£2.5 million Common Share Offering

CALGARY, CANADA / ACCESSWIRE / October 2, 2017 / Canadian Overseas Petroleum Limited (the “Company”) (TSX-V: XOP; LSE: COPL), is pleased to announce an offering of common shares in the capital of the Company to raise gross proceeds of £2.5 million (the “Placing”), pursuant to which the Company will issue 250,000,000 new common shares (“Placing Shares”) to UK investors at a price of 1 penny (£0.01) per Placing Share.

The Company intends to use the net proceeds of the Placing to fund the Company’s on-going general and administrative expenses which principally covers a full technical team including geologists, a geophysicist, reservoir engineers, a drilling engineer and in-house counsel, which are approximately US$410,000 per month, as the Company seeks to progress its projects in West Africa.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/3416S_1-2017-10-2.pdf

For further information, please contact:

Mr. Arthur Millholland, President & CEO
Canadian Overseas Petroleum Limited
Tel: + 1 (403) 262 5441

Cathy Hume
CHF Investor Relations
Tel: +1 (416) 868 1079 ext. 231
Email: cathy@chfir.com

Harriet Jackson/Charles Goodwin
Yellow Jersey PR
Tel: +44 (0) 75 4427 5882
Email: copl@yellowjerseypr.com

Broker: London Stock Exchange
Shore Capital Stockbrokers Limited
Edward Mansfield
Phone: T: +44 20 7468 7906

SOURCE: Canadian Overseas Petroleum Limited

ReleaseID: 476762