TIDMCOPL
RNS Number : 6253O
Canadian Overseas Petroleum Ltd
01 February 2023
Prospectus Approval & Admission to Trading
London, United Kingdom; Calgary, Canada: February 1, 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, is pleased to announce the approval
of a prospectus (the "Prospectus") by the UK Listing Authority in
accordance with Article 3(3) of the Prospectus Regulation. The
Prospectus is available for viewing on the Company's website has
been approved by the UK Listing Authority and is available for
viewing on the Company's website https://www.canoverseas.com/ , and
at the National Storage Mechanism via
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
The Prospectus has been approved in connection with an
application to be made shortly for the admission (the "New Shares
Admission") to the standard listing segment of the Official List,
and to trading on the London Stock Exchange's main market for
listed securities of 113,589,348 common shares of no par value in
the capital of the Company (the "New Shares") that have been issued
since December 2021. The New Shares Admission is expected to become
effective at 8:00 am (London time) on or around 7 February
2023.
The Company has a total of 277,858,812 common shares issued and
outstanding including the New Shares. There are no Common Shares
held in treasury and therefore the total number of voting rights in
the Company is 277,858,812. This figure may be used by shareholders
in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the share capital of the
Company under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities in the United
States, nor shall there be any sale of the New Shares in any
jurisdiction in which such offer, solicitation or sale may be
unlawful. The New Shares have not been and will not be registered
under the 1933 Act or any U.S. state securities laws and may not be
offered or sold in the United States absent registration under the
1933 Act or an applicable exemption from the registration
requirements of the 1933 Act and applicable U.S. state securities
laws.
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 Converse and Natrona Counties
Wyoming, and in sub-Saharan Africa through its ShoreCan joint
venture company in Nigeria, and independently in other
countries.
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. Arthur Millholland, President & 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
The Common Shares are listed under the symbol "XOP" on the CSE
and under the symbol "COPL" on the London Stock Exchange.
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 and assumptions made by the Company, including,
but not limited to, the ability to raise the necessary funding for
operations, delays or changes in plans with respect to exploration
or development projects or capital expenditures. Although the
Company believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements since the
Company can give no assurance that they will prove to be correct
since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties most of which are beyond the control of Canadian
Overseas Petroleum Ltd. For example, the uncertainty of reserve
estimates, the uncertainty of estimates and projections relating to
production, cost overruns, health and safety issues, political and
environmental risks, commodity price and exchange rate
fluctuations, changes in legislation affecting the oil and gas
industry could cause actual results to vary materially from those
expressed or implied by the forward-looking information.
Forward-looking statements contained in this news release are made
as of the date hereof and Canadian Overseas Petroleum undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
Neither the CSE nor its regulation services provider accepts
responsibility for the adequacy or accuracy of this release.
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