COPL, Shoreline focused on finance for OPL 226

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.”

Source: COPL



Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...