24th Oct 2016 09:13
LONDON (Alliance News) - Canadian Overseas Petroleum Ltd on Monday noted the recent rise in its share price, but said it "remains fully current in its public disclosure" regarding its Liberia asset.
Canadian Overseas currently holds a 17% stake in Block LB-13, located in Liberia, with operator ExxonMobil holding the remaining 83% working interest.
Last week, Reuters reported that ExxonMobil Exploration & Production Liberia Ltd, an affiliate of ExxonMobil, was planning to begin drilling on the block in November.
On Monday, Canadian Overseas Petroleum said it was aware of recent news articles that discuss the Liberia asset, but gave no further information.
The company's last update on the project in September was that the pair were expecting to "participate in the drilling of a deep-water exploration well in late 2016".
Shares in Canadian Overseas Petroleum were down 3.3% at 10.76 pence on Monday morning, having risen 32% since the close last Tuesday.
By Hannah Boland; [email protected]; @Hannaheboland
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