REG - Canadian O'Seas Petr - President and CEO Stock Purchase

Canadian Overseas PetroleumAnnouncement

01/02/2022 07:00

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RNS Number : 2334A  Canadian Overseas Petroleum Ltd  01 February 2022

 

 

Canadian Overseas Petroleum

President and CEO Stock Purchase

London, United Kingdom; Calgary, Canada: February 1, 2022 - Canadian Overseas
Petroleum Limited ("COPL" or the "Company") (XOP: CSE) & (COPL: LSE), an
international oil and gas exploration, production and development company with
operations focused in Wyoming, USA, is pleased to announce "in market" share
purchases by Arthur Millholland, President and CEO.

 

Arthur Millholland, President and CEO has advised the Company of the purchase
of 665,000 shares of the Company through the facilities of the CSE at an
average price of $0.58/share, with settlement of the purchases occurring
between January 25(th) and January 28(th), 2022.

 

Arthur Millholland, President & CEO of COPL, commented:

 

"I am more than happy to purchase shares in the Company in the market when I
can. In fact, I had planned to purchase more but came up against a blackout
period today which extends to the filing of our annual results on March
30(th). This share purchase shows my confidence in the Company's recently
announced deep discovery, and the performance of our miscible flood at our
Barron Flats project in Wyoming."

 

"Insiders have limited opportunities to purchase their company shares in the
market due to the timing of regulatory blackout periods and unannounced market
sensitive information. Fortunately for me a quiet period end of January
allowed me to conduct these share purchases."

 

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 (mailto:cathy@chfir.com)

 

Charles Goodwin

Yellow Jersey PR Limited

Tel: +44 (0) 7747788221

Email: copl@yellowjerseypr.com (mailto:copl@yellowjerseypr.com)

 

Peter Krens

Equity Capital Markets, Tennyson Securities

Tel: +44 (0) 20 7186 9033

 

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

Advisors/Joint Brokers

Hannam & Partners

+44 (0) 20 7907 8500

 

Tony Loria/Kevin Leonard

Advisors

Eight Capital

TL: +1403-268-7433

KL: +1403-268-7428

 

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.

 

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