leadf
logo-loader
viewCanadian Overseas Petroleum Limited

Canadian Overseas Petroleum’s JV extends deadline to conclude documents for Essar dispute settlement

“We continue to look forward to the future working relationship with Essar to unlock the potential of OPL 226," said chief executive Arthur Millholland

Canadian Overseas Petroleum Limited - Canadian Overseas Petroleum’s JV extends deadline to conclude documents for Essar dispute settlement

Canadian Overseas Petroleum Limited (LON:COPL) announced that its joint venture in Nigeria has extended the deadline to conclude documentation for a settlement in the dispute with its partner Essar Exploration & Production.

An agreement was previously reached in principle and a new deadline of August 4, 2020, has now been set.

READ: COPL raises £1.3mln in placing

"With the commercial terms settled in the agreement in principle, the legal language over a number of agreements has largely been agreed upon,” Arthur Millholland, COPL chief executive said in a statement.

“Both parties continue to work amicably towards completion and have agreed to extend the backstop date for two weeks, but we both hope this will be wrapped up earlier than that. We continue to look forward to the future working relationship with Essar to unlock the potential of OPL 226," he added.

Quick facts: Canadian Overseas Petroleum Limited

Price: 0.295 GBX

LSE:COPL
Market: LSE
Market Cap: £10.28 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Canadian Overseas Petroleum Limited named herein, including the promotion by the Company of Canadian Overseas Petroleum Limited in any Content...

FOR OUR FULL DISCLAIMER CLICK HERE

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