Canadian Overseas Petroleum Ltd Announces Conversion of Bonds & Share Issuances
LONDON, UK and CALGARY, AB / ACCESSWIRE / July 18, 2023 / Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP:CSE) & (COPL:LSE), an international oil and gas exploration, production and development company with …
LONDON, UK and CALGARY, AB / ACCESSWIRE / July 18, 2023 / Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (XOP:CSE) & (COPL:LSE), 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 it will issue 72,472,335 common shares on 21 July 2023 pursuant to the share settlement option exercised by a Bondholder for settlement of $1.7 million of Conversion Payment amounts (and related accrued interest) due pursuant to previously converted 2028 Bonds. The number of Shares issued for settlement of these Conversion Payments is based on the lowest 5-day VWAP following election of the share settlement option for the Conversion Payments.
Following these issuances of common shares, the Company has a total of 680,828,895 common shares issued and outstanding. There are no common shares held in treasury and therefore the total number of voting rights in the Company is 680,828,895. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Applications will be made for these common shares to be admitted to the FCA's Official List and to trading on the London Stock Exchange's main market for listed securities within the next twelve months, in accordance with Listing Rule 14.3.4.
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 Wyoming.
The Company operates the Cole Creek Unit 100% WI, Barron Flats Shannon (Miscible) Unit 85% WI and holds Barron Flats Federal (Deep) 85% WI in addition to non-unitized lands 100% WI.
The Company's Wyoming operations are one of the most environmentally responsible with minimal gas flaring and methane emissions combined with electricity sourced from a neighbouring wind farm to power production facilities.
Lesen Sie auch
For further information, please contact:
Mr. Arthur Millholland, President & CEO
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