leadf
logo-loader
viewCanadian Overseas Petroleum Limited

COPL refinanced after share price soars, posts quarterly results

COPL has refinanced itself through two placings to raise £1.2mln

Canadian Overseas Petroleum Limited -

Canadian Overseas Petroleum Limited (LON:COPL) has reported a loss of US$301,00 in the three months to March 31, 2020, and ended the period with cash resources of US$0.05mln.

Since May, however, COPL's share price has risen nine-fold as the junior oiler reached a settlement in principle with partner Essar in their dispute over the OPL 226 licence offshore Nigeria, with the company now carried on an appraisal well.

COPL has also refinanced itself through two placings to raise £1.2mln in addition to a US$2mln equity funding facility.

 

 

Quick facts: Canadian Overseas Petroleum Limited

Price: 0.235 GBX

LSE:COPL
Market: LSE
Market Cap: £8.19 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Canadian Overseas Petroleum Limited named herein, including the promotion by the Company of Canadian Overseas Petroleum Limited in any Content...

FOR OUR FULL DISCLAIMER CLICK HERE

Canadian Overseas Petroleum CEO details terms of its new £2mln equity funding

Canadian Overseas Petroleum Limited's (LON:COPL) (CSE:XOP) Arthur Millholland discusses with Proactive London's Andrew Scott some of the detail of its £2mln equity-based funding facility with Yorkville and Riverfort. He says the funding is significant for them as it can give confidence to...

on 1/5/20

2 min read