COPL ‘very pleased’ with financing progress for Nigeria venture
Securing a 'significantly larger' financing package for Nigeria appraisal and development programmes remains the main priority for COPL.
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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Securing a 'significantly larger' financing package for Nigeria appraisal and development programmes remains the main priority for COPL.
Investments and investor services
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The facility would cover expenses after an initial production well has been drilled and tested
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Chief executive Arthur Millholland highlighted that the group’s economics are “very attractive” especially as crude oil prices remain above US$75 per barrel
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If the appraisal well is successful it could potentially be brought online as part of an early production scheme
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A glance at some of the day's highlights from the Proactive Investors newswire
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“We envision building a mid-tier oil and gas company with the support of our partner Shoreline Energy, one of Nigeria`s largest conglomerates, our financing partners and our loyal shareholders”
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A glance at some of the day's highlights from the Proactive Investors newswire
We take a look at some of the major movers - risers and fallers - in London on Friday.
COPL boss Arthur Millholland described it as "an exciting new opportunity" for exploration in a hydrocarbon-rich area
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"We continue to focus on developing our attractive oil appraisal and development project in OPL 226, offshore Nigeria,” Millholland said