RE: Lots of news....19 Apr 2022 08:24
Adds unhedged production and exposure to the current high oil price environment and approximately doubles COPL's corporate cash flow.
· Increases COPL's 2P reserves by 47% from ¹25.8 million barrels to 38.2 million barrels. (COPL December 31, 2021 NI-51-101 Reserves)
· Provides significant leverage to COPL increasing the Company's NPV10 (47% working interest adjusted) by USD122,000,000, from ¹USD258,000,000 to USD380,000,000. (COPL December 31, 2021 NI-51-101 Reserves)