Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Canadian Overseas Petroleum in talks with large oil service provider

"This level of interest reaffirms our long-term view that OPL226 is an attractive opportunity with significant upside potential”
oil and gas operations
It is working to secure financing

Canadian Overseas Petroleum Limited (LON:COPL) told investors that it has entered into talks with a  second large oil service provider, with activities in West Coast Africa.

The company, as it filed third-quarter results, noted that it is continuing efforts towards advancing its financing activities together with its joint venture partner Shoreline Energy and its investment bankers.

READ: COPL raises £3mln in share placing

"We are delighted to have been approached by another large oil service provider, which is very familiar with the region,” said Arthur Millholland, COPL chief executive.

“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.”

Millholland added: "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."

View full COPL profile View Profile

Canadian Overseas Petroleum Limited Timeline

Newswire
August 17 2018

Related Articles

oil and gas operations
July 24 2018
Prospect S offshore Namibia is Chariot's next shot at a big target, drilling is slated for the fourth quarter this year and it will be closely watched by investors
Forest
October 23 2018
The company has ceased working the low-margin, high-risk wood fibre assets in Ukraine and is focused on its CoalSwitch technology and its forestry management business in Canada
picture of wind turbines
January 11 2018
The construction of more than 600 wind turbines was funded by securing US$1bn of financing during the year.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use