17:00 Wed 23 Jul 2014
Canadian Ovrs Pet Ld - Corporate & Operational Update
Corporate & Operational Update
Highlights
As part of COPL's strategy in
· COPL and its partner continue to advance the LB-13 project with recent technical work adding substantially to the geologic model of the block
· New prospects have been mapped and identified by the partnership
· Drilling on Block LB-13 has been delayed due to the recent Ebola virus outbreak in the region resulting in a reduced presence of expatriates in country
West Africa Transform Margin (WATM)
· COPL has submitted a bid, as the operator of a consortium for a block in the WATM
· Partners in the consortium include a prominent producing independent African energy company
· COPL expects to be able to provide a further update on this process in Q3 2014
· The Option on OPL 2010 has expired and the Company continues to evaluate the block
· The Company is evaluating and negotiating on several other assets in
· COPL is in concurrent discussions to acquire two offshore blocks each with appraised oil discoveries with contingent resources based on historic drilling results
· Opportunities play to management's asset development experience
· COPL invited to participate in G&G study/evaluation for a deep water offshore block
"The Company continues to be motivated by the opportunity that exists in
The COPL team has been part of the evaluation of deep water prospects and the development of midwater production schemes over the last 30 years. It is this combination of experience and access to undeveloped assets that are creating these opportunities.
We continue to make significant progress with the technical evaluation of
About the Company
COPL is an international oil and gas exploration and development company focused in the offshore
For Further Information Please Contact:
COPL
Mr.
Phone: +1 403 262 5441
Investor and Public Relations
Mark Antelme or
North
Phone: +44 (0) 207 861
Joint Brokers
GMP Securities Europe
Phone: +44 (0)20 7647 2800
finnCap
Phone: +44 (0)20 7220 0500
Neither the
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