The new funds will help bridge the financial gap until the company can conclude its project financing plans, said chief executive Arthur Millholland.
In May it said it had conditionally agreed a package worth up US$50mln that would help it exploit the oil potential OPL 226 offshore Nigeria.
COPL and its local partner wants to bring three to four wells into production by the end of next year at rates of 6-10,000 barrels of crude per day.
“Together with our joint venture partner we continue to be focused on concluding the placement of the OPL 226 performance bond by our Nigerian affiliate and progressing the operational plan for the commencement of operations. As previously indicated, once the Performance Bond is in place, we can commence operations in earnest," said CEO Millholland in an update on its progress towards its near-term goal.