15 Sep 2022
Step by Step
Following the completion of the Cuda transaction, COPL this week provided a summary of its updated Competent Person Report (CPR). We believe this was a necessary step before the company starts exploring options for replacing its current loan facility with a reserves-based lending (RBL) facility. The CPR assigned c.34mmbbls of 2P reserves to COPL, valued at NPV10 of $492mm (pre-tax), which we find encouraging and in line with our thesis. Namely, the updated CPR numbers do not imply a material dow ....
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Step by Step
Canadian Overseas Petroleum Limited (COPL:LON) | 0 0 0.0% | Mkt Cap: 0.60m
- Published:
15 Sep 2022 -
Author:
Dragan Trajkov -
Pages:
7
Following the completion of the Cuda transaction, COPL this week provided a summary of its updated Competent Person Report (CPR). We believe this was a necessary step before the company starts exploring options for replacing its current loan facility with a reserves-based lending (RBL) facility. The CPR assigned c.34mmbbls of 2P reserves to COPL, valued at NPV10 of $492mm (pre-tax), which we find encouraging and in line with our thesis. Namely, the updated CPR numbers do not imply a material dow ....