Canadian Overseas Petroleum (LON:COPL, CVE:XOP) continues to work with ExxonMobil for the planning of future drilling in Liberia.
The potential expansion of the group’s portfolio in sub-Saharan Africa is another focus of the company in the near-term, as it works to complete a deal for projects in Tanzania, Namibia, Nigeria, Ghana, Equatorial Guinea and Mozambique.
COPL in February announced a tie-up with African oil firm Shoreline Energy, and the joint venture has been progressing a pipeline of opportunities.
The Africa focussed pre-revenue explorer this morning reported a $2.1mln loss for the first quarter of 2015, and said it had $2.5mln of cash and equivalents as at March 31.