Canadian Overseas Petroleum Ltd Listing on the Canadian Securities Exchange (7077F)
October 30 2018 - 6:10AM
UK Regulatory
TIDMCOPL
RNS Number : 7077F
Canadian Overseas Petroleum Ltd
30 October 2018
Canadian Overseas Petroleum Limited Announces Listing on the
Canadian Securities Exchange and Delisting from the TSX Venture
Exchange
Calgary, Canada, October 30, 2018 - Canadian Overseas Petroleum
Limited (the "Company") (TSXV: XOP; LSE: COPL), is pleased to
announce that its common shares will be delisted from the TSX
Venture Exchange ("TSX-V") after the close of trading on October
30, 2018 and will be listed on the Canadian Securities Exchange
("CSE") commencing on the open of trading on October 31, 2018. The
Company will trade under the symbol "XOP" on the CSE.
About Canadian Overseas Petroleum Limited
The Company is actively pursuing opportunities in Nigeria and
sub-Saharan Africa in partnership with Shoreline Energy
International Limited ("Shoreline") as part of its strategy to
generate stable cash flow from secure offshore and onshore assets.
The Company and Shoreline, through their jointly-held affiliated
company Shoreline Canadian Overseas Petroleum Development
Corporation ("ShoreCan"), have acquired 80% of the share capital,
and have taken over the management of Essar Exploration and
Production Limited (Nigeria) ("Essar Nigeria"). ShoreCan has
applied to the concessionaire NNPC for formal consent for the
change in control of Essar Nigeria. Essar Nigeria holds an
attractive oil appraisal and development project in shallow to
mid-water offshore Nigeria on its 100% holding in OPL 226. Drilling
of the first appraisal well is planned to commence in 2018.
ShoreCan continues building a portfolio of exploration and
development assets in sub-Saharan Africa. To date, ShoreCan has
taken a position in Nigeria and the Company and Shoreline have been
awarded the PT-5b exploration license onshore Mozambique in the
5(th) Licensing Round adjacent to the producing PandeTemane Gas and
light oil field complex.
The Common Shares are listed under the symbol "COPL" on the
London Stock Exchange.
Mr. Arthur Millholland, President & CEO
Canadian Overseas Petroleum Limited
Tel: + 1 (403) 262 5441
Cathy Hume
CHF Investor Relations
Tel: +1 (416) 868 1079 ext. 231
Email: cathy@chfir.com
Harriet Jackson/Charles Goodwin
Yellow Jersey PR Limited
Tel: +44 (0) 75 4427 5882
Email: copl@yellowjerseypr.com
Broker: London Stock Exchange
Shore Capital Stockbrokers Limited
Edward Mansfield / Mark Percy
Tel: +44 20 7408 4090
Forward-Looking Statements
This press release may contain forward-looking statements under
applicable securities legislation. Forward-looking information in
this press release may include, but is not limited to, statements
about the anticipated delisting from the TSXV and listing on the
CSE. The forward-looking statements in this press release are based
on the Company's current expectations and assumptions as to a
number of factors including regulatory approvals. If those
expectations and assumptions prove to be incorrect, or factors
change, then actual results could differ materially from the
forward-looking statements contained in this press release.
Generally, statements included in this press release that
address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Such forward-looking statements
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control. The Company's
actual results, performance or achievement could differ materially
from those expressed in, or implied by, these forward-looking
statements will transpire or occur, or if any of them do so, what
benefits, including the amounts of proceeds, which the Company will
derive therefrom. Such statements are based on assumptions made by
the Company based on its experience, perception of historical
trends, current conditions, expected future developments and other
factors it believes are appropriate in the circumstances.
The forward--looking statements contained in this press release
are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward--looking
information, whether as a result of new information, future events
or otherwise, unless required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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