REG - Canadian O'Seas Petr - Appointment of Nigel Little as NED

Canadian Overseas PetroleumAnnouncement

06/12/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211206:nRSF5975Ua&default-theme=true

RNS Number : 5975U  Canadian Overseas Petroleum Ltd  06 December 2021

 

 

Appointment of Nigel Little as Non-Executive Director

London, United Kingdom; Calgary, Canada: December 6, 2021 - Canadian Overseas
Petroleum Limited ("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 County, Wyoming,
USA, is pleased to announce the appointment of Mr. Nigel Little as Independent
Non-Executive Director. He replaces Viscount William Astor who will step down
from the board with immediate effect after six years.

 

The board would like to thank Viscount Astor for his significant contribution
to the development of the Company.

 

Nigel Little has a distinguished career as an investment banker spanning more
than forty years. Until 2009 Nigel was Vice-Chairman of Canaccord Capital
(Europe) Limited as well as Executive President of the investment bank's UK
and European operations - a position that he held for seven years. As a
leading investment banker and specialist in the natural resources and energy
sectors, Nigel has significant experience in the oil and gas equities markets,
having been involved with capital raises for a large number of UK and
international oil and gas companies.

 

Nigel's long financial service career includes senior roles at HSBC James
Capel where he was Head of Equity Sales and a Senior Executive, Morgan Stanley
as Head of Pan-European Equity Distribution and Nations Bank Panmure where he
was Head of Sales and Trading. He was also Head of Downstream Investment
Banking at Nomura, an Advisory Board member of Kleinwort Benson Bankers and a
member of its Private Equity team, and a Senior Advisor to Smith &
Williamson Corporate Finance.

 

Arthur Millholland, President & CEO, commented: "I would like to thank
Viscount William Astor for his dedication and efforts during the last six
years that made a tangible difference to COPL. His contribution during the
last year in particular has been invaluable, when he was willing to stay with
the Company beyond his planned five-year tenure, as we have successfully
bedded-in the transformative Atomic acquisition.

 

"We are delighted to have someone of Nigel's calibre joining our board as he
brings a wealth of oil and gas and public-company markets experience to the
fore. As announced last week, COPL is now operating in a position of great
strength with an increasing oil production rate at our Wyoming assets and we
look to the future with confidence."

 

Nigel Little, Non-Executive Director of COPL, said: "It is clear to me that
the Company is embarking on a very exciting period of growth with proven and
unproven reserves ready to be exploited by the highly-efficient and
sustainable facility in Wyoming. With bright prospects and the opportunity for
a re-rating of the stock there couldn't be a better time to join the Company
and share my insights and expertise."

 

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 County 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) 75 4427 5882

Email: copl@yellowjerseypr.com

 

Peter Krens

Joint Broker

Equity Capital Markets, Tennyson Securities

Tel: +44 (0) 20 7186 9033

Email: peter.krens@tennysonsecurities.co.uk
(mailto:peter.krens@tennysonsecurities.co.uk)

 

Alex Wood & Keith Dowsing

Joint Broker

Alternative Resource Capital

AW: +44 (0) 7559 910872

KD: +44 (0) 7559 910873

www.altrescap.com
(https://us-west-2.protection.sophos.com?d=altrescap.com&u=aHR0cDovL3d3dy5hbHRyZXNjYXAuY29tLw==&i=NjE3MTkwZjFlOWZkN2MxMDRiMmJjZDlk&t=dUdUb2l6NmlZbVdyQnJiRHRkRGRIN0NJbDh3Ym04ODZiU3hkRVdjU0RaZz0=&h=00028df708b54f3cb998e141d5e49985)

 

Andrew Chubb / Neil Passmore

Hannam & Partners

+44 (0) 20 7907 8500

 

 

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.

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAFFFIIFSLEIIL