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viewCanadian Overseas Petroleum Limited

Canadian Overseas Petroleum seize the opportunity to snap up Atomic Oil & Gas

Canadian Overseas Petroleum Limited's (LON:COPL) Arthur Milholland talks to Proactive London about their 'game changing' acquisition of Atomic Oil & Gas LLC.

The transaction has a reported deal value of US$54mln - comprising a US$1mln deposit, US$26mln of assumed debt, US$23mln of debt and cash payments, plus US$4mln in shares.

Milholland believes that in just twelve months daily output will exceed 5000 barrels a day, from 400 barrels a day. 

He goes on to say Canadian Overseas Petroleum is the 'most liquid stock on the London Stock Exchange'.

Quick facts: Canadian Overseas Petroleum Limited

Price: 0.3425 GBX

LSE:COPL
Market: LSE
Market Cap: £33.08 m
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Canadian Overseas Petroleum hails 'exceptional' move to accelerate...

Canadian Overseas Petroleum Ltd's (LON:COPL) Arthur Millholland talks Proactive London through the inked a term sheet for US$65mln of debt financing that will facilitate its acquisition of US onshore producer Atomic Oil and Gas LLC. The arrangement, for a senior credit facility, is with a...

on 21/1/21

2 min read