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Canadian Overseas Petroleum Limited and its affiliates have received a Resource Report prepared by independent energy consultancy Ryder Scott confirming its deep oil discovery on its affiliate COPL America Inc.’s lands in Converse and Natrona counties, Wyoming. COPL is an international oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming, United States. The report was commissioned by COPL to supplement its internal assessment of crude oil resources in its discovery disclosed to the market in January 2022. The report is compliant to Canadian regulatory requirements pursuant to National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) which stress conservatism to the evaluation. The geologic interpretations, reservoir determinations and risk assessments are Ryder Scott’s, and as such independent of the Company. Highlights Confirms the Wyoming deep discovery has total Original Oil in Place of 993.5 million barrels It is independent verification of the oil discovery announced in January 2022 These are conservative estimates complying with Canadian standards The Report: Supports the Company’s conclusion that the Frontier 2 and Dakota discoveries are large stratigraphic oil accumulations encompassing the reserves at the Company’s operated 100% WI […]
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