COPL’s primary strategy is growth by drill bit. Offshore West Africa offers extraordinary possibilities for rapid growth. Up until recently, this region had little exploration relative to mature basins. However, in the past 2 – 5 years there have been a number of major oil discoveries that have resulted in increased activities in the area. Coinciding with discoveries and new production, the industry infrastructure is growing both offshore and onshore to accommodate and promote additional companies as they drill for and develop oil and gas resources.
Our 17% working interest in Block LB-13 offers a unique catalyst for a junior oil and gas company. Seismic data shot on the block in 2010 and reprocessed by COPL reveals a number of significant oil and gas targets. Our partner and the block operator is ExxonMobil. West Africa also offers a number of potential joint ventures with other oil companies who have licenses in the region. We are excited to include this region in our corporate focus!