Canadian Overseas Petroleum Ltd Announces Appointment of Non-Executive Director

COPL Appoints Robert J. Chenery as Non-Executive Director

LONDON, UK and CALGARY, AB/ACCESSWIRE/April 27, 2022/ Canadian Overseas Petroleum Limited (“COPL” or the “Company”) XOPCOPLan international oil and gas exploration, production and development company with production and development operations concentrated in Converse and Natrona counties, Wyoming, USA, is pleased to announce the appointment of Mr. Robert J. Chenery as independent non-executive director effective April 1, 2022.

Mr. Chenery has worked in the oil and natural gas industry for over 50 years. Since 1981, Mr. Chenery has been President of Chenery Dobson Resource Management Ltd, a company specializing in the evaluation and management of oil and gas assets primarily controlled by investors, banks and other financial institutions. Additionally, on behalf of some of the same clients, Mr. Chenery has served as CEO and/or Chairman of the Board of several junior oil and gas companies. Prior to 1981, Mr. Chenery was a member of the management team of Groupe Elf/Aquitaine in Canada. Academic qualifications include a Bachelor of Science in Geological Engineering and a Masters in Business Administration. Mr. Chenery is also a member in good standing of the Association of Professional Engineers and Geoscientists of Alberta (APEGA).

Mr. Chenery will chair the COPL Reserves Committee and serve on the Health, Safety and Environment Committee.

Arthur Millholland, President and CEO, said: “Robert is a great addition to our Board of Directors as he has deep and relevant industry expertise, including reservoir analysis, evaluation and management in North America and internationally. He also has significant executive management experience, so he will be able to bring a diverse skill set and business perspective as we capitalize on the oil discovery we announced earlier this year and our direct participation increased in our Wyoming assets.”

About the company:

COPL is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States with operations in Wyoming and sub-Saharan Africa through its joint venture ShoreCan in Nigeria, and independently In other countries.

The company’s operations in Wyoming are among the most environmentally friendly, with minimal gas flaring and methane emissions combined with electricity from a nearby wind farm to power production facilities.

For more information, please contact:

Mr. Arthur Millholland, President and CEO
Mr. Ryan Gaffney, Chief Financial Officer
Canadian Overseas Petroleum Limited
Tel: + 1 (403) 262 5441

Cathy Hume
CHF Investor Relations
Tel: +1 (416) 868 1079 ext. 251
Email: [email protected]

Charles Goodwin
PR Limited yellow jersey
Tel: +44 (0) 77 4778 8221
Email: [email protected]

Peter Krens
Equity Capital Markets, Tennyson Securities
Tel: +44 (0) 20 7186 9033

Alex Wood and Keith Dowsing
joint broker
Capital of alternative resources
AW: +44 (0) 7559 910872
KD: +44 (0) 7559 910873

Andrew Chubb / Neil Passmore
Joint Advisors/Brokers
Hannam & Partners
+44 (0) 20 7907 8500

The ordinary shares are listed under the symbol “XOP” on the CSE and under the symbol “COPL” on the London Stock Exchange.

This press release contains forward-looking statements. Use of any of the words “initial”, “planned”, “may”, “will”, “before”, “estimate”, “anticipate”, “believe”, “should”, “plan”, ” future”, “continue”, “may”, “expect” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain expectations and key assumptions made by the Company, including, but not limited to, the ability to raise necessary financing for operations, delays or changes in plans regarding exploration or development projects or capital expenditures. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements since the Company cannot guarantee that they will prove to be correct since the forward-looking statements address Future events and conditions, by their very nature, involve inherent risks and uncertainties, many of which are beyond the control of Canadian Overseas Petroleum Ltd. For example, uncertainty in reserve estimates, uncertainty in production estimates and projections, cost overruns, health and safety issues, political and environmental risks, fluctuations in commodity prices and exchange rates, changes in legislation affecting the oil and gas industry could cause actual results to differ materially from those expressed or implied by the forward-looking information. The forward-looking statements contained in this press release are made as of the date hereof, and Canadian Overseas Petroleum undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

This information is provided by RNS, the information service of the London Stock Exchange. RNS is authorized by the Financial Conduct Authority to act as a primary information provider in the UK. Terms and conditions relating to the use and distribution of this information may apply. For more information, please contact [email protected] or visit www.rns.com.

THE SOURCE: Canadian Overseas Petroleum Ltd

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