Announcing its 2017 Y/E results, Canadian Overseas Petroleum (COPL) said that the Company, its joint venture partner and its investment bankers are securing financing for its appraisal/development project at OPL 226, offshore Nigeria, held through COPL’s joint venture with Shoreline Energy. COPL and its joint venture partner are currently in discussions with potential contractors and suppliers to drill an appraisal well in 2018.
Arthur Millholland, President & CEO, commented:
'The past 12 months, our focus was, and continues to be, on developing our highly prospective oil appraisal and development project at OPL 226, offshore Nigeria. We look forward to drilling an appraisal well to the NOA-1 oil discovery and place it on production through an Early Production Scheme. This would be followed by the drilling of up to three additional similar wells on the prolific NOA Structure. This phase of the project would precede a full field development.
For technical information regarding OPL 226, see the Presentation OPL 226 Project Summary – May 2017