Canadian Overseas Petroleum Limited’s (LON:COPL) Arthur Milholland joins Proactive to talk about the significance of upgrading its reserves following the completion of the acquisition of Cuda Energy’s assets.
Proven reserves after royalties increase 47% to 17.3mln barrels equivalent (boe), but the real highlight is the value of the assets.
The independent upgrade means it can push ahead with plans for a reserve-based lending facility and underlines that it has ‘an extraordinary asset base’, Milholland adds.
#Canadian Overseas Petroleum Limited #oil #Canada
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