Only a select group of explorers have active drill programmes, but, those with high impact potential at little or no cost are even rarer still.
Canadian Overseas Petroleum Limited’s Liberia well makes it a rarity
COPL has a 17% stake in what it describes as a ‘low risk, high impact’ exploration opportunity.
Given the sparse exploration landscape being involved in any kind of active project puts a company a pretty select group, but, those with bona fide high impact potential, at little or no cost are even rarer still.
But, that’s the position of London and Toronto listed Canadian Overseas Petroleum Limited (LON:COPL, CVE: XOP), which is partnered by ExxonMobil offshore Liberia.
Later this year – or early next – the company will come sharply into focus as Exxon finally begins drilling the Mesurado-1 exploration well.
It comes despite the extremely challenging backdrop of recent humanitarian crisis caused by Ebola in West Africa, and the economic shockwaves through the oil and gas industry following the collapse of crude oil prices.
COPL owns 17% of the exploration project, which it describes as a ‘low risk, high impact’ opportunity.
Whilst Liberia will be a key focus for investor, more recent opportunities in a separate joint venture also promise a value-adding future for the dual listed group. READ MORE OF THIS ARTICLE
