Canadian Overseas Petroleum Limited (“COPL” or the “Company”) (XOP: CSE) & (COPL: LSE), an international oil and gas exploration and development company focused on offshore Africa, announces the filing of the third quarter results ending September 30, 2018.
During the third quarter of 2018, the Company had been working towards advancing its financing activities together with its joint venture partner Shoreline Energy and its investment bankers. Subsequently, towards the end of the quarter, ShoreCan entered into discussions with a second large oil service provider, with activities in West Coast Africa.
Arthur Millholland, President & CEO, commented:
“We are delighted to have been approached by another large oil service provider, which is very familiar with the region. Not only are they offering the provision of services, but also financing. This level of interest reaffirms our long-term view that OPL226 is an attractive opportunity with significant upside potential.
“As for the Essar dispute, widely discussed by our shareholders, we continue to stand firm that it has no merit as the 60-day actionable period has lapsed. ShoreCan and its 80%-owned Essar Nigeria partner are successfully advancing its financing and operational activities in Nigeria.”