Canadian Overseas Petroleum Ltd Announces Board Changes

COPL Announces Board Changes

CALGARY, AB / ACCESSWIRE / November 7, 2023 / Canadian Overseas Petroleum Limited and its affiliates ("COPL" or the "Company") (CSE:XOP) & (LSE:COPL), an international oil and gas exploration, production and development company, with operations focused in Converse and Natrona Counties, Wyoming, USA, announces changes to its Board of Directors (the ""Board").

The Company is pleased to announce, Mr. Atul Gupta has been appointed as a Non-Executive Director effective 2 ^nd November, 2023. Mr. Gupta will assume the role of chairman of the Nomination committee and the Reserves committee and will sit on the Audit committee. He will serve until his re-election at the Company's Annual and Special Meeting in 2024.

Mr. Gupta is a petroleum engineer with over 40 years of experience in the oil and gas sector. Mr. Gupta has been Executive Chairman for Nostrum Oil & Gas Plc, Chairman for Seven Energy International Ltd., Managing Director at Hindustan Oil Exploration Co., Ltd., Principal at Petrofina SA, Principal at Charterhouse Petroleum Plc, Chief Executive Officer of Burren Energy Plc and Principal at Monument LLC. Mr. Gupta has a degree in Chemical Engineering from the University of Cambridge and a degree in Petroleum Engineering from Heriot-Watt University.

COPL also announces that Mr. Robert Chenery has stepped down from his role as director after 19 months on the Board. The Company wishes to thank Mr. Chenery for his service and contribution to the Company.

Thomas Richardson, Chairman, commented: "I am delighted that Atul has agreed to join the Board. He brings very valuable experience across multiple skill sets including reservoir engineering. Understanding the dynamic nature of the BFU reservoir has been our biggest challenge to date. I am very grateful to Bob for all his time and work on the Board."

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.