REG - Canadian O'Seas Petr - Prospectus Approval & Admission to Trading

Canadian Overseas PetroleumAnnouncement

01/02/2023 14:30

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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/ (https://www.canoverseas.com/) , and at the
National Storage Mechanism via
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(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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