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London, United Kingdom; Calgary, Canada: January 4, 2024 - Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration, production and development company with operations focused in Converse and Natrona counties, Wyoming, USA, announces the issuance of 305,598,679 common shares pursuant to the share settlement option exercised by a Bondholder for settlement of $1.1 million of Conversion Payment amounts (and related accrued interest) due pursuant to previously converted 2027 Bonds and 2028 Bonds. The number of common shares issued for settlement of these Conversion Payments is based on the lowest 5-day VWAP following election of the share settlement option for the Conversion Payments.
So
305 Million Shares …Into ….$1.1 Million Dollars…..Converted Into …£ Pounds ….= ???
Now Selling For 0.009 - 0.0095
Current ….1 Billion
New ……1.3 Billion
New Warrants …..1.3 Billion
Bonds ……… 11 Billion ….
Plus Quite A Few …..Billion ….For The Recalculated Old Warrants ….
All Ball Park Calcs …..Would Others Say That’s A Fair Summary ….