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Canadian Overseas Petroleum Ltd - International oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming - Confirms that it has received USD4 million, at 2.6 pence per share, to conclude the financing announced on October 6. As part of its liquidity management and in conjunction with the terms of the financing, Canadian Overseas Petroleum says that it will be settling amounts owed to various creditors in shares over the coming weeks.
On October 6, the company said that it had raised more equity investment than expected but at a much lower price than originally planned, following a share price tumble over the past month. At the time, it said it had received a USD4.0 million equity investment, all from Anavio Capital Partners LLP, at 2.6p per share. At the beginning of September, the company had said it would receive just USD3.5 million from Anavio, but at 4p per share.
Current stock price: 1.95 pence
12-month change: down 87%
By Holly Beveridge, Alliance News reporter
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