Press release from PR Newswire
Edison Expands its Oil Coverage With Launch of Coverage of Canadian Overseas Petroleum
Friday, November 08, 2013
Edison Expands its Oil Coverage With Launch of Coverage of Canadian Overseas Petroleum04:46 EST Friday, November 08, 2013
LONDON, November 8, 2013 /PRNewswire/ --
Edison Investment Research, a leading international investment research firm, announces the initiation of coverage of Canadian Overseas Petroleum (XOP:TSX-V), a Canada-listed junior E&P company focused on targeting deepwater exploration prospects offshore Liberia and resources in New Zealand.
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Edison's comprehensive report, The appliance of science, was published on 7 November and examines the investment merits of Canadian Overseas Petroleum (COPL). Angus McPhail, an analyst on Edison's oil and gas team, suggests that substantial value for shareholders could be unlocked as a result COPL's recent collaboration with ExxonMobil (XOM). He highlights that the presence of Exxon gives a strong endorsement for the exploration acreage and provides financial backing, technical expertise and scope to open up a new frontier basin in the event of exploration success.
COPL is looking to increase its African exposure through producing and/or development assets in Nigeria. Based on current Liberia drill activity, we calculate a RENAV value of C$0.36/share. However, taking into consideration the play-opening potential of its Liberia block, a risked M&A valuation of C$1.60/share in the event of exploration success is anticipated.
For the full report see: http://www.edisoninvestmentresearch.com/research/company/canadian-overseas-petroleum
The launch of coverage on Canadian Overseas Petroleum marks a further expansion of Edison's worldwide oil and gas coverage. Edison provides research coverage on more than 45 oil and gas companies across the UK, mainland Europe, North America and Australasia, All reports Edison publishes are available to download free of charge from its website http://www.edisongroup.com.
About Edison Investment Research
Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support its capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Services Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
About Canadian Overseas Petroleum
Canadian Overseas Petroleum (COPL) is a TSX-V-listed E&P company targeting deepwater exploration prospects offshore Liberia and unconventional resources in New Zealand. Its management team was derived from former UK North Sea-focused Oilexco, which was wound up in 2009. COPL's depth of experience in advanced seismic processing to delineate prospects differentiates it from other Africa juniors. This has been applied across its Liberian acreage, enabling it to secure a farm-out deal with Exxon.
For more information please contact: Angus McPhail, Edison Investment Research, +44-(0)20-3077-5731, firstname.lastname@example.org
SOURCE Edison Investment Research