Game-changing US deal transforms Canadian Overseas Petroleum into a producer

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  • COPL says Atomic assets are performing significantly ahead of expectations
  • COPL chief exec says production performance is extraordinary
  • Canadian Overseas Petroleum resumes trading following reverse takeover of Atomic Oil & Gas
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Quick facts: Canadian Overseas Petroleum Ltd

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COPL is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States through the acquisition of Atomic Oil and Gas LLC with operations in Converse County Wyoming, and in sub-Saharan Africa through its ShoreCan joint venture company in Nigeria, and independently in other countries.

17 Aug 2021

(, , , ) told investors that the acquired Atomic Oil and Gas assets are performing significantly ahead of expectations.

Oil production from the assets is up some 80% measured at 2,200 barrels per day, up from 706 barrels at April 1 (the effective date of the transaction). Production volumes are expected to rise further.

Volumes have been supported by gas injection, with 1bn cubic feet (60% natural gas, 40% butane/propane) pumped in and the beginning of a well recompletion programme with two of twelve well operations to date. New drilling is underway to expand the Shannon asset and open up a potential new field development.

“The assets acquired through the acquisition of Atomic Oil and Gas LLC on March 16 are performing well beyond our initial expectations,” said chief executive Arthur Millholland. “Oil production will continue to increase as the surface well site production facilities are enhanced to handle the increased oil production rates and associated higher working pressures.”

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16 Aug 2021

(, , , ) shares are set to resume trading on the London Stock Exchange on Tuesday following its transformational reverse takeover of Atomic Oil & Gas.

The deal reinvents COPL as “a versatile oil and gas exploration and production and development company”, highlighted chief executive Arthur Millholland.

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26 Jul 2021

(, , , ) told investors that production is up around 50% currently, as it filed first-quarter results.

Production presently measures around 1,800 barrels per day gross, with volumes boosted after the start of gas injection activities at the Barron Flats pro

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17 Aug 2021

(, , , ) chief executive Arthur Millholland called the performance at the assets acquired from Atomic Oil & Gas as ‘extraordinary’.

It comes after COPL shares resumed trading in London in the wake of its reverse takeover to acquire production assets in Wyoming, and, told investors that those assets are performing ahead of expectations.

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17 Aug 2021

(, , , )’s ()() Arthur Millholland joins Proactive London’s Katie Pilbeam to discuss how the acquired Atomic Oil and Gas assets are performing and provides an in-depth plan of the company’s strategy.

Oil production from the assets is up some 80% measured at 2,200 barrels per day, up from 706 barrels at April 1 (the effective date of the transaction). Production volumes are expected to rise further.

Volumes have been supported by gas injection, with 1bn cubic feet (60% natural gas, 40% butane/propane) pumped in and the beginning of a well recompletion programme with two of twelve well operations to date. New drilling is underway to expand the Shannon asset and open up a potential new field development.

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Canadian Overseas Petroleum resumes trading following reverse takeover of…

Canadian Overseas Petroleum Ltd (LSE:COPL, CSE:XOP, FRA:V9LA, OTC:VELXF)’s (LON:COPL)(CSE:XOP) Arthur Millholland joins Proactive London’s Katie Pilbeam to discuss how the acquired Atomic Oil and Gas assets are performing and provides an in-depth plan of the company’s strategy.

Oil…

22 hours, 2 minutes ago

3 min read

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