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Unfair call for removal of the Energy Minister

Unfair call for removal of the Energy Minister
Wednesday 30 December 2020
THE EDITOR: I read a recent newspaper article which I thought contained unfair criticism of Minister of Energy Franklin Khan. After citing a number of facts, the writer called for the resignation of the minister.
However, it became very apparent that these justifications were shaky at best and the writer omitted a significant amount of other information which would have provided the reader with a wider perspective.
The article hinges its argument on an apparent decline in natural gas and crude oil production which currently stands at 3.2 billion cubic feet per day (bcf p/d), as compared to 3.3 bcf p/d in 2016 when the minister assumed office. ....

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Acquisition of Atomic Oil & Gas LLC, 16 Dec 2020 01:00

· Two operated oil fields in Wyoming, USA at start of their 40+ year life
· ROI over 50% with $2.18/bbl acquisition cost vs a value of $7.52/bbl at NPV (10%)

Calgary, Canada; London, United Kingdom; December 16, 2020 - Canadian Overseas Petroleum Limited ( COPL or the Company ) (XOP: CSE) & (COPL: LSE), an international oil and gas exploration and development company, today announces that it has agreed to acquire Atomic Oil & Gas LLC ( Atomic ) for a consideration of US$54 million consisting of assumed debt, cash and shares. This strategic acquisition would represent a step change in the capacity and revenue generating opportunities open to the Company. COPL expects to complete the acquisition by January 31, 2021, with a long stop date in the agreement of 90 days from execution. The effective date of the transaction is December 1, 2020. ....

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