Canadian Overseas Petroleum Limited (LON:COPL)

Canadian Overseas Petroleum Limited (LON:COPL)

Share Price
0.13 p
-0.0055 (-3.99 %)
Market Cap
£3.29 m
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Canadian Overseas Petroleum Limited

Canadian Overseas Petroleum Limited is a junior oil and gas company focused in Sub-Saharan Africa. The company is headquartered in Calgary, Canada. Our shares trade on the London Stock Exchange (“COPL”) and on the TSX Venture Exchange (“XOP”).

Our team of highly skilled geologists and engineers have years of experience in the UK basin, West Africa, and a variety of regions throughout...

Market: LSE:COPL
52-week High/Low: 0.90p / 0.09p
Sector: Energy
Market Cap: £3.29 m
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Big Picture – A Deep Dive Examination of Canadian Overseas Petroleum Limited

Canadian Overseas Petroleum Limited Snapshot

COPL’s primary strategy is growth by drill bit. Offshore West Africa offers extraordinary possibilities for rapid growth. Up until recently, this region had little exploration relative to mature basins. However, in the past 2 – 5 years there have been a number of major oil discoveries that have resulted in increased activities in the area. Coinciding with discoveries and new production, the industry infrastructure is growing both offshore and onshore to accommodate and promote additional companies as they drill for and develop oil and gas resources.

Our 17% working interest in Block LB-13 offers a unique catalyst for a junior oil and gas company. Seismic data shot on the block in 2010 and reprocessed by COPL reveals a number of significant oil and gas targets. Our partner and the block operator is ExxonMobil. West Africa also offers a number of potential joint ventures with other oil companies who have licenses in the region. We are excited to include this region in our corporate focus!




COPL is focused on the regions of West Africa and other emerging oil and gas regions in the world.  West Africa is an attractive region because it has experienced signficant oil and gas discoveries in the past 5 years, yet still remains underexplored because of its vast size. The region has similar geological traits to the UK North Sea, yet holds the potential for significantly larger reserves. Our first property in West Africa is offshore Liberia in Block LB-13 in which we have a 17% equity interest. COPL’s management has many years of exploration success in the UK North Sea and seeks to lever its technical expertise in other oil and gas regions around the globe.

Exploration Properties


We have two attractive exploration properties that we believe will propel our initial growth. One property is a 17% working interest in Block LB-13 in offshore Liberia that is situated in a favorable location that includes late Cretaceous turbidite channels and fan complexes and rich source rocks on the West African Transform Margin.  ExxonMobil Exploration and Production Liberia Limited is the operator and holds an 83% working interest.


Canadian Overseas Petroleum Limited (COPL) has also announced that its 50% owned affiliate, “ShoreCan” has completed the acquisition of 80% of the share capital of Essar Exploration and Production Limited (Nigeria) – (“Essar Nigeria”).  Essar Nigeria’s sole asset is a 100% interest and operatorship of OPL 226 that is located about 50 kilometres offshore in the central area of the Niger D OPL 226 has an area of 1530 km2 and is situated in water depths ranging from 40 to 80 meters.  It offers oil appraisal and development opportunities having near term oil production potential and significant exploration upside.

Historically, five wells have been drilled, with the first oil discovery on the Block made in 2001 in the fifth well (Noa-1) after earlier drilling encountered predominantly gas-bearing sands.  ShoreCan, in the last year, has completed additional seismic processing to the most recent 568 km2 3D seismic survey acquired by Essar Nigeria in 2012.  The advanced seismic processing techniques, applied to this data set by ShoreCan, were successfully completed to better differentiate oil-bearing sands from gas and water-bearing sands.

We continue to look to add to our exploration properties as a source of growth for our company.

Arthur Millholland
President and Chief Executive Officer

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.

Rod Christensen
Vice President Exploration & Exploitation

Mr. Christensen has been Manager of Exploration since August 2009. He has 30 years working in the natural resource industry in Western Canada, the UK North Sea and throughout the world. He has served as the lead geologist for a variety of companies that have made numerous significant discoveries. He holds a Bachelor of Science Degree from the University of Washington.

Norman Deans
Vice President Operations

Mr. Deans has 20 years experience in the oil and gas industry primarily involved in the drilling and engineering of wells for both onshore and offshore.  During the course of his career he has worked for some of the world’s largest companies in the industry.  He has a Bachelor of Mechanical Engineering Degree (Honours) and a Master of Science Degree in Offshore Engineering.

Ken Halward
Manager of Reservoir Development

Mr. Halward has been Manager of Reservoir Development since August 2009. Mr. Halward has over 30 years of diversified experience in both the Western Canadian Basin, the UK North Sea and in international areas including Venezuela, Argentina, Ecuador, Libya, and the UK North Sea.


Shares Outstanding 617,139,350

Warrants 254,850,267

Options 61,005,000

Fully Dilluted 932,994,617

Head Office

3200, 715 - 5th Avenue SW

Calgary, Alberta

Canada T2P 2X6

Phone: 403.262.5441

Fax: 403.263.3251


UK Public Relations

Yellow Jersey Pr

7th Floor, 22 Upper Ground,

London, UK SE1 9PD

Charles Goodwin/Harriet Jackson

+44 (0)20 3735 8827

[email protected]


North American Investor Relations

Cathy Hume – CEO

CHF Investor Relations

Toronto, ON

80 Richmond Street, Suite 303

Toronto, ON, M5H 2A4

Phone: 416.868.1079 ext.231

[email protected]



Deloitte LLP

Calgary, Canada


Independent Reserves Evaluators

Sproule International Ltd.

Calgary, Canada


DeGolyer & MacNaughton

Texas, United States


Transfer Agent and Registrar

Computershare Trust Company

Calgary, Canada


Legal Counsel

McCarthy Tetrault

Calgary, Canada & London, UK


North American Investor Relations

CHF Investor Relations

Cathy Hume

Email: [email protected]

Phone: 416.868.1079 ext.231


UK Public Relations

Yellow Jersey PR Limited

Dominic Barretto/Harriet Jackson

Email: [email protected]



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