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COPL enjoying renewed confidence in its Nigeria project as financing talks advance

Arthur Millholland, chief executive of Canadian Overseas Petroleum Limited (LON:COPL) tells Proactive London's Andrew Scott he hopes to complete financing for an appraisal drilling programme at OPL226 in Nigeria by the middle of 2019.

He adds that talks are underway with three large groups that can provide both oil services and finance.

COPL's looking to arrange project finance of US$100mln and equity of a further US$20mln

Quick facts: Canadian Overseas Petroleum Limited

Price: 0.235 GBX

LSE:COPL
Market: LSE
Market Cap: £8.19 m
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Canadian Overseas Petroleum CEO details terms of its new £2mln equity funding

Canadian Overseas Petroleum Limited's (LON:COPL) (CSE:XOP) Arthur Millholland discusses with Proactive London's Andrew Scott some of the detail of its £2mln equity-based funding facility with Yorkville and Riverfort. He says the funding is significant for them as it can give confidence to...

on 1/5/20

2 min read