CALGARY, AB--(Marketwired - Nov 23, 2016) - Canadian Overseas Petroleum Ltd (
TSX-V: XOP
Mesurado-1 Well Commences Drilling Operations
Calgary, Canada, November 23, 2016 - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (
The Company's 100% owned subsidiary, Canadian Overseas Petroleum (Bermuda) Limited, holds a 17 percent interest in Block LB-13.
About the Company:
The Company is an international oil and gas exploration and development company focused in 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, where the drilling of a deep-water exploration well commenced in November 2016. The Company is also 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 the share capital of Essar Exploration and Production Limited (Nigeria) which holds 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. It continues to evaluate a variety of additional assets in Nigeria, and Equatorial Guinea.
The Common Shares are listed under the symbol "XOP" on the TSXV and under the symbol "COPL" on the London Stock Exchange.
Please click on the following link to view full announcement;
http://www.rns-pdf.londonstockexchange.com/rns/9504P_1-2016-11-23.pdf
Contact Information:
Contacts:
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com