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Canadian Overseas Petroleum boss increases shareholding

Arthur Millholland now has about 2.5% of the company following his latest transactions.
Canadian Overseas Petroleum boss increases shareholding
He bought 1.12mln shares priced at 4.49 Canadian cents

Canadian Overseas Petroleum (LON:COPL, CVE:XOP) told investors that Arthur Millholland, president and chief executive, has increased his shareholding in the company.

Millholland bought 1.12mln shares priced at 4.49 Canadian cents on January 8, and as a result he now holds 11.86mln shares, which equates to about 2.5% of the company.

It marks the latest in a number of transactions; in December he bought a total of 5mln shares.

COPL holds a 17% working interest in Block LB-13, offshore Liberia, with ExxonMobil the operator holding an 83% working interest.

Also, with Shoreline, through a jointly held affiliated company, called Shorecan, it is currently seeking Government of Nigeria approval for the acquisition of 80% of a Nigerian corporation holding an attractive oil appraisal and development project in mid water, offshore Nigeria.

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