbls; PMean, 2.489 billion Bbls. The prospective resources estimates presented are based on the statistical aggregation of the prospects evaluated. It should be noted that there is no certainty that any portion of the Gross Prospective Oil Resources estimated in the Report will be discovered, or if discovered, will be commercially viable to produce any portion of the prospected resources evaluated.

Arthur Millholland, President and CEO of COPL, commented: "We are very pleased to work with ExxonMobil on this project. Offshore West Africa is an exciting region for oil exploration, and though lightly explored to this point, we believe the Liberian basin holds tremendous promise. We look forward to partnering with the Liberian government and NOCAL to invest in and progress the developing oil and gas industry within the country. Based upon our interpretation of the seismic data for the block, we think LB-13 could be the catalyst for the people of Liberia and for COPL as an international oil company."

[ooy]

Antwort auf Beitrag Nr.: 42.360.899 von snafur am 16.11.11 22:45:17

Warum der Absturz?
Kann man jetzt einsteigen?

[snafur]

Mangel an News im Moment, die weitere Unsicherheit ob im korrupten Liberia der Deal durch geht und die nicht ganz optimalen Testresultate der letzten Bohrung.
Die nächste Bohrung (Bluebell) sollte im Februar beginnen, schreibt Premier Oil, der Operator.

Hier die nächsten Bohrungen:
Q1 2012
◦Bluebell exploration prospect (Blocks 15/24c and 15/25f) - Drilling vessel has been contracted. Drilling on Bluebell is expected to occur in Q1 2012 because of the vessel's prior commitments.
◦Newt exploration prospect (Block 23/21 RoB)
◦Lower Toad exploration prospect (Block 23/21 RoB)

Q2 2012
◦West Columbus (Block 23/21 RoB)

[snafur]

National Oil Company of Liberia Accepts In-Principle the Proposed ExxonMobil and Canadian Overseas Petroleum Joint Venture for Block LB-13

CALGARY, April 18, 2012 /CNW/ - Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSXV: XOP) is pleased to announce that the National Oil Company of Liberia ("NOCAL") has written to advise of its acceptance, in-principle, of the previously announced proposed joint venture arrangement in the Production Sharing Contract ("PSC") governing Block LB-13 offshore Liberia.

As previously announced, it is proposed that immediately following completion of the assignment of the entire interest in LB-13 from Peppercoast Petroleum to a wholly-owned subsidiary of COPL, a subsidiary of ExxonMobil Corporation will acquire operatorship and a 70% working interest in LB-13 and COPL's wholly owned subsidiary Canadian Overseas Petroleum (Bermuda) Limited ("COPL Bermuda") will hold the remaining, non-operating, 30% working interest. Under the terms of the PSC, parties may only assign their interests to third parties whose "technical and financial reputation is well established". NOCAL has written to Peppercoast advising that it accepts that the proposed joint venture between ExxonMobil and COPL satisfies in-principle the technical and financial competency requirements of the transfer provisions for the PSC subject to agreeing on proposed amendments to the PSC, and the requirement that ExxonMobil acquires its 70% interest immediately following Peppercoast's assignment to COPL Bermuda.

The completion of the transactions are still subject to the satisfaction of other conditions but COPL is pleased to have reached this milestone and looks forward to working with NOCAL and ExxonMobil to satisfy the remaining conditions in the coming weeks.

[snafur]

Trading Halt!

Noch keine offizielle News da, aber das hier findet Google.
Wenn das stimmt, könnte danach die Post abgehen mit dem Wert.
Daumen drücken, ich halte noch einige Shares ...

MONROVIA, March 6 (Xinhua) -- National Oil Company of Liberia (NOCAL) has announced the signing of a exploration contract with the Canadian Overseas Petroleum Ltd. (COPL) and ExxonMobil for Liberia's offshore Block 13 (LB-13).

The contract has already been submitted to President Ellen Johnson Sirleaf for her signature, NOCAL Vice president for public affairs, Israel Akinsanya said on Thursday at a press conference.

He said the president will later submit it to the National Legislature for ratification.

According to Akinsanya, the Liberian government will receive what he referred to as unprecedented benefits, including an upfront payment of 50 million U.S. dollars representing signature fee, bonus, taxes and fees.

"The contract also provides other long-term financial benefits, strong social and environmental protection as well as provisions to promote local content and job creation in Liberia," he added.

Akinsanya said the contract is different in many respects from and better than previous ones and that it was moving the country closer to realizing Liberia's ambition of a new model agreement which is fair to the investor and beneficial to the country and people.

He said under the contract, the negotiating team of government also secured a 5 percent Citizen Participation Share in LB-13, and that NOCAL will receive without cost, a 10 percent share in Block 13 at the start of commercial production.

Quelle: http://www.shanghaidaily.com/article/article_xinhua.asp?id=1…

[snafur]

Dann wäre es noch schön zu wissen, wann Exxon bohren will. Bei der Menge an Geld, was die da reinstecken wollen, glaube ich aber nicht, das dies allzu lange auf sich warten lässt.

2013-03-27 08:48 ET - News Release

Mr. Arthur Millholland reports

LIBERIAN LEGISLATURE RATIFIES AMENDED PRODUCTION SHARING CONTRACT FOR LB-13

The Liberian legislature, consisting of the Senate and the House of Representatives, has voted in favour of ratifying the restated and amended production sharing contract for Canadian Overseas Petroleum Ltd.'s (COPL) target offshore block LB-13. Closing and completion of the previously announced transactions between the company's wholly owned subsidiary Canadian Overseas Petroleum Bermuda Ltd. (COPLB) -- first with Peppercoast Petroleum PLC, and second with ExxonMobil Exploration and Production Liberia Ltd. -- is expected to occur in the next few weeks subject to the satisfaction of certain closing and completion conditions. Once the transactions have closed, COPL will have a 20-per-cent working interest in block LB-13, with ExxonMobil the operator, having an 80-per-cent working interest.

