Canadian Overseas Petroleum tumbles on covenant warning
Canadian Overseas Petroleum is closing in on approval to release new shares to the London Stock Exchange after releasing fourth quarter results
Company
LON:COPL
Canadian Overseas Petroleum Limited is an oil and gas company, headquartered in Calgary, Canada. The company creates value through the acquisition, exploration, development and production of oil and natural gas reserves and holds interests in petroleum assets in the United States of America.
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Canadian Overseas Petroleum is closing in on approval to release new shares to the London Stock Exchange after releasing fourth quarter results
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WTI (Mar) $80.13 -$1.49, Brent (Mar) $86.13 -$2.06, Diff -$6.00 -57c.USNG (Feb) $3.25 -19c, UKNG (Feb) 141.25p -8.75p, TTF (Feb) €55.82 -€2.93.Oil priceOil gave up the week’s gains after mixed data from the US panicked buyers although they
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WTI (Dec) $86.92 +$1.05, Brent (Jan) $93.86 +72c, Diff -$6.94 -50c. USNG (Dec) $6.03 +10c, UKNG (Dec) 280.0p -20p, TTF (Dec) €120.0 -€4.7.Oil priceThe see saw in oil prices continued yesterday as prices rose with markets following the bette
Net average crude oil sales before royalties averaged 1,107 barrels daily
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WTI (Dec) $88.17 -$1.83, Brent (Jan) $94.67 -$1.49, Diff -$6.50 +34c.USNG (Dec) $5.97 -29c, UKNG (Dec) 316.0p -9.01, TTF (Dec) €128.9 -€8.1.Oil priceThe US non-farm payrolls finish a week of international data that has seen 75bp rate rises
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WTI (Dec) $86.53 -$1.37, Brent (Jan) $92.81 -96c, Diff -$6.28 +31c.USNG (Dec) $6.35 +67c, UKNG (Dec) 294.0p, TTF (Dec) €118.515 -€8.09.Oil priceOil fell yesterday as the last day of the month gave the punters the chance to dress the windows
Information about Cole Creek's Frontier 1 assets was in hard files in storage
"Oil production from the Shannon Unit will increase as production rates have been restricted in certain wells," said Arthur Millholland, COPL’s CEO
Arthur Millholland, COPL president & CEO, commented: "While the delay in the hearing is unfortunate, the company's application is based on extensive and sound engineering which we look forward to presenting to the WOGCC in October"
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WTI (Oct) $86.79 +$3.25, Brent (Nov) $92.84 +$3.69, Diff -$6.05 +44c.USNG (Oct) $7.99 +8c, UKNG (Oct) 370.0 -34.0p, TTF € 196.0 -€84.33. Oil priceOil was flat last week with no need to reiterate all the reasons, save to say that further Cov
Net working interest 1P or proven reserves after royalties increase 47% to 17.3mln barrels equivalent, with discounted net present value 93% higher at US$255mln
The oil and gas company recently announced the significant potential of its Converse County discovery in Wyoming
Petroleum sales, net of royalties, were unchanged from the first quarter at US$7.1mln
Compiled by consultancy Ryder Scott, the document confirms the deep discovery has total original oil in place of 993.5mln barrels
"I am delighted we have finally completed this acquisition,” said Arthur Millholland.
"We are proceeding with our objectives for 2022," said chief executive Arthur Millholland
COPL said it expects completion to occur sometime between 10 June and 10 July 2022, subject to US approval
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