CALGARY, Nov. 18, 2011 /CNW/ - Canadian Overseas Petroleum Limited
("COPL" or the "Company") (XOP: TSX-V) announces its third quarter
results for the three and nine months ended September 30, 2011.
Company highlights for the quarter contained in the report include the
The oil discovery at the Esperanza exploration prospect subsequent to
the end of the quarter.
The Asset Acquisition Agreement signed subsequent to the end of the
quarter with ExxonMobil for a 70% equity interest in Block LB-13
The receipt of an independent Gross Prospective Oil Resources report
identifying a PMean 2.489 billion barrels for a number of targets combined in Block LB-13
The oil discovery at the Fulla exploration prospect in the West of
Shetlands region of the UK Atlantic Margin.
Cash and cash equivalents of $88.3 million as at September 30, 2011.
The Interim Financial Statements and Management's Discussion and
Analysis for the third quarter can be viewed on the Company's website
at www.canoverseas.com or on SEDAR at www.sedar.com under the COPL listing.
About the Company
COPL is an oil and gas exploration company focused in the UK North Sea
and the offshore Liberian continental margin. COPL's Common Shares are
listed under the symbol "XOP" on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canadian Overseas Petroleum Limited
For further information:
Mr. Arthur Millholland, President and CEO
Rob Elgie, Manager of Investor Relations
Pelham Bell Pottinger Public Relations
James Henderson, Managing Director or Mark Antelme
Phone: +44 (0) 207 861 3160