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Canadian Overseas Petrol... (LSE:COPL)
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Friday 13 October 2023
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TIDMCOPL
RNS Number : 0055Q
Canadian Overseas Petroleum Ltd
13 October 2023
COPL Announces Closing of Financing
London, United Kingdom; Calgary, Canada: October 13, 2023 - 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 production and development operations focused in Converse and Natrona counties, Wyoming, USA, COPL confirms the receipt of US$4m at 2.6p to conclude the financing announced on October 6, 2023. As part of the Company's liquidity management and in conjunction with the terms of the financing COPL will be settling amounts owed to various creditors in shares over the coming weeks.
About the Company:
COPL is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States with operations in Wyoming.
The Company operates the Cole Creek Unit 100% WI, Barron Flats Shannon (Miscible) Unit 85% WI and holds Barron Flats Federal (Deep) 85% WI in addition to non-unitized lands 100% WI.
The Company's Wyoming operations are one of the most environmentally responsible with minimal gas flaring and methane emissions combined with electricity sourced from a neighbouring wind farm to power production facilities.
For further information, please contact:
Mr. Tom Richardson, Chairman
Mr. John Cowan, CEO
Mr. Ryan Gaffney, CFO
Canadian Overseas Petroleum Limited
Tel: + 1 (403) 262 5441
Cathy Hume
CHF Investor Relations
Tel: +1 (416) 868 1079 ext. 251
Email : cathy@chfir.com
Charles Goodwin
Yellow Jersey PR Limited
Tel: +44 (0) 77 4778 8221
Email : copl@yellowjerseypr.com
Neil Passmore / Mario Doerflinger
Financial Advisor/Joint Broker
Hannam & Partners
+44 (0) 20 7907 8500
Email: njp@hannam.partners / md@hannam.partners
Peter Krens
Joint Broker
Equity Capital Markets, Tennyson Securities
Tel: +44 (0) 20 7186 9033
Alex Wood & Keith Dowsing
Joint Broker
Alternative Resource Capital
AW: +44 (0) 7559 910872
KD: +44 (0) 7559 910873
The Common Shares are listed under the symbol "XOP" on the CSE and under the symbol "COPL" on the London Stock Exchange.
All $ figures are United States Dollars unless otherwise noted.
Caution regarding forward looking statements
This news release contains forward-looking statements. The use of any of the words "initial, "scheduled", "can", "will", "prior to", "estimate", "anticipate", "believe", "should", "forecast", "future", "continue", "may", "expect", and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations
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