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Calgary, Canada, April 3, 2020 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an international oil and gas exploration and development company focused on sub-Sahara Africa, today provides further details and clarification regarding its latest decision to defer filings following a temporary relief granted by the Canadian Securities Administrators in light of the coronavirus, as stated in the Press Release dated March 27, 2020.
A full list of filings that have been delayed includes: 2019 Year-End Financial Statements and MD&A, AIF, CEO & CFO Certifications; Q1 2020 Interim Financial Statements and MD&A, CEO & CFO Certifications. The delay results from measures related to the COVID- 19 outbreak such as mandatory self-isolation, which prevented the auditors from completing audit field work and required the COPL team to start working from home and to obtain remote access to the Company’s records and documents.
Material news that happened since the time of the Company’s last filings include a secured loan facility from the CEO, as announced in the Press Release dated February 21, 2020.
The Company’s management and other insiders are subject to an insider trading black- out due to the extended period of the Company’s regulatory filings.
COPL expects to file its 2019 Year-End filings on or around May 12, 2020, and Q1 2020 interim filings on or around June 23, 2020.
Bought in. Hoping to recover some losses from copl.
Confirmation that the hearing for planning will go ahead on 24th March 2020.
https://westsussex.planning-register.co.uk/Document/Download?module=PLA&recordNumber=1635&planId=50257&imageId=634&isPlan=False&fileName=Extension%20of%20Time%20agreement.pdf
Guitar1970 do you think the slump in the oil price will have a negative effect of copl achieiving the funding? I would imagine whatever happens now with oil (and it could go to low 30’s) it will be back up at 60 or 70 by the end of 2020.