Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXF) shares recent switchback ride swung up again as it confirmed it expects to close an equity financing announced in December next week on the terms disclosed.
“The company is not aware of any operational or corporate reason for the price movement,” it added in a brief statement, sending the share price rocketing up by 156% to 0.1p.