COPL
Announces CEO Resignation
LONDON and CALGARY,
AB, Dec. 22, 2023 -- Canadian Overseas Petroleum Limited
("COPL" or the "Company") (CSE:
XOP) & (LSE: COPL), an international oil and gas exploration,
production and development company with production and development
operations focused in Converse and
Natrona Counties, Wyoming, USA, announces that John Cowan has resigned as the Chief Executive
Officer of the Company but will remain on the board of directors of
the Company for the time being while a replacement is
found.
About the Company:
COPL is an international oil and gas exploration,
development and production company actively pursuing opportunities
in the United States with
operations in Converse County
Wyoming.
The Common Shares are listed under the symbol "XOP" on the
CSE and under the symbol "COPL" on the London Stock
Exchange.
Market Abuse Regulation
disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended
("MAR") encompassing information relating to the Placing described
above, and is disclosed in accordance with the Company's
obligations under Article 17 of MAR. In addition, market soundings
(as defined in MAR) were taken in respect of the Placing with the
result that certain persons became aware of inside information (as
defined in MAR), as permitted by MAR. This inside information is
set out in this Announcement. Therefore, upon publication of this
announcement, those persons that received such inside information
in a market sounding are no longer in possession of such inside
information relating to the Company and its
securities.
Caution regarding forward looking
statements
This news release contains forward-looking statements.
The use of any of the words "initial, "scheduled", "can", "will",
"prior to", "estimate", "anticipate", "believe", "should",
"forecast", "future", "continue", "may", "expect", and similar
expressions are intended to identify forward-looking statements.
The forward-looking statements contained herein are based on
certain key expectations and assumptions made by the Company,
including, but not limited to, the ability to raise the necessary
funding for operations, delays or changes in plans with respect to
exploration or development projects or capital expenditures.
Although the Company believes that the expectations and assumptions
on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements since the Company can give no assurance that they will
prove to be correct since forward-looking statements address future
events and conditions, by their very nature they involve inherent
risks and uncertainties most of which are beyond the control of
Canadian Overseas Petroleum Ltd. For example, the uncertainty of
reserve estimates, the uncertainty of estimates and projections
relating to production, cost overruns, health and safety issues,
political and environmental risks, commodity price and exchange
rate fluctuations, changes in legislation affecting the oil and gas
industry could cause actual results to vary materially from those
expressed or implied by the forward-looking information.
Forward-looking statements contained in this news release are
made as of the date hereof and Canadian Overseas Petroleum
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
This announcement has been issued by and is the sole
responsibility of the Company. No representation or warranty,
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by the
Company (apart from the responsibilities or liabilities that may be
imposed by the Financial Services and Markets Act 2000, or the
regulatory regime established thereunder) or by any of its
affiliates or agents as to, or in relation to, the accuracy or
completeness of this announcement or any other written or oral
information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
Mr. Tom Richardson,
Chairman, Mr. Ryan Gaffney, CFO,
Canadian Overseas Petroleum Limited, Tel: + 1 (403) 262 5441;
Cathy Hume, CHF Investor Relations,
Tel: +1 (416) 868 1079 ext. 251, Email: cathy@chfir.com;
Charles Goodwin, Yellow Jersey PR
Limited, Tel: +44 (0) 77 4778 8221, Email:
copl@yellowjerseypr.com