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3200, 715 – 5th Avenue SW Calgary,
Alberta Canada T2P 2X6
Email: info@canoverseas.com
Phone: +1.403.262.5441

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Canadian Overseas Petroleum Limited

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COPL Reserve Summary Tables

at December 31, 2021 and July 31, 2022

Investor Presentation

October 2022

Updated Version Coming Soon

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Firm

Alternative Resource Capital Hannam & Partners
Tennyson Securities

Location

London, UK
London, UK
London, UK

Barron Flats Unit

  • Current production c.1,450 bbl/d (gross) with a forecast rise to 5,000 bbl/d in 2023 (based on 2P reserves forecast predictions).  Reservoir simulation work suggests that additional production rates may be obtained through increased gas injection rates, proper miscible flood management and a successful development drilling program.

 

  • Federal Unit (Deep) (55.56% WI): 24,650 gross acres – significant upside in deeper horizons with horizontal wells

Cole Creek Unit

  • Initially, up to 17 cased oil wells (many currently suspended) will be re-completed and put back on to production in the second half of 2021.

 

  • Field limits will be defined by development drilling.  A miscible flood project is to tentatively start when Barron Flats flood has plateaued in production.

 

  • Significant upside in unit redevelopment with horizontal production wells and miscible flooding

 

  • Third-party reserves auditor forecast gross production rate plateau of c.3,500 bbl/d to 4,000 bbl/d under the 2P reserves case starting in 2026.  Additional production increases from a miscible flood project would be in addition to this.

17 cased oil wells

4,000 bbl/d

Barron Flats Unit

  • Current production c.1,450 bbl/d (gross) with a forecast rise to 5,000 bbl/d in 2023 (based on 2P reserves forecast predictions).  Reservoir simulation work suggests that additional production rates may be obtained through increased gas injection rates, proper miscible flood management and a successful development drilling program.

 

  • Federal Unit (Deep) (55.56% WI): 24,650 gross acres – significant upside in deeper horizons with horizontal wells

Firm

Alternative Resource Capital Hannam & Partners
Tennyson Securities

Location

London, UK
London, UK
London, UK