CALGARY, CANADA / ACCESSWIRE / October 30, 2018 / Canadian Overseas Petroleum Limited (the "Company") (TSXV: XOP; LSE: COPL), is pleased to announce that its common shares will be delisted from the TSX Venture Exchange ("TSX-V") after the close of trading on October 30, 2018 and will be listed on the Canadian Securities Exchange ("CSE") commencing on the open of trading on October 31, 2018. The Company will trade under the symbol "XOP" on the CSE.
About Canadian Overseas Petroleum Limited
The Company is actively pursuing opportunities in Nigeria and sub-Saharan Africa in partnership with Shoreline Energy International Limited ("Shoreline") as part of its strategy to generate stable cash flow from secure offshore and onshore assets. The Company and Shoreline, through their jointly-held affiliated company Shoreline Canadian Overseas Petroleum Development Corporation ("ShoreCan"), have acquired 80% of the share capital, and have taken over the management of Essar Exploration and Production Limited (Nigeria) ("Essar Nigeria"). ShoreCan has applied to the concessionaire NNPC for formal consent for the change in control of Essar Nigeria. Essar Nigeria holds an attractive oil appraisal and development project in shallow to mid-water offshore Nigeria on its 100% holding in OPL 226. Drilling of the first appraisal well is planned to commence in 2018. ShoreCan continues building a portfolio of exploration and development assets in sub-Saharan Africa. To date, ShoreCan has taken a position in Nigeria and the Company and Shoreline have been awarded the PT-5b exploration license onshore Mozambique in the 5thLicensing Round adjacent to the producing PandeTemane Gas and light oil field complex.
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SOURCE: Canadian Overseas Petroleum Ltd