[snafur]

2013-04-05 10:20 ET - News Release

Mr. Arthur Millholland reports

CANADIAN OVERSEAS PETROLEUM CLOSES LIBERIA LB-13 TRANSACTION

Canadian Overseas Petroleum Ltd. has closed and completed the previously announced transactions between the company's wholly owned subsidiary, Canadian Overseas Petroleum Bermuda Ltd., first with Peppercoast Petroleum PLC, and second with ExxonMobil Exploration and Production Liberia Ltd. COPL now has a 20-per-cent working interest in block LB-13, with ExxonMobil the operator, having an 80-per-cent working interest.

The closing of the transaction follows the ratification of the production sharing contract by the Liberian legislature, consisting of the Senate and the House of Representatives, which ratified the contract without making any amendments.

Arthur Millholland, president and chief executive officer of COPL, commented: "We are very pleased to be announcing the closing of this transaction for the block LB-13 PSC. This is a significant step in realizing the great opportunity for our shareholders and the citizens of Liberia. We look forward to working with ExxonMobil to move the project forward as we plan the exploration activities offshore Liberia."

[Jon_Schnee]

Canadian Overseas Petroleum (V.XOP) targets high impact exploration plays in Africa

Read more at http://www.stockhouse.com/opinion/interviews/2014/04/11/the-…


Q&A interview with Canadian Overseas Petroleum Ltd. (TSX: V.XOP, Stock Forum) President & CEO Arthur Millholland

Tell me about Canadian Overseas Petroleum and why should our audience be interested in the company?

The company is a participant in one of the most exciting offshore exploration plays of 2014. Offshore Liberia has been highlighted by the super-majors as one of the key conventional targets they have. COPL has partnered with Exxon Mobil to drill a well this year that will be targeting billions of barrels as the primary target.

In addition the COPL team has expanded its operations into Nigeria as it is putting its extensive development experience to work. High impact exploration projects balanced against appraisal and development projects that will be build a sustainable oil company that shareholders will want to be a part of.


One doesn’t typically hear very much about the oil and gas industry in Liberia. Why did you choose to enter this country?

The West African Transform Margin is one of the greatest offshore play types that is being pursued by the oil industry today. Many, for longest time, relegated it to myth and superstition. All of this changed with a string of discoveries from Ghana to Sierra Leone that proved this was a very active and lucrative oil basin. When the COPL team became aware of an opportunity to bid for the LB-13 asset it wasted no time in submitting a bid. Management recognized that it was a once in a lifetime chance to be a part of an asset that could be part of something very important to the industry. We did not seek out the country of Liberia we followed the geology. In doing so COPL has been able to provide its shareholders with access to a very significant drilling campaign.

How did the joint venture with ExxonMobil come about?

When COPL was announced as the successful bidder of the LB-13 asset it was apparent that we would require a partner to work with us to execute a world class drilling campaign on such an impressive geologic target. Exxon Mobil was selected in the fall of 2011 and our partnership has been extremely successful to date.

When do you expect to begin drilling on the Liberian property?

Drilling activity in Liberia will be very active this year. In the block adjacent to us Chevron has commenced drilling on LB-12. This is a follow-up from their earlier drilling campaign in the area. Industry is very keenly watching to see the results of this impressive mobilization of brand new drillship. Our drilling campaign is currently planned to commence after Chevron completes its operations. The next few months will be very active in Liberia as Anadarko has also given indication they will be drilling in Liberia this year as well.

I understand that you are pursuing other opportunities in West Africa, can you tell us about this?

Nigeria has been a focus of our business development for some time now. We are excited about the opportunities that we are currently evaluating. A key piece to the development of our Nigeria strategy has been the relationships that we have in Nigeria. Our in-country partners have been outstanding to work with. Their professionalism and commitment to build sustainable indigenous energy companies has been extremely well received. Nigeria represents for the COPL management a key area for growth and sustainability going forward.

Tell us about the Company’s decision to pursue listing on the London Stock Exchange?

The London markets have historically had an affinity for growth companies focused on African projects. We viewed the expansion of a secondary listing in London as a way of broadening our reach for capital, liquidity and information. As COPL continues to grow in a world that is economically converging we wanted to position COPL on the world stage as significant exploration and production company that can garner the attention of investors world wide.

So it sounds as though 2014 should be an exciting year for your Company. Please elaborate.

COPL will be participating in very transformational activities this year; the drilling of a billion barrel prospect in Liberia and the expansion into Nigerian development assets. It is not often that you come across a convergence of activities in a company’s calendar that has multiple value creation events. We are glad to see the hard work of our dedicated staff and support of shareholders come together in such a significant way.

-----------------------------------------------------------------------

Arthur Millholland – P. Geol

Mr. Millholland has been President and Chief Executive Officer of Canadian Overseas Petroleum since August 2009, and has been a professional geologist for 30 years. He has worked in a variety of regions including the UK North Sea, Canada, the Gulf of Mexico, the United States, South America, and West and North Africa. He is a member of the Association of Professional Engineers Geologists and Geophysicists of Alberta, and the American Association of Petroleum Geologists.

Disclosure: Canadian Overseas Petroleum is a Stockhouse client.