SOURCE: Canadian Overseas Petroleum Ltd

November 16, 2015 07:26 ET

Canadian Overseas Petroleum Limited: Board Addition

CALGARY, AB--(Marketwired - Nov 16, 2015) -  Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX VENTURE: XOP) (LSE: COPL), announces that Mr. John F. Cowan, has joined the Board of Directors effective November 10, 2015. Mr. Cowan, a petroleum geologist, was been involved in the Canadian oil and gas industry for 38 years. In this period he has founded two Canadian junior exploration and production companies. Currently Mr. Cowan is a director of Dundee Energy Ltd, a TSX listed Canadian oil and gas company, and a founding shareholder of Xtivity Inc. a closely held Web Architected, Maintenance Inventory Optimization firm with a Fortune 100 client base.

About COPL

COPL is an international oil and gas exploration and development company focused in the offshore West Africa. The Company holds a 17% working interest in Block LB-13, offshore Liberia, with ExxonMobil the operator holding an 83% working interest. COPL is actively pursuing opportunities in Nigeria in partnership with Shoreline Energy as part of its strategy to generate stable cash flow from secure offshore assets. The Company and Shoreline through their jointly held affiliated company, Shoreline Canadian Overseas Petroleum Development Corporation ("Shorecan") are currently seeking Government of Nigeria approval for the acquisition of 80% of a Nigerian corporation holding an attractive oil appraisal and development project in mid water offshore Nigeria.

ShoreCan is building a portfolio of exploration and development assets in sub-Saharan Africa. To date, ShoreCan has taken a position in Nigeria, Namibia and an option to take a position in Tanzania. It continues to evaluate a variety of assets in Nigeria, Equatorial Guinea.

COPL's Common Shares are listed under the symbol "XOP" on the TSXV and under the symbol "COPL" on the London Stock Exchange.

For further information on Canadian Overseas Petroleum, please link here: http://canoverseas.com/

For further information about Shoreline Energy, please link here: http://www.shoreline-group.com/

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.

Contact Information

  • For Further Information Please Contact:

    Arthur Millholland
    President and CEO
    Phone: + 1 403 262 5441

    Investor and Public Relations

    Bell Pottinger
    Henry Lerwill
    +44 (0) 203 772 2570
    North America Toll Free: +1 866 834 8330

    CHF Investor Relations
    Cathy Hume
    +1 (416) 868 1079 ext. 231
    Toll Free: +1 877 838 1079

    Joint Brokers

    GMP Securities Europe
    Phone: +44 (0)20 7647 2800

    finnCap
    Phone: +44 (0)20 7220 0